Luxury Aviation & Private Jet Charter

STRATEGIC OBJECTIVE TO DOUBLE SIZE OF BUSINESS BY 2015

MAJOR EXPANSION OF CORE HUBS, ROUTE NETWORK AND FLEET UNDERWAY

DELIVERY OF US$2 BILLION ORDER BACKLOG UNDERWAY

BUSINESS PERFORMED STRONGLY IN 2011

CONTINUING GROWTH AND OUTPERFORMANCE IN KEY MARKETS

STRONG BALANCE SHEET

London: 12 January 2012 Strategic Update

VistaJet, the world’s leading luxury aviation company outside of the Americas, announces that it has commenced the second phase of its strategic expansion across the BRINC* countries and other fast- growth developing markets including the Middle East, wider West African regions and CIS nations as it seeks to double the size of the business within four years.

The Company’s strategy is to focus on fast-growth markets including the BRINC countries, Middle East, Africa and CIS nations. Underpinned by the ongoing and rapid growth in global commodity markets and the development of mining and other assets in remote locations, either underserved by commercial airlines or from where direct routes to other key commodity and natural resource market locations do not exist.

Moreover, a significant proportion of commodity and natural resource companies operating in today’s markets are founder-owned which has resulted in the rapid growth of luxury aviation as well as reliable and efficient point-to-point travel.

An outstanding example of this is Russia where VistaJet has established a major presence and, with the recent delivery of new long-haul aircraft, is the largest international luxury aviation company flying into key Russian destinations including Moscow.

In 2012, VistaJet has prioritised a number of regions for further expansion including:

-  Africa, following on from the recent successful development of a major presence on the west coast

-  China, where VistaJet is at the advanced stages of establishing a presence in conjunction with local partners with a view to commencing operations no later than the end of 2012

Thomas Flohr, founder and chairman of VistaJet, commented:

“We have reached a major stage in our development and strategic expansion. We have the opportunity to build on our established position as the world’s leading luxury aviation company with the largest fleet of business jets outside of North America.

“Flying VistaJet is as much a business decision as it is a lifestyle choice. If you are the owner of a mining company with assets in Siberia and Central Africa, you cannot afford to spend up to three days flying commercially between Novosibirsk and Luanda. Nor are you going to want to fly on some of the airlines that will get you there. With our modern, state-of-the-art long-haul fleet, VistaJet will fly you there directly and in style.”

The rapid growth in demand and the significant expansion of its route network to include longer-haul sectors has also seen a rapid expansion in VistaJet’s fleet of Bombardier aircraft.

Today, following recent deliveries, the fleet is over 30-strong. With a $2 billion order backlog, the fleet is set to double by 2015 to over 60 mid- and large-size long range-aircraft. The growth in fleet will not be at the expense of maintaining the average fleet age at less than two years and with no single aircraft being more than three years old.

Ian Moore, Chief Commercial Officer commented:

“No one else in the private business aviation sector is taking delivery of brand new aircraft at the rate we are, nor is anyone more committed to maintaining the youngest fleet in the skies. It is a bold step and another example of our commitment to providing a unique customer experience.”

Financial Update

VistaJet’s strategic expansion comes as the Company confirms that it had continued to perform strongly in 2011.

For the year ended 31 December 2011, VistaJet expects to record a 20% increase in passenger numbers and a 25% increase in revenues. These trends are expected to continue during the current financial year .

VistaJet also expects to confirm that profits for the year grew in excess of 50%.

Thomas Flohr concluded:

“Our success is a result of our proven business model and I am delighted with our strong performance. We are growing passenger numbers, revenues and profits.

“We are well on-track towards doubling the size of the business and consolidating VistaJet’s position as the leading player in its marketplace.” 

* Brazil, Russia, India, Nigeria and China

JAKARTA — The Indonesian budget carrier Lion Air, which announced the world’s biggest-ever commercial aircraft order last month, plans to launch a private jet service by mid-2012, the company said Thursday.

Lion Air is negotiating a deal for four, nine-seater jets with US-based Hawker Beechcraft, which builds special-mission, business and trainer aircraft, Lion Air spokesman Edward Sirait told AFP.

“We will order four airplanes and we hope that two will be delivered between May and June next year. We will start operating a month after that,” Sirait said.

“The deal will be signed and made official in January.”

The service will be available to individuals, but will likely serve clients from the private sector, particularly the country’s booming mining industry.

“CEOs of mining companies for example are usually based in Jakarta, but they would need to travel from one island to another to visit mines,” Sirait said.

“The demand is there. We just need to work out how to meet it.”

Lion Air, which had just one plane a dozen years ago, signed a world-record commercial contract worth $21 billion for 230 Boeing 737s with the US manufacturer in November.

The firm has become the biggest private airline in Indonesia and said it plans to expand across the Asia-Pacific region.

Sirait declined to disclose the value of the private jet deal.

The airline is looking to serve international and domestic routes across the sprawling archipelago of more than 17,000 islands.

Indonesia is already serviced by several other chartered plane companies, such as Susi Air and Jet Royal.

VAN NUYS, Calif., Oct. 18, 2011 /PRNewswire via COMTEX/ — Elite Aviation, the premier global private jet company with an extensive and diverse fleet that serves high net worth individuals with flights worldwide and Piaggio Aero, makers of the renowned Piaggio Aero P180 Avanti II turboprop aircraft, announced today a partnership to expand aircraft sales in North America. Elite Aviation will be the West Coast sales center for Piaggio, serving California, Oregon, Washington and Nevada, and spearhead sales of Piaggio Aero’s P180 turboprop aircraft out of their office in Van Nuys, California. The move into sales is a logical extension for Elite Aviation, known for providing the highest levels of personal service to their clients in the air and on the ground.

“This relationship cements Elite Aviation’s status as a full-service charter jet company assisting our clients in the acquisition, management and maintenance of aircraft,” said Chris Holifield, president and CEO, Elite Aviation. “We’re honored to be working with Piaggio Aero in multiple states, and through this partnership we’ll be able to provide clients with additional guidance enabling them to make smart purchasing decisions.”

Elite Aviation is the female-owned premier global private jet company specializing in full-service aircraft management from turnkey acquisitions to maintenance to crew selection and aircraft sub-leasing. The company provides 24-hour access to staff, industry-leading concierge services and catering.

“We’re focusing efforts to expand our presence in North America and this new partnership will help us achieve this goal,” said John M. Bingham, President and CEO of Piaggio America. “Elite Aviation has the experience and capabilities needed to connect with buyers, coordinate negotiations and influence purchasing decisions.”

For more information on Elite Aviation visit www.eliteaviation.com . For further information on Piaggio Aero visit www.piaggioaero.com .