Icelandair Cargo is aiming to
reduce its dependency on its home market following its agreement to acquire
Airbus A330-200 freighters.
Icelandair Group’s freight
division is to take four A330Fs through an arrangement with Avion Aircraft Trading, which has just firmed an
agreement with Airbus to acquire eight of the type.
Icelandair Cargo will lease two
of them directly from Avion.
But Icelandair Group’s
leasing subsidiary, Icelease,
is to buy two of the jets and lease them back to Icelandair Cargo.
of the A330Fs will be delivered in spring 2010 and the other pair in 2011.
Icelandair Cargo, which presently
operates five Boeing 757-200 freighters, is to use the A330Fs to develop
long-haul flights to Asia.
The carrier serves eight scheduled freighter destinations in Europe and North America, and sells hold space on Icelandair routes.
carrier says it is interested in broadening its reach to China, India and the Person Gulf, and establishing connections
through a European hub to Iceland, Canada and the USA.
states it plans to cut down its home-market dependence. Around 80% of its
transported freight is carried to or from Iceland.
Icelandair Cargo managing
director Petur Eiriksson says the airline
intends to “turn these proportions around” and adds: “We plan to treble the
tonnage, treble the present revenue compared with today, as well as treble the
airline will acquire one or two more 757Fs in the interim until the A330Fs are
delivered. But it says it will continue to use both types in parallel for an
income from the four A330Fs will amount to IcKr15-18 billion ($240-290 million)
per year, the company estimates. Icelandair
Cargo’s scheduled network includes New
Halifax, Brussels, Liege,
East Midlands, Jonkoping and