LONDON (Reuters) - Lloyds Banking Group (LLOY.L) has delayed meeting investors on a planned residential mortgage-backed bond sale because of air travel disruptions, one of the banks managing the sale said on Monday.

Plans for the bond deal were announced last Thursday, but investor meetings could not take place because of transport disruptions caused by the volcano eruption in Iceland, which has grounded flights for the past five days.

The meetings will be rescheduled when there is clarity over travel arrangements, one of the managing banks said.

A Lloyds' spokeswoman confirmed the postponement of the meetings, but declined to comment further.

The bank plans to issue the bonds via its Arkle Master Trust vehicle, which is expected to offer fixed and floating rate securities in pounds, euros and dollars.

These mortgage-backed bonds are pools of mortgages that are packaged up and the income they generate is sold to investors in a process called securitization.

The managing banks for the deal are Citi, Lloyds itself and Royal Bank of Scotland.

(Reporting by Alex Chambers and Jane Merriman; Editing by David Cowell)