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Three bidders for Icelandic Express

According to TV station NFS, the business publication Vidskiptabladid claims that three parties submitted bids for the airline Iceland Express to KB bank. The deadline for making offers expired earlier this week. The highest bid is said to amount to ISK 3.7 billion.

The owners of Iceland Express, the holding company Fons, decided to sell the airline after another holding of theirs, the Danish airline Sterling, was acquired by FL Group which operates Icelandair, a competitor of Iceland Express. They are now substantial shareholders in FL Group.

NFS quotes sources in the Icelandic business community saying that the decision of British Airways to commence flights to Iceland could “adversely affect the interest” of investors to make a binding commitment to buy Iceland Express.

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