PRESS RELEASE

In relation to the recent rumors hightlighted in the local media, Efly Company Ltd would like to clarify as follows:

Our Comapny's initial objectives were to operate in the Charter and Wet Leave market.

Following various contacts and consultation within the local market it was decided to launch the Malta - Catania Route in order to contribute towards to increment of business for the Maltese Hotels and the general economy of the Country.

Unfortunately, the reaction towards our initiative by competitors, with tariffs which do not meet any criteria of commercial costs & profits and the logistical problems encountered at the Malta International Airport with the hinderance / impossibility to enter with our service vehicles, delays in issueing entry permits to our technical staff- to mention a few, have led the company to reconsider its own presence in the scheduled flights market to and for Malta.

The management of Efly Company Ltd (a private company),  which is accountable to its shareholders unlike the competitors who seem not to be accountable for the losses, which at the end will be paid for by the Taxpayers.

For these reasons, Efly has decided to cease its scheduled flights operations and will continue to operate according to its original strategies - Wet leasing, Charter and ad hoc flights, which have contributed towards the birth of the Company itself.

Should the adverse conditions mentioned earlied change, Efly will eventually review its position.

The comapny would like to thank all those who have believed in our project with their trust and with gratitutde and appricication would like to thank all those who have travelled with us during our operations. Efly would also like to apologise to all those who have had their flights cancelled and wish to inform those who have booked on-line that the reimbursment of their funds are being processed whilst those who have booked through our offices in San Gwann have already been fully reimbursed.