Icelandair has estimated that the suspension of its Boeing 737-MAX aircraft has had negative impact on EBIT, as of 1 August 2019, of US$140 million and has increased during recent months since the suspension is still ongoing.
Icelandair confirms that it has reached an interim agreement with Boeing regarding compensation which covers a fraction of the company’s total loss due to the suspension. The details of the agreement are confidential, however. The estimated impact of the suspension on EBIT quantified to date (25 Sept.) is around US$135 million taking into account the agreement with Boeing.
Icelandair Group says that it will continue its discussions with Boeing regarding compensation and its EBIT guidance for the year is unchanged at negative of US$70-90 million.
Icelandair reveals financial effects of 737-MAX suspension
