The story
The enterprise was founded in 1945 as the Icelandic Civil Aviation Administration (Flugmálastjórn Íslands). With the creation of the government enterprise Flugstodir ltd. in 2006, the operational services were separated from the regulatory authority of the Icelandic Civil Aviation Administration. 31 January 2010 Flugstodir and Keflavik International Airport Ltd. were merged into a private limited company with 100 per cent state ownership, Isavia ltd.
From Wikipedia’s article on Isavia, shared under CC BY-SA 4.0.4