All Icelandair articles – Page 3
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NewsIcelandair to lease additional 737 Max jets from Dubai’s DAE
Icelandair is to lease another pair of Boeing 737 Max jets to raise its capacity for the summer season, taking the aircraft from Dubai Aerospace Enterprise. The airline had indicated, last October, that it was considering adding up to three more 737 Max 8s to its fleet. Icelandair has been ...
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NewsIcelandair splits commercial division as part of realignment for recovery
Icelandair Group is restructuring its organisation, splitting its commercial operation into two divisions – focused on customers and revenue – and recruiting a former director, who also served with defunct budget carrier Wow, to head the revenue side. The revenue division will comprise the network, revenue management and sales functions ...
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NewsIcelandair seeks to add more 737 Max jets to bolster summer 2022 capacity
Icelandair is considering adding up to three more Boeing 737 Max 8s to its fleet to provide additional capacity ahead of next year’s summer season. The airline has nine of the type in its fleet – comprising six Max 8s and three Max 9s – and is preparing to take ...
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NewsIcelandair turns in profitable third quarter despite virus variant impact
Icelandair Group has defied the impact of new coronavirus variants to post a net profit of nearly $20 million for the third quarter. The operator expanded its network in the three months to 30 September to cover 34 destinations – comprising 23 in Europe and 11 in North America. It ...
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NewsIcelandair seals financing agreements for last three 737 Max deliveries
Icelandair Group has entered financing agreement covering three more Boeing 737 Max twinjets. The agreement with lessor Aviation Capital Group centres on two 737 Max 8s – which will be covered by sale-and-leaseback – and a single Max 9, which will be under a finance lease. Icelandair’s arrangement will complete ...
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NewsIcelandair Group’s chief operating officer steps down
Icelandair Group’s chief operating officer Jens Thordarson has resigned from his role.
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NewsIcelandair trims winter capacity outlook as restrictions stifle demand
Icelandair has reined-in its capacity forecast for the winter season, as a result of continuing constraints on demand caused by travel restrictions. The airline says it expects to operate 65% of its production for the winter schedule, measured against 2019 levels. It had previously estimated that it would reach a ...
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NewsIcelandair praises 737 Max performance as it ramps up operations for second half
Icelandair has seven of its nine Boeing 737 Max jets in service and expects to bring the other two into operation by late August. The carrier is also planning to take another Max 8 and Max 9 in the fourth quarter, and another Max 8 – the last of the ...
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NewsInvestor Bain Capital backs Icelandair with plan to take 16.6% stake
Investment firm Bain Capital is to take a 16.6% share in Icelandair Group, through the IcKr8.1 billion ($66 million) acquisition of new shares in the company. Bain Capital has entered a binding agreement to subscribe to 5.66 billion new shares. Its acquisition is conditional upon shareholders agreeing to the transaction ...
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NewsIcelandair Group finance chief steps down after two years
Icelandair Group has named Ivar Kristinsson as its interim chief financial officer, following the decision by Eva Soley Gudbjornsdottir to step down from the post after two years. Gudbjornsdottir has overseen the group’s finances, steering it through the impact of the pandemic, since succeeding Bogi Nils Bogason – who had ...
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NewsIcelandair Group reaches tentative agreement to sell tour operator
Icelandair Group and tour specialist Nordic Visitor have reached a heads-of-terms agreement over the sale of the group’s entire shareholding in tour operator Iceland Travel. The company, which wholly-owns Iceland Travel, disclosed earlier this year that it would divest the division as part of its focus on core flight operations. ...
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NewsCargo proves strong as Icelandair awaits passenger traffic recovery
Icelandair Group has highlighted cargo activity as a strong performance area in the first quarter, a period in which the company generated a net loss of just over $30 million. Revenues for the first three months of the year reached $57.3 million, a decline of 73%, but the company points ...
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NewsIcelandair unconcerned after volcano erupts near Keflavik hub
Icelandair believes a volcanic eruption which commenced near Reykjavik’s Keflavik airport will have only a limited effect on the flag-carrier’s operations. The eruption is close to the Fagradalsfjall peak some 20km south-east of the airport, which serves as Icelandair’s hub. According to the Icelandic Met Office it began on 19 ...
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NewsSingle Icelandair brand to cover Air Iceland Connect operations
Icelandair Group is bringing its regional carrier Air Iceland Connect under the single brand of the parent airline, in a bid to simplify its operations. The integration will take effect from 16 March, says the company, with the international network of Icelandair being combined with domestic links and the regional ...
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NewsTwo Icelandair 767s to be converted to freighters in leaseback deal
Icelandair Group has reached a sale-and-leaseback agreement for a pair of Boeing 767-300ER which will be converted into freighters. The aircraft are being sold to Atlas Air Worldwide Holdings’ associated joint venture Titan Aircraft Investments. Icelandair Group says the 767s will be converted in spring next year and be re-introduced, ...
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NewsIcelandair returns Boeing 737 Max to revenue service
Following the lifting of the 737 Max’s grounding, Icelandair has resumed commercial flights using the Boeing narrowbody after a nearly two-year break.
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NewsIcelandair focuses on cash preservation as pandemic resurgence bites
Icelandair transported just 14,000 passengers during December 2020, but even this figure was more than the October and November totals combined. Fourth-quarter revenues for Icelandair Group amounted to just $60 million to 31 December, down by more than 80%, while pre-tax losses for the period reached $97 million. It attributes ...
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NewsOptimistic Icelandair sees spring return for 737 Max
Icelandair Group is optimistic that it will be able to start ramping-up its network in the second quarter of this year, and intends to return its Boeing 737 Max fleet to service in spring. The company has six 737 Max jets which have been grounded for nearly two years. But ...
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NewsIcelandair Group to divest tour operator following hotel sale
Icelandair Group is to sell its tour operator subsidiary Iceland Travel, as part of the continuing concentration on its flight operations activities. The wholly-owned subsidiary had been classified, along with hotel firm Icelandair Hotels, as an asset held for sale in 2019. Icelandair Group sold a 75% share in the ...
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NewsIcelandair agrees sale-and-lease of two more 737 Max jets
Icelandair Group is selling a pair of Boeing 737 Max jets under a leaseback scheme, ahead their delivery next year. The two Max 9s are due to be introduced to the Icelandair fleet in the second quarter of 2021. Icelandair Group says it has entered an agreement with Sky Aero ...