Loftleidir Icelandic enters into co-operation with Latcharter Airlines

Loftleidir Icelandic enters into co-operation with Latcharter Airlines

The agreement allows Loftleidir-Icelandic to add the Airbus A320-family to it's marketing portfolio, and opens up new growth avenues for Latcharter.

The final formal framework for the co-operation is still to be worked out, and the purchase of shares in Latcharter by Loftleidir-Icelandic is not ruled out. The proposed co-operation forsees that Latcharter shall continue it's successful growth in it's home charter market in the Baltic and Scandinavian region, in addition to entering the worldwide ACMI-market.

Loftleidir-Icelandic specializes in marketing and management of ACMI and charter projects, and has so far limited itself to the Boeing 757 and 767 families, operated under the Icelandair air operator certificate. Sigthor Einarsson, managing director of Loftleidir-Icelandic sees the Latcharter co-operation as a perfect complement to the existing Boeing product line. "The A320 product line will enable us to better serve a number of current customers, who need smaller capacity aircraft. Also, this will allow us to address segments of the market that we have hereto not reached," he says. "Furthermore, Latcharter's market knowledge in Central and Eastern Europe opens valueable new opportunities for our B757/767 operations."

Latcharter CEO Yury Rubenchik says: Latcharter Airlines sees this cooperation as a possibility to develop the company's current operation and help introduce the B757 and B767 fleet into the local market as well as further East to the CIS region. We see Loftleidir-Icelandic as a stable partner in business."

Facts about Loftleidir-Icelandic: Loftleidir-Icelandic currently manages four Boeing 757-200ER aircraft and Three Boeing 767-300ER aircraft on wet lease and charter operation in South- and North-America, Europe and in The Middle East.

Facts about Latcharter: Latcharter's fleet consists of two Airbus 320-200's, and one Yak 42 aircraft. The company was founded in 1992, and has enjoyed a healthy and stable growth. The company carried over 100.000 passengers in 2005.

For further information contact Mr. Sigthor Einarsson, Managing Director of Loftleidir Icelandic +354 5050 333.