21st July 2001
BBA AVIATION AND EXECUTIVE JET, INC. ANNOUNCE EXPANDED FUEL AND ENGINE SUPPORT AGREEMENT
Orlando, Florida/Columbus, Ohio, July 21, 2001 -- BBA Aviation and Executive Jet, Inc. today announced they have signed an agreement that provides for the broad expansion of their existing aircraft fueling and ground support business relationship through BBA's Signature Flight Support subsidiary. The deal also includes a commitment by Executive Jet, Inc. to further expand its engine overhaul and repair work with BBA's Dallas Airmotive business unit.
Under the terms of the agreement, BBA Aviation's Signature Flight Support subsidiary will become Executive Jet's exclusive fuel and ground support services supplier at all airports currently served by Signature's flight support operations (FSO) facilities. Signature currently operates 50 FSO's throughout the U.S., Europe and Asia.
Executive Jet, Inc. is by far the largest operator of private business jets in the world. Executive Jet currently manages 370 aircraft, with 574 more on order. Executive Jet's NetJetsŪ fractional aircraft ownership programs are available in the U.S., Europe and the Middle East with programs in Asia and South America planned. In 2001, Executive Jet owners will fly over 200,000 flights to more than 90 different countries.
The agreement also calls for BBA Aviation to provide Executive Jet, Inc. with additional engine overhaul, major inspection and repair support through BBA's Dallas Airmotive subsidiary. Dallas Airmotive will service engines installed on Executive Jet's Raytheon Hawker model aircraft at its overhaul and repair centers in Dallas, TX. Dallas Airmotive also provides Executive Jet, Inc. with support for engines installed on Cessna Citation model aircraft at Dallas as well as through its worldwide network of nine Regional Turbine Centers (RTC).
"The ability to procure quality flight and engine support services wherever we go and whenever we need it is absolutely essential as Executive Jet continues to grow and enter new markets," said Richard Smith, Executive Vice President for Executive Jet, Inc. "BBA Aviation's combined fuel, ground support and engine service programs, coupled with their unmatched distribution system provides Executive Jet and our customers with the ideal mix of quality, convenience and operational efficiency."
"We are extremely pleased and excited to further strengthen and expand our business relationship with Executive Jet, said Bruce Van Allen, president and chief executive officer for BBA Aviation North America. "BBA Aviation's strategy is centered on providing our customers with the highest quality services in the most convenient and efficient manner possible to help reduce their overall aircraft operating costs. By addressing both fuel and engine support in a single agreement Executive Jet can derive maximum benefit from our network and services".
BBA Group, PLC, is a publicly held corporation traded on the London stock exchange. The Group's companies are engaged in providing products and services to the specialty materials and aviation industries. BBA Aviation, a division of BBA Group, PLC, serves the world's business aviation, regional airline, helicopter and commercial aviation markets through its primary operating companies and their subsidiaries that include: Dallas Airmotive; Signature Flight Support; Aircraft Service International Group; Signature Combs Aircraft Sales; International Turbine Service; APPH Group; Ozone Industries; H+S Aviation; Precision Avionics and Instruments; Oxford Aviation and Signature Aircraft Engineering.
Each of these companies is an acknowledged leader in its respective field and allows BBA Aviation the ability to offer customers a wide range of capabilities and support of the highest caliber, including turbine engine overhaul and repair; pilot and technician training services; airframe and avionics maintenance; flight support services; landing gear manufacture, maintenance and repair; and aircraft sales and charter. Through a strategy of ongoing investment in personnel, facilities and service enhancements, BBA Aviation is dedicated to establishing a tradition of total support, exceptional service and outstanding shareholder value for customers and investors worldwide.
Executive Jet, Inc. is a Berkshire Hathaway Company. In the last 10 years, Executive Jet's NetJets program has introduced more individuals and companies than ever to the benefits of private business aviation. The NetJets fractional aircraft ownership program allows companies or individuals to purchase an undivided interest in a specific business jet. A 1/8 interest provides approximately 100 occupied flying hours per year, and reduces acquisition costs by as much as 88 percent versus the purchase of an entire comparable aircraft.
NetJets allows individuals and businesses to buy a portion of a specific aircraft based on the number of actual flight hours needed. NetJets provides its owners guaranteed use of an aircraft 24 hours a day, 365 days a year, with just a few hours advance notice. Fractional aircraft ownership offers all the convenience and benefits of owning a multi-million dollar business jet at a fraction of the cost.
The NetJets fleet provides NetJets owners with a full range of airplane sizes to meet their global business transportation needs. NetJets offers 12 aircraft choices in the U.S., 6 different choices in Europe, and 3 different choices in the Middle East. NetJets offers fractional ownership interests in the Citation S/II, Citation Bravo, Citation V Ultra, Citation Encore, Citation Excel, Citation VII, Citation Sovereign, Citation X, Raytheon Hawker 800XP, Raytheon Hawker 1000, Dassault Falcon 2000, Gulfstream 200, Gulfstream IV-SP, Gulfstream V and the Boeing Business Jet.
ENQUIRIES:
Roy McGlone, Deputy Chief Executive, BBA Group PLC, 020 7842 4900
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