Icelandair expects 25% cut in summer capacity
Icelandair Group is expecting a summer season capacity cut of at least 25% on the previous forecasts, and is working with unions to secure salary reductions. The airline operates a business model based on transatlantic connections via Reykjavik, and has been hit by US-European travel restrictions linked to the coronavirus outbreak. Icelandair Group says it has already adjusted capacity by up to 30% and that this is likely to be trimmed further while such restrictive measures are in effect. The operator is experiencing “significantly decreased” demand on its markets and is assuming capacity for the summer, while uncertain, will still be 25% lower, at least, than previously estimated. It has not been able to determine the financial impact of the situation. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-17/unaligned/icelandair-expects-25-cut-in-summer-capacity
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Icelandair expects 25% cut in summer capacity
Icelandair Group is expecting a summer season capacity cut of at least 25% on the previous forecasts, and is working with unions to secure salary reductions. The airline operates a business model based on transatlantic connections via Reykjavik, and has been hit by US-European travel restrictions linked to the coronavirus outbreak. Icelandair Group says it has already adjusted capacity by up to 30% and that this is likely to be trimmed further while such restrictive measures are in effect. The operator is experiencing “significantly decreased” demand on its markets and is assuming capacity for the summer, while uncertain, will still be 25% lower, at least, than previously estimated. It has not been able to determine the financial impact of the situation. <br/>
