Icelandair Leases Six Airbus A320neo Aircraft from Aircastle

Icelandair has signed lease agreements with Aircastle for six Airbus A320neo aircraft, further advancing the airline’s fleet renewal program and expanding its next-generation Airbus fleet.

The Pratt & Whitney-powered aircraft, manufactured between 2018 and 2020, are scheduled to enter service before summer 2028. The agreement follows Icelandair’s recent lease commitment for four additional A320neos from AviLease, which are due to join the fleet in spring 2027.

Including three Airbus A321LRs scheduled for delivery later this year, Icelandair’s Airbus fleet will grow to 20 aircraft once all 10 newly leased A320neos have entered service. The carrier currently operates seven Airbus aircraft.

The additional aircraft form part of Icelandair’s long-term fleet modernization strategy, which has seen the airline introduce Boeing 737 MAX and Airbus A320 family aircraft while accelerating the retirement of its Boeing 757 and 767 fleets. Icelandair expects to complete the transition by January 2027, when all passenger services will be operated using new-generation aircraft that consume up to 30% less fuel per seat than the aircraft they replace.