The new service from London Gatwick to Reykjavik will join the current daily flights from Stansted to Reykjavik next spring.
The new flights were due to start next month, but have been delayed until spring 2009 as a move to offset the current economic situation.
"Iceland Express is remaining cautious in the current uncertain economic climate, while continuing to deliver the best possible service at the best possible price," said Birna Gudmundsdottir, the airline's marketing manager.
"We have decided to move the launch of this exciting new service to the spring as it is the peak travel season for Iceland."
Meanwhile, the airline has announced the arrival of a new in-flight entertainment service.
Airplay allows customers on flights to Iceland to watch films and TV shows, as well as listen to music and play computer games.
The service will be available on flights from London Stansted to Reykjavik and on services from the Icelandic city to Alicante, Barcelona, Lanzarote, Copenhagen and Berlin.