Dear Saddest, Dear dear saddest
Since when can Iceland really be referred to as a 3rd world operator, having worked with Icelandic airlines in the past I think you will find they can be as highly regarded (if not more so) as
other operators.
Dont forget many of the European (3rd world!) airlines you talk about were operating to JAA ops rules long before UK carriers could make it in.
and finally.....regarding the grounding incident in 1998, this was created by a disgruntled ex-employee - i think many ex-employee's could ground any airline with enough knowledge.
rt