EXA Excel Airways

RNS Number:0499X
Excel Airways Group PLC
29 March 2004


For Immediate Release                                        29 March 2004




                     Excel Airways Group plc ("EAG")


Completion of #29.9 million offer by Air Atlanta for 38.9 million shares in EAG



Further to the announcement dated 20 February 2004, EAG announces that
Flugfelagid Atlanta hf d/b/a Air Atlanta Icelandic ("Air Atlanta") has completed
its purchase of 38.9 million shares in EAG from Libra Holidays Group Limited ("
Libra"), representing 40.5% of the issued share capital of EAG. As part of the
share sale arrangement, a five year commercial agreement has been signed for the
supply of aircraft to Excel Airways.



EAG is also pleased to announce that Libra has repaid its indebtedness to EAG's
subsidiary, Excel Aviation of #15.78 million and has entered into a long term
agreement with Excel Aviation for the supply of future seat capacity.



Phil Wyatt, Chief Executive, commenting on completion of the transaction said:



"I am delighted that we are now working more closely with Air Atlanta as a trade
partner in providing Excel with a long term source of flexible seasonal capacity
as well as supporting us in rolling out our successful business model to other
parts of the world."





For further information, please contact:


Suzanne Brocks
Buchanan Communications                                  020 7466 5000





Notes to Editors



Excel Airways is one of the UK's major charter passenger airlines and provides
short-haul services to European and Middle Eastern leisure destinations as well
as long-haul to the Caribbean. The airline operates an all Boeing fleet from its
three bases at London Gatwick, Manchester and Glasgow.



Excel Airways sells the majority of it's capacity through Excel Aviation, its
commercial sales division and Freedom Flights, a seat only operator selling
seats on charter aircraft, generally through UK travel agents. Excelairways.com
is an internet based trading division of Excel Airways which sells tickets
direct to the public.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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