Icelandair Group, the owner and holding company of the airline Icelandair, agreed on a full asset management contract with AvAir, the inventory solutions provider for the aviation aftermarket.

Under the contract, AvAir would supply Icelandair with a wide range of Boeing aircraft material including spare parts for Boeing 757, 767, 737 NG, and 737 MAX jets. On October 19, 2020, the company announced that the parts would be stored in AvAir facility in Dublin, Ireland. AvAir stated that many required parts were already in stock and more of them would arrive at the facility soon.

“Creating new relationships has always been critical to AvAir, but the pandemic has made them more important than ever,” speaking about the new agreement outlined Mike Bianco, the CEO of AvAir. “Many airlines are looking for creative inventory solutions during this time of uncertainty and it is an honor to work together and custom-fit solutions to meet these challenges,” Bianco added.

Fjalar Scott, the Vice President of AvAir Sales for Europe, the Middle East and Africa, said that adding the parts to the company’s inventory in Dublin would allow AvAir to quickly provide all the material needed to Icelandair and would in turn help to boost the local economy. “We’re thrilled to begin this partnership with Icelandair,” said Scott.

Icelandair Group has a total of 52 aircraft in its fleet of which 41 are owned by the company. Icelandair operates 32 Boeing aircraft, mostly the Boeing 757-200 type. The airline also handles Boeing  737 MAX 8, the 737 MAX 9 and Boeing 767-300 jets.