Icelandair Group hf.

Agreement reached between Icelandair and the Icelandic Cabin Crew Association (FFI)

Despite failed negotiations between Icelandair and the Icelandic Cabin Crew Association (FFI), the parties have managed to resume discussions and have signed a new collective-bargaining agreement which is valid until 30 September 2025. The agreement is based on the same principles as the agreement which was agreed to between the parties on 25 June 2020 and thus meets the set objectives of increasing productivity and flexibility for the Company and at the same time ensures competitive compensation for cabin crew members. The current agreement results in further reduction in operating cost without negatively affecting the employee terms of cabin crew members. The agreement will now be presented to FFI members who will vote on the agreement but a conclusion from the vote is expected on 27 July 2020. Due to this progress, Icelandair’s pilots will not take over responsibility for onboard safety and the most recent cabin crew layoffs will be withdrawn.

Contact information

Investors: Iris Hulda Thorisdottir, Director Investor Relations. E-mail: [e-mail]
Media: Sigrún Össurardóttir, Communications. E-mail: [e-mail]