Atlantic Airways leases out one RJ-100 aircraft to Malmo Aviation

Atlantic Airways has today signed an agreement to lease out one RJ-100 aircraft to Malmø Aviation.

The agreement imply that the remaining BAE Avro RJ-100 aircraft in its fleet will be dry leased to Malmø Aviation for a period of 17-30 months with effect by end of August 2014.

The lease is in line with the original plan to phase out the BAE RJ fleet. The lease will not have an impact on expectations for the full-year result in 2014, and is expected to generate a positive cash-flow.

Atlantic Airways will from end August then operate three Airbus 319 aircraft, two Bell 412 helicopters, as well as 1 AW 139 helicopter from March 2014 due to the temporary off-shore operations in Faroese waters. Atlantic Airways’ future fleet plan will be part of a strategy review during the spring.

The Faroe Islands based carrier focuses primarily on providing the Faroe Islands with air services, but provides also capacity for operations outside the Faroe Islands.