Loftleidir - Icelandic Airlines - Mug

Loftleiðir HF, internationally known as Icelandic Airlines was a private Icelandic airline headquartered on the grounds of Reykjavík Airport in Reykjavík, which operated mostly trans-atlantic flights linking Europe and America, pioneering the low-cost flight business strategy on these routes.

Loftleiðir (the name being a compound of the Icelandic words for Air and Way) was founded on 10 March 1944, by Alfreð Elíasson and two other young Icelandic pilots. The first revenue flight from Reykjavík to Ísafjörður took place on 6 April of that year. The growing competition from Flugfélag Íslands and the economical pressure during the 1970s energy crisis led to the merger of the two airlines in 1973 into one holding company, which was called Flugleiðir.