Press Release

Issued by NetJets Europe.

May 20, 2013

Following customer research, which highlighted that aircraft owners strongly identify with the brand Executive Jet Management – the US sister company of Executive Jet Management (Europe) and part of the parent company NetJets Inc., a strategic decision to re-brand the business was made.

"This is an exciting opportunity. I am entering a young company at a very interesting time for the industry and am looking forward to driving the business forward. Executive Jet Management (Europe) will deliver a world-class aircraft management solution to jet owners – including crew recruitment and training, flight planning, crew planning, aircraft hangaring, maintenance and all other related activities." said Robert Baltus, associate director, Executive Jet Management (Europe).

Robert Baltus has 18 years' experience in aviation where he has advised and supported senior management and executive boards at a variety of aviation-related companies. Over the past 12 years, he has developed strong personal relationships with many leading companies as an aviation specialist and has consulted numerous businesses on fleet selection, training, strategic change management and new ventures. Robert previously worked for seven years as part of a successful Sales team at NetJets Europe before joining a German aircraft management company where he focussed on the management of aircraft throughout Europe and supported the Stella Aviation Group by pursuing new business around the world. Robert has a Master of Science in Air transport Management from Cranfield University and is a Commercial Pilot.

Addressing Robert Baltus' appointment, Luis Pinto, Senior Vice President Business Development, NetJets Inc. said, “We are delighted to welcome Robert into another part of the NetJets family. His tenure in the Sales team proved that he has the ability to drive a business forward. Over the years he has gained the experience as well as a multitude of contacts to ensure that he can strengthen Executive Jet Management (Europe)'s portfolio.”

Executive Jet Management (Europe) will deliver a world-class aircraft management solution to jet owners, giving them access to NetJets Europe grade staff, facilities and management services. Jet owners will have the option of using the services simply to have their jets managed, or combine this with allowing their jets to be used by NetJets Europe to provide additional capacity for the fractional business, generating additional revenue for customers on an on-going basis.

The programme borrows a core principle from NetJets Europe's fractional ownership model, charging jet owners a fee proportionate to the amount of flying owners do, rather than the more common 'flat' management fees more broadly in use in the market.

The new business will build on NetJets Europe's existing resources and experience in the market. With the largest fleet of business jets in Europe, NetJets Europe has the capabilities, relationships and infrastructure needed to deliver a best-in-class service to jet owners under Executive Jet Management (Europe). The new venture will empower NetJets Europe to scale its assets and relationships even more effectively.