Press Release

Issued by .

November 12, 2012

Hangar8, one of the country's leading private jet companies, has entered into a commercial agreement with Jersey Airport to construct a fixed base hangar operation at the airport.

The development, which is subject to planning permission, will involve the construction of a new 55,000 sq.ft. hangar which will enable Hangar8 to provide handling and maintenance operations to the private jet customers on the island.

The planning application is likely to be submitted in the first quarter of 2013 and the facility will commence operations in 2014. Further updates on progress will be made in due course.

Dustin Dryden, chief executive of Hangar8 said "This agreement represents a significant revenue and growth opportunity for Hangar8 and is in-line with our strategic objective of growing profitability into economically advantageous geographical areas. The presence of a fixed new state-of-the-art operation in Jersey will not only allow Hangar8 to further expand its offering to our existing global client base, but will also facilitate incremental growth in our aircraft management, charter and maintenance business through relationships with Jersey's significant private aviation market."