Icelandair Group hf.: Sale and Leaseback of two Boeing 737 MAX9 aircraft

Icelandair has entered into an agreement with Sky Aero Management (SKY Leasing) regarding a sale and leaseback of two Boeing 737 MAX9 aircraft. The aircraft are expected for delivery in Q2 2021. The lease period for each aircraft will be 12 years. As previously announced, Icelandair had already agreed on a sale and leaseback financing with BOC Aviation on one Boeing 737 MAX8 aircraft which is expected for delivery in Q2 2021 along with a backstop financing regarding the two aircraft which will not be exercised. However, the backstop financing remains in place for the three Boeing 737 MAX aircraft expected for delivery in Q4 2021 and Q1 2022.