Icelandair puts strike cost at half a billion krónur

Icelandair estimates that a September strike by aircraft mechanics cost the airline about $4 million, or roughly 500 million krónur, according to mbl.is.

The cost was reported as the company published its third-quarter results. Icelandair posted record revenue of 80.5 billion krónur and a profit of 11.8 billion krónur, but forecast a loss in the next quarter and an operating loss of 2.5 billion to 3.7 billion krónur for the year.

The strike action lasted about 11 hours on September 23. Icelandair and the Icelandic Aircraft Mechanics Association agreed to begin a four-week round of negotiations, and the strike was called off to create a period of labour peace.

Icelandair cancelled 26 flights between Keflavík and Europe, as well as five domestic flights. The company said the disruption affected about 5,500 passengers.