The Icelandair Group has taken a 10.1% stake in UK-based low-cost carrier easyJet. The move saw easyJet's share price soar. Icelandair says it regards the stake as a long-term trade investment. "Part of the company's investment policy includes making investments in sectors where the group has specialised knowledge," the group's chairman, Hannes Smarason, says, adding that the company has been looking out for opportunities in the airline sector. "We have a positive opinion of easyJet's business model and we think that the company has a bright future." Icelandair has also raised IcKr3.8 billion ($56 million) from its own share issue.
Source: Airline Business
