2011 is fast drawing to a close as we head into home stretch for a holiday season and the New Year.

2011 has been a very busy year for our company. With a focus on improving our services to the Aboriginal Communities within our network, Air Labrador remains committed to making this the core of our business. We have also been busy in the past year with expanded specialized services, including Arctic fixed -wing flying projects, our flying activities to the Torngat National Park and ongoing air support to the many mineral exploration projects that are taking place in Eastern Canada.

In 2011 we continued to focus on safety with investments in "Human Factors Training", which has resulted in our aircraft being equipped with the latest in navigational equipment and satellite tracking services. Our commitment and focus is to ensure our operations are safe and dependable for our customers.

Our customers have provided us unwavering support over the past year; just as they have for more than the 60 years we have been in business. I would like to take this opportunity to thank you for this support and look forward to continuing our strong business relationship as we go forward to 2012.

Thank you,
Philip R. Earle
President and CEO

Dear Valued Customers:

Air Labrador was branded by Roger Pike, a Canadian aviation icon known throughout the industry as a solid business leader, with a keen eye on business success and aviation safety.

Air Labrador, a legacy carrier in Labrador, Newfoundland and Canada's North continues to serve you today after more than 60 successful years in business. The executive, management and staff at Air Labrador continue to build on its roots to shape future services.

During the third quarter of 2010, I was very proud to assume the ownership of Air Labrador and look forward to strengthening the company's focus on customer care and safety. I am a Labradorian and have spent more than a decade of my experience within the senior management of the Company, under the leadership of Roger Pike.

I have been working with the outstanding team within Air Labrador to develop our business strategy and under the strategic theme of "Focusing on the Future" Air Labrador is well positioned for opportunities. Our Company's five year strategy will lead us to a strong balance of commercial competitiveness and quality service to our customers.

We thank you for visiting our new website and look forward to seeing you on board one of our many scheduled or chartered flights. We always welcome customer feedback and look forward to any comments you may have for us.

Thank you again for your business support.

Sincerely,
Philip R. Earle
President and CEO