Press Release

Issued by Hong Kong Business Aviation Centre.

May 21, 2012

The Hong Kong Business Aviation Centre, Limited (HKBAC) today launched its new HK$170 million, state-of-the-art Hangar 3, boosting Hong Kong's business aviation hangar capacity by 55 percent.

With 4,000 square metre of added floor area in Hangar 3, HKBAC will be able to accommodate six additional jets and offer maintenance inside the hangar. In 2011, HKBAC recorded 7,000 aircraft movements, a 24 percent increase over 2010, and 1,941 per cent rise compared to 1998 when HKBAC was established.

According to HKBAC Chairman Tony Miller, the third hangar is the latest investment by HKBAC to meet the rapidly-growing demand for business aviation in Hong Kong, and reinforce city's position as the business aviation hub of Asia.

Business aviation has grown in popularity in Asia as corporate leaders and global entrepreneurs opt for private or corporate aircraft as the fastest and easiest way to travel.

Operating around the clock, the HKBAC is a facility through which a full range of aircraft refueling, ground handling, passenger services, aircraft hangarage and line maintenance can be carried out for business aircraft, their flight crew and passengers.

"HKBAC is all about bringing business to Hong Kong and through Hong Kong to the wider region," Mr. Miller said. "We make it our mission to provide business travellers exceptional services that reflect Asian hospitality at its best -- making every client journey incredibly effortless, and reinforcing our position as a premier gateway for business into Asia and China."

HKBAC's industry expertise and customer service have made Hong Kong proud. It has been named "Best Asian Fixed Base Operator" by Professional Pilot magazine for five consecutive years, and ranked second in the league of Best International FBO for markets outside the Americas for five years in a row.

Being the regional and international aviation hub, HKBAC reported a 15 percent year-on-year growth in aircraft movement in the first quarter of 2012.