London, UK, 8thJanuary 2010: Athens-based Olympic Air has successfully started its cargo operations with iCargo, IBS’ next generation air cargo management solution for airlines and airports. The implementation was completed as planned on 29thof September just before the first flight of the new airline took off. With this implementation, Olympic Air is well placed to enhance its cargo volumes, optimize operational costs, increase cargo revenues & profitability, whilst improving customer service and efficiency. Olympic Air uses iCargoNet, the Software as a Service (SaaS) version of iCargo, hosted out of IBS’ state-of-the-art data centre at Ashburn, US. Olympic Air, which is using the solution for both its domestic and international operations, is the 20thcustomer of IBS for its iCargo solutions.

IBS’ iCargo solutions are offered in both licensed and hosted models. iCargo addresses all the business automation needs of a cargo carrying airline in a single seamless solution. The solution, built in collaboration with six leading cargo carriers, incorporates comprehensive functionality and industry best practices, making the product globally acceptable. Users of iCargo solutions include leading names in the air cargo industry, such as All Nippon Airways, Austrian Airlines, Kingfisher Airlines, Nippon Cargo Airways, Qantas Freight, Kingfisher Airlines, S7 Cargo, SpiceJet, and Tokyo International Air Cargo Terminal.

According to Akshay Shrivastava, Senior Vice President and Global Head of IBS’ Cargo Line of Business, “The decision of Olympic Air, to choose our solution rather than go with existing suppliers is an endorsement of the superiority of our solution and the belief in our capability to deliver. This cut over is very significant in that Olympic Air needed the entire implementation process to be completed within a period of one month to meet their business time lines. I am very pleased that we rose to the challenge and successfully completed the project one day before the first flight was to take off. These factors underscore the robustness and flexibility of the iCargo solution, and IBS’ responsiveness and ability to build, implement and support sophisticated solutions within scheduled time frames. We are indeed pleased to be a part of the new Olympic Air story. We congratulate the Olympic Air team for the remarkable work they have done in launching the carrier successfully - and we look forward to continuing to provide genuine value to Olympic Air as a strategic IT partner.”

“IBS has proven to be very valuable partner in implementing our vision for Olympic Air. They have provided us with an efficient tool for launching our Cargo services. The fact that IBS has managed to understand our needs and implement their iCargo solution within the extremely demanding timeframes that we were requiring, proves that they are a valued partner in our everyday operations. But the most important fact is that apart from gaining the tools to launch our operations we have gained a very significant partner for many years to come. We arelooking forward to a very prosperous cooperation with them.” Said Theodore Koronis, Cargo Manager, Olympic Air.

About Olympic

Olympic Air is a leading Greek airline, borne from the acquisition of the formerly state-owned Olympic Airlines by Marfin Investment Group in 2009. Guided by a new vision, Olympic Air commenced its flight operations on October 1st 2009. The company boasts one of the youngest fleets in Southeastern Europe, comprised of 32 aircraft (16 Airbus Α320 and Α319, 10 Bombardier DHC8-Q400s, 5 Bombardier DHC8-100s and 1 ATR-42) and operates services to 37 domestic destinations and to 32 international destinations