The U.S. Government has issued travel restrictions due to the COVID-19 outbreak which will temporarily suspend travel for non-U.S. citizens, who have been physically present within the Schengen Area during a 14-day period preceding their entry, to the U.S. for 30 days effective from Saturday 14 March. The travel restrictions will significantly affect Icelandair’s flight schedule during the period and will lead to further capacity reductions than previously expected. Icelandair has around 490 trips scheduled to and from the US during the period. The financial effect of the travel restrictions and the COVID-19 outbreak for Icelandair Group are still uncertain but as previously announced the Company is analyzing possible scenarios and mitigating actions as the situation evolves.
The financial position of Icelandair Group is strong but the total liquidity amounted to USD 301.6 million at year-end 2019 and is at a similar level today.
