Press Release

Issued by Textron Aviation Zurich Service Centre.

June 1, 2007

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.