Today Icelandair Group hf. received a decision of the Internal Revenue Board made on 15 April 2015. The decision confirms the decision of the Director of Internal Revenue that was made on 18 December 2013. The decision decreased Icelandair Group’s expensed financial costs for the tax payment years of 2008-2012 with reference to a court verdict by the Supreme Court of Iceland in case no. 555/2012 from 28 February 2013 (Toyota á Íslandi ehf. v. Iceland). This will decrease Icelandair Group’s transferable losses by up to ISK 6.4 billion. The management of Icelandair Group hf. will review the decision and evaluate whether the decision should be referred to the District Court of Reykjavik. The Company’s equity can decrease by up to 1.3 billion ISK (9.6 million USD) if the case will be lost before the Icelandic courts.
For further information :
Björgólfur Jóhannsson, President and CEO
bubbi@icelandairgroup.is
+ 354 896 1455
Bogi Nils Bogason, CFO
bogi@icelandairgroup.is
+ 354 665 8801