Atlantic Airways P/F - Company Announcement

Application for listing on NASDAQ OMX Copenhagen approved

Atlantic Airways Stock Exchange Announcement 23/2008

Application for listing on NASDAQ OMX Copenhagen approved

The shares in Atlantic Airways P/F will be admitted to trading and officially
listed on NASDAQ OMX Copenhagen Stock Exchange on 5 November 2008. There will
be no share offering in this connection. After this, the Atlantic Airways P/F
shares will be listed on both NASDAQ OMX Iceland and NASDAQ OMX Copenhagen
stock exchange (dual listing). 

The issuer of the shares is P/F Atlantic Airways. The company's registered
office is located at Vága Floghavn, 380 Sørvágur, Faroe Islands. Atlantic
Airways is registered in the Faroe Islands at the Faroese Business Registration
Office (Skráseting Føroya) with registration number 1223. 

All the shares are of the same class and carry equal rights. Each share has a
nominal value of DKK 100. The number of shares is 1,035,000. The shares are all
issued electronically at the VP (Værdipapircentralen). P/F Atlantic Airways'
ticker on NASDAQ OMX Copenhagen will be FO-AIR. Atlantic Airways expects to
enter into a market making agreement relating to the Company's shares on the
NASDAQ OMX Copenhagen Stock Exchange. 

The company follows Faroese GAAP. From 1 January 2009 Atlantic Airways will
adopt IFRS. The Interim Statement Q3 2008 will be announced 20 November 2008. 

The prospectus dated 9 November 2007 and a supplement dated 27 October 2008 has
been published in English and can be obtained on the website www.atlantic.fo. 

The prospectus dated 9 November 2007 and a supplement dated 27 October 2008 in
a printed form is also available on the Atlantic Airways's address (Vága
Floghavn, FO-380 Sørvágur, Faroe Islands) from 30 October 2008 during normal
office hours. 

Atlantic Airways was established in 1987 and has grown steadily since then.
Operations started cautiously in March 1988, with a single aircraft and just
one route, between the Faroe Islands and Copenhagen. Atlantic Airways has
gradually expanded and established new income streams, ensuring the company a
stable economic base. The main activity consists of scheduled service with 
Faroes as a cornerstone, charter operations in Europe and helicopter operations
in Faroese and North Sea waters. Atlantic Airways currently operates seven jet
aircrafts and four medium size helicopters. 

For further information contact:
Magni Arge, CEO, tel +298 213700 - magni@atlantic.fo
Marius Davidsen, CFO, +298 213703 - marius@atlantic.fo

Attachments:

stock exchange announcement 23-2008.pdf