Edition:
India

Icelandair Says Negotiations With Stakeholders To Initiate Offering Of New Shares In Final Stages


Saturday, 1 Aug 2020 

July 31 (Reuters) - Icelandair Group Hf ::ICELANDAIR GROUP - NEGOTIATING WITH STAKEHOLDERS IN ORDER TO BE ABLE TO INITIATE OFFERING OF NEW SHARES AND COMPLETE A FINANCIAL RESTRUCTURING OF CO.NEGOTIATIONS ARE IN FINAL STAGES.FULLY DOCUMENTED AGREEMENTS HAVE BEEN COMPLETED WITH MAJORITY OF CREDITORS.ICELANDAIR GROUP - NEGOTIATIONS WITH REMAINING CREDITORS ARE AT AN ADVANCED STAGE AND FINAL AGREEMENTS ARE EXPECTED TO BE FULLY DOCUMENTED NEXT WEEK.NEGOTIATIONS WITH CREDITORS HAVE FOCUSED ON RESTRUCTURING CASH OUTFLOWS TO MATCH EXPECTED FUTURE CASH INFLOWS.ICELANDAIR- CO HAS ALREADY COMPLETED LONG-TERM COLLECTIVE-BARGAINING AGREEMENTS WITH PILOT, CABIN CREW, AND AIRCRAFT MAINTENANCE UNIONS.ICELANDAIR- SEES RECEIVING FURTHER COMPENSATION FOR LOSS DUE TO GROUNDING, CHANGES WILL BE MADE TO DELIVERY SCHEDULE OF FUTURE BOEING 737-MAX ORDERS.