Atlantic Airways Stock Exchange Announcement 10/2010
Atlantic Airways has decided to sell one AW 139 helicopter to Wiking Helikopter
Service in Germany. Delivery is expected to take place before year end.
Atlantic Airways has an option to lease back the helicopter in 2011 to support
its operations.
The sale does not have an impact on expectations for the result in 2010, but it
reduces significantly the invested capital in helicopters and further improves
the cash position.
"We have decided to reduce our exposure in the helicopter segment and base our
fleet on longer term contracts" says Magni Arge, CEO. "Our focus is activity
around The Faroe Islands. It suits us well that we have the flexibility with
Wiking Helikopter to excercise an option to add AW 139 capacity in relation to
exploration activites during 2011."
Atlantic Airways has operated helicopters since 1994 and currently operates
three helicopters - one AW 139 and two Bell 412 - from its base in Vagar
supporting both government contracts on domestic flights and SAR as well as
transport related to oil exploration activity in Faroe Islands.
The Flag carrier has operated international flights to and from Faroe Islands
as well as charter flights in Europe since 1988 and has currently four aircraft
in its fleet.
For further information contact:
Magni Arge, CEO, tel +298 213700- magni@atlantic.fo
Marius Davidsen, CFO, +298 213703 - marius@atlantic.fo
