Airwaves Struggles With Turbulence

Despite what one music site described as “raging uncertainty, rampant rumours and lots of mixed messages from all over,” Iceland’s Airwaves is clear to take off again in 2009.

The 2008 festival had the financial rug pulled out by the country’s national bank collapse.

Promoter Steini Stephensen saw the cost of foreign artists almost triple as the Icelandic króna went into freefall against foreign currencies.

It wasn’t possible to pay band deposits or access any cash because the country’s banking system was paralysed to the extent that it shut down.

This year’s international lineup (in Reykjavík Oct. 14-18) includes Micachu And The Shapes, Metronomy, James Yuill, Thecocknbullkid, Casio Kids, Golden Filter, Nina Kiner, and Golden Silvers.