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Iceland Express Buys Sterling

Discount airline Iceland Express purchased Sterling Airlines, the largest low-cost airline in Scandinavia for a reported 5 billion ISK. The combination of Iceland Express and Sterling may set up significant competition with Icelandair, the largest airline in Iceland. At present, Sterling carries more passengers per year than Icelandair—1.8 million per year compared to 1.3 million.

Iceland Express will hold a press conference this afternoon in Copenhagen to release more details on the merger.

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