AAI takes your FAA license and gets a "validation" from the Icleandic CAA. In theory, and according to the JARs, the validation is to allow you to fly for a year while you get the JAR license. However, here is another area where AAI bends the rules. They just keep getting validation after validation. AAI has a "very good" relationship with the ICAA. In fact, the JAA has been looking at this issue for the past year after the Icelandic Airline pilot's union went to the JAA officials.
It's things like this that AAI is so very good at.
CRJMaui, I hope it works out for you, however, ask anyone at AAI/AAE and they will tell you the contract isn't worth the paper it's printed on. If you read the contract, you have no recourse at all. If things go bad, you're stuck. There is nothing you can do. I know plenty of pilots who have found that out the hard way.
