Loftleiğir Icelandic was established in 2002 as a subsidiary of Icelandair Group predecessors to provide services and solutions to passenger airlines and tour operators on a global scale. By re-entering the international charter operations that had been a part of Icelandair´s operations for decades, was able to better utilize its resources such as crews, maintenance etc.
The company has developed from focusing mainly on the sales and marketing of Icelandair’s winter surplus capacity and then offering just standardized ACMI or full charter solutions by adjusting to each client’s specific requirements. The company now offers a greater variety of services and products, ranging from Dry Lease, ACMI (Aircraft, Crew, Maintenance & Insurance), Aircraft with Full Maintenance and full charter solutions for tour operators, as well as brokering services and technical consultancy.
In early 2006, the company bought a majority of the shares in the Latvian charter operator Latcharter Airlines as part of Loftleiğir Icelandic’s strategy to strengthen its position in the Baltic and CIS region and add the Airbus family into its worldwide ACMI product line, thereby expanding its horizon beyond the aircraft types traditionally operated under the Icelandair Air Operator’s Certificate. In 2007 Loftleiğir Icelandic acquired the remaining shares of Latcharter Airlines.
The company currently operates and manages contracts in Europe, Africa, North and South America and successfully entered new markets in the South Pacific and the CIS in 2007 with new contracts in Papua New Guinea and Yakutia, making its operations truly global.
Loftleiğir Icelandic has established itself as a top class VIP operator serving one of the most prestigious operators in the USA, A&K (Abercrombie & Kent), by operating first-class flights around the world where all seats are business class.
The company currently has six Boeing 757-200 and two Boeing 767-300ER aircraft. Its subsidiary, Latcharter Airlines, has expanded its fleet from two Airbus 320 aircraft in early 2006 to seven Airbus 320s and two Boeing 767-300s in 2007.
Current market conditions are favourable in both the wide- and narrow body market due to a continuing lack of aircraft availability. The wider range of products and services offered by the company, combined with its extensive market knowledge and network, puts it in a good position within its segment of the market.
The company has, furthermore, strategically widened its market and successfully entered new and heavily legislated markets such as the CIS (Commonwealth of Independent States). Additionally, the company has increased its AM (Aircraft, Maintenance) activities, which has enabled it to enter into long-term contracts and projects with increased profitability.
Loftleiğir Icelandic will continue to secure continued growth in both revenue and profitability by further utilizing its extensive sales & marketing network and know-how, and benefiting from its continually growing brand recognition within the market. The company is perceived as being a strong partner offering flexibility, innovation, reliability and experience.