CORRECTION to announcement 05.12.07 by major shareholder Tronosjet airplane Inc.

| Source: Atlantic Airways P/F Atlantic Airways P/F 

Correction made to the previous announcement 05.12.07 regarding the name of the
major shareholder. The formally correct party holding the shares is a Faroese
registered limited liability company, called "sp/f 07.12.07" with address in
Tróndargøta 19, FO-100 Tórshavn, Faroe Islands. This company, sp/f 07.12.07 is
owned by Tronosjet airplane Inc. or one of its associated companies or persons. 

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Nafn tilkynningarskylds aðila/Name of party notifying                           
Sp/f 07.12.07                       

Heimilisfang/Address of the party notifying                                     
Tróndargøta 19
FO-100 Tórshavn
Faroe Islands

Dagsetning viðskipta/Date of transaction                                        
28 November 2007                                                             

Fjöldi hluta í viðskiptum/Number of shares in transaction                       
58,469                                                                       

Atkvæðisréttur eftir viðskipti/Voting right after the transaction               
5.6%
                                               
Fjöldi hluta fyrir viðskipti/Number of shares before the transaction            
0                                                                            

Fjöldi hluta eftir viðskipti/Number of shares after the transaction             
58,469                                                                       

Hlutfall af heildarhlutafé fyrir viðskipti %/Holdings of total nominal value
before the transaction % 
0                                                                            

Hlutfall af heildarhlutafé eftir viðskipti %/Holdings of total nominal value
after the transaction % 
5.6%