Some airlines are disclosing their results for the quarter, these results are widely expected due to the moment that aviation is going through. Now Icelandair has released its results and forecasts for the year 2021.
The company disclosed the results after having entered into an agreement with Boeing with compensation for the stoppage of the 737 MAX. In addition, the company reduced its orders from 16 aircraft to 12, with that Icelandair expects to receive more aircraft from 2021.
The re-certification of the 737 MAX is highly anticipated, the aircraft has become a mainstay for many companies around the world. As we reported yesterday, there are over 400 737 MAX aircraft already built and almost ready for delivery. After the new certification of operation of the plane, all of these will have to go through the updates.
Icelandair already has 6 Boeing 737 MAX, 5 of the -8 version and 1 of the -9 version. The company expects to receive 3 more aircraft by the second quarter of 2021 and 3 more in the fourth quarter.
With only 9% of its operations, the company reported that its number of engers transported fell by 90%. Revenue fell by around 81%, with the operation completely reduced, the company gained breath in cash and managed to balance its operating revenues. Among the reasons is the compensation agreement made with Boeing.
