Turning point in Icelandic aviation history Skip to content

Turning point in Icelandic aviation history

Icelandic aviation company Avion Aircraft Trading (AAT) reached an agreement with European company Airbus in Toulouse, France, yesterday on the construction of six new airplanes. It is the first company to work with Airbus in the history of aviation in Iceland.

According to Fréttabladid, Icelandic aviation companies have only cooperated with American company Boeing on the construction of airplanes in the past and therefore this agreement can be considered a turning point for aviation in Iceland.

The construction of the six Airbus A330-200F transport airplanes is scheduled to finish in 2010 and 2011. Morgunbladid estimates the cost of each aircraft to be ISK 6.7 billion (EUR 76 million, USD 98 million).

AAT invests in airplanes and rents or sells them to airlines. The company has already purchased 27 airplanes, including eight new Boeing 777 airplanes to be delivered in 2009.

Icelandic shipping company Eimskipafélag Íslands owns a 49 percent share in AAT. The remaining 51 percent is owned by various directors and investors, including two Icelanders, Arngrímur Jóhannsson and AAT CEO Hafthór Hafsteinsson.

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