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. Kári Kárason is the managing director of Icelease.

Icelandair Group has been involved in aviation for 70 years and has through decades of international flight operations gathered valuable expertise in this business. Icelease was formally founded in early 2005 as a separate business unit specializing in aircraft trading.

Icelease was involved in 25 aircraft transactions between December 2004 and November 2005. During this time the Company has sold one aircraft and made leasing contracts on 14 aircraft. The deals have so far been in Europe and in Asia.