Atlantic Airways P/F - Selskabsmeddelelse

Atlantic Airways wins contract to provide Statoil air logistic service

Atlantic Airways Stock Exchange Announcement 2/2012


Atlantic Airways has won a tender with Statoil to provide helicopter service in
connection with oil exploration in Faroese waters in 2012. Atlantic Airways
will also provide fixed wing transport during the period of exploration
drilling, which is expected to start  summer 2012 and estimated to last for 4-5
months. 

The helicopter service will be provided by a AW139 helicopter, which Atlantic
Airways has leased in to fullfill the contract. 

The contract is worth a total of approximately 20-25 million DKK in revenue.

CEO Magni Arge comments: "We are very pleased that Statoil has awarded Atlantic
Airways this contract. The company  is determined to provide a competitive and
high quality service to the oil industry and wish Statoil the best of luck in
their search for oil in Faroese waters."

Atlantic Airways currently operates two Bell 412 helicopters and three BAE RJ
aircraft and will phase in a leased AW 139 helicopter shortly and a new Airbus
319 in March 2012. The Faroe Island based carrier is servicing the Faroe
Islands with air services, but provides also capacity for operations outside
the Faroe Islands. 

Atlantic Airways has provided domestic helicopter services in Faroe Islands
since 1994 and SAR since it was initiated in 2001. Since 2001 the company has
also provided offshore services in Faroese, UK, Danish and Dutch sector. 


Atlantic Airways Ltd



For further information contact:

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

Marius Davidsen, CFO, +298 213703 - marius@atlantic.fo