I would think that 14.7% inflation, interest rates rising out of control and Icelandic Krona dropping against all major currencies ( only about 40% against EUR in the last 6 months) has something to do with the problems Iceland Air has. No money = savings and lay offs. Perhaps the savings have been in the wrong place as Iceland Air maintenance department has been know for very good quality 3rd party maintenance that mostly stays in the allocated budget and timeframe.
This really doesn't affect Icelandair so much since most of their income is in foreign currencies like EUR and USD. Only 20-30% of the passengers are locals. Main income is therefore in foreign currencies.
The layoffs are directly connected to the oilprice, they are decreasing the winterschedule by 14% from previous winter, that is the main reason.
Regarding the inflight shutdowns which is the origin of this thread I'd like to tell what I know from first hand about them. All of those shutdowns are on engines that were on ex-Iberia a/c which used a workshop not approved by RR. Those engines have always been removed from the wing much earlier than non-Iberia engines. All original Icelandair engines have according to my knowledge always been overhauled by RR.
One of the inflight shutdown this recent month was due to failiure in a fuel governor not the engine it self. And by the way, that engine was a on a loan from RR since they messed up things with some Icelandair engine that was stuck in an overhaul at RR. The other engine was ex-Iberia
The incident which is the origin of this thread is most likely due to FOD from the runway but not from a failiure of the engine it self. It must be Icelandair's lucky month!
Hope this will clear some errors out of someones head.