Atlantic Airways P/F - Company Announcement

Atlantic Airways signs contract with Atlantis Rejser

Atlantic Airways has signed a contract with the Danish tour operator Atlantis
Rejser to provide charter capacity primarily out of Billund starting medio
2013. Atlantis Rejser is one of the leading Danish tour operators specializing
in Egypt, and was the first Nordic travel agency to offer packaged holidays to
Sharm el Sheikh already in 1994. The contract generates a turnover of DKK 75
million in 2013 and 2014. The production is distributed through the year with
peak in the winter season. 

Atlantic Airways will add a second Airbus 319 in the spring 2013 to cover for
the new contract. 

This contract will not change the expected result for the full year 2012. But
the agreement is seen as an important step in Atlantic Airways' growth of
production based on Airbus 320 series and will consequently support a lower
unit cost. "This is a significant contract for us and we value highly the trust Atlantis
Rejser has given us as carrier. It is also supporting our ambition to grow the
fleet of Airbus 319 aircraft," says Magni Arge, CEO. 

Atlantic Airways currently operates one Airbus 319 aircraft, two BAE Avro RJ-85
and one BAE Avro RJ-100 as well as three helicopters. The Faroe Island based
carrier is focusing on servicing the Faroe Islands with air services as well as
providing capacity for operations outside the Faroe Islands. 

For further information contact:

Magni Arge, CEO, tel +298 213700 - magni@atlantic.fo