Press Release

Issued by RoyalJet.

March 1, 2012

Net profits of Royal Jet in 2011 soared by 234 percent out of total revenues that increased by 31.2 percent from the previous year. The record performance followed a program of organizational realignment that propelled the international luxury flight services company chaired by His Excellency Sheikh Hamdan Bin Mubarak Al Nahyan to its best-ever result in its eight-year history.

"I am delighted to report that 2011 was the most successful year ever for Royal Jet and by a considerable margin – both operationally and financially," said Shane O'Hare, President and Chief Executive Officer of Royal Jet. "The private jet industry is not measured by profits and efficiency alone but depends first and foremost on customer service. Our excellent service delivery earned us the 'World's Leading Private Jet' award for an unprecedented fifth year in a row at the prestigious World Travel Awards.

"As we examined every aspect of our operations and made changes where we felt improvement was possible, we were able to align more closely our commercial, operational and corporate activities to become more agile in line with market needs. This led to a significant reduction in costs and a streamlining of functions that helped us achieve greater efficiencies as well as a more effective delivery of customer service," O'Hare added.

Changes during the year included implementing a Balanced Score Card approach, initiating a wide range of performance indicators, creating a new staff appraisal system and reorganising the commercial team under new leadership.

Royal Jet recorded significant improvements across its operations, including maintenance, brokerage and Medevac. The maintenance team cut the number of aircraft 'ground days' by 16.4 percent, the brokerage team recorded an increase in gross revenues by 53 percent, and the Medevac team delivered a 65 percent increase in the number of missions flown.

"As the year 2011 brought an enormous number of challenges on a global scale, achieving simple year-on-year growth would count as a creditable performance for many businesses," O'Hare said. "Delivering a record year is an outstanding result. I would like to thank our Royal Jet customers, our partners and our employees for making this possible. While the economic outlook for 2012 remains uncertain, I believe the strongest and most efficient private jet operators will perform well. We have a number of new initiatives planned for the year and I look to 2012 with confidence."