All Icelandair articles

  • Icelandair 757-c-Icelandair
    News

    Icelandair Group to divest tour operator following hotel sale

    2021-01-19T10:18:00Z

    Icelandair Group is to sell its tour operator subsidiary Iceland Travel, as part of the continuing concentration on its flight operations activities. The wholly-owned subsidiary had been classified, along with hotel firm Icelandair Hotels, as an asset held for sale in 2019. Icelandair Group sold a 75% share ...

  • Icelandair 737 MAX 9-640
    News

    Icelandair agrees sale-and-lease of two more 737 Max jets

    2020-12-28T15:41:00Z

    Icelandair Group is selling a pair of Boeing 737 Max jets under a leaseback scheme, ahead their delivery next year. The two Max 9s are due to be introduced to the Icelandair fleet in the second quarter of 2021. Icelandair Group says it has entered an agreement with ...

  • Icelandair Boeing 757-200
    News

    Icelandair to withdraw and part-out batch of 757-200s

    2020-10-27T08:33:00Z

    Icelandair Group is planning to retire four Boeing 757-200s over the next few weeks, which will be placed with part-out schemes. The company says some of the components will be cannibalised for its remaining 757s while others will be sold. Icelandair Group says the retirement is part of ...

  • Icelandair Boeing 737 Max
    News

    Icelandair uses Boeing compensation to offset new 737 Max expenditure

    2020-10-26T22:58:00Z

    Icelandair Group is expecting to take delivery of three more Boeing 737 Max jets in the first half of 2021, and has reclassified part of the compensation received for the Max grounding as reduced capital expenditure on them. The company has not disclosed the scale of the compensation settlement ...

  • Icelandair Amsterdam-c-Icelandair
    Analysis

    Icelandair plans for 30% capacity cut in summer 2021 schedule

    2020-10-20T17:23:00Z

    Icelandair is expecting to operate a summer 2021 schedule with capacity down by 25-30% compared with last year. It is planning to serve 32 destinations – among them the Canary Islands resort of Tenerife, which is a new route for the carrier. Twenty-two of the destinations will be ...

  • Icelandair Boeing 757-200
    News

    Icelandair sells three 757-200s for freighter conversion

    2020-10-08T07:14:00Z

    Icelandair Group is to sell three of its Boeing 757-200s, which will be converted into freighters following the transaction. Disposal of the Icelandair aircraft will generate about $21 million in net proceeds, the company says. It has not identified the buyer of the twinjets. Two of the aircraft ...

  • Icelandair wing
    News

    Icelandair Group receives strong response to share offer

    2020-09-18T06:53:00Z

    Icelandair Group has received a strong response to its share offering, with an oversubscription reaching some 85% more than the planned allocation. The offering – initially intended to cover IcKr20 billion ($147 million) in new shares, through separate share batches of IcKr17 billion and IcKr3 billion – closed on ...

  • Icelandair pilot
    News

    Icelandair options broaden as crew duty schedules shift closer to limits

    2020-08-19T14:11:00Z

    Icelandair’s new collective agreements with aircrew means pilots and flight attendants will work closer to theoretical maximum limits, and enable the airline to explore new network prospects. International regulations restrict pilots and cabin crew from operating more than 900 block hours per year. Icelandair says that, given the ...

  • Icelandair wing
    News

    Icelandair: Keflavik hub stands to benefit as non-stop competitors retreat

    2020-08-19T12:01:00Z

    Icelandair Group has warned that if its operation collapsed, the Reykjavik Keflavik hub would take years to rebuild and, as a result, would cause substantial damage to the country’s economy. The company, which is preparing a $150 million share issue, has outlined the bleak consequences of receivership to potential ...

  • Iceland
    News

    Icelandair expects four-year recovery as it revises share issue

    2020-08-19T09:41:00Z

    Icelandair Group expects to start its recovery ramp-up in the second quarter of 2021, but its conservative approach will not return the operator to pre-crisis levels until 2024. The company has detailed its position to potential investors as it prepares for a share offering intended to raise IcKr20 billion ...

  • Icelandair Boeing 737 Max
    News

    Icelandair cuts back 737 Max order as part of final settlement

    2020-08-12T06:43:00Z

    Icelandair Group is cutting four Boeing 737 Max jets from its order commitment and revising deliveries of the remaining six as part of a final settlement with the airframer over Max disruption. The company has detailed the settlement after concluding a series of agreements with creditors and stakeholders essential ...

  • Icelandair Boeing 757-200
    News

    Icelandair seals new cabin crew pact as it reels from first-half losses

    2020-07-27T18:09:00Z

    Icelandair Group has secured approval from its flight attendants for a new collective agreement, thrashed out after a stand-off which involved the airline’s dismissing, and then reinstating, its cabin crew corps. The agreement will remain valid until the end of September 2025 and rounds off the critical negotiations with ...

  • Icelandair Boeing 757-200
    News

    Icelandair Group expects $100m second-quarter operating loss

    2020-07-22T09:27:00Z

    Icelandair Group has revealed the extent of the coronavirus impact on the second quarter, indicating an operating loss of around $100-110 million. The company says its revenues for the three-month period to 30 June were down by 85% to some $60 million. Its operating loss in the same ...

  • Icelandair 737 MAX 9-640
    News

    Icelandair withdraws mass cabin crew lay-off after new deal emerges

    2020-07-19T08:50:00Z

    Icelandair Group has reversed an extraordinary decision to dismiss all its cabin crew, after a swift resumption of negotiations resulted in another tentative collective bargaining agreement. The operator’s mass sacking of its flight attendants, which would have involved replacing them with pilots from 20 July, had initially spurred a ...

  • Icelandair Boeing 737 Max
    News

    Icelandair cabin crew to ballot for strike after mass dismissal

    2020-07-18T13:51:00Z

    Icelandair’s cabin crew union has called a ballot to vote for strike action following the failure of talks over a new collective agreement, after which the airline sacked all its flight attendants. The proposed strike would be indefinite and begin on 4 August, subject to a confirmation vote to ...

  • Icelandair 767
    News

    Icelandair orders pilots to take over after dismissing all its cabin crew

    2020-07-17T17:15:00Z

    Icelandair Group is dismissing its entire cabin crew corps and placing the responsibility for on-board safety with Icelandair’s pilots, after efforts to reach a new collective bargaining agreement failed. Cabin crew members with the FFI union rejected a tentative agreement on 8 July and Icelandair Group says subsequent talks ...

  • Icelandair Boeing 737 Max
    News

    Tentative Icelandair cabin crew deal falls through

    2020-07-09T18:43:00Z

    Cabin crew members at Icelandair Group have voted against a provisional collective bargaining agreement that was struck between the airline and flight attendant union FFI in June. The carrier says it will “evaluate its options” after union members “declined” the pact, an important part of its restructuring plan. ...

  • Icelandair 737 MAX 9-640
    News

    Icelandair delays share issue to August as crucial talks go on

    2020-06-29T10:48:00Z

    Icelandair Group has deferred a planned share offering until August, as it strives to reach stakeholder agreements on which the stock issue is conditioned. The company had been aiming to seal these agreements by 29 June, a date already pushed back by two weeks from the original mid-June estimate. ...

  • Icelandair 767
    News

    Icelandair reaches crucial restructuring pact with cabin crew union

    2020-06-25T07:23:00Z

    Icelandair Group has achieved a breakthrough in its restructuring efforts, with a provisional productivity agreement with cabin crew representatives. While the company had reached new deals with its pilots and aircraft mechanics, cabin crew union FFI was holding out and Icelandair Group was pessimistic over progress. But it ...

  • Icelandair 737 MAX 9-640
    News

    Icelandair rejigs restructuring timeline as crucial talks continue

    2020-06-16T06:50:00Z

    Icelandair Group has pushed back by two weeks a provisional deadline for reaching restructuring agreements with various partners, forcing it to revise the timeline for a planned share offering. It has notably yet to reach a deal with cabin crew representatives, and the company is expressing “concern” that no ...