Effects of Eruption and Volcanic Ash on Atlantic Airways

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| Source: Atlantic Airways P/F
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Atlantic Airways Stock Exchange Announcement 5/2010

Over the course of the last days, the employees of Atlantic Airways have worked
hard to minimize the effects of the volcanic eruption in Iceland on the
company's operations and air traffic to and from Faroe Islands. 
 
Atlantic Airways estimates that the daily loss from 15 April to 21 April is
between 0.4 MDKK and 0.6 MDKK a day and for the whole period is estimated
between 2.5 and 4.5 MDKK. 
 
During the period of closure Atlantic Airways added new flights to alternative
airport when possible and flew to Norway, Scotland and Iceland. When Danish
airspace opened Atlantic Airways operated the first flight out of Copenhagen. 

As of today the company is back on schedule having transported all waiting
passengers. Air traffic can be further affected because of airspace closure
related to volcanic ash, however we will continue to offer our customer and The
Faroe Islands the best possible service. Danish Civil Aviation Authorities has
approved Atlantic  Airways to operate international flights in Vulcanic Ash 
environment defined as Zone 2 and we expect this to diminish traffic
disruptions. 
 
The company is grateful to its clients which have shown understanding of the
inconvenience that this situation has caused. 

For further information contact:
Magni Arge, CEO, tel +298 213700- magni@atlantic.fo
Marius Davidsen, CFO, +298 213703 - marius@atlantic.fo