File photo: A Boeing 737 Max airplane owned by Icelandair is seen on a parking lot at Boeing Field in Seattle, Washington, U.S. October 20, 2019
Icelandair said on Monday it will cut 240 jobs, move 92% of remaining staff to part-time employment and cut management pay in a move to absorb the effect of the coronavirus outbreak on its business.
"These measures limit the number of layoffs and positively impact the company's cash flow in the short-term," Icelandair said in a statement.
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