Icelandair Group sells remaining state in Icelandair Hotels, to focus on core aviation business

    Icelandair Group signed (11-Feb-2021) an agreement with Berjaya regarding the sale of its remaining 25% share in Icelandair Hotels. The purchase price for the share is USD3.4 million and will be payable at delivery of shares when the agreement has been completed. Following the transaction, Icelandair Hotels is expected to work on rebranding its hotels and cease the usage of the Icelandair trademark. Icelandair president and CEO Bogi Nils Bogason said the sale forms part of the company’s ongoing strategy to focus on its core aviation and related services businesses moving forward. “I am confident that Iceland will continue to be an attractive tourist destination following the pandemic and that Icelandair Hotels will continue to play an important role in the further development of the Icelandic tourism market in the coming years”, Mr Bogason concluded. [more – original PR]

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