newstodate.aero
JAN 13, 2005 (newstodate): Icelandair has embarked on a new business venture: aircraft dry leases.
As a first move the company bought three used B737-500 from Air Lingus and leased them to airBaltic on a five year contract.
In an announcement to the Icelandic Stock Exchnage, Icelandair says it started a search for good aircraft about six months ago with the intention of leasing them to a third party.
The aircraft purchase was financed by the Icelandic bank Islandsbanki. Icelandair owns 49 percent in the new venture and others the remaining 51 percent.
A co-operation has been established with experienced aviation seniors including Gunnar Bjorgvinsson and others in Lichtenstein.
As a first move the company bought three used B737-500 from Air Lingus and leased them to airBaltic on a five year contract.
In an announcement to the Icelandic Stock Exchnage, Icelandair says it started a search for good aircraft about six months ago with the intention of leasing them to a third party.
The aircraft purchase was financed by the Icelandic bank Islandsbanki. Icelandair owns 49 percent in the new venture and others the remaining 51 percent.
A co-operation has been established with experienced aviation seniors including Gunnar Bjorgvinsson and others in Lichtenstein.