ASTRAEUS

COMMERCIAL AIRCRAFT SOURCING AND MANAGEMENT

PRESS RELEASE

March 3, 2010.

ASTRAEUS MOVES INTO SOUTH AMERICA, AND RE-SIGNS bmi AND ITALY DEALS.

Astraeus has made its first inroads into South America with a deal to operate a Boeing 757-200 on behalf of Bolivian carrier AeroSur.

Initially a wet lease deal – Astraeus will provide flight and cabin crew until AeroSur cabin crew have completed training – the arrangement will move to damp with local South American cabin crew taking over.

Based in Santa Cruz, Bolivia, the aircraft will operate on behalf of AeroSur between Miami and Sao Paolo, Brazil. The contract is open-ended, and flights have started.

The deal comes on the back of extensions of damp lease contracts with bmi for a 757-200 based at Heathrow, and with Italian operator Trawel who are flying a Bergamo, Italy, based Astraeus Boeing 737 on domestic and European routes.

“Our business model of operating the aircraft while the airline thinks about filing the seats is proving ever-more successful – in the past year our fleet has been operating on every continent bar the Arctic and Antarctic such is the demand, and the loyalty of our clients who recognise the tremendous commercial sense of adopting such a model,” said Mario Fulgoni, Chief executive of Astraeus.

UK-based Astraeus commenced operations in 2002, employs 250 people and operates a fleet of eleven Boeing 737 and 757 aircraft and one Airbus A320, primarily on contract with a variety of airlines. Astraeus has a worldwide Air Operator’s Certificate (AOC) and is IOSA accredited. Astraeus is a wholly-owned subsidiary of Eignarhaldsfelagid Fengur HF which also owns Iceland Express.

Ends

Further information:

Iain Macauley

+44 (0)7788 978800 / im@pressrelations.co.uk / www.flystar.com