Annual and Sustainability Report 2022


Icelandair has a flexible fleet that marries commonality with varying sizes, capabilities, and ownership costs. At year end 2022, the Group's fleet comprised a total of 48 aircraft, thereof, 9 aircraft assigned to LoftleiĆ°ir-Icelandic and 3 aircraft to Icelandair Cargo. Out of these 48 aircraft in total, sixteen are classified as operating leases. The fleet will continue to grow in 2023, and the number of aircraft in operation by summer 2023 will be 50.

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Type Icelandair Cargo Leasing Fleet 31.12.22 Owned Leased Change from 31.12.21
B757-200 10 2 5 17 15 2
B757-300 2 2 2
B737 MAX 8 12 12 4 8 6
B737 MAX 9 4 4 1 3 1
B767-300 3 1 2 6 4 2
B737-800 1 1 1
DHC-8 Q200 3 3 3
DHC-8 Q400 2 1 3 3
Total 36 3 9 48 32 16 7

Fleet composition 2019-2023

Av. age of fleet 2018



Av. age of fleet 2023



Icelandair has invested USD 720 million in fleet renewal in the international passenger network since 2018 with older aircraft phased out for more fuel efficient and environmentally friendly B737 MAX.

40 aircraft serving the Icelandair network in summer 2023

In summer 2023, a total of 40 aircraft will be utilized in the route network, five more than in summer 2022. The international routes will be served by 13 B757 aircraft, 3 B767 aircraft, and 18 B737 MAX aircraft. The domestic and regional flights will be operated with 6 DHC aircraft.

Icelandair operates flight simulators for Boeing 757, Boeing 767, and Boeing 737 MAX aircraft at the Company's training facility in Iceland. The facility is well utilized year-round, for Icelandair and several other airlines.

Fleet renewal program continues

2022 was an eventful year for fleet renewal in the international network. Icelandair took delivery of seven 737 MAX aircraft. That included the last three aircraft from the Boeing order which the Company placed in 2013 as well as four 737 MAX aircraft from other sources. Further four 737 MAX aircraft will enter the fleet in 2024, two before summer and two in fourth-quarter.

The future fleet strategy of Icelandair has been thoroughly reviewed in recent years, where options for fleet renewal and growth have been carefully identified. These re-fleeting options include the 737 MAX as well as the Airbus A320 family. Dialogue with the respective aircraft manufacturers is ongoing with the intention to secure a delivery stream of aircraft throughout the decade. The conclusion of those discussions is expected to be outlined during the first half of this year.