Icelandair to expand its 737 Max fleet to 20 aircraft with new lease agreement

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Icelandair will add two new Boeing 737 MAX 8 aircraft to its fleet following an agreement with Singapore-based lessor BOC Aviation (BOCA).  

The aircraft, which will be leased under long-term operating leases, are scheduled to be delivered in the fall of 2023, according to a statement released by Icelandair 

“This transaction will bring the total number of 737 MAX in the Icelandair fleet up to 20 aircraft,” the statement continued.  

Bogi Nils Bogason, CEO of Icelandair Group said: “We are pleased to announce the new agreements with BOCA, a long-lasting business partner. Locking in these aircraft on favorable terms enables the company to expand our fleet of Boeing 737 MAX and supports our future growth plans.” 

“The aircraft offer excellent fuel-efficiency from previous generation aircraft which also contribute to our efforts of reducing the carbon emissions from our operations,” Bogason added.  

The news follows an earlier statement released by the airline in June 2022, announcing its intent to purchase four Boeing 737 MAX aircraft. The aircraft were built in 2018 and are scheduled to be delivered in the fall of 2022, the airline said.  

The MAX had proven to be a “good fit” for Icelandair’s route network, Bogason said in the earlier statement.  

“We have been ramping up our operations, expanding our strong route network that connects Europe and North America via Iceland. This summer we offer direct flights from Iceland to 44 destinations, up to five times a day. This addition to our fleet allows us to further increase our services by adding new destinations and increasing frequency to our current destinations,” Bogason added.  

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Michael Jonga
Journalist[br][br]Michael joined AeroTime in 2021. He is a presenter and journalist working across our editorial, campaigns and content teams. Prior to joining AeroTime, he worked in Communications and completed a degree in Aeronautical Engineering. Michael’s work in aviation has led to recognition in his native Zimbabwe, where he was recognised at the 2021 Zimbabwe Achievers Awards. He is now based in Vilnius, Lithuania.
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