In the Autumn of 2008, Astraeus Airlines resumed operating all flights on behalf of Iceland Express with two Boeing 737-700 aircraft.

The airline was owned by Icelandic investment group, Northern Travel Holding.

The company started trans-Atlantic flights to Newark Liberty International Airport, four times a week and Winnipeg James Armstrong Richardson International Airport, two times a week, in June 2010, with a mix of 737s and two Boeing 757s operated by Astraeus.

In late summer 2010, the airline published its winter schedule with the Newark flights year-round, as well as seasonal destinations such as Orlando.

[4] On 24 October 2012, WOW air acquired Iceland Express' operations and network.