All Icelandair articles – Page 3
-
News
Icelandair turns in profitable third quarter despite virus variant impact
Icelandair Group has defied the impact of new coronavirus variants to post a net profit of nearly $20 million for the third quarter. The operator expanded its network in the three months to 30 September to cover 34 destinations – comprising 23 in Europe and 11 in North America. It ...
-
News
Icelandair seals financing agreements for last three 737 Max deliveries
Icelandair Group has entered financing agreement covering three more Boeing 737 Max twinjets. The agreement with lessor Aviation Capital Group centres on two 737 Max 8s – which will be covered by sale-and-leaseback – and a single Max 9, which will be under a finance lease. Icelandair’s arrangement will complete ...
-
News
Icelandair Group’s chief operating officer steps down
Icelandair Group’s chief operating officer Jens Thordarson has resigned from his role.
-
News
Icelandair trims winter capacity outlook as restrictions stifle demand
Icelandair has reined-in its capacity forecast for the winter season, as a result of continuing constraints on demand caused by travel restrictions. The airline says it expects to operate 65% of its production for the winter schedule, measured against 2019 levels. It had previously estimated that it would reach a ...
-
News
Icelandair praises 737 Max performance as it ramps up operations for second half
Icelandair has seven of its nine Boeing 737 Max jets in service and expects to bring the other two into operation by late August. The carrier is also planning to take another Max 8 and Max 9 in the fourth quarter, and another Max 8 – the last of ...
-
News
Investor Bain Capital backs Icelandair with plan to take 16.6% stake
Investment firm Bain Capital is to take a 16.6% share in Icelandair Group, through the IcKr8.1 billion ($66 million) acquisition of new shares in the company. Bain Capital has entered a binding agreement to subscribe to 5.66 billion new shares. Its acquisition is conditional upon shareholders agreeing to ...
-
News
Icelandair Group finance chief steps down after two years
Icelandair Group has named Ivar Kristinsson as its interim chief financial officer, following the decision by Eva Soley Gudbjornsdottir to step down from the post after two years. Gudbjornsdottir has overseen the group’s finances, steering it through the impact of the pandemic, since succeeding Bogi Nils Bogason – who ...
-
News
Icelandair Group reaches tentative agreement to sell tour operator
Icelandair Group and tour specialist Nordic Visitor have reached a heads-of-terms agreement over the sale of the group’s entire shareholding in tour operator Iceland Travel. The company, which wholly-owns Iceland Travel, disclosed earlier this year that it would divest the division as part of its focus on core flight ...
-
News
Cargo proves strong as Icelandair awaits passenger traffic recovery
Icelandair Group has highlighted cargo activity as a strong performance area in the first quarter, a period in which the company generated a net loss of just over $30 million. Revenues for the first three months of the year reached $57.3 million, a decline of 73%, but the company ...
-
News
Icelandair unconcerned after volcano erupts near Keflavik hub
Icelandair believes a volcanic eruption which commenced near Reykjavik’s Keflavik airport will have only a limited effect on the flag-carrier’s operations. The eruption is close to the Fagradalsfjall peak some 20km south-east of the airport, which serves as Icelandair’s hub. According to the Icelandic Met Office it began ...
-
News
Single Icelandair brand to cover Air Iceland Connect operations
Icelandair Group is bringing its regional carrier Air Iceland Connect under the single brand of the parent airline, in a bid to simplify its operations. The integration will take effect from 16 March, says the company, with the international network of Icelandair being combined with domestic links and the ...
-
News
Two Icelandair 767s to be converted to freighters in leaseback deal
Icelandair Group has reached a sale-and-leaseback agreement for a pair of Boeing 767-300ER which will be converted into freighters. The aircraft are being sold to Atlas Air Worldwide Holdings’ associated joint venture Titan Aircraft Investments. Icelandair Group says the 767s will be converted in spring next year and ...
-
News
Icelandair returns Boeing 737 Max to revenue service
Following the lifting of the 737 Max’s grounding, Icelandair has resumed commercial flights using the Boeing narrowbody after a nearly two-year break.
-
News
Icelandair focuses on cash preservation as pandemic resurgence bites
Icelandair transported just 14,000 passengers during December 2020, but even this figure was more than the October and November totals combined. Fourth-quarter revenues for Icelandair Group amounted to just $60 million to 31 December, down by more than 80%, while pre-tax losses for the period reached $97 million. ...
-
News
Optimistic Icelandair sees spring return for 737 Max
Icelandair Group is optimistic that it will be able to start ramping-up its network in the second quarter of this year, and intends to return its Boeing 737 Max fleet to service in spring. The company has six 737 Max jets which have been grounded for nearly two years. ...
-
News
Icelandair Group to divest tour operator following hotel sale
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 ...
-
News
Icelandair agrees sale-and-lease of two more 737 Max jets
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 ...
-
News
Icelandair to withdraw and part-out batch of 757-200s
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 ...
-
News
Icelandair uses Boeing compensation to offset new 737 Max expenditure
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 ...
-
Analysis
Icelandair plans for 30% capacity cut in summer 2021 schedule
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 ...