FL Group gains 4.7 billion in profits Skip to content

FL Group gains 4.7 billion in profits

FL Group is reported to have gained ISK 4.7 billion (EUR 51 million, USD 66 million) in profits since investing in the US based Airline AMR Corporation in late December.

Morgunbladid reports that FL Group has profited by nearly ISK 500 million (EUR 5.4 million, USD 7.0 million) on every day of business since buying a six percent share in AMR, the world largest airline and the mother company of American Airlines.

The rate of exchange of stocks in AMR has increased by 17 percent since December 26, when FL Group announced that it had bought a six percent share in the company, and Morgunbladid estimates that FL Group’s total profits since then is ISK 4.7 billion.

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