Avolon

The Icelandic airline's sole aircraft, an Airbus A319, had been withdrawn from service earlier this year by Hi Fly, who had wet-leased the craft to Niceair.

Lessor Avolon will take 40 Boeing 737 MAXs from the OEM toward the end of this decade, in a switch from its recent method of acquiring the type.

The Akureyri-based carrier has canceled all flights due to a dispute over lease payments between wet-lease specialist Hi Fly and lessor Avolon.

Avolon reported a favorable start to 2023 on the reopening of China, while pointing to a continued shortage of new aircraft also fueling demand.

Without the support of lessors during the pandemic, many airlines would not be around anymore. But as the industry rebounds, lessors hope for better returns.

Despite rising interest rates and major uncertainty in terms of geopolitics and aircraft supply, lessor executives at ISTAT Americas were full of optimism.

Ireland-based lessor Avolon believes the coming year offers good prospects, with China acting as the driving force behind broader growth.