UPDATE 1-Icelandair says no plans to cancel Boeing orders

* Says has looked at Sukhoi Superjet, but no firm order

(Adds detail, quotes, background)

STOCKHOLM, March 26 (Reuters) - Icelandair (ICEAIR.IC) said on Thursday it had no plans to cancel an order for four Boeing (BA.N) 787 Dreamliners despite the slump in the airline industry and the crisis that has engulfed Iceland's economy.

The list price for each Boeing 787-8 aircraft, part of a future range of mid-sized lightweight jets, is $166 million.

"We are still excited about the programme," Sigthor Einarsson, Icelandair Group deputy chief executive, told Reuters in answer to a query about the order's status.

The U.S. planemaker and European rival Airbus (EAD.PA) have seen new orders for planes slump this year, while airlines have also cancelled orders placed before the global financial crisis.

Iceland's economy is expected to contract more than 10 percent this year after the collapse of its banking system and its currency in the wake of the global credit crunch.

Einarsson said conditions were tough in the airline industry and it was impossible to say when things would improve.

"That's the million dollar question," he said. "We expect the next winter will be as hard at least as this winter."