Icelandair Group - Capital/Financing Update 2022

Icelandair: Lease Agreements of two additional Boeing 737 MAX aircraft

Icelandair has entered into agreements with Dubai Aerospace Enterprise Ltd (DAE), regarding long-term operating leases of two new Boeing 737 MAX 8 aircraft. The aircraft are scheduled to be delivered from Boeing in spring 2022. This transaction will bring the total number of 737 MAX in the Icelandair fleet up to 14 aircraft for next summer.

Bogi Nils Bogason, CEO of Icelandair Group: “We are very pleased to announce the new agreements with DAE, a long-lasting business partner. With favorable conditions in commercial aircraft markets, and the continued ramp up of our route network we saw an opportunity and need to expand our fleet of Boeing 737 MAX. The aircraft have proved to perform even better than expected, both in terms of flight range and fuel-efficiency which will also contribute to our efforts of reducing the carbon emissions from our operations.”

Contact information

Investors: Iris Hulda Thorisdottir, Director Investor Relations. E-mail: [email protected]

Media: Asdis Petursdottir, Director Communications. E-mail: asdis@icelandair.is