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Icelandair to sell easyJet stake
Friday, 05 Apr, 2006
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Iceland’s national carrier, Icelandair, is preparing to sell its 16.9% stake in easyJet for around £220 million, according to reports.
The airlines parent company, FL Group initially acquired an 8% stake in the low cost carrier in October 2004 and has twice added to its shareholding.
But according to the Guardian, problems with Iceland’s economy is forcing FL Group to sell its stake. It is believed it will make a profit of £100 million on its original investment.
The move would appear to end the long-running speculation of Icelandair buying easyJet.
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