Press Release

Issued by NetJets Europe.

April 3, 2012

NetJets Europe has today announced that it is extending its ferry waiver zone, in which fees on positioning flights are not charged, for flights between 21 business-critical airports in the Middle East and Europe. This is in response to a growing demand for access to key business destinations in the region from its customers. Depending on aircraft type, they will no longer pay for positioning costs for flights when they fly between Europe and these key cities, be it either to position a jet for a flight, or to return an empty aircraft.

NetJets Europe has seen strong growth in flights to the Middle East in the last few years. In 2011 the market grew by 9.2 per cent with flights to some countries growing at an even faster rate – the United Arab Emirates saw a 24 per cent rise in business flight traffic last year. Previously available for flights to Lebanon and Tel Aviv, this extension will see Jordan, Saudi Arabia, Bahrain, Qatar, the UAE and Kuwait added to the waiver.

NetJets Europe wants to ensure its customers are provided with the most convenient options for travelling to and from the region. The ferry waiver extension will provide customers with an average effective discount of between 15 and 30 per cent on their flights.

"The Middle East is an increasingly vital destination for our customers and our aim is to ensure that they are able to do their business safely, efficiently and effectively. Face to face engagement is even more important in the Middle East than it is within Europe for sealing corporate deals, and yet commercial airlines are very poorly equipped for delivering access to some of the remote destinations our owners in the Energy and other sectors need. The ferry waiver extension will streamline an already convenient, efficient travel option for European corporate executives and private individuals travelling to the Middle East." commented Eric Connor, chairman and ceo of NetJets Europe.