Eimskip issued a profit warning Wednesday and said it will book a fourth quarter charge for a €207 million ($298-million) for a loan guarantee to a British airlinethat went bankrupt earlier this year.
In addition to the loan guarantee to the carrier, XL Leisure, Eimskip faces other charges for currency losses and the sale of businesses, which will “severely reduce “its equity, the company said.
Eimskip, which has also been hit by the financial meltdown in Iceland, has cut its fleet, slashed wages and last week closed its office in Halifax, one of the ports it serves in eastern Canada.
Eimskip
