Icelandic LCC entering new business

Posted on Mon, 04 May 2009 21:17:37 GMT

Despite the financial crisis hitting hard at Iceland, the country's low-cost airline Iceland Express is planning to add new business.

The carrier has signed a LoI with the Icelandic travel agency Ferdaskrifstofa Islands, aiming at an acquisition of the travel agency and its subsidiaries.

While the price has not been revealed, reports are that the agency is badly hit by the economic down-turn, and is probably going with a price-tag attractive to its future owner.

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