newstodate.aero

Oct 23, 2023 (newstodate): Icelandair is doing well in the passenger market - but less well in cargo business, measured by financial results.
   According to the latest Q3/2023 report, the Group's cargo operation has been "very challenging" in 2023 due to difficult market conditions at the same time as Icelandair has invested in more capacity.
   Icelandair Cargo has now two Boeing 767-300ER converted freighter aircraft in the fleet; the latest delivery took place only on April 18, 2023, after cargo conversion by ST Aero’s center at Singapore’s Paya Lebar Airport.
   After redelivery of the two Boeing 767-300 aircraft, two Boeing 757 freighters now in the fleet of Icelandair will be retired in 2023 and 2024, respectively, as their lease periods expire.
   Icelandair is however now to take various actions to return to profitability, adjusting capacity to demands in the market.
   The Boeing 757 cargo aircraft will be returned earlier than planned to lessor, and efforts will be strengthened to seek ACMI projects for one of the two Boeing 767 freighters.
   Since September 15, 2023, Icelandair Cargo has searched for a new Managing Director Cargo as Gunnar Mar Sigurfinnsson, in the position for 15 years, decided to step down with immediate effect.
   As an interim solution, Einar Mar Gudmundsson, director of Icelandair's technical department, fills both seats until a permanent successor has been named.