newstodate.aero
Oct 15, 2008 (newstodate): Iceland's Avion Aircraft Trading is not caught in the turmoil of the country's financial melt-down.
-We are not affected since we do not do any business in the local currency, says Hafthor Hafsteinsson, Avion Aircraft Trading chairman.
-All our business is abroad in US Dollars and Euros, and our banking activities and funding are through strong European banks and has been so for the last one or two years.
-Also, our client portfolio remains strong, and we have not seen any indication yet that they will be affected to the extent that it will risk our long term leases, says Mr Hafsteinsson.
Through a management buy-out in August 2007, Avion Aircraft Trading was fully acquired from Eimskip by Hafthor Hafsteinsson, Chairman of AAT, Arngrimur Johannsson, member of the AAT board of directors, and other AAT key managers.
AAT was wholly owned by Eimskip until October 2006 when Eimskip sold a 51 percent holding in the company to the same party.
-We are not affected since we do not do any business in the local currency, says Hafthor Hafsteinsson, Avion Aircraft Trading chairman.
-All our business is abroad in US Dollars and Euros, and our banking activities and funding are through strong European banks and has been so for the last one or two years.
-Also, our client portfolio remains strong, and we have not seen any indication yet that they will be affected to the extent that it will risk our long term leases, says Mr Hafsteinsson.
Through a management buy-out in August 2007, Avion Aircraft Trading was fully acquired from Eimskip by Hafthor Hafsteinsson, Chairman of AAT, Arngrimur Johannsson, member of the AAT board of directors, and other AAT key managers.
AAT was wholly owned by Eimskip until October 2006 when Eimskip sold a 51 percent holding in the company to the same party.