Icelandair signed a long-term lease agreement for one Airbus A321LR aircraft scheduled to be delivered in Q1/26 with SMBC. This will be the fifth A321LR aircraft Icelandair has leased from SMBC. As previously announced, Icelandair signed a contract with Airbus for up to 25 Airbus A321XLR aircraft in July 2023 as well as a long-term lease agreement with SMBC for four new A321LR aircraft.

The Airbus A321LR and XLR aircraft will be the future replacement of Icelandair’s fleet of Boeing 757s. Deliveries of the LR aircraft will begin in 2024, and the XLR deliveries will start in 2029.

“We are very pleased to announce the lease of one more aircraft from our long-term partner, SMBC Aviation Limited,” Bogi Nils Bogason, president and CEO of Icelandair, said. “We have already started entry into service for these efficient aircraft that will replace our Boeing 757s. They will provide exciting opportunities and possibilities to explore new destinations as well as further support our sustainability efforts.”