On January 1st, Air Atlanta Icelandic, Islandsflug, Air Atlanta Europe, Excel Airways, Avia Services, Air Atlanta Aero Engineering and SouthAir were merged under the name Avion Group. The Group currently operates 66 Boeing (737, 747, 757 & 767) and Airbus (A300 & A310) aircrafts.
It would be quite funny though if they were to acquire Astraeus, considering the fact that Astraeus is the flight operator for the low-cost carrier Iceland Express.
On the other wing of Icelandic aviation, Avion Group's semi-rival Icelandair recently acquired a 10% stake in EasyJet and reportedly has it's eyes on some Scandinavian carriers.
The plot would thicken a bit and some interesting stuff might happen if Avion were to take over Astraeus and Icelandair to increase their share in EasyJet.
Reykjavik Aviation Photography - Just bring the aircraft to us and we'll photograph them! :-)