Icelandair will add two Boeing 757s to its fleet next month.
The carrier has purchased one aircraft from American Airlines while the second aircraft will be operated under a 20-month operating lease by Titan Airways.
Icelandair Group's chief financial officer, Bogi Nils Bogason, says the acquisition from American Airlines was financed using internal cash.
Both aircraft will undergo modification to meet Icelandair's product specifications, it says, before being deployed on the carrier's route network in May.
The airline will have 16 aircraft in its operation during the summer season, compared with 14 aircraft in the summer of 2011.