HUGH PARRY RETURNS TO ASTRAEUS AIRLINES LIMITED.

ASTRAEUS AIRLINES

COMMERCIAL AIRCRAFT SOURCING AND MANAGEMENT

PRESS RELEASE

October 21, 2011.

HUGH PARRY RETURNS TO ASTRAEUS AIRLINES LIMITED.

Hugh Parry, one of the founding directors of Gatwick-based aircraft management and leasing company Astraeus Airlines Limited, has returned to the business as Chief Executive.

Hugh, along with five other owner-directors, set up Astraeus in 2002 but left in 2007 to pursue ventures in India, China and across Europe. He is already in place at Astraeus’ Crawley headquarters, and takes over the role from Mario Fulgoni who left the business in August.

“It’s great to be back, and while there are exciting and challenging times across the aviation industry, Astraeus is well-placed to make the most of the environment, with an experienced and established team of people responsible for one of the most respected and reliable aircraft leasing and management offerings in the world,” said Hugh.

Hugh Parry is a UK Chartered Accountant. After qualifying with Arthur Young and working with Coopers & Lybrand and Ford Motor Company in Australia, he worked in the computer business before becoming Vice President Finance of Europe with National Semiconductors.

In 1983 he joined listed company Intasun Leisure Group plc and became a director of Air Europe in 1985, and then group finance director. Air Europe had a fleet of over 30 Boeing 757 and 737 aircraft. Following the demise of Air Europe in 1991 as a result of the Gulf War, Hugh then developed his own company – Fitzroy Aviation – which specialised in restructuring airlines around the world.

One of Fitzroy’s projects was starting British Mediterranean in 1994, which operated A320 aircraft to Beirut, Damascus and Amman. Hugh was its first Chief Executive. British Mediterranean was acquired for £30m by bmi in 2007.

Hugh has been involved at a senior level with airlines including Bahamasair, Qatar, Debonair, British World Airlines and Air Sahara in India.

Astraeus Airlines commenced operations in 2002, employs 250 people and operates a fleet of ten Boeing 737 and 757 aircraft, primarily on ACMI (aircraft, crew, maintenance, insurance) contracts with a number of airlines, including Iceland Express, Thomas Cook, Thomson and bmi. Astraeus has a worldwide Air Operator’s Certificate (AOC) 180 ETOPS 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

Twitter @AEU_Astraeus

Twitter @Press-Relations

ASTRAEUS PLACES NINE AIRCRAFT ON FOUR CONTRACTS FOR SUMMER 2011.

ASTRAEUS AIRLINES

COMMERCIAL AIRCRAFT SOURCING AND MANAGEMENT

PRESS RELEASE

May 18, 2011.

ASTRAEUS PLACES NINE AIRCRAFT ON FOUR CONTRACTS FOR SUMMER 2011.

Gatwick-based aircraft management and leasing company Astraeus Airlines Limited has landed four contracts involving nine aircraft for summer 2011.

Two Boeing 757s and four Boeing 737s will be based in Reykjavik, flying in Iceland Express colours, while individual Boeing 757s will also be based in Edinburgh and Newcastle, with an Airbus A320 in Croatia, all on holiday charter duty.

The Iceland Express routes, from June 1, 2011, will include Newark daily, Boston five times a week and Chicago and Winnipeg as weekly schedules. The charter routes will be determined by the various operators.

“It’s well known that we changed our business model and moved out of charter and scheduled routes back in 2008, and three years on the rewards are really gathering a momentum: we have an established a year-round portfolio of clients, including several flag carriers, and our entire fleet – bar one ad hoc aircraft - is committed on dry, damp or wet lease to airlines around the world, and we’re sourcing more to address further opportunities,” said Mario Fulgoni, Chief Executive of Astraeus.

“We’ve established a process and approach that enables us to move and place our fleet internationally and seasonally to satisfy demand from airlines and operators, and we’re enjoying a consistent cycle of business through the seasons and around the world. As soon as the summer contracts are completed, we move the aircraft into winter contracts and schedules.”

Astraeus Airlines 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 number of airlines, including ACMI (aircraft, crew, maintenance, insurance). Astraeus has a worldwide Air Operator’s Certificate (AOC) 180 ETOPS 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

Twitter @AEU_Astraeus

Twitter @Press-Relations

ASTRAEUS WET LEASES THREE BOEING 757s TO SAUDI ARABIAN AIRLINES.

ASTRAEUS AIRLINES

COMMERCIAL AIRCRAFT SOURCING AND MANAGEMENT

PRESS RELEASE

October 05, 2010.

ASTRAEUS WET LEASES THREE BOEING 757s TO SAUDI ARABIAN AIRLINES.

Gatwick-based Astraeus is to wet lease three Boeing 757-200s to Saudi Arabian Airlines.

The aircraft will commence operations for Saudi in October 2010, and will be retained until the end of December 2010, primarily to support massive demand for seats during the Hajj, the world’s biggest pilgrimage.

The wet lease arrangement means that Astraeus will provide crew and full management of the aircraft, which will be based in Jeddah.

“This is the second Hajj contract with Saudi Arabian Airlines, and a fantastic endorsement of our ability: the Hajj is a hugely important religious event, and as such it is a contract we need to deliver with the utmost sensitivity and respect for the occasion,” said Shaun Monnery of Astraeus.

“The expertise and experience of the Astraeus team along with the reputation we have established in supporting a number of airlines around the world was clearly a strong influence in our retention of this contract.”

The entire fleet – bar one ad hoc aircraft - is committed on dry, damp or wet lease to airlines around the world, and is sourcing more to address further opportunities.

Astraeus Airlines 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 number of airlines, including ACMI. 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

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