Air Atlanta Icelandic to focus fleet growth on 747-400s

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Iceland’s Avion Group is to focus on growing further its fleet of converted Boeing 747-400 aircraft after striking a deal to sell the eight Boeing 777 freighters it previously had on order.

Avion Group originally ordered the eight freighter aircraft in 2005. The aircraft were for use by its wet-lease division Air Atlanta Icelandic and were due for delivery beginning in February next year and running through to 2011.

These aircraft, however, have been acquired by German bank DVB’s leasing division Deucalion for lease to AeroLogic, the new Lufthansa Cargo-DHL Express joint venture formally unveiled two days ago.

Boeing had described the Avion order as being terminated, but Avion Aircraft Trading chairman Hafthor Hafsteinsson says it sold these aircraft to Deucalion and AeroLogic. Deucalion says it is the owner and lessor of the eight 777Fs, which will be operated by AeroLogic.

“Air Atlanta Icelandic is focusing on growing further its converted Boeing 747-400 fleet instead of the originally planned Boeing 777Fs,” explains Hafsteinsson.

“Air Atlanta Icelandic currently has two 747-400 freighters in operation and another two yet to be delivered. We, as Avion Aircraft Trading, have two 747-400s to be converted later this year that will be placed with another airline.”

Avion Aircraft Trading has, in the last two years, traded 40 aircraft. It also ordered eight Airbus A330-200 freighters last year.