West Atlantic AB (publ) : Financial Interim Report January - June 2014 published

West Atlantic reports 17 per cent growth in revenue Q2 year-on-year from
increased mail and cargo operations

April - June in brief
  * Revenue: TSEK 303 419 (259 467)
  * Performed flights 6 126 (5 743)
  * EBITDA TSEK 41 806 (47 493)
  * Income before tax TSEK 2 093 (11 614)
  * Net income for the period TSEK - 1 802 (9 901)
  * Earnings per share SEK -0,07 (0,37)
  * Cash flow from operating activities TSEK 51 796 (55 819)

Comments by the CEO
"West Atlantic's second quarter performance resulted in an income before tax of
TSEK 2 093 (11 614) and an EBITDA of TSEK 41 806 (47 493). The cash flow from
operating activities amounted to TSEK 51 796 (55 819), indicating a continuously
solid operational performance. The Group's financial position remains basically
unchanged and planned investments in the aircraft fleet will continue during
2014.

Revenue  for the quarter  increased by 17 per  cent Q2 year-on-year indicating a
continued  solid growth for the Group. The increase in revenue derives primarily
from additional B737 operations.

Operational  factors reduced profitability,  the most notable  being issues with
the introduction of the B737-400 aircraft type, where the Group took delivery of
one  aircraft. Due to these  issues, which now have  been resolved, the aircraft
was  parked for the  entire quarter and  West Atlantic was  forced to subcharter
this  capacity from other  operators. Further, the  second quarter included more
scheduled  heavy maintenance  combined with  additional increased manpower costs
from  the reor-ganisation within  the technical department  in the UK, initiated
and  reported during Q1. The delayed  B767 introduction project further explains
the reduced profitability.

The  aircraft fleet expanded  by one B737-400, delivered  in April. The aircraft
will  replace current  subcontracted capacity  in intra  EU operations  which is
expected to increase operational margin in the express network for the remainder
of  2014. Scheduled traffic is estimated to increase 11 % during Q3 (compared to
Q2)  and the  Group notes  increased demand  for peak  traffic during  Q4. These
factors  combined  should  indicate  a  solid  second  half of 2014 and improved
profitability." - says Gustaf Thureborn, Group president & CEO.

West Atlantic traffic statistics January - June
                                2014              2013
                                           |
                                 Q2     YTD|       Q2     YTD
                                           |
                          Apr - Jun Jan-Jun|Apr - Jun Jan-Jun
-------------------------------------------+-----------------
 Performed flights            6 132  12 565|    5 743  11 567
                                           |
 Regularity (target >99%)    99,12%  99,11%|   99,47%  99,49%
                                           |
 Number of hours flown        6 533  13 193|    6 240  12 662
                                           |
 Tonnes carried              27 343  50 354|   22 434  43 598
                                           |
 Scheduled destinations          49      49|       42      42



West Atlantic financial calendar for fiscal year 2014
Interim report Q3 (July - September)                     November 27(th), 2014
Interim report Q4 (October - December)               February 26(th), 2015
Annual report 2014 (January - December)           April 28(th), 2015


All  reports are available in  Swedish and English and  can be found on the West
Atlantic   webpage.   The   reports  can  also  be  ordered  electronically  via
investor.relations@westatlantic.eu.


Gothenburg 2014-08-28

Gustaf Thureborn
CEO and president


West  Atlantic  discloses  the  information  contained  in  this  interim report
pursuant  to  the  Swedish  Securities  Market  Act and/or the Swedish Financial
Instrument Trading Act.


Contact
For further information please contact:
West Atlantic AB (publ)
CEO Gustaf Thureborn
Telephone: +46 31-703 04 51 E-mail: gustaf.thureborn@westatlantic.eu

About West Atlantic Group

West Atlantic Group is a European dedicated cargo airline specialised in mail
and express freight. Developing from many years' experience the Group can offer
its customers customised efficient solutions for airfreight services,
maintenance and airworthiness services and aircraft leasing.

West Atlantic AB (publ) Org. no: 556503-6083
Box 5433, SE-402 29 Gothenburg, Sweden
Phone: +46 (0) 31 - 703 04 50, Fax +46 (0) 31 - 703 04 55
Contact Email: info@westatlantic.eu
Investor Relations: investor.relations@westatlantic.eu
Webpage: www.westatlantic.eu




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