Strategic & Financial Update

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

FIRM $650 MILLION ORDER PLACED AT PARIS AIRSHOW FOR 10 BOMBARDIER GLOBAL 8000 AIRCRAFT

FIRM $650 MILLION ORDER PLACED AT PARIS AIRSHOW FOR 10 BOMBARDIER GLOBAL 8000 AIRCRAFT

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.”

Mavs borrow Suns' plane for NBA Finals

Hail storms in Texas have damaged two charter jets owned by Dallas Mavericks owner Mark Cuban usually used to transport the team. So, the Mavericks are borrowing a charter jet usually used by the Phoenix Suns for the National Basketball Association Finals starting this week, according to the Dallas Morning News. The Mavericks are taking on the Miami Heat in the NBA Finals.

There are also some Arizona ties to the Finals. Heat guard Mike Bibby and Mavericks shooter Jason Terry are both University of Arizona Wildcats alumni. Mavs forward Shawn Marion and Jason Kidd are former Suns. Heat reserve guard Eddie House is an Arizona State University Sun Devil alum and played for the Suns.

Suns point guard Steve Nash is a former Maverick.

Read more: Mavs borrow Suns' plane for NBA Finals | Phoenix Business Journal

Royal Jet sees growth of medical evacuation business in Saudi Arabia

Rise in demand for private jet charter expected to continue across the region

Following 2010's solid performance of Royal Jet's business in the Kingdom of Saudi Arabia, the international flight services company is expecting another good year of growth due to a steady increase in the demand for private jet charter and medical evacuation flights.

Royal Jet is the very first company in the Middle East to have been granted a commercial licence to provide medical evacuation services or Medevac in 2006. And to date, as the region's most successful Medevac operator, it has performed over 1,250 missions with the largest number of patient transfers and strong year-on-year growth.

"Last year, we saw a significant increase in the number of private clients utilizing our medical evacuation services from across the GCC countries," said Shane O'Hare, President & CEO, "As the level of service, dedication and professionalism that clients receive continue to be the key reasons why Royal Jet is the preferred service provider of choice for aero medical needs, we are optimistic that such increase in demand would also be seen across the Saudi market.

"The expected demand for Medical Evacuation flights from within the Saudi market would surely serve to complement our core business offering of luxury private charter flights and translate to further overall business growth in the Kingdom," he added.

Through its strong partnership with Saudi-based Arabian Aircraft Services Company ARABASCO - the premiere Fixed Based Operations (FBO) and maintenance facility provider in the kingdom - Royal Jet operates at the company's key hubs in Jeddah and Riyadh.

Royal Jet's Medical Evacuation operations are managed by its Medical Director - Dr. Ibrahim Soto - who has a wealth of experience in medical evacuation, emergency medicine, orthopaedic surgery, trauma and critical care. In addition, Royal Jet also has a group of specialist doctors, paramedics and nurses available - all with Aeromedicine training. Aeromedicine, which is a specialty on its own, is absolutely necessary to be part of a Medevac mission.

"The increasing demand for medical evacuation flights within the Middle East and North Africa is reflective of the continuing developments in Health Care within the GCC," explained Dr. Ibrahim Soto, Royal Jet's Medical Director. "At the moment though, Europe remains as the main destination of our flights, along with a number of missions to the US."

All of Royal Jets aircraft used for medical evacuation purposes are equipped with comprehensive and state-of-the-art intensive care facilities including special equipments like ventilator, electrocardiogram and a neo-natal transport incubator.

Now in the second year of its highly successful commercial and operational alliance with Arabian Aircraft Services Company ARABASCO - the world's largest independent operator of Boeing Business Jets or BBJs - has stationed one of its luxurious BBJs in the Kingdom and has plans of adding more aircraft into the market this year.

Arabian Aircraft Services Company ARABASCO, which offers a variety of aircraft maintenance, management and ground handling services to private, VIP and business jets in Saudi Arabia, has been Royal Jet's perfect partner in the Kingdom. The alliance offers private jet charter and medical evacuation flights for domestic and international travel from Saudi Arabia to cities like London, Moscow, Bangkok, as well as other business, leisure and medical treatment hubs in the region.

VistaJet Sponsors Ground-breaking Artist in Prestigious New York Exhibition

London: 10 February 2011

VistaJet, the world’s premier provider of luxury private aviation services, is proud to announce its collaboration in the sponsorship of “The Hallelujah World Tour” - the first New York solo presentation of street artist RETNA.

The exhibition, which opens at 560 Washington Street, New York City on February 10, 2011, is being co-sponsored by VistaJet and Bombardier Business Aircraft and will be the first of three international exhibitions of RETNA’s work.

Yielding an unmistakable aesthetic that integrates appropriated contemporary photography, traditional painting and a unique glyphic style, RETNA has emerged as one of the most prolific graffiti artists in the contemporary art world. The Hallelujah World Tour will feature a selection of work using a diverse range of mediums, including painting, sculpture, and photography.

As part of VistaJet’s on-going collaboration with RETNA, the artist will also create a unique work on the tail of one of VistaJet’s Global Express XRS aircraft. This is due to be unveiled in April.

Thomas Flohr, chairman and founder of VistaJet, said: “Art is a huge personal passion for me as well as many of our clients. We are delighted to be supporting the ground-breaking work of this unique contemporary artist.”

The exhibition will run from Thursday, February 10, 2011 to Monday, February 21, 2011, with opening hours between 10 AM – 6 PM.

FirstFlight, a charter, management and aviation services company, is pleased to announce that aviation industry veteran Walter Buser has joined the Company as Director of Business Development. He will be based in the company’s newly opened Teterboro office and will work with the FirstFlight sales and marketing team to promote the company’s aviation services which include charter, aircraft management, sales/acquisition and maintenance.

FirstFlight President and CEO John Dow commented on the appointment: "We are pleased that Walter has accepted a key position with FirstFlight and believe that he will be instrumental in expanding our business, especially in the New York Metro area. His in-depth experience in all aspects of our operation fits well with the full range of aircraft management services we offer to our clients."

Walter has an extensive background in corporate aviation. Most recently he was Director of Client Services for Liberty Jet in Islip, NY. He also held the position of VP Operations and Customer Service at Summit Jet/Sentient Flight Group and Manager of Charter Sales for TAG Aviation. Walter is a type-rated Learjet pilot and has maintenance and dispatch experience.

At the beginning of this month, FirstFlight opened a new office at the Teterboro, NJ Airport. The office is located at the First Aviation facility. The New York City market continues to be a primary market for the organization's business and initially, the office will provide a sales presence and support for all FirstFlight charter operations and managed aircraft based in the NYC metro area.

Private jets find airline allies to boost revenue

How does a private jet service woo customers in the middle of a recession? Go after the first-class airline passenger, of course.

Two fractional jet ownership companies have announced agreements with foreign carriers that would let them pursue airlines’ premium customers.

CitationAir of Greenwich, Conn., has opened its members-only private jet service to British Airways customers traveling in the United States, while Flexjet of Richardson, Texas, will partner with Korean Air. Both private jet operators say success will be measured one new passenger at a time.

“If we got one every day, it would be a home run,” said Woody B. Harford, senior vice president at CitationAir. “At $6,000, $8,000 or $10,000 an hour, that’s massive growth in revenues. We’re not selling coach seats.”

When the economy was good, fractional jet companies did a booming business. CitationAir, owned by Cessna, and Flexjet, owned by Bombardier, were effective sales arms for their parent companies. Customers seeking the kind of luxury, privacy and convenience not available on commercial airplanes could buy a fraction of a business jet, although it was not cheap, as Harford acknowledged.

In the recession, however, aircraft sales stalled and demand for private jet service plummeted. Columbus-based NetJets, the largest operator and the company that pioneered the concept of fractional jet ownership 24 years ago, laid off 1,200 of its 8,300 workers, changed its top executive and found itself buying back dozens of airplanes from its customers that it could not sell off or fly.

“Certainly it has been a difficult time everywhere, from manufacturers to owners,” said David Sokol, chairman and CEO of NetJets.

Ira Riklis, of Lydia Security Monitoring, a home-security firm, said he was cautious three years ago when he decided to buy a Flexjet 25 Jet Card but ended up using the plane so much he traded the card for a share in a Learjet 40.

“Managing is about dealing with limited resources,” he said. “In the case of my executives’ time, it is a much more precious resource to me then the cost of the private jet.”

Riklis is one of a few fractional owners not cutting back on his time aloft. Flight hours have declined 30 percent from 2007, a peak year for the industry, according to David Strauss, managing director at UBS investment research.

“The whole industry got too big for itself too fast,” Strauss said. “They had these airplanes and utilization dropped through the floor.”

Reinvigorating interest so that people will book more hours is what motivated Flexjet and CitationAir to team with foreign airlines. They hope that some first-class passengers on arriving foreign flights will choose a private jet over a cramped regional jet to get to their next destination.

“From our perspective, it’s an opportunity to fly a customer we don’t know today,” said Steve O’Neill, chief executive of CitationAir, in describing his company’s agreement with British Airways.

The airlines will receive a commission when passengers book private jets, and Flexjet will encourage its customers to buy first-class tickets on Korean Air. Both airlines say their premium customers will appreciate knowing whom to call for private jet travel in America.

“The average Korean doesn’t know the private aviation landscape in the U.S.,” said Fred Reid, president of Flexjet.