FL Group, the Reykjavik-based parent of Icelandair Group, Sterling Airlines and other aviation and tourism businesses, yesterday reported a second-quarter net profit of just ISK118 million ($1.7 million), narrowed from a profit of ISK1.9 billion in the year-ago period. CEO Hannes Smarason cited "extremely turbulent" capital markets in the quarter as well as "difficult market conditions and seasonality in operating companies" through the first half of the year to explain the reduced results. ...

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