Sale of three Boeing 757 plane Iceland Inventory Alternate:ICEAIR

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Icelandair has reached an agreement to sell three Boeing 757-200 aircraft. The final documentation is expected to be ready in the coming weeks. The aircraft is then converted into cargo aircraft. The net selling price of the three aircraft is approximately $ 21 million, which is $ 2-3 million above book value. Two of the planes were manufactured in 1994 and one in 2000. The transaction is in line with the company’s plan to phase out the Boeing 757 aircraft in its fleet.

Bogi Nils Bogason, President and CEO:

“The sale of the three Boeing 757 aircraft is a positive step for the company at this time when flight operations are at a minimum. In addition, this transaction shows that after many years of service to the company, the 757 aircraft still has significant value and will continue to operate for years to come. Due to the COVID-19 pandemic, the company is storing excess aircraft despite the sale of these three aircraft, which will be operational when travel restrictions are lifted and demand for air travel rises again. “

Contact information

Investors: Iris Hulda Thorisdottir, Director Investor Relations. Email: iris@icelandairgroup.is
Media: Sigrún Össurardóttir, communication. Email: sigruno@icelandair.is

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