The national flag carrier of Iceland, Icelandair has issued a statement indicating the reduction in demand for international air travel will have an effect on the airline's revenues and operations. "Although it is still too early to determine the possible impact on Icelandair Group’s operations, this situation has led to increased uncertainty for the Company’s financial outcome of 2020. Due to this uncertainty, the guidance provided to the market on 6 February 2020 no longer applies and it is not possible to give an accurate guidance at this stage." the airline said.
The Icelandair Group's management is looking at various scenarios and what mitigating actions it could take to protect itself from further losses. The group will announce operation changes when further certainty has been reached.
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