Eimskip exits aviation business
Iceland's Eimskip has withdrawn completely from aviation related operations after selling its 49 percent share in aircraft holding company Northern Lights Leasing to AAI Holding ehf for Iceland Kronur 2 billion ($32 million).
AAI Holding is owned by Hannes Hilmarsson and Geir Valur 'g'stsson, chief executive officer and vice president of finance, respectively, of Icelandic aircraft leasing company Air Atlanta.
Northern Light Leasing was established in 2007 as a holding company for Air Atlanta's fleet of 13 widebody jets (11 Boeing 747s and two Airbus 300-600s), 12 of which are freighters.
Eimskip said it now plans to focus on its core activities, namely freight transportation and the operation of refrigerated and freezer storage.
'Eimskip's policy has been to dispose of its aviation related assets and now we see the completion of this work,' said
Baldur Gudnason, CEO of Eimskip.