Published: 2011-12-20 18:30:34 CET
Icelandair Group hf.
Company Announcement

Icelandair Group purchases two Boeing 757 200 aircraft

Icelandair Group has purchased two Boeing 757 200 aircraft which the Group previously had on a long term lease. It was decided to acquire the aircraft from the Lessor due to the favourable purchase price being offered.  The majority of the purchase price was financed with a loan of roughly 24 million USD with the maturity of 6 years.  The two aircraft have been used in Icelandair´s route network and they will continue to operate within that network.  Björgólfur Jóhannson President and CEO of Icelandair Group: “Given the estimated usage time of the aircraft the net effect of the acquisition on the Group accounts will be positive, which was a leading factor in the decision.”

For further information, please contact:

Björgólfur Jóhannsson President and CEO, Icelandair Group, tel. +354-896-1455
Bogi Nils Bogason, CFO, Icelandair Group, tel. +354-665-8801