AIR ATLANTA EUROPE has been created as a wholly owned subsidiary of Air Atlanta Icelandic, itself privately owned in Iceland. The new airline will fly under a UK Air Operators Certificate, enabling the airline, as a British company, to benefit under the trading rules of the European Community. The airline, a wet lease specialist, currently has a fleet of 20 aircraft, of which three Boeing 747 and three Boeing 767 are expected to operate under a UK registration this coming summer. Two of the 747”s are understood to be contracted to Virgin Atlantic the third one committed to Excel Airways. http://www.airatlanta.com