Icelandair Group is cancelling
plans to lease four Airbus A330-200 freighters which the company’s cargo
subsidiary had planned to acquire through Icelandic firm Avion Aircraft Trading.
Avion Aircraft Trading ordered
eight Rolls-Royce Trent 700-powered A330 freighters last year and signed an
initial agreement to transfer four of the type to Icelandair Group.
Icelandair Group says it
has decided against taking the aircraft which were due for delivery in 2010 and
decision is being made in order to reduce the risk in the operation of Icelandair Group, in
consideration of the current economic uncertainty,” says Icelandair Group chief Bjorgolfur Johannsson.
are presently unwilling to take on a commitment of this size and have therefore
exited the negotiations in consultation with Avion Aircraft Trading.”
division Icelandair Cargo
had planned to lease two of the twin-jets directly from Avion while the other two would have been purchased
by Icelandair Group’s
leasing division, Icelease,
before being sub-leased to the cargo subsidiary.
was intending to use the aircraft to develop long-haul routes, notably to
destinations in Asia,
and reduce its dependency on the Icelandic market.
Icelandair Cargo operates five
Boeing 757-200 freighters. It says its strategy to develop its operations using
efficient aircraft types has not changed but “will be implemented later or with
Avion Aircraft Trading earlier
this year disposed of an order for eight Boeing 777 freighter aircraft by
selling the slots to German bank DVB’s
leasing arm Deucalion. These 777Fs are to be leased to the new Lufthansa
Cargo-DHL Express venture AeroLogic.