Icelandic airline Icelandair is making preparations to suspend its regular service of flights between Glasgow Airport and Reykjavik until March 2009. Icelandair, which has been flying from Iceland to Scotland for the past 60 years, came to the decision in response to a marked drop in flight bookings from the northern European country. Icelandair has attributed the fall in bookings to the poor exchange rate between the Icelandic krona and the British pound, with the collapse of Iceland's banking system exacerbating the situation. Scott Taylor, chief executive of the Glasgow City Marketing Bureau said: 'This has happened purely because of the collapse of the economy in Iceland. We're talking 3000 short-break visitors to Glasgow, which may not seem an awful lot but they are significant spenders. ' Icelandair's Glasgow flights are due to stop at the end of November or in early December, with services expected to restart in early spring 2009. Icelandair currently serves some 24 airports in the USA and Europe from it's Icelandic base.