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.

“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 .

“Furthering our mission to provide private jet travel to more people than ever before, SuiteShare allows you to open up your flights to others, and so avoid the hassles of commercial travel at an even lower cost than our already renowned pricing,” said JetSuite CEO and former JetBlue founding executive, Alex Wilcox.

With the new SuiteShare option the price of each ticket decreases as more people join the flight. If a plane reaches maximum capacity, the person that bought the first ticket flies free. JetSuite encourages businesses and individuals to consider private aviation as a comparable option to commercial travel.

Customers interested can visit JetSuite’s website to request the departure and arrival location for a specific time. If the request is possible, then the rate will be supplied. Seat cost reductions are issued after the flight is flown. If a flight cannot be found on the website’s search then customers are asked to call JetSuite.

ShareSuite is available to all of JetSuite’s SuiteSpots, that includes major cities in California, Nevada, Arizona, Texas and Utah. Outside of the U.S. options include Canada and Mexico.

Victor is billed as the world’s first private jetshare community and acts almost as an AirBnB for private jets – matching operators with spare seats to fill with travelers who are willing to pay for them.

The idea was conceived by serial entrepreneur Clive Jackson and launched to the public August 15 after six months of testing, during which some 60 Victor-enabled flights have taken off.

Now, it’s aiming to take on the wider world, allowing its members to pay far below the odds for a flight on a small private jet.

“Victor is the world’s first ‘one stop’ quotation, comparison and transactional online platform for chartering aircraft or purchasing a seat and will be a massive game changer for the private aviation industry,” said Clive Jackson.

“Consumers are able to unite and leverage their considerable buying power under one brand and unifying transactional platform and have the freedom to choose and compare quotes from any major operator,” he continued.

Although the website is necessarily limited by where its jets are flying to, it initially appears to have been successful in bringing down the cost of private jet use – current seats showing as available on its website include a trip aboard a Learjet 40XR from the UK’s Farnborough Airport to Mallorca for just £750 (€855)

The system is also set up to reduce prices as seats are sold – meaning, for instance, that the seats aboard a listed flight from Paris’s Charles de Gaulle to Farnborough have dropped in price from £2,185 to £846 (€2,490 to €965) as more users joined the flight.

Alternatively, users can bid for a seat, and the flight’s operator can decide whether or not to accept the price they have offered to join them on board.

Victor says that it currently uses a contracted fleet of 120 jets across Europe, a number which is likely to significantly expand if it takes the service global, as planned, in 2012.

“Talon Air puts a premium on maintaining clean, safe, and state-of-the-art facilities,” says Adam Katz, founder, president, and CEO of Talon Air. “The Optex Redscan laser-scan system is a cost-effective and powerful way to reduce the likelihood of damage to aircraft or facilities while allowing personnel to move freely throughout the hangar. The system enhances our reputation as a leader in the industry.”

The goal was to eliminate any risk of damage to aircraft during exit or entry and provide aircraft owners whose planes are managed by Talon with value-added safety measures. The system should also reduce insurance premiums. An important feature of the scanning system was to ensure that aircraft mechanics and hangar personnel have access to the perimeter area. The system detects only objects eight feet off the ground. The scanning system uses four Redscan RLS-3060 laser scanners, which detect a moving object’s size, speed, and distance from the detector. The RLS-3060 creates a 200-foot wide detection area that functions like an invisible wall. Any object within the laser’s span will set off strobes and sounds.

Grid Squared Systems (www.gridsquared.com), an Optex Redscan Certified System Integrator, was selected by Talon to propose a system solution that would fit their unique safety requirements. Grid Squared worked with Optex to devise the best solution. “The Redscan system was selected on both its technical merits and its ease of use,” says Lon Bazelais, senior partner at Grid Squared. “We had the system installed and running in minimal time without disruption to Talon operations.”

“The Redscan system provides Talon with the flexibility to tailor the scanning area to increase safety without interfering with day-to-day operations,” says Chris Adams, Optex’s Eastern regional sales manager. “The Redscan in the hands of an experienced and certified integrator such as Grid Squared can solve unique problems and be applied in new and innovative ways.”

About Talon Air

Talon Air, Inc., is a full service private aviation company specializing in private jet charters, aircraft management, and aircraft maintenance. Talon Air owns and operates the most diverse fleet in the world of private jets, executive helicopters, and turbo prop aircraft. Talon Air is equipped to provide private jet charter flights and business travel anywhere in the world with no geographic limitations.

About Optex

Optex, Inc. markets indoor and outdoor passive and active infrared technology products manufactured by Optex Company Limited of Otsu, Japan throughout the continents of North and South America. Products include a wide variety of hardwired and wireless outdoor detectors and photobeams, specialized sensors to trigger CCTV systems and a one-of-a-kind Class-1 laser detector for high security applications. Since its founding in 1979, Optex has established a worldwide reputation for quality, innovation, and technical excellence with products that represent an investment in performance and long-term satisfaction.

FIRM ORDER BACKLOG NOW IN EXCESS OF $2.0 BILLION

NEW AIRCRAFT ORDERS SET TO TAKE TOTAL FLEET SIZE TO IN EXCESS OF 60 AIRCRAFT

ORDER FOLLOWS RECENT STRATEGIC DECISION TO EXPEDITE EXPANSION IN RESPONSE TO RAPID MARKET GROWTH ACROSS BRINC* COUNTRIES AND OTHER FAST-GROWTH DEVELOPING MARKETS

Paris: June 21 2011

VistaJet, the world’s premier luxury aviation company with the largest wholly-owned commercial fleet outside the Americas, has today placed a firm order for 10 Global** 8000** aircraft. The total value of the order is approximately $650 million US, based on the 2011 list price for typically equipped aircraft.

The firm order, which comes just a month after an order for six Global 6000** and two Challenger 605** aircraft was announced at EBACE in Geneva, will expedite VistaJet’s expansion in response to rapid market growth across BRINC* countries and fast-growth developing markets, such as Asia, Middle East, West Africa and Russia / CIS where large, longer-range aircraft have enabled VistaJet to build leading market positions.

Thomas Flohr, founder and chairman of VistaJet, said:

“We are seeing unprecedented demand in the BRINC countries and other fast-growth developing markets in which we operate.  These markets currently account for over 75% of all our flights.  At the same time, the geographic reach of our corporate customers places demanding requirements on our fleet with sectors typically of between five to ten hours duration.

“To service this rapidly growing demand, from some of the world’s leading business and corporate players, we are expediting the development of what is already one of the world’s largest fleets of state-of-the-art long-range aircraft.

“This latest order confirms VistaJet’s established reputation and leading positions in its markets where it justifiably claim to be the preferred ‘carrier of choice’.  This in no small part is because we have in our Bombardier fleet what is widely recognized as the ‘aircraft of choice’, allowing our passengers to fly medium or long haul routes in a level of comfort that they demand.”

Steve Ridolfi, President of Bombardier Business Aircraft, said:

“It was eight years ago, also at the Paris air show that our two companies began this journey, and only six years ago at Paris that VistaJet placed its first Global aircraft order.

“It’s a true testament to our products and people that VistaJet, an industry leader in charter and luxury aviation continue their global expansion with an all Bombardier fleet. Like Bombardier, VistaJet are leaders in developing new markets, where our aircraft are ideally suited to meet the demanding needs of our customers. There is an increasingly strong demand for large cabin business jets that can connect virtually any city pair worldwide non-stop – the Global 8000 jet is the only contender to meet this requirement.”

Most recently, Mr. Rimmer served as Executive Vice President of ExcelAire, where he was responsible for overseeing all of the company’s charter operations, customer service and marketing programs as well as participating in strategic planning for the company. He joined ExcelAire in 2003 as Vice President for sales and marketing. Prior to joining ExcelAire, Mr. Rimmer was a broadcasting industry executive at Bloomberg LP, Sony, and the ABC and NBC Radio networks.  Mr. Rimmer has written extensively about aviation as a former senior editor at Business and Commercial Aviation.

“We are thrilled to promote David to President,” said Bob Sherry, CEO and Founder of ExcelAire. “He has made significant contributions to our growth over the past eight years and is widely respected among our staff, customers and within the aviation industry. David is the perfect choice to continue to build ExcelAire’s business.”

An industry leader, Mr. Rimmer serves on the Air Charter Committee for the NATA, and on the Board of Governors for the Air Charter Safety Foundation. Mr. Rimmer is also a member of the National Business Aviation Association’s (NBAA) Corporate Aviation Management Committee. He is a survivor of the September 29, 2006 aviation accident in Brazil.

Mr. Rimmer is a frequently-quoted aviation expert, and has appeared in many global media outlets including the New York Times, Wall Street Journal, International Herald Tribune, industry trade publications, and ABC News’ Nightline.  He is also in high demand as a public speaker and has addressed aviation industry and other audiences throughout the world.