Iceland Express Invests in Local Travel Agency Skip to content

Iceland Express Invests in Local Travel Agency

Representatives of the airline Iceland Express and travel agency Ferdaskrifstofa Íslands signed a declaration of intent last night on the airline’s acquisition of the travel agency. The price of the acquisition has not been revealed.

CEO of Iceland Express Matthías Imsland told that Ferdaskrifstofa Íslands and the agency’s daughter companies are strong brands which Iceland Express would like to keep on the market. “We believe it is both good for the market as a whole and for us personally.”

Ferdaskrifstofa Íslands has, like a number of Icelandic companies, suffered financial difficulties following the collapse of the banking system because its income is received in ISK while its expenses are paid for in foreign currencies.

“We have faith in the company and are planning to put extensive funds into the operations of its subsidiaries so their future looks bright,” Imsland said, adding that no changes are planned to the operations of these companies in the near future.

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