Icelandair Group has signed a share purchase agreement with its co-owners of the Czech airline, Travel Service a.s. , in which shareholding of Icelandair Group in Travel Service is reduced from 80% to 66% of total shares. Unimex Group and Roman Vik/GTO who before the agreement owned 20% of the shares of Travel Service will purchase an additional 14% and now hold 34% of the total shares. "With this agreement Icelandair Group is on one hand guaranteeing the financing of Travel Service and on the other hand solidifying the partnership with our co-owners, Unimex Group and Roman Vik, CEO of the company. Icelandair purchased 80% of Travel Service shares from them last year and the company became part of Icelandair Group in the second quarter of this year. It has grown rapidly, it's results have been very strong and its worth in our books has grown from the time of purchase. That, in addition to currency effects, will lead to a sale loss for Icelandair Group of approximately ISK 450 Million due to the agreement", says Björgólfur Jóhannsson, CEO of Icelandair Group. For further information, please contact: Björgólfur Jóhannsson CEO of Icelandair Group Tel.: 896-1455 Bogi Nils Bogason, Chief Financial Officer, Icelandair Group Tel.: 665-8802