During the second half of 2014 Norwegian has had all its contracts in the Nordic market out to tender. We submitted our offer on the 31st October. Negotiations took place in December and we have now received their final decision. We are well aware of what it costs to provide the services required by Norwegian and we may have been handicapped by this knowledge, despite lowering our total bid with a significant sum we have not secured the contracts for Copenhagen or Oslo; Menzies has been awarded these contracts.

In Sweden at Umeå; Luleå and Visby state owned Swedavia has been awarded the contracts. In Sweden we appear to have lost the negotiations on price, which seem to be significantly lower than Aviator were able to bid. We have been awarded a seven year contract for Handling at Arlanda and Malmo in Sweden and the following 12 stations in Norway; Bergen, Stavanger, Trondheim, Tromsø, Bardufoss, Bodø, Kristiansand, Torp, Molde, Haugesund, Ålesund and Rygge.

There are no changes to our contract with Norwegian at London Gatwick. The new agreements and contracts are effective from the 1st April 2015. We did of course hope to win all the contracts and we are extremely disappointed to have lost some stations. Our unions have been notified about the situation. We will now start the process of reorganising the structures of our company. We will seek to carry out the process as fast as possible, so no one at the stations in Norway, Denmark and Sweden needs to wait for vital information about his or her job. Any redundancies will be advised as soon as possible, however it is highly probable that this is a transfer of operations, a so called TUPE Transfer. Aviator will do all in its power to assist staff in this process. The management team will work with the new organizational structures the next two weeks and within four weeks all employees in Norway, Denmark and Sweden know how we are going to work and deliver our services in the future.

Paul Synnott CEO