Icelandair Group's preliminary Q1 2020 results show impact of COVID-19 pandemic.

NORDIC BUSINESS REPORT-May 4, 2020-Icelandair Group's preliminary Q1 2020 results show impact of COVID-19 pandemic

(C)2020 M2 COMMUNICATIONS http://www.m2.com

Icelandair Group hf (ICE:ICEAIR), an Icelandic travel industry corporation and the owner and holding company of the airline Icelandair, reported on Friday that preliminary results of the first quarter of 2020 indicate that revenues decreased by 16% to USD209m, as compared with the first quarter of 2019.

According to the company, its operations have been significantly affected by the COVID-19 pandemic and the associated wide-ranging travel bans and decrease in travel demand. The financial results of the first two months of the year were in line with expectations with considerable improvements between years but due to adverse COVID-19 impact, March 2020 was...

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