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Icelandair Group offers a variety of aviation related services through Capacity Solutions. This includes all types of leasing, ranging from VIP passenger charter flights to ACMI cargo operations and even dry lease and financing. Capacity Solutions can offer its customers both cargo and passenger aircraft ranging from short range narrow-bodies to long range wide-bodies. The Capacity Solutions portfolio consists of a network of these individually managed small to medium sized aviation companies with a coordinated commercial strategy and financial control.

Based at Keflavik Airport in Iceland, Bluebird Cargo operates a fleet of B737-300 freighter aircraft. Aircraft capacity is provided to major express parcel companies ("integrators") and freight forwarders, both on scheduled and charter basis.
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Icelease is an arrangement company which ties together and utilizes the vast knowledge, experience and business contacts within Icelandair Group in the business of buying, selling and leasing of aircraft.
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Loftleidir Icelandic, wet lease and charter arm, offers tour operators and airlines quality services, such as full charter service, ACMI leasing, crew leasing and flight operations.
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SmartLynx operates under its own Latvian AOC. Latvia is an JAA approved country and the AOC is thus in compliance with JAR OPS 1. SmartLynx currently has a fleet of seven Airbus 320-200 and two Boeing 767-300, furthermore SmartLynx has four additional Airbus 320, all leased to various airlines. SmartLynx is a subsidiary company in the Icelandair Group.
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