Engine Lease Finance and Icelandair close spare LEAP-1B SLB


Engine Lease Finance and Icelandair are pleased to announce the completion of their first LEAP-1B spare engine Sale and Leaseback transaction together.

Following this new delivery from CFM, Shane O’Callaghan (Commercial, Marketing & Sales – EMEA & Canada) commented:

“We at ELF are delighted to have completed this transaction with Icelandair and to have established an important partnership with a key new customer. It was also a pleasure dealing with their professional and committed team (most notably Högni Helgason – Head of Fleet Management), and we look forward to watching Icelandair’s continued growth and development based on the airline’s strong business model, a unique growth strategy, and all of this supported and underpinned by the airline’s growing fleet of modern, fuel efficient Boeing 737 MAX aircraft. On a personal level, I am very pleased to have developed a strong relationship with Högni and his team, and I look forward to supporting Icelandair with all of their engine needs for many years to come.”

Högni Helgason, Head of Fleet Management at Icelandair said: “We at Icelandair are pleased to take delivery of this first LEAP-1B spare engine which is important for the operation of our growing fleet of Boeing 737 MAX aircraft. We would also like to thank Shane and the ELF team for their commitment, professionalism, and cooperation throughout the process. We are also pleased to have formed a partnership with ELF, and we look forward to working with their team over the coming years“.

About Engine Lease Finance

Engine Lease Finance (ELF) is the world’s largest independent spare engine leasing company, specialising in the provision of flexible, short to long-term spare engine leasing for the airline industry. ELF offers a comprehensive range of individually tailored leasing-based solutions including:

  • AOG Spare Engine Support
  • Short Term Engine SV Cover
  • Medium & Long Term Operating Leases
  • Spare Engine Purchase & Leaseback
  • Engine Acquisitions & Dispositions
  • Engine & Portfolio Management Services

Please visit www.elfc.com to learn more.

About Icelandair

Icelandair is a leading airline offering flights to, from and within Iceland.  The airline’s unique geographical location midway between North America and Europe provides Icelandair with the opportunity to build an ever-growing network of international routes with Iceland as a hub for cross-Atlantic flights. Icelandair provides safe, reliable flights and exceptional services on flights to metropolitan areas on both sides of the Atlantic.

Please visit www.icelandair.com to learn more.