newstodate.aero
Aug 13, 2020 (newstodate): A key element in Icelandair's efforts to reach agreement with all creditors, a solution has been reached with Boeing on the MAX delivery issues.
-While the details of the final settlement agreement with Boeing are confidential, it reduces Icelandair's MAX purchase commitment by four aircraft, a stock exchange statement reads.
-The parties have agreed to a revised delivery schedule for the remaining six MAX aircraft that are expected to join Icelandair’s fleet from Q2 2021 to Q1 2022. Furthermore, the settlement provides additional compensation for Icelandair which covers a substantial portion of the damages incurred from the suspension and will mostly be realized by Q2 2021.
Initially, Icelandair went for a cancellation of all 10 Boeing 737 MAX deliveries pending, so the agreement with Boeing represents a partial success, at least.
Stuck on ground now are five Boeing 737 MAX 8 and one Boeing 737 MAX 9 aircraft.
The carrier is in dire financial straits due to the serious financial problems with, first, the grounding of the Boeing 737 MAX fleet since March 2019 and, next, the outbreak of coronavirus bringing almost all flights to a full-stop since March 2020.
-While the details of the final settlement agreement with Boeing are confidential, it reduces Icelandair's MAX purchase commitment by four aircraft, a stock exchange statement reads.
-The parties have agreed to a revised delivery schedule for the remaining six MAX aircraft that are expected to join Icelandair’s fleet from Q2 2021 to Q1 2022. Furthermore, the settlement provides additional compensation for Icelandair which covers a substantial portion of the damages incurred from the suspension and will mostly be realized by Q2 2021.
Initially, Icelandair went for a cancellation of all 10 Boeing 737 MAX deliveries pending, so the agreement with Boeing represents a partial success, at least.
Stuck on ground now are five Boeing 737 MAX 8 and one Boeing 737 MAX 9 aircraft.
The carrier is in dire financial straits due to the serious financial problems with, first, the grounding of the Boeing 737 MAX fleet since March 2019 and, next, the outbreak of coronavirus bringing almost all flights to a full-stop since March 2020.