Loftleidir Acquires Majority of Shares of Cabo Verde Airlines

Loftleidir Cabo Verde has acquired 51% of the shares of Cabo Verde Airlines. Loftleidir Icelandic, which is a subsidiary of Icelandair Group, holds a 70% stake in Loftleidir Cabo Verde, and other investors 30%.

The acquisition of Cabo Verde Airlines does not have a significant effect on Icelandair Group’s financial statements since Cabo Verde Airlines will not be reflected in the Group’s consolidated financial statements. The share will be classified as an associated company.  

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