newstodate.aero

Oct 04, 2021 (newstodate): Icelandair has concluded an agreement with Aviation Capital Group regarding the financing of three Boeing 737 MAX aircraft.
   The agreement comprises a sale and leaseback of two Boeing 737 MAX 8 aircraft and the financial lease of one Boeing 737 MAX 9 aircraft, scheduled for delivery in December 2021 and January 2022.
   This agreement thus replaces an earlier backstop financing in place for these three aircraft, and with this transaction with ACG, Icelandair has completed financing of all 12 Boeing 737 MAX aircraft originally ordered from Boeing in 2013.
   Actually, Icelandair placed orders for a total of 16 Boeing 737 MAX aircraft, but reached an agreement with Boeing in August 2020 to cut back the order to only 12 aircraft as part of the settlement to alleviate the problems by the grounding of the aircraft type after two serious and fatal accidents.