Icelandair finances two 737 MAX aircraft

Icelandair has entered an insurance backed financing agreement with Itasca Re and NORD/LB for two Boeing 737 MAX 8 aircraft. The aircraft are currently fully owned by Icelandair and were purchased using the airline’s own funds in the fall of 2022. The total consideration of the transaction accumulates to around $67 million with closing anticipated by the end of January 2023. Bogi Nils Bogason, President & CEO of Icelandair Group, said: “Icelandair is delighted to team up with such strong parties as NORD/LB and Itasca Re on this important financing structure. The campaign we ran resulted in favorable terms, which