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Effect of the volcanic eruption in Grimsvotn on Icelandair Group

Direct News Source

23-May-2011 Keflavik International Airport has been closed since 9:00 AM yesterday due to the volcanic eruption in Grimsvotn.

According to the newest weather and ash forecasts it is assumed that Keflavik airport will reopen tonight and flights will be back on schedule tomorrow. If those forecasts will realize and no further disruptions will occur related to the eruption Icelandair Group estimates that its economic damage due to this will be minimum and its EBITDA forecast of ISK 9.5 billion will remain unchanged.