Aviation aftermarket inventory solutions provider AvAir has agreed on a full asset management contract with Icelandair Group.

Under the contract, AvAir will be responsible for the supply of all surplus materials and spare parts for a range of Boeing aircraft.

The materials covering Boeing 757, 767, 737NG and 737MAX aircraft will be housed in AvAir’s Dublin facility.

AvAir CEO Mike Bianco said: ”Creating new relationships has always been critical to AvAir, but the pandemic has made them more important than ever.

“Many airlines are looking for creative inventory solutions during this time of uncertainty and it is an honour to work together and custom-fit solutions to meet these challenges.”

The addition will enable AvAir to swiftly provide the materials to its clients.

Headquartered at Keflavík International Airport, Icelandair Group’s fleet consists of a total of 51 aircraft, of which 34 are attached to Icelandair.

It operates to more than 44 destinations, with 524 connections and 4.4 million passengers travelling worldwide.

Icelandair materials and logistics manager Eiríkur Smári Vilhjálmsson said: “AvAir took the time to understand our company and develop an agreement that meets our needs.

“Their transparency and customer service confirmed that we selected a great partner for this endeavour.”

In April, AvAir and Lufthansa Technik Component Solutions (LTCS) entered a long-term aftermarket sales agreement worth $100m, which includes 9,000 line items.