newstodate.aero

Jan 12, 2024 (newstodate): Icelandair is amid the process of reorganizing its cargo business to match a challenging environment.
   According to the Icelandair Group's Q3/2023 report, the cargo operation has been "very challenging" in 2023 due to difficult market conditions at the same time as Icelandair has invested in more capacity.
   And in its latest earnings forecast, the Icelandair Group deplored the unsatisfactory performance of its cargo arm, stressing the need for a new approach to face industry challenges.
   Part of the ongoing efforts is a downsizing of the freighter fleet to comprise only two Boeing 767-300BCF aircraft after the redelivery of the last two Boeing 757 freighters in 2023 and 2024, as their lease periods expired.
   One of the two Boeing 767-300BCF aircraft will serve with Icelandair, while the second has been placed on the ACMI market and from this week the aircraft has been positioned at Tashkent on a yet-unpublished ACMI/lease contract.  
   At its height, Icelandair Cargo's fleet comprised five Boeing 757 freighter aircraft, and in May 2007 the company even signed an agreement with Avion Aircraft Trading for the lease and purchase of four new Airbus A330-200 freighter aircraft, two of which poised for delivery in the spring of 2010, with the remaining two to follow in 2011.
   However, in April 2008 Icelandair backed down from the LoI, leaving Avion Aircraft Trading with the challenge to off-load the aircraft to other customers.