On a calm and brightly lit meeting room overlooking Reykjavik’s downtown domestic airport, Icelandair Group president and CEO Björgólfur Jóhannsson reflects on the turmoil created when Iceland’s three major banks failed in quick succession in 2008. “We were kind of ready, but when the first banks went bankrupt on October 6 and 7, a lot of companies closed down on credit. Luckily there were some who helped us, like the lessors, but we were very ...

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