Icelandair Group´s fleet comprised at the end of March 2016 a total of 45 aircraft, of which 36 were owned by the Company.
Aircraft typeIcelandairCargoLoftleiðirAir IcelandTotal
OwnedLeasedCh. as of
B757 200 22 2 4   28 25 3 2
B757 300 1       1 1   0
B767 300  2   2   4  1 3 0
B737 700     1   1   1 0
B737 800     2   2   2 0
Fokker F-50       4 4 4   0
Bombardier Q200        2 2 2   0
Bombardier Q400        3  3  3    0
Total 25 2 9 9 45 36 9 2


Boeing 767-300 wide-body aircraft added to the fleet
In 2016 the Company added two B767-300 wide-body aircraft seating 262 passengers to the Route Network.  The high passenger load factor on many of the Company's routes year-round, in addition to limits on slot availability at some airports, made the introduction of larger aircraft a feasible option. The new aircraft have greater range than the B757-200 aircraft and their introduction will open up new market opportunities.

An agreement has been signed on the purchase of two additional Boeing 767-300 aircraft. These aircraft will be delivered in the coming months and undergo complete refurbishment, in line with other aircraft in Icelandair fleet. Refurbishment is expected to be completed in early 2017.

New fleet in the regional aircraft operation
In 2015 the decision was made within the Company's regional flight operations to replace the entire fleet of five Fokker 50 aircraft with three Bombardier Q400 aircraft. Following the change, five aircraft will be in the service of the regional flight operations, three Q400s and two Q200s.  The Fokker 50 aircraft will be sold, with the sale of one aircraft already finalised.  The Q400 aircraft will seat 72-76 passengers, as compared to the 50-seat capacity of the Fokker 50 aircraft. The change will simplify and streamline the Company's regional operations, as the number of aircraft will be reduced and a degree of synergy will be achieved with the entire regional fleet being from the same manufacturer.  With the change in the composition of the fleet the Company sees opportunities for expanding into new markets and providing improved services to the current domestic market, as the new aircraft are larger and their flight times is shorter.

Boeing 737 MAX delivered in 2018
The Company has an order of sixteen 737 MAX8 and 737 MAX9 aircraft, with an option to buy  additional eight aircraft. The commitment resulting from the confirmed orders, according to Boeing’s list prices at the date of the contract, amounted to USD 1.6 billion.  The Company received acceptable discounts which due to confidentiality agreements cannot be disclosed.

Delivery of the first aircraft is scheduled for early 2018.  The order is for nine 737 MAX8 aircraft, with a seating capacity of 153 passengers, and seven 737 MAX9 aircraft, with a seating capacity of 172.  For comparison, the Boeing 757-200 aircraft used in the Company's international Route Network seats 183 passengers. 

The Boeing 737 MAX aircraft are a new and improved version of the current Boeing 737. They will be fitted with new and more efficient engines, which will reduce fuel consumption by 20% per seat in comparison with the Boeing 757-200 aircraft currently used on the Company's international routes. 

Boeing 757 aircraft will continue in use, as they have proven extremely well suited for the routes extending from Iceland to Europe and North America. The new aircraft will enlarge the fleet and improve both flexibility and the potential for further growth. They can fly to destinations in North America and Europe, opening new possibilities for increased flight frequency and an increased number of destinations, particularly in the wintertime, which will even out the seasonal fluctuations in the Company’s operations.