Press Release

Issued by Green Charter 2022.

October 16, 2007

Four year old private jet company Club328 announced today (16 October) it has a new owner – PlaneChartering Ltd, based at London Biggin Hill Airport and Cannes, South of France.  The deal cements a relationship that started last summer when PlaneChartering started selling Club328 flights in the South of France, Europe's strongest market for private jet travel, impressively doubling its sales figures.

PlaneChartering, the trading name of Mitre Aviation Ltd, is an aircraft operator and flight broker, selling private jet charter all around the world.   It operates a fleet of two Cessna Citation 2s and one Beechcraft King Air E90.  Club328's fleet of Dornier 328 jet, Beechcraft Premier 1s and Hawker 800 will join the family, bringing a new, luxury brand. 

The Club328 name will become a true 'Club,' offering fractional and luxury package products.    PlaneChartering will become the main brand, offering competitively-priced on-demand charter with its enlarged fleet and worldwide brokerage. 

Club328 CEO Elaine Young who joined the company in November last year will remain in her present role and oversee day to day AOC operations for PlaneChartering in new hangar facilities at London Biggin Hill Airport.   Paul Crowther, owner of PlaneChartering Ltd, becomes Group CEO, overseeing PlaneChartering's sales team and Avtech, a London Biggin Hill-based aircraft maintenance organisation of 35 years' standing, which PlaneChartering is also in the process of acquiring.

The Avtech acquisition includes office space and two hangars.  Avtech will continue to maintain PlaneChartering's Citation and King Air fleet, while the Dornier, Hawker and Premier 1 aircraft will continue to be looked after by J.E.T.S (Jet Engineering Technical Support) at Southampton Airport. 

General Capital, a specialist working with IPO growth companies, has provided the funding for this acquisition.  Mark Edworthy, Managing Director of General Capital said:  "This is an exciting growth market.  The combination of these three businesses provides a strong platform from which to grow a leader in business jet charter.   We look forward to helping the management team groom itself for entry into the Alternative Investment Market in early 2008."

Coincident with the deal, Club328 will move from its Southampton Airport base in central southern UK to their new home at Building 170, Churchill Way, London Biggin Hill Airport at year end.  The new premises will incorporate a customer lounge and business aviation terminal facilities. 

Dave Jackson, Group CEO of Quest Aviation Services (owner of J.E.T.S) commented:   "The offer from PlaneChartering was a sound commercial proposition and one that includes a maintenance facility in the fast-growing London Biggin Hill environment.  The move offers an opportunity to quickly expand the fleet and our coverage into London and Cannes, prime markets for jet charter, in what is an increasingly competitive market," said Elaine Young. 

"For us, Club328 offered terrific synergy. We are exceptionally strong as a sales organisation, brokering and selling flights and luxury yacht charter all around the world, while Club328's strength is its operations.  Collectively, we have a bigger fleet and we will be building on that, acquiring new aircraft in the future.  We have another two Citations due to arrive in November and a second Dornier 328 executive jet, which will join the fleet by early January 2008,"  Paul Crowther added.

The PlaneChartering operation in the South of France will complement Club328 Mediterranean, established in summer 2006 in Palma, Mallorca.