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Textron Aviation Zurich Service Centre

Press Release

Issued by Textron Aviation Zurich Service Centre.

May 18, 2007

Jet Aviation appoints Peter G. Edwards as Group CEO

Jet Aviation names Peter G. Edwards as Group CEO, effective May 20. Edwards, who succeeds interim CEO Carl W. Hirschmann, will be based at Jet Aviation's global headquarters in Zurich.

"Peter Edwards comes to Jet Aviation with an illustrious aerospace background and a strong customer focus," commented Jet Aviation Chairman Dr. Urs Schenker. As Group CEO, Edwards will be responsible for all of Jet Aviation's global activities, providing service excellence to customers and strategic partners and executing Jet Aviation's geographic and product expansion strategy. His aviation experience spans 28 years, including senior positions at prestigious aviation organizations such as AiResearch, Gulfstream Aerospace, and Bombardier Aerospace. Edwards has managed global organizations of up to 7,500 employees and introduced numerous new successful business jet models. Upon his departure from Bombardier as president of its Business Aircraft Division, Edwards managed an aviation business and strategy consultancy practice and serves as an Executive Advisor for Supersonic Aerospace International LLC, a company dedicated to developing a supersonic business aircraft and making quiet supersonic flight a reality in the 21st century.

Edwards, a graduate of the University of Southern California's School of International Relations, has served on the Board of many organizations, including GAMA and NBAA, and has participated as a member of the World Economic Forum. "I am delighted to be part of Jet Aviation's exceptional organization and look forward to building upon the traditions of this great company as we continue our rapid global expansion of high quality business aviation support services," he remarked.

Jim Ziegler appointed COO North America, effective June 1

"Jim Ziegler comes to Jet Aviation with impressive senior management experience and an extensive background in business aircraft aftermarket support," Schenker points out. A native of Kansas and graduate of Wichita State University, Ziegler spent 23 years with Learjet and Bombardier Inc. in various executive management roles including finance and strategic planning / business development. Ziegler also directed the company's business aircraft service facilities in North America and later the company's Wichita manufacturing operations and new aircraft completions centers. Ziegler's career culminated as the vice president and general manager of Bombardier Aerospace, Business Aviation Services and was responsible for aftermarket support of all Bombardier business aircraft.

Effective June 1, Ziegler will be responsible for Jet Aviation's North American operations, including FBO, charter, aircraft management, maintenance and completions. Ziegler and André Wall, who recently joined Jet Aviation as COO Europe, Middle East, Asia and South America, will jointly report to Peter Edwards and manage Jet Aviation's day-to-day operations across the globe.

"It is a great pleasure for me to join Jet Aviation, which I consider the world's leading aviation services organization, and gain the opportunity to expand its wide range of services in support of the rapidly expanding North American business aviation market." Ziegler will be based at Jet Aviation's Midcoast facility in St. Louis, MO.

Executive management team now complete

"Our executive group management team is now complete" commented Dr. Urs Schenker, who further notes that "Jet Aviation now enjoys one of the strongest and most experienced management teams in the industry." Commenting further on the executive transition, Dr. Schenker added, "I want to express our thanks to Vice Chairman Carl W. Hirschmann for ably serving as interim CEO. He worked hard to build and renew relationships with employees, the management team and key stakeholders so that Peter Edwards can take over a well-positioned company."

Jet Aviation's executive group management team is focused on expanding its position as the world's premier business aviation service firm. In addition to Edwards, Ziegler and Wall the full senior management team now includes: Dr. Hartwig Grevener, Group CFO; Leon H.M. Hustinx, Group CMO; David Paddock, Group Chief Business Development & Strategic Planning; Kurt Sutterer, President MRO & Completions North America; Gary Dempsey, President, FBO, Charter and Aircraft Management North America; and Stephan Bruhin, Group Chief Human Resources who will join Jet Aviation on June 1 from SR Technics Group, where he held the position of Senior Vice President Human Resources.

Jet Aviation was founded in Switzerland in 1967 and is one of the leading business aviation services companies in the world. 5,200 employees cater to client needs from our 20 airport facilities throughout Europe, the Middle East, Asia and North and South America. The company provides maintenance, completions and refurbishment, engineering, fixed base operations, along with aircraft management, charter services, aircraft sales and personnel services. Jet Aviation's European and U.S. aircraft management and charter divisions jointly operate a fleet of close to 200 aircraft and provided more than 65,000 hours in global flight operations in 2006. For more information, please visit www.jetaviation.com.