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Dec 01, 2009 (newstodate): Icelandair has reported a sound performance in Q3 and the first nine months of 2009.
-Icelandair Group's core business in the third quarter was successful, and improvements between years are evident in all the income statement ratios, with the exception of depreciation and financial items, says Bjorgolfur Johannsson, Icelandair Group CEO.
-This year is probably the toughest our industry has experienced, and our foreign subsidiariesoperations show that clearly, where we see less demand and lower prices having negative effect on the bottom line.
Icelandair has consequently reducing its ownership in the Czech company Travel Services to 20 percent, and other assets that the Company intends to sell in the coming months will be re-assessed.
Among assets in the form of subsidiaries that may be put up for sale are Bluebird Cargo and SmartLynx that will initially be placed in a separate holding company, pending improvements in market conditions.
-Icelandair Group's core business in the third quarter was successful, and improvements between years are evident in all the income statement ratios, with the exception of depreciation and financial items, says Bjorgolfur Johannsson, Icelandair Group CEO.
-This year is probably the toughest our industry has experienced, and our foreign subsidiariesoperations show that clearly, where we see less demand and lower prices having negative effect on the bottom line.
Icelandair has consequently reducing its ownership in the Czech company Travel Services to 20 percent, and other assets that the Company intends to sell in the coming months will be re-assessed.
Among assets in the form of subsidiaries that may be put up for sale are Bluebird Cargo and SmartLynx that will initially be placed in a separate holding company, pending improvements in market conditions.