Icelandair is removing 757-200s from its fleet and will soon sell three for conversion into freighters.
According to the company, the net sale price of the three aircraft — two of 1994 vintage and one manufactured in 2000 — is $2-$3 million above book value at approximately $21 million. The transaction is expected to close in the coming weeks.
Icelandair, which currently operates two 757-200Fs, told Cargo Facts it had not considered converting the 757s for its own use.
The carrier has four 757-200s built in 1994 and another four in 2000:
- 26242, in service;
- 26243, in service;
- 26244, parked in Reykjavik (KEF) since March; and
- 26245, parked at the KF Aerospace facility in Kelowna (YLW) since March.
- 29310, at KEF since February;
- 29311, in service;
- 30423, at YLW since February; and
- 30735, at KEF since April.
Precision Aircraft Solutions told Cargo Facts the aircraft sold are predicted to have 2,000-3,000 cycles remaining, with European-standard avionics, winglets, high-spec operating weights and well-managed engines. Precision said it will always look forward to converting well-maintained Icelandair jets with impeccable records.
Of Icelandair’s two 757-200Fs, one (24456, ex-Challenge Air Cargo) was delivered as a freighter by Boeing in 1989, while the other (24739) was converted by Precision.
The carrier previously operated a larger fleet with four more 757-200Fs, and five of its passenger 757s have gone on to become freighters for Blue Dart, DHL Air and FedEx.
The 757 continues to be the subject of interest from freighter operators and lessors, particularly as airlines look to retire them from their passenger fleets amid the downturn. AerSale recently acquired a batch of twenty-four withdrawn by American Airlines earlier this year and plans to convert a number of them, while SF Airlines expects to take redelivery of around two more by the end of the year. Spain-based Swiftair and Russia-based Aviastar-Tu have also recently taken newly converted frames on lease from Airwork.
Precision had recently told Cargo Facts it expects to convert and redeliver around sixteen 757-200s in 2021, compared to ten or eleven this year.
Meanwhile, Icelandair is reportedly having four other 757s parted out, with the first frame (25295) ferried from KEF to Kansas City (MCI) Oct. 8. The airline’s 757 fleet most recently consisted of two -200Fs, twenty-three -200s and two -300s.
[Edited to add comments from Icelandair and Precision.]
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