On 30 October 2015 the Government resolved to entrust the Minister of Industry and Commerce to begin preparations for the establishment of a Route Development Fund. This resolution was based on proposals from a committee appointed by the Prime Minister on new opportunities for international flights.
The objective of the Fund is to support the development of new flight routes to Iceland, to enable regular international flights through the international airports at Akureyri and Egilsstaðir. This encourages better distribution of travellers throughout Iceland, in accordance with the Road Map for Tourism, improves utilisation of public infrastructure, and enhances the living conditions and quality of life for local residents as well as the business environment in North and East Iceland.
The Fund operates in two divisions, a Route Development Division and a Marketing Support Division.