Icelandair Group and Boeing finalize orders for 737 MAX

2/13/2013 4:24 AM EST

Icelandair Group hf.
Company Announcement

Icelandair Group and Boeing finalize orders for 737 MAX

Agreement includes sixteen firm orders and eight purchase rights

On the 6th of December last year Icelandair Group and Boeing signed a
commitment for Boeing 737 MAX aircraft. The agreements have now been finalized.
 Icelandair Group has made sixteen 737 MAX 8 and 737 MAX 9 firm orders as well
as purchase rights for eight additional 737 MAXs.  The order, originally
announced as commitment for twelve aircraft has been increased to sixteen
aircraft and the purchase rights will amount to eight aircraft instead of
twelve.  The aircraft will be delivered in 2018-2021.  The value for all
sixteen aircraft is USD 1.6 billion at Boeing list prices, but actual purchase
price is confidential. 

“We are pleased to announce that we have finalized agreements on firm orders
for 737 MAX.  This will further strengthen our business and increase our
flexibility and capability for growth. The first aircraft is scheduled to be
delivered in the first half of 2018 and the aircraft will be operated alongside
with the Company’s current fleet of Boeing 757’s.” Says Björgólfur Jóhannsson,
President and CEO of Icelandair Group. 

The order is for nine 737 MAX 8 airplanes for 153 passengers and seven 737 MAX
9 aircraft which hold 172 passengers.  In comparison Icelandair Group’s current
Boeing 757-200 aircraft hold 183 passengers. Boeing 737 MAX is a new, improved
and longer reaching version of the present Boeing 737’s. Fuel savings compared
to Icelandair present fleet of Boeing 757 is more than 20% per seat. 



For more detailed information please contact:

Björgólfur Jóhannsson, President and CEO of Icelandair Group, tel: +354 896-1455
Bogi Nils Bogason, CFO Icelandair Group, tel: +354 665-8801