All Icelandair articles – Page 3
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Airline BusinessIcelandair chief on Covid recovery, Max jets, 757s, cargo and competition
With the group restructured during the pandemic, Icelandair under Bogi Nils Bogason is emerging as a streamlined, aviation-focused business with a decision ahead on its future fleet
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NewsIcelandair revisits hedging as fuel prices weigh on financial figures
Icelandair Group has started rebuilding a fuel-hedging position, suspended during the pandemic, as it notes the effect of fuel prices on its first-quarter performance. The company has turned in a pre-tax loss of $62.5 million and a net loss of nearly $50 million for the three months to 31 March. ...
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NewsIPO eradicates risk of ‘megalomania fit’ at growing airline: Play chief
The chief executive of Icelandic budget airline Play has explained how last year’s IPO was an important step in taking risk “off the table” for the start-up carrier’s stakeholders following the missteps at defunct compatriot Wow Air.
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NewsIcelandair opts for early termination of unused government-backed credit
Icelandair Group has notified that it is exiting the government-guaranteed credit facility which has been in place to support the company since September 2020. It entered agreements with the Icelandic government, as well as the financial institutions Islandsbanki and Landsbanki, for a credit facility worth up to $120 million. While ...
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NewsIcelandair embarks on detailed planning to replace remaining 757 fleet
Icelandair Group will look to replace its Boeing 757 fleet from the second half of the decade, following a review of its long-term strategy. Chief executive Bogi Nils Bogason, speaking during the company’s full-year results briefing, stated that the current fleet composition is “very well suited” to its route network ...
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Airline BusinessBoeing 737 Max programme enjoys better news after order setbacks
Boeing’s 737 Max programme has enjoyed a much-needed period of positive news following an inauspicious end to 2021 that saw Air France-KLM and Qantas place significant narrowbody orders with Airbus.
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NewsIcelandair reveals new livery on Boeing 737 Max
Icelandair has revealed a new livery on three of its six Boeing 737 Max 8 aircraft as part of its first rebrand since 2006.
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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 ...