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Icelandair calls off delivery of Airbus A330-200F aircraft
Apr 11, 2008 (newstodate): Icelandair Cargo has decided to back out from its agreement with Avion Trading to lease four Airbus A330-200F freighters, due to arrive in 2010/2011.
-The general economic uncertainty, a slowdown in world trade and the current high costs of capital has forced Icelandair to negotiate an exit from the agreement, says Petur J Eiriksson, Icelandair Cargo managing director.
-This does indeed leave Icelandair Cargo with a problem, and we will now have to revise our five-year strategy plan based on continued use of our existing fleet of five Boeing 757-200F aircraft.
-Icelandair Cargo today generates 80 percent of its volumes in the Icelandic market, which is a very vulnerable and risky situation, given the limited size of the Icelandic economy. The strategy that was earlier confirmed called for a reduction of this share to 30 percent, while 70 percent of the volume should be aggregated outside Iceland, says Mr Petursson.
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