IKHANA working with Ex-Im Bank to provide financing options for international Twin Otter customer base | Press Release

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Press Release

Issued by AEVEX Aerospace.

October 25, 2012

IKHANA working with Ex-Im Bank to provide financing options for international Twin Otter customer base

IKHANA Aircraft Services announces that it is completing the development of financing support through the Export-Import Bank of the United States in order to provide IKHANA's international customer base with a low interest financing option for IKHANA Twin Otter X2 airplanes.

IKHANA's Twin Otter X2 airplane is a package of proprietary modifications and enhancements coupled with full maintenance and current inspections. The IKHANA Twin Otter X2 is a Re-Life Program using IKHANA's RWMI DHC-6 Re-Life Wing Box and Re-Life Fuselage Supplemental Type Certificates as the FAA approved engineering basis. With a strong position in the international DHC-6 Twin Otter marketplace and approximately seventy-five percent of its U.S. manufactured output being exported out of the country, the financing option is aimed at supporting IKHANA's international customers.

"Capital allocations and cash flow management are typical concerns for any Twin Otter owner/operator. IKHANA's Twin Otter X2 airplanes are especially attractive in terms of price and the low interest financing plans. These financing plans will be offered in connection with the Ex-Im Bank providing our international clients an economical option over leasing an aircraft." explained Marcos M. Carvalhal, IKHANA's Vice President and Chief Financial Officer. "In an increasingly competitive and global economy, IKHANA is always looking for tools to help both our U.S. and international client base," stated Carvalhal.

"Providing financing options for the IKHANA Twin Otter X2 product is a natural progression as we transition the X2 program from the STC development phase into production," explained Mr. John A. Zublin, President/CEO of IKHANA. "We are able to double the useful life of the airframe by replacing all critical, life limited structural components along with the related systems, engines, propellers, and interior items." Adds Mr. Zublin. "Our proprietary STC's are used as the approval basis authorizing the IKHANA Twin Otter X2 to have a "zero time" structural life limit of 66,000 flight hours or 132,000 flight cycles, whichever occurs first, essentially providing the Twin Otter with a new "birth certificate."