Icelandair delays share issue to August as crucial talks go on

Icelandair Group has deferred a planned share offering until August, as it strives to reach stakeholder agreements on which the stock issue is conditioned. The company had been aiming to seal these agreements by 29 June, a date already pushed back by two weeks from the original mid-June estimate. Icelandair Group says it intends to initiate the proposed share offering in August if it can complete negotiations with the various stakeholders during July. But while the company has received “positive feedback” from most creditors over its restructuring effort, talks with some “pivotal” parties have yet to be concluded, it states. These parties include aircraft leasing companies and a credit-card acquirer. Icelandair Group is also still holding discussions with Boeing over further compensation arising from the grounding of Icelandair’s Boeing 737 Max fleet, as well as future Max deliveries.<br/>