Icelandair Group hf. (the "Company") announced on 21 October 2010 that agreements relating to the financial restructuring had been signed that very same day. The sale of certain assets, which were not a part of the Company's core assets, was one of the components of the restructuring. It was stated in the announcement that the sales and purchase agreement contained standard reservations, e.g. regarding the approval of relevant authorities. The plan was to finalise those formalities today, the 15th of December. It has now become clear that the process will take a longer time. The plan is now to finalise the formalities before the end of January 2011.
For futher information please contact
Bogi Nils Bogason, CFO Icelandair Group, tel:354-665-8001