Keflavík International Airport, located 50 km south-west of Reykjavík on the Reykjanes peninsula, provides a vital transport link for both passengers and freight. It offers a world class facility that can be reached by road from the capital in a matter of 40 minutes. The airport covers an area of some 25 square kilometers; it has four runways of more than 3,000 metres capable of handling modern long-haul aircraft.

Keflavik International Airport Ltd. assumed combined operation of the Keflavik Airport Authority and Leifur Eiriksson Air Terminal Ltd. on 1 January 2009. Keflavik International Airport Ltd. is a private limited company with 100 percent government ownership.

Keflavik International Airport features modern passenger and commercial facilities with extensive capacity on the North Atlantic and polar routes linking Europe and Asia with North America. The airport serves the capital city of Iceland, Reykjavik, and is an international hub of major importance for scheduled operations and technical stops. CAT II facilities serve all types of aircraft in a non-congested 24 hour operation.

Keflavik International Airport was operated jointly with U.S. Naval Air Station, Keflavik until 2006 when the Airport Authority assumed sole operation including support for military aviation and defense responsibilities. Commercial and general aviation increased dramatically in the last two decades with peak passenger traffic at 2.2 million in 2007. Fourteen passenger carriers and three scheduled cargo carriers operate at Keflavik International Airport during the high season. Icelandair, Iceland Express and SAS provide year-round scheduled service.

In its quality survey of the first quarter of 2008, Airports Council International (ACI) placed Keflavik International Airport first in the category of airports serving less than 5 million passengers for Ease of Connections, third for Sense of Security and fifth for Overall Customer Satisfaction.

According to the 2009 Airports Council International passenger quality survey is the Keflavik International Airport the best airport in Europe.