Press Release

Issued by Nextant Aerospace.

February 28, 2013

Nextant Aerospace, maker of the Nextant 400XT, the world's only remanufactured business jet, has marked the delivery of its first aircraft into the Swiss market, and its third into Europe. The aircraft will be operated by TAG Aviation, one of the world's preeminent aircraft management, maintenance and charter companies.

"We are proud to have the Nextant 400XT chosen by TAG Aviation as the latest addition to their fleet," said Jay Heublein, Nextant vice president sales and marketing. "For over three decades TAG Aviation has been a global leader in the business aircraft industry and they recognize the importance of value, comfort, speed and range to their clients. It is an honor to be affiliated with their brand and the quality of service they deliver."

Since its launch in 2007, the Nextant Aerospace value proposition has proven hugely attractive. The company has secured sales of over $100 million since late 2011 and currently has a sales backlog valued in excess of $175 million. The Nextant 400XT boasts an impressive 2,003 nautical mile (3,709 km) range, which means customers can fly from Geneva to nearly anywhere in Europe or North Africa without refueling. With brand new engines, avionics, wiring, interiors and improved aerodynamics, the aircraft sells for roughly half the price of comparative new aircraft with 30% lower operating costs.

"The Nextant 400XT is an ideal aircraft for many customers in Europe," said TAG Aviation ceo Robert Wells. "The aircraft delivers excellent value and very attractive cabin comfort, speed and range. As an operator, we also appreciate the improvements that the Nextant represents, which are expected to enhance dispatch reliability and lower maintenance costs.

"This delivery reinforces the strength of our value proposition within Europe," said Mr. Heublein. "We estimate there are 1,542 entry level jets in Europe1 worth around $5 billion2 and we believe that the industry is now positioned for long-term growth. Customers are demanding new aircraft options that offer an exceptional value proposition without sacrificing on comfort or performance. The 400XT is perfectly positioned to deliver on this requirement."

The remanufacturing process for the Nextant 400XT results in a fundamentally new aircraft at a price point closer to that of a pre-owned aircraft, creating the preeminent value proposition for purchasers of light jets. In addition, Nextant provides customers with the same new aircraft purchase experience they would expect from any major aircraft manufacturer. Customers have control of the interior completion of their 400XT, and are able to visit Nextant's state-of-the-art design center to collaborate on every detail. Nextant also offers a two-year, full aircraft warranty on the 400XT that is assured to be honored by its constantly expanding global product support network.

The 400XT recently received full certification from the European Aviation Safety Agency (EASA) for its 400XT, enabling it to be flown in service throughout Europe.