Press Release

Issued by Propulsion International.

July 23, 2012

Propulsion International (PI) has announced that it will provide financing as low as 5.5% for Cessna Caravan operators who choose to retrofit their airplanes with Honeywell TPE331-12JR powerplants--and will offer its Group Maintenance Plan (GMP) coverage, as well. "Up to 100% financing is available for this turn-key conversion package, including acquisition, installation and STC certification of the more efficient and powerful TPE331-12JR on the Cessna 208 turboprop, and operators can reduce their payments even further by using the core value of the removed engine as a deposit," said Chad Ahrens, Chief Executive Officer of Propulsion International.

The Honeywell conversion will provide lower operating costs through operational performance and efficiency gains. In addition, PI's GMP offers the risk protections and further cost reductions typical of a tailored maintenance plan by reducing unscheduled service and, for some operators, nearly doubling time between overhaul (TBO) intervals. "PI's GMP Finance plans allow operators to convert their airplanes with very little out-of pocket-costs. They'll not only save money on the conversion itself, but will experience operational savings by capitalizing on the higher performance and greater efficiencies on an ongoing basis."

Since Propulsion International's GMP is a Honeywell backed program, the TPE331-12JR Caravan conversions will be accomplished at facilities authorized by the STC holders. Each GMP-enrolled engine is assigned a serialized account within Honeywell which ensures that all future maintenance can be performed at the operator's choice of any Honeywell authorized service center worldwide.