Icelandair rejigs restructuring timeline as crucial talks continue

Icelandair Group has pushed back by two weeks a provisional deadline for reaching restructuring agreements with various partners, forcing it to revise the timeline for a planned share offering. It has notably yet to reach a deal with cabin crew representatives, and the company is expressing “concern” that no “significant progress” has been made with talks since they stalled about three weeks ago. Negotiations with the pilots and aircraft mechanics unions have been successfully completed. The company had aimed to complete negotiations and sign agreements over the restructuring with key stakeholders – partners, lenders and lessors – by 15 June. But it has moved this back to 29 June, the date from which it had originally expected to commence the share offering.<br/>