Icelandair Group does not expect Boeing 737 MAX back into service until May 2020

Icelandair has updated its flight schedule as it does not expect the Boeing 737 MAX back into service until May 2020. This decision has minimum impact on passengers and on Icelandair’s flight schedule for this period. Due to the MAX suspension, Icelandair will keep more Boeing 757s in operation in 2020 than originally planned. In addition, the Company has entered into a leasing agreement regarding two Boeing 737-800 NG that will be part of the fleet from next spring and is working on leasing in the third aircraft.

As announced, Icelandair Group has reached interim agreements with Boeing regarding compensation for the Company’s financial loss resulting from the suspension. Continued discussions with Boeing regarding further compensation are still ongoing.

Icelandair will continue to monitor any developments on the extensive process led by international aviation authorities that aims at ensuring the Boeing 737 MAX’s safe return to service.