3rd World
Anyone who has had anything to do with AAI would know that they are cutting corners, bending the rules and flying some pretty dubious equipment! The Icelandic CAA do cast a blind eye, but hey; lets face it, they don't have too many sources of income on that ice block of theirs now do they? I'd still like to know how it is that they actually renew validations of non-JAA licence holders. All other states stick to the 12 month rule laid down in the JAR-FCL.
I'm sick to bits of their manipulation of the law as well as their grab-the-money-and-run policies. It is about time that the real aviation authorities of Europe took hold of them.