Aviation & Tourism: WestJet and Icelandair signed a reciprocal codeshare at the IATA AGM, letting travellers connect via Keflavík to more than 10 European destinations (pending approval) and boosting access for Iceland-based passengers to WestJet’s Canadian network; WestJet also plans seasonal non-stop Keflavík service from Edmonton and Winnipeg, plus a returning Calgary route. Airline Performance: Icelandair reported 464,000 passengers in May (+4% y/y), with a record 83% load factor and 82.3% on-time performance, while cargo rose and emissions per tonne-kilometre fell. Labour Talks: The state mediator has called a meeting for Monday in the stalled Icelandair pilots dispute, with the airline focusing on scheduling changes tied to its Airbus fleet transition and seasonal fluctuation smoothing. Retail Expansion: SPAR opened its first Iceland stores in Hafnarfjörður and Reykjavík, with Samkaup set to operate and convert sites to the SPAR brand. Trade & Economy: Iceland’s trade deficit narrowed in May to ISK 56.6bn (from ISK 63.1bn a year earlier) as both exports and imports fell 11% y/y. Tech & Policy: Halldóra Mogensen, a former Pirate Party MP, was appointed to an EU scientific panel advising on implementation of the AI Act. Geopolitics & Security: Iceland’s coast guard is monitoring the Russian intelligence ship Yuri Ivanov in the EEZ near Iceland and Greenland, with NATO also tracking movements. Business & Markets: European stocks ended mixed after Iran signalled an end to its military operation against Israel, easing de-escalation hopes while rate-hike fears and higher yields weighed. Energy & Connectivity: Work has started on surveying a new UK–Denmark subsea fibre cable (VERENA), aimed at boosting broadband capacity across the North Sea. Biotech: Alvotech said the FDA accepted for review its BLA for AVT16, an interchangeable biosimilar to Entyvio.