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Feb 04, 2020 (newstodate): The Icelandic company IAM Aviation is in the process of setting up a subsidiary to focus on the aviation market in Eastern Europe.
   The company has picked Bulgaria for launch of the subsidiary, with an office in Sofia.
   -Bulgaria is member of the EU and offers a friendly environment with low costs and moderate taxation, says Magnus Fridjonsson, IAM Aviation Managing Partner.
   -We are in the business of brokering, buying and selling aircraft, primarily in the narrow-body aircraft segment, and have long been targeting the East European markets, leading to the decision now to set up an own company there.
   -We are currently advertising for staff and expect the coming new subsidiary to be in place in the coming two-three months, manned with two people for a start.
   -There is much focus on the aircraft market in West Europe; based on our experience we see potentials in the Eastern European markets as well, says Mr Fridjonsson who owns and manages the company together with his partner, Gudni Hreinsson.
   The two partners build on rich experience with Air Atlanta Icelandic and Icelandair, respectively.
   In November 2019 IAM Aviation also named Hrafn Thorgeirsson new Snr Commercial Manager.
   A seasoned aviation capacity, Mr Thorgeirsson earlier served with the now-defunct Primera Air from April 2008 till September 2014, last in the capacity as Primera Air CEO from August 2014.