Press Release

Issued by Regional & City Airports Ltd.

February 29, 2012

Coventry Airport, in the UK has had a great start to the New Year, recording 64% more business aviation movements through its airport-managed Executive Jet Centre than in January 2011. The increase in traffic was also 6% higher than December 2011.

While the majority of the executive traffic at Coventry originated within the UK, a quarter of the flights involved international destinations, across 6 different countries during this month. These included Germany, Greece, Spain and France as well as Iceland and Canada.

Marc Watkins, the airport's business development manager, said: "Coventry has a great potential for business aviation flights. The Midlands is still England's industrial hub, so there is a great need to fly high net worth individuals and business people in and out at a short notice using business aviation flights. We look forward to continue helping local commerce as Coventry Airport is the closest airport to at least 20 major towns and cities in the Midlands. January's increase in traffic has indicated that people want to fly into Coventry and Warwickshire to do business, not only from within the UK but also from Europe as well as North America."

He added that: "This growth has pushed up many of the airport's other key performance indicators such as the average tonnage per landing, which indicate that it's not only the light jets that are operating in and out of Coventry but the likes of mid-range Citations and long-range Falcon F50s as well."

Although business aviation plays an important role in fuelling the airport's growth, regional freight traffic also presents itself as potential segment for development in the Midlands. Last year the airport resumed its scheduled cargo operations, served by Atlantic Airlines and NightExpress. This has highlighted the airport's ability to handle freight again and its strategic location in the Midlands. As a result of these developments the airport also attracted several ad-hoc freight flights in January 2012.