Deal announced at Premier European Business Aviation Event | Press Release

Press Release

Issued by Green Charter 2022.

June 1, 2007

Deal announced at Premier European Business Aviation Event

On May 21, 2007, Hainan Zhong Hang Tai General Aviation Airlines, the Hainan, China-based operating entity of Ameritech Aerospace, has placed a firm order for 50 Adam Aircraft® A700® Very Light Jets. The order was formalized during the recent European Business Aviation Convention and Exhibition (EBACE) in Geneva, Switzerland.

Ameritech selected the Adam A700 for its handling capabilities and innovative design. The A700, with the largest cabin in its class, offers Ameritech the greatest value for their customers.

"The business plan of the Chinese company has been developed with the goal of capitalizing on the fast growing general aviation market in China with fractional- share program and air taxi operation in mind," said Jason Fan, CEO, Hainan Zhong Hong Tai General Airlines LTD. "Due to the immediate charter and air taxi growth opportunities in China, we made the A700 our choice because it has the largest cabin space of all the VLJs. In addition, the aircraft combines prestige, luxury, and speed with its innovative twin tail that remind people of a Formula 1 racecar."

Currently there is a serious shortage of professional pilots in China, and aircraft management is often faced with difficulties related to flight planning application, ground handling, and maintenance for individual aircraft owners. "The A700 owner will be served by a professional pilot/aircraft manager who will be available for all flights and training during a renewable six-month period. This new program provides the owner with a stress-free aircraft ownership experience," stated Fan.

"This order shows that the A700 is truly a worldwide product that will bring innovation to the operators who are offering cost-efficient air travel," said Jan D'Angelo, Director International and Fleet Sales.

Following deliveries of A700 aircraft in 2008, Hainan Zhong Hong Tai General Airlines LTD plans to sell the A500® and A700 aircraft for Adam Aircraft and provide lease-back options to owners for air taxi operations.