P-39D Bell Airacobra, 41-6763Bell P 39 Airacobra

The Accident: 

Lt. Harold L Cobb was forced to bail out of his burning aircraft near Handley Ridge Camp. Lt. Cobb landed safely near Camp Byton and sustained only minor injuries.

(The area where the aircraft came down has been developed and is currently an open playground East of Réttarholtsskóli)

The Crew:

Lt. Harold L Cobb

The Aircraft: 

Bell P-39D-1-BE Airacobra
S/N: 41-6763
Squadron/Group: 33 FS. IBC
The squadron operated P-39 in Iceland from early in the year 1942 to 9 June 1945.

Details on aircraft: WikipediaYoutube

USAAF aircraft loss list
Hinrik Steinsson