Icelandair terminates its Government-Guaranteed Credit Facility

Icelandair has given formal notice of termination of the government-guaranteed credit facility that has been in place since September 2020, effective 15 days from today as per its terms and conditions. Icelandair states that it has successfully navigated the turbulent two years since the onset of the pandemic resulting in a strong financial position at year-end 2021, which will support its ambitious 2022 flight schedule and continued recovery. On 15 September 2020, Icelandair entered into agreements with Íslandsbanki, Landsbanki and the Icelandic Government regarding a credit facility for up to US$120 million with a 90% government guarantee and a two-year