Air Atlanta Icelandic
An Icelandic charter and ACMI airline supplying passenger and cargo aircraft capacity to customers worldwide.
Last updated August 24, 2026
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Overview
Air Atlanta Icelandic is an Icelandic charter and ACMI airline headquartered in Kópavogur. Established in 1986 by Captain Arngrímur Jóhannsson and Þóra Guðmundsdóttir, it developed around contract flying rather than a conventional scheduled passenger network. Its core ACMI model supplies an aircraft, crew, maintenance and insurance to another airline or aviation customer, enabling that customer to add capacity without operating the aircraft directly. The company has also undertaken ad hoc charter work, passenger wet leases and cargo operations. The airline’s early development was closely connected with international wet-lease demand. Its first reported contract involved a Boeing 707-320 leased to Caribbean Airways for flights between London and Barbados. During the late 1980s it supplied aircraft to operators including Air Afrique, Sudan Airways, Lufthansa and Finnair. Hajj flying became an important recurring segment, with aircraft later leased to carriers such as Saudia for pilgrimage operations. In 1991, Air Atlanta Icelandic began carrying passengers under its own airline operation, initially using a Lockheed L-1011-500. It subsequently expanded its fleet and geographic reach, including Boeing 747 operations and charter flying in Europe, Asia, the Caribbean and other international markets. The business has periodically changed emphasis in response to aviation demand. It operated passenger charters and special-purpose flights, including United Nations-related airlifts and highly distinctive private charters, while also building a substantial wide-body leasing capability. In the 2000s, its activities became connected with the wider Avion Group structure, the United Kingdom subsidiary Air Atlanta Europe and several affiliated aviation and travel businesses. By the middle of 2007, management had decided to place greater emphasis on air cargo and reduced much of its passenger-aircraft crew complement. Passenger and cargo operations nevertheless remained part of the company’s broader capabilities. Air Atlanta Icelandic’s aircraft have been deployed for airlines, cargo operators, tour companies, governments, sports organizations and entertainment clients. Examples cited in public records include cargo flying for Yangtze River Express, operations for National Airlines and Cargolux, and wide-body passenger capacity for customers in the Middle East and elsewhere. In 2016, a company Boeing 747 was used by Iron Maiden as the touring aircraft known as “Ed Force One,” demonstrating the flexibility of its charter and aircraft-provisioning model. The company reopened Air Atlanta Europe in 2021 to operate a passenger Boeing 777 fleet and added its first Boeing 777-200ER in 2025, according to the supplied reference material. As of the available descriptions, Air Atlanta Icelandic remains principally a global provider of charter, wet-lease and cargo capacity. Its fleet, customer contracts and exact operating bases can change frequently, and public sources do not consistently provide a single current fleet or route picture. A reported May 2026 agreement involving Atlas Air Worldwide Holdings and Titan Aviation Holdings is future-dated relative to some historical sources and should be independently verified before being treated as completed.
History
Air Atlanta Icelandic was founded in Iceland on 10 February 1986 by Captain Arngrímur Jóhannsson and Þóra Guðmundsdóttir. It began as a contract and charter operator, with its first reported agreement involving a Boeing 707-320 wet-leased to Caribbean Airways for London–Barbados service. In 1988, it supplied aircraft for Air Afrique’s Hajj operations, establishing pilgrimage flying as an important part of its later business. Other late-1980s customers included Sudan Airways, Lufthansa and Finnair. The company began operating passengers under its own airline operation in 1991 with a Lockheed L-1011-500. In 1992, it participated in United Nations peacekeeper airlift activity involving flights from the former Yugoslavia to Nigeria and France. Boeing 747 operations began in 1993, including aircraft leased to Saudia for Hajj flights. The same period saw domestic charter activity under a contract with Samvinn Travel and an international Boeing 737 operation between Phnom Penh and Bangkok. During the mid-1990s, Air Atlanta Icelandic obtained operating rights in several foreign markets and expanded its charter activity in Europe, including Portugal. It continued to combine aircraft leasing with unusual charter assignments: in 1996, an L-1011 was used for a wedding flight over the Arctic Circle. In 1997, contracts with Britannia Airways and Iberia supported routes from Madrid to Havana and other Caribbean destinations. The airline also acquired a Boeing 747SP used by government delegations, sports teams and entertainers. British Airways became a leasing customer in 1998, and Air India was among the customers reported in 2000. In 1999, Magnus G. Thorstenn became chief executive, and the company sold its last Boeing 737, becoming an all-wide-body operator. Air Atlanta Europe expanded the group’s United Kingdom presence from 2003, operating Boeing 747 aircraft on ad hoc and charter work, including flying associated with Travel City Direct. Air Atlanta Icelandic acquired a minority stake in Excel Airways in 2004, later increasing it substantially. In 2005, the Avion Group was formed and Air Atlanta Icelandic and Islandsflug were merged under the Air Atlanta Icelandic name. The wider group also acquired or controlled interests in Eimskip, Travel City Direct, Icebird Airlines and other aviation and travel businesses. In 2006, it announced the acquisition of French charter carrier Star Airlines. Cargo became increasingly important. In June 2006, a Boeing 747-200 was wet-leased to Yangtze River Express for Shanghai–Anchorage–Los Angeles freight service. In mid-2007, the airline formally shifted emphasis toward cargo aircraft and reduced its passenger-aircraft crew base, although it continued to retain passenger and charter capabilities. Later examples included two Boeing 747-400s operated for National Airlines in 2011, with one used for cargo charter work and another wet-leased to Cargolux. Air Atlanta aircraft have also served non-airline customers. In 2016, Boeing 747-428 TF-AAK was supplied to Iron Maiden for its Book of Souls World Tour. The aircraft was damaged during towing at Santiago, Chile, requiring replacement of both port-side engines and associated components before it returned to the tour. The airline reopened Air Atlanta Europe in 2021 to operate passenger Boeing 777 aircraft. The supplied reference material reports the addition of the group’s first Boeing 777-200ER in 2025. It also describes a proposed May 2026 transaction under which Atlas Air Worldwide Holdings would acquire a 49% interest in Air Atlanta and Titan Aviation Holdings would acquire aircraft owned by the group and lease them back. Because that transaction is future-dated in the supplied material, its completion and final terms require verification.
- 2025
First Boeing 777-200ER
[1]The supplied reference reports the addition of the airline’s first Boeing 777-200ER.
- 2021
Air Atlanta Europe reopens
[1]The subsidiary resumed activity to operate a passenger Boeing 777 fleet.
- 2007
Strategic move toward cargo
[1]The airline shifted its emphasis toward cargo operations and cargo aircraft.
- 2005
Avion Group formation and merger
[1]Air Atlanta Icelandic and Islandsflug were merged under the Air Atlanta Icelandic brand within the newly formed Avion Group.
- 2003
Air Atlanta Europe expands UK presence
[1]The United Kingdom subsidiary began operating Boeing 747 aircraft for ad hoc and charter missions.
- 1999
Wide-body-only transition
[1]After selling its last Boeing 737, Air Atlanta Icelandic became an all-wide-body operator.
- 1993
Boeing 747 enters the fleet
[1]The airline began Boeing 747 operations, including aircraft leased to Saudia for Hajj services.
- 1992
United Nations airlift participation
[1]Air Atlanta participated in airlift activity involving United Nations representatives and peacekeeper-related movements.
- 1991
First own passenger operation
[1]The company carried passengers under its own operation using a Lockheed L-1011-500.
- 1988
Hajj leasing begins to shape the business
[1]The airline leased aircraft to Air Afrique for Hajj pilgrimage operations.
Products and positioning
A flexible international aircraft-capacity provider for airlines, cargo companies, tour operators and other institutional customers.
Charter aviation
Passenger charter services
Contract-based passenger flying for airlines, tour operators, governments, entertainment clients and other organizations. These services can be seasonal, ad hoc or tied to a specific customer program, rather than forming a publicly marketed scheduled network.
Air cargo
Cargo charter services
Wide-body aircraft and operating capacity for international freight missions. Routes, aircraft and utilization are determined by customer contracts, including airline cargo programs and dedicated charter requirements.
Aircraft capacity services
ACMI and wet-lease services
Aircraft supplied with crew, maintenance and insurance to airlines that need temporary, seasonal or incremental capacity. This has historically been the company’s defining commercial model and has supported both passenger and cargo operations.
Specialized charter
Special-purpose aircraft charters
Customized aircraft operations for pilgrimage travel, government movements, sports teams, entertainers and other non-standard missions. The format illustrates the flexibility of the airline’s wide-body charter platform.
Marketing campaigns
- 2016Ed Force One
Global touring markets
Air Atlanta Icelandic supplied Boeing 747-428 TF-AAK to heavy-metal band Iron Maiden for its Book of Souls World Tour. The aircraft was branded and used as the band’s touring aircraft, replacing a previously used Astraeus Airlines Boeing 757.
Outcome. The aircraft suffered towing damage to two engines in Santiago, Chile, but repairs were completed and it returned to the tour.
- 1996Arctic Circle sky wedding
Iceland and Arctic airspace
A couple chartered an Air Atlanta Icelandic Lockheed L-1011-500 for a wedding flight carrying the couple and guests over the Arctic Circle.
Outcome. The ceremony took place aboard the aircraft during the charter flight.
Brand decisions
2026
Reported Atlas Air strategic investment agreementM&ABackground
The supplied reference describes a proposed partnership intended to expand Atlas Air’s global operating platform and provide access to Air Atlanta wide-body capacity.
Action taken
Atlas Air Worldwide Holdings reportedly agreed terms to acquire a 49% stake, while Titan Aviation Holdings would separately acquire Air Atlanta Group aircraft and lease them back.
Aftermath
Completion, closing date and final terms are not independently established in the supplied material.
2021
Reopen Air Atlanta EuropeStrategyBackground
The group sought to restore a dedicated passenger operating platform alongside its charter and cargo activities.
Action taken
Air Atlanta Europe was reopened to operate a Boeing 777 passenger fleet.
Aftermath
The move broadened the group’s passenger wide-body capability; current fleet scale and route details require verification.
2007
Prioritize cargo operationsStrategyBackground
Management responded to the company’s changing contract mix and the demand for wide-body freight capacity.
Action taken
The airline planned to move toward cargo aircraft and laid off most of its passenger-aircraft aircrew.
Aftermath
Air Atlanta Icelandic continued to maintain both passenger and cargo capabilities, while cargo became a more prominent part of its operating profile.
Sources1 sources
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