Fleet

Icelandair Group´s fleet comprised at 31.12 2019 a total of 52 aircraft, of which 41 were owned by the Company.
Aircraft typeIcelandairCargoLoftleiðirAir IcelandTotal
31.12.19
OwnedLeased
B757 200 20 2 7   29 26 3
B757 300 2       2 2  
B737 MAX 8 5       5 2 3
B737 MAX 9 1       1   1
B767 300 4   2   6 5 1
B737 700     1   1   1
B737 800     3   3   3
Bombardier Q200        3 3 3  
Bombardier Q400        3  3  3  
Total 32 2 11 6 51 41 10

 

The Company made in 2012 an order for sixteen B737 MAX8 and B737 MAX9 aircraft, with an option to buy an 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 Compan, their financing that had previously been secured has now expired.y received acceptable discounts which, due to confidentiality agreements, cannot be disclosed. The order was for nine B737 MAX8 aircraft, with a seating capacity of 160 passengers, and seven B737 MAX9 aircraft, with a seating capacity of 178 passengers in Icelandair’s configuration.

The B737 MAX aircraft are a new and improved version of the B737 NG aircraft. They are fitted with new and more efficient engines, which will reduce fuel consumption by 27% per seat in comparison with the B757-200 aircraft currently used on the Company’s international routes.

In 2018 a delivery was taken of three of the B737 MAX8 aircraft. Two of the aircraft were financed by JOLCO’S (Japanese Operating Leases with Call Options) and one aircraft by sale and leaseback. In 2019, Icelandair took delivery of two Boeing 737 MAX8 and one Boeing 737 MAX9. They were all financed through sale lease back agreements.

In the second quarter of 2019, Icelandair was expected to take delivery of additional three Boeing 737 MAX aircraft, i.e. one Boeing 737 MAX8 and two Boeing 737 MAX9. However, due to the suspension of the Boeing 737 MAX which was initiated in March 2019 and still persists, the delivery dates of these aircraft and all deliveries of future aircraft is still uncertain. Icelandair has already secured financing through sale leaseback agreements of one Boeing 737 MAX8 aircraft which was to be delivered in 2019 and one Boeing 737 MAX aircraft of the 2020 delivery schedule. Due to delay in delivery of the two 737 MAX9 aircraft that were to be delivered in in 2019, their financing that had previously been secured has now expired.