Icelandair CEO Bogi Nils Bogason told Business Insider that the A321LR is the "best replacement" for the inefficient 757s as it is 30% more fuel efficient per seat with a similar capacity.

The plane is registered TF-FIU, and has been with Icelandair since 2004 according to ch-aviation data. The Boeing 757 was originally delivered to Iberia, and is now nearly 31 years old. The seat ...