Icelandair Shrinks Fleet Due To COVID

Icelandair has sold three of its 29 Boeing 757-200s. The aircraft have become obsolete due to the corona crisis, and are yielding the Icelandic airline some 21 million dollars. The Boeing 757’s are being converted into cargo planes.

The Boeing 757’s were scheduled to be replaced by Boeing 737 MAX-8 aircraft. However, as the 737 MAX is still grounded, the airline is not yet able to replace the aircraft leaving their fleet.

The Boeing 757 is the backbone of the Icelandair fleet, and is used on flights to Europe and North America. Due to the corona crisis, the three units sold were no longer needed. The sale also provides Icelandair with a much needed financial injection.

Icelandair is hit very hard by the travel restrictions set by European countries as well as the United States. The Icelandic airline focussed on offering flights from Europe to the United States and back, with a transfer in Iceland. As there is little demand for such flights, the Icelandic airline is struggling to make ends meet.

After the sale, Icelandair will be left with 26 Boeing 757-200s. Two of them are freighters. In addition, the airline owns two larger Boeing 757-300s, six Boeing 767-300ERs and six Boeing 737 MAXs.