“Iceland has become expensive in comparison with many other countries,” the airline’s interim CEO Bogi Nils Bogason told Viðskiptablaðið. “We’ve reached the size where it could be advantageous to outsource or transfer certain operations. We’re seeing airlines do that.”
Bogi Nils pointed out that it has operated a subsidiary company in Estonia for many years. “We’ve been building it up there and moving certain basic operations there. We’re going to continue on that path.”
The Estonian subsidiary currently sees to revenue bookkeeping for Icelandair. Other accounting and other back-office operations are set to be transferred here as well.