41. The Group has agreements with Boeing regarding the purchase of four Boeing 787 Dreamliner aircrafts two to be delivered in the year 2010 and two in 2012.   The Group also has an option to purchase three additional 787 Dreamliner aircrafts with delivery after the year 2012.             
             
42. During the first half of 2007 the Competition Authorities fined the subsidiary, Icelandair ehf., due to an alleged breach of the competition law.  The penalty amounts to ISK 130 million after it was lowered by 30% after the decision was appealed.  Icelandair Group hf. has decided to take this case to court and considers it more likely than not that the fine will be withdrawn in full.  Nothing has been expensed in the income statement on this case.            
             
 The penalty on Icelandair Ground Services ehf. disclosed in the financial statement for 2006, amounting to ISK 60 million, will be taken to the Supreme Court this year.  The Group still considers that this case will end up in favour of the Group but to be precautious the amount has been expensed in the income statement.