March 23, 2020 / 9:38 AM / 6 days ago

BRIEF-Icelandair Group Updates On Coronavirus

March 23 (Reuters) - Icelandair Group hf:

* REG-ICELANDAIR GROUP HF: COVID-19 MITIGATING ACTIONS

* COVID-19 OUTBREAK HAS SIGNIFICANTLY AFFECTED DEMAND FOR INTERNATIONAL TRAVEL

* EMPLOYMENT OF AROUND 240 EMPLOYEES WILL BE TERMINATED

* TODAY, COMPANY IS OPERATING ONLY 14% OF ITS PLANNED FLIGHT SCHEDULE,

* CAPACITY IS EXPECTED TO DECLINE EVEN FURTHER

* TEMPORARY 20% SALARY REDUCTION APPLIES TO ALL EMPLOYEES THAT REMAIN IN FULL-TIME EMPLOYMENT

* FINANCIAL EFFECTS OF COVID-19 OUTBREAK FOR ICELANDAIR GROUP ARE STILL UNCERTAIN.

* EXECUTIVE MANAGEMENT SALARIES ARE BEING REDUCED BY 25% AND SALARY OF CEO AND BOARD OF DIRECTORS BY 30%.

* 92% OF EMPLOYEES MOVE TO PART-TIME EMPLOYMENT TEMPORARILY.

* EMPLOYMENT OF AROUND 240 EMPLOYEES WILL BE TERMINATED.

* TEMPORARY 20% SALARY REDUCTION APPLIES TO ALL EMPLOYEES THAT REMAIN IN FULL-TIME EMPLOYMENT Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below