Icelandair widens 1Q net loss on higher costs, MAX uncertainty
Icelandair posted a Q1 net loss of $55m, widened from a $35m net loss in the year-ago quarter as pressure on airfares, higher costs and Boeing 737 MAX grounding created uncertainty. The airline reported a 7% decline in operating income to $249m. Expenses dropped 8% to $263m in the quarter. As a result of the MAX grounding, the Reykjavik-based carrier—a long-time Boeing customer—is rethinking its long-term fleet strategy and is also evaluating becoming an all-Airbus operator. Icelandair’s six-strong 737 MAX 8 fleet has been grounded since March 12. A further three 737 MAX 9s are yet to be delivered and the timing is uncertain. The airline has updated its flight schedule through July 15 with a 1% capacity reduction. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-09/unaligned/icelandair-widens-1q-net-loss-on-higher-costs-max-uncertainty
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Icelandair widens 1Q net loss on higher costs, MAX uncertainty
Icelandair posted a Q1 net loss of $55m, widened from a $35m net loss in the year-ago quarter as pressure on airfares, higher costs and Boeing 737 MAX grounding created uncertainty. The airline reported a 7% decline in operating income to $249m. Expenses dropped 8% to $263m in the quarter. As a result of the MAX grounding, the Reykjavik-based carrier—a long-time Boeing customer—is rethinking its long-term fleet strategy and is also evaluating becoming an all-Airbus operator. Icelandair’s six-strong 737 MAX 8 fleet has been grounded since March 12. A further three 737 MAX 9s are yet to be delivered and the timing is uncertain. The airline has updated its flight schedule through July 15 with a 1% capacity reduction. <br/>
