Icelandair to offer online fare auction service.

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Icelandair has formed an agreement with FairMarket Inc. to introduce icelandairauction.com, a new online auction website that will offer customers low fares to destinations in Scandinavia, the UK and Europe.

The airline plans to offer more than 500 seats for travel in the summer and autumn with bids starting as low as USD1 for flights from New York's JFK International Airport, Boston, …