The agreement includes the sale and leaseback of two Boeing 737 MAX 8 and a finance lease of one Boeing 737 MAX 9. The aircraft are scheduled for delivery in December 2021 and January 2022.

As previously announced, Icelandair had backstop financing for these three aircraft which will not be exercised. Following this transaction, Icelandair has completed the financing of all the twelve 737 MAX aircraft initially ordered from Boeing in 2013.

Bogi Nils Bogason, President & CEO of Icelandair Group: „Icelandair is delighted to team up with ACG, a long-lasting business partner, on this transaction. The campaign we ran for this financing resulted in favorable terms that both show the faith that financiers have in the value and the opportunities of the aircraft, as well as in the strength of Icelandair and its business model.“