Jet Aviation and Deer Air Sign Joint Venture Agreement

Jet Aviation and Beijing-based Deer Air, a subsidiary of HNA Group, recently signed a joint venture agreement under which the two companies will operate a FBO and line maintenance facility at Beijing’s Capital International Airport. Handling and limited line maintenance services will be ready in time for the Olympic Games which will be held in Beijing from August 8 to 24, 2008. Construction of a 3,300 square meter (35,475 sq ft) state-of-the-art FBO building has already started, expected to be operational for the Olympic Games, while the hangar facilities of 6,000 square meters (64,500 sq ft) will be completed by early 2009. The new three-story FBO will offer comfortable passenger and crew lounges, refreshment areas, weather briefing and flight planning accommodations, meeting rooms and client offices. In-house 24/7 border police and customs clearance, security checks, baggage screening and metal detection capabilities will allow for fast, secure passenger and baggage handling.