Press Release

Issued by Nextant Aerospace.

November 18, 2013

Nextant Aerospace, maker of the Nextant 400XTi, the world's only remanufactured business jet has announced today it has big expectations for the Indian market for both the 400XTi and its new release, the turboprop G90XT.

India has the largest entry-level jet fleet in Asia – 17% of the $1.7 billion market, worth serving 350 airports. Deliveries in India have doubled in the past five years compared to the previous five years.

To maintain this rapid growth and the third largest GDP (PPP) in the world, India's business leaders are continually striving to improve returns on their aviation investments. The 400XTi is the perfect business tool for the Indian market, matching or outclassing the competition in range, speed, cabin comfort and versatility with lower operating costs - and all for just half the purchase price.

“The Nextant value proposition is perfect for India,” said Arun Sharma, managing director for Aviators, Nextant's exclusive sales agent in India. “It's a new and exciting company that Indian customers should really take a look at. Their remanufacturing process is a winning formula that has already scored major sales successes worldwide, most recently a complete US fleet-replacement order worth $202 million. It's the easiest way by far to put class-leading jet and turboprop products in the hands of cost-conscious Indian owners and operators.”

Highlighting Nextant's use of the latest technology in proven airframes, Sharma continues: “Nextant's aircraft are ideal for the particular conditions of flying and doing business in south Asia with impressive hot and high performance and go-anywhere capability. Prospective customers owe it to themselves to measure Nextant value against the cost buying new. As an owner/operator myself I invite everybody to come and see the demonstrator during its forthcoming sales tour.”

“We anticipate strong growth potential in India” said Nextant president Sean McGeough. “This is an evolved aviation market which understands the functional nature of business aviation. With a rapidly growing economy and the third largest GDP (PPP) in the world, government and business leaders are looking for time-efficient and cost-effective travel to support their growth strategies. The 400XTi has the range to travel point to point, anywhere on the subcontinent, even in the summer heat; and our upcoming G90XT is poised to take over where older turboprops leave off.”

Current turboprops in India have an average age of 17 years so operators concerned about obsolescence and declining residual value are expected to take a particular interest in the G90XT's Garmin 1000 cockpit, next-generation GE H80 engines and quieter cabin. The new aircraft's versatility and rugged dependability – especially in hot & high conditions – make it a strong contender to rejuvenate India's hardworking turboprop fleets, including special missions versions. Its performance on the balance sheet is equally suited to a rapidly-developing market, with purchase price and operating costs offering major advantages over equipment currently in service.