Press Release

Issued by .

November 13, 2008

With Qatar being cited by the Middle East Business Aviation Association (MEBAA) as being ideally placed to further develop the Middle East's flourishing business aviation market, Abu Dhabi-headquartered Prestige Jet, today reinforced that statement.

The airline, one of the region's fastest growing private aviation companies, became the first private jet company to receive an Air Operators Certificate (AOC) from the Qatar Civil Aviation authority.

"The award of the AOCs is a further illustration of our commitment to providing the highest levels of customer service and safety across some of our key markets," said Faris Deeb, Prestige Jet's Managing Director.

Ali Al Naqbi, founding chairman of MEBAA had earlier highlighted Qatar's strategic importance to the charter jet market saying: "Massive Middle East growth is predicted over the next five years. We think the regional business aviation market will be worth $1bn by 2012 and we are seeing yearly growth rates of 15-20 percent. The development of the market in Qatar in order to capitalise on this potential is now our major focus."

Prestige Jet, an original member of MEBAA similalrly identifies Qatar's flourishing natural-gas industry as a driving factor in spurring interest in aviation-on-demand.

"Despite uncertain global economic conditions, the Middle East's resilient business aviation sector continues to fly ahead. Astute High Net Worth individuals and corporations have recognized private transportation as a means to meet growing demands for fast turn around and convenient international travel solutions and as a cost-effective and convenient alternative to pricey commercial flights, " said Deeb.

"Fuel prices are increasing and as a result commercial air ticket costs are spiralling. What we are seeing is that companies are doing the math and realising that an entry-level jet can be chartered at a convenient time, fly more executives in the same luxury as first class, but on a more cost-effective budget." he said.

"Operating from Qatar also represents another important step forward in the region in what has been a very exciting year of growth and development since the launch of Prestige Jet.

"Our research shows us that we are well ahead of the competition in many ways, not least of which is acquiring Air Operators Certification in the countries we operate in," said Deeb. "We also lead the market in acquiring and/or operating new state-of-the-art aircraft, such as the world's first Embraer Lineage 1000 aircraft, and launching fixed base operations in a growing number of strategically important locations so as to offer added convenience and flexibility to the service we offer our customers, " he added.

"We consider this vital certification as a vote of confidence from the Qatar civil aviation authorities in the structure and systems we are putting in place as we expand our services," he concluded.

By receiving clearance to operate from Qatar as the first private jet operation, Prestige Jet will be now placed to further fortify its position as a truly local company applying the highest international standards in all its services, safety and quality assurance, in line with its business ethic of "Think Globally, Act Locally".