B767 for Icelandair
 

Hi y'all,

I've read that starting from May 2005, Icelandair will start operating Reykjavik - San Francisco. They will do this with a B767 in a 2 class configuration. Does anybody know if they're going to lease a 767, because as far as I know they only operate B757's. I'm just curious...

Lil' P

Heard on the grape vine that the 767's that AV8 operated was leased from Icelandair. The aircraft in question is TF-FIB and is a 767-300.

Maybe this a/c will be rejoining the Icelandair fleet?

Anyone else know anything about Iceair's 767's?

L'il - I'm cannot see a 767 getting out of Reykjavik. I assume you mean Keflavik?

Isn't that a 767 of Air Atlanta Icelandic, which is leased on an ACMI basis to Volare? It's an Icelandic company allright, but not Icelandair.

Lil' P

BOAC,

sorry you\'re right. It\'s Keflavik indeed.

Lil\' P

B763 TFFIB does indeed belong to Icelandair & was leased to AV8 for a short while for ops out of Manchester. Currently, it is operating for Volare. They also lease a second B763, TFFIA which was/is also operating for Volare.

WNC

Since all Reykjaviks internatinal traffic is out of KEF, yes.......

Icelandair want more of Easyjet
 

Noted while browsing the net. How much of Easy do you reckon Icelandair may eventually take?.

Icelandair May Increase EasyJet Stake, Chairman Smarason Says
Nov. 19 (Bloomberg) -- Icelandair Hf, Iceland's biggest airline, may raise its 10.1 percent stake in EasyJet Plc, Europe's second-largest low-cost carrier, as the industry consolidates amid mounting competition and record oil prices, Chairman Hannes Smarason said.

``If we want to find ways to grow, we have to look beyond Iceland,'' Smarason said in an interview at his Reykjavik office overlooking the city's airport. ``There will be consolidation in the low-cost sector and EasyJet's fundamentals are strong.''

European airlines, including SN Brussels Airlines and Virgin Express Holdings Plc, have merged to cut costs as competition from new and expanding airlines drives down fares and oil prices boost expenses. Prices for jet fuel have risen 54 percent this year and set a record in early October at $557.25 a metric ton.

EasyJet, Europe's No. 2 low-cost carrier after Ryanair Holdings Plc, cut back its capacity-expansion plans for 2005 to counter increased competition, rising oil prices and falling fares. The carrier's pretax profit for the year ended Sept. 30 was more than 60 million pounds ($111 million), at least a 16 percent increase from the year earlier. It reports net income on Nov. 23.

Icelandair, based in Reykajvik, raised 3.8 billion kronur ($57 million) in a share sale Nov. 10. It had about 10 billion kronur in cash and equivalents on hand at the end of Sept. 30, Guthjon Arngrimsson, a company spokesman, said in an interview.

Easyjet spokesman Toby Nichol last month said he is ``pleased that Icelandair sees the long-term value'' of the company. There are no commercial agreements between the two, he said.

Can't understand that myself.

Why don't they buy a decent airline LIKE FlyBe????

Capt J
 

I think you should change your user name to 'I Hate Flybe' so EVERYBODY knows. It may not be enough to hijack every thread.

Icelandair orders 2 B787 and 5 options
 

From a news and staffmeeting today in Iceland, Icelandair announced that it is to buy 2 B787-800 and 5 options. The delivery will be in 2010.

Also on the Boeing web site

Here come the vikings (again)

Icelandair have hired 60 new F/O´s during the last 18 months or so. Rapidly expanding and so is Avion group(AAI,Icebird, Excel)

Not bad for nation of only 280.000!!!:ok:

Icelandair / Sterling
 

It's been reported in the Danish media that the CEO of Icelandair has resigned because of the high price Icelandair is about to pay for taking over Sterling. The negotiations are apparently being handled by the "colorful" chairman of Icelandair - she (the CEO) "did not want to be associated with this deed."

Icelandair?

Or Iceland Express ?

Or do Icelandair own Iceland Express?

Whatever, the rapid expansion of Iceland Express, the takeover of Sterling, who in turn have taken over Maersk Air, all seems to indicate that the owners must have some deep, deep pockets...

Well...so why did 'SHE' allow her company to get into such 'negotiations' in the first place????
But whatever....seems to show that some female top managers have more backbone and scrupels than their male counterparts...(and the ability to recognise poor decisions!)

Cheers!

http://www.borsen.dk/650.79366?PHPSE...4gt2gkuq58c9r2
(in Danish)

Rough (internet) translation:-
The managing director there børsnoterede FL Group Ragnhildur Geirsdóttir , leaving his job by prompt action , discloses the news letter Fussy People. The statement giving Geirsdóttir tuesday evening , and she be the reason vel one decision by , that she no can be honour the circumstances round FL Groups cornering from Sterling Airlines. She discloses , that the chairman to FL Group Hannes Smárason , has have traded entirely egenrådigt , and that she no vil get medansvar by the bargain from that danish airline. Velinformerede sources , there be feel themselves dense at FL Group , intends ascertain , that FL Group shall pay for 1,5 the billion features by Sterling , and that amount is according to Geirsdóttirs concept far by the trustworthy asset from that danish corporation , writing Fussy People.

(Of course Geirsdottir is FEMALE - as any fule no!)

My tidied-up translation:-
The managing director in the stock-exchange-listed FL Group Ragnhildur Geirsdóttir left her job with immediate effect discloses the news letter Travel People. The statement was given by Geirsdóttir Tuesday evening , and she based her decision on, that she no can not accept the circumstances surrounding FL Group's purchase of Sterling Airlines. She discloses that the chairman to FL Group, Hannes Smárason, had acted entirely on his own (advice) , and that she will not take responsibility for the purchase of that Danish airline. Well-informed sources , that find themselves close to the FL Group , ascertain that FL Group shall pay 1,5 billion kroner for Sterling , and that amount is according to Geirsdóttirs concept far over the real value of that danish corporation , writes Travel People.

Errr…

This translation means…Money laundering ? :hmm:

Fundamental changes to the structure of FL Group were agreed this morning by the Groups Board and investments have now become the main focus of the company. Hannes Smárason will become the CEO of the company. Its investment activities will be split into three divisions: Private Equity, specialising in management, acquisition and restructuring projects, headed by Jón Sigurðsson, Asset Management and Portfolio Investments, headed by Albert Jónsson, and Icelease, a division dealing with purchase, sale and leasing on the international aircraft market; this will be headed by Halldór Vilhjálmsson, current managing director of Icelease.

In addition to the changes listed above, it has been decided to divide FL Group’s airline and tourist service operations between two separate subsidiaries. One of these, Icelandair Group, will handle international airline operations, i.e. Icelandair, Icelandair Cargo, Loftleiðir-Icelandic, Bluebird Cargo, Icelandair Technical Services and Icelandair Ground Services. These companies have a combined turnover of ca. ISK 35 billion and employ about 2,000 people. Jón Karl Ólafsson, CEO of Icelandair, has been engaged as CEO of Icelandair Group. “This is a challenging and exciting task and I look forward to meet the challenge with the great staff of the Icelandair Group. These are strong and growing companies”, says Jón Karl Ólafsson.

The companies involved in domestic tourist services, i.e. Air Iceland, Iceland Tour, Icelandair Hotels, Iceland Travel, Reykjavik Excursions and Icelandair-Hertz Car Rental, will come under FL Travel Group; Þorsteinn Örn Guðmundsson, a SVP at FL Group, has been engaged as its CEO. These companies have a combined turnover of c. ISK 11 billion and employ about 500 people. “These are strong independent tourism companies. We will not try to merge their operations, but the aim is to make each one more focused and stronger and I look forward to face that challenge with the leaders and staff of all companies”, says Þorsteinn Örn Guðmundsson.

“These changes are made to clarify the operation focus in each of these companies,” says Hannes Smárason. “The result will be strong companies, each in their own field, with clear targets regarding growth and profitability, under the direction of excellent managers. In addition, a clearer division is made between operations and investing.”

Following the above changes to the structure of FL Group, it has been agreed that Ragnhildur Geirsdóttir will step down as CEO. “In the light of the changes in the structure of the company, the board and I have agreed that the time has come to go our separate ways,” she says. “The past few years have been a very interesting period of transformation at the company, and its operations and profit levels are in very good shape. I should like to thank all the fine people who work at the company for the pleasant time we have had together, and I wish them and the company every success in the future.”

Money talks and you know the rest......

Wel, I thought this was all supposed to have been decided by the self-imposed Icelandair deadline of close of business today. But apparently not.

There were reports in the Danish media - takeoff, travel people - that the top management of Icelandair (the airline) versus Icelandair (the holding group - the two seem to be at war with each other with senior resignations per above) was giving into threats from SAS to cease all co-operation with Icelandair if they went ahead with a takeover of Sterling.

To my mind, there is no clearer evidence of the total failure of SAS management than to have as their no. 1 threat the arrival of Icelandair.... SAS management should just retire and spare Scandinavians their incompetence.

Sterling bought by FL Group (Icelandair)
 

The news just hit: Sterling is being sold to FL Group, the investment group behind Icelandair. The price: 200 mill Euros.

The fact is that by this deal Icelandair strengthens it's position in the European leisure travel market and the low-cost sector. FL Group owns around 11% of EasyJet. It is obvious that they are trying to make the largest lCC in Europe and probably want to merge it with EasyJet someday.

The sellers are expected to have profited in excess of 130 million Euros. Not bad for a few months work.

All the best to Icelandair :)