Letter of Comfort from the Island President

Santa Cruz de La Palma, September 19, 2025
– Original in Spanish –

To: Mr. Klaus J. Lauth

Dear Sir,

On behalf of the Island Council of La Palma, I acknowledge receipt of your communication and thank you for the detailed presentation of the CanAm project, which your team presented to us at the meeting held on May 7.

From this institution, we recognize that your initiative represents a strategic opportunity and a potential turning point for the entire Canary Islands. We fully share the view that the creation of their own airline would allow the islands to take control of their destiny and not remain at the bottom of the low-cost airline value chain.

We particularly welcome the commitment expressed by your team to ensure that our island, La Palma, receives a fair share of the arrival of high-net-worth tourists. We believe that this flow of visitors is key to ensuring the success of the new tourist complexes planned for the island. We wholeheartedly support the comprehensive approach that defines your project: a first-class airline linked to a first-class destination.

Therefore, and in response to your request, we are pleased to express our institutional support for the CanAm project, understanding that this demonstration of support is a valuable tool for your negotiations with international investors. It is essential to generate a climate of trust that will attract the necessary capital, especially the majority European stake (>50%) required to operate as a Spanish airline.

This letter, while expressing genuine institutional support, does not imply binding legal commitments for the Island Council of La Palma. However, it does express our firm willingness to collaborate and support your planning teams in every way possible, facilitating the administrative processes within our area of ​​responsibility. We trust that this initiative, which also provides for the creation of qualified jobs for our youth, will be successfully implemented, generating a very positive and lasting impact for La Palma and the entire archipelago.

Sincerely,

Sergio Javier Rodriguez Fernández

President of the Island Council of La Palma