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FL-Group to list a subsidiary

According to an announcement at a news conference last Friday, the board of FL – Group has decided to seek a listing for its subsidiary Icelandair Group on the Icelandic Stock Exchange. The Icelandic National Broadcasting Service,RÚV, reports that FL-Group aims to gain a diverse shareholder base for Icelandair Group and the public and private investors will thereby be given the opportunity to purchase shares in companies in sectors related to air travel.

Over the weekend FL- Group sold Icelandair’s car rental agency, Hertz, for an undisclosed amount. It also plans to sell Reykjavík Excursions, a travel service company, and it has recently sold the travel agency Ferðaskrifstofa Íslands. According to RÚV, the companies that remain under Icelandair Group include Icelandair; Loftleidir Icelandic, a wet lease and charter arm; Icelandair Hotels and Air Iceland.

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