Icelandair Group hf. updated EBITDA guidance for 2018. For the year, the company is projecting its EBITDA for 2018 in the range of USD 120 million to 140 million. Although the company’s interim financial statement has not been finalized, it is apparent that performance in the second quarter will fall short of projections. In the course of preliminary work on preparing its interim financial statement for the second quarter, the company has been analyzing the assumptions used in its earnings estimate for the second half of the year. The company’s projections of rising average fares in the second half of the year have so far not materialized. This is in spite of a 50% rise in fuel prices over the past 12 months. As a result, the company has decided to reduce its revenue forecast for the second half of the year.