Air Atlanta Icelandic is to be floated. The Iceland-based wet-lease airline has been owned by Capt Arngrimur Johannsson and his wife since its creation in 1986. The company expects to go public in the next 18 months. Icelandic finance house Bünaöarbankinn Veròbréf has been hired to handle preparations for the flotation on the local stock exchange. In the meantime, the airline has increased its share capital and sold the bank a 20% share - half of which will be sold to Icelandic pension funds. Air Atlanta Icelandic operate five Boeing 747s, five Lockheed L-1011s and three Boeing 737s.

Source: Flight International