South Atlantic Airways is alive (see photo above) and is based at Sta. Cruz de Tenerife on the Canary Islands. Obviously, the airline intends to expand its IT business from all over Europe (assumingly, these ops will mainly be operated from Germany and England), may be with some more B757-200 and even B757-300. Stay tuned. On the one hand, some might say "well, it's just another Spanish holiday market venture" but, on the other hand, I hope it will be successful. The Spanish IT business has seen so many airline ventures coming and going in the past 15 years... do you remember them? Names like Centennial, BCM Airlines, Meridiana, Nortjet, Universair, and Air Plus Comet?!