The CEO of Icelandair says that the company can live for more than a year without anything going into action and says he is optimistic that he will not have to use the state guarantee approved by Althingi last autumn. The company was run by 29 billion loss last year. This was stated in Bylgjan’s lunch news.
Icelandair’s loss last year averaged 82 ISK million every day but Bogi Nils Bogason presented the annual accounts at an investor meeting this morning.
He said Icelandair has a strong liquidity and balance sheet and can withstand a long period of uncertainty, but said he was hopeful that the sun would soon set.
Last autumn, the Althingi agreed to provide Icelandair with a state guarantee for loans, and Bogi was asked whether the company needed to assume the guarantee.
Here you can hear the answers of Bogi Nils Bogason, CEO of Icelandair:
Icelandair Group lost 53 billion ISK per year 2020. The epidemic of the new coronary heart disease and travel restrictions had an enormous impact on the company and reduced the supply of seats by 46 percent per year.