Babcock & Brown Air to Report First Quarter Financial Results on May 8, 2008

DUBLIN, Ireland, April 28 /PRNewswire-FirstCall/ -- Babcock & Brown Air Limited (NYSE: FLY), a global lessor of commercial jet aircraft, today announced that it will release its first quarter earnings results before the market opens on Thursday, May 8, 2008.

Babcock & Brown Air's senior management will host a conference call and webcast to discuss these results at 9:00 a.m. U.S. Eastern Time on Thursday, May 8, 2008. A live webcast of the conference call will be available in the investor section of B&B Air's website at http://www.babcockbrownair.com.

Participants should call +1-706-643-7953 (International) or 866-696-7906 (North America) and enter confirmation code 45100095. A replay will be available shortly after the call. To access the replay, dial +1-706-645-9291 (International) or 800-642-1687 (North America) and enter confirmation code 45100095. A replay recording will be available until May 22, 2008. A webcast replay will be available on the company's website for one year.

About Babcock & Brown Air Limited

Babcock & Brown Air acquires and leases modern, high-demand commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. B&B Air is managed and serviced by Babcock & Brown Aircraft Management, the world's fifth largest aircraft lessor. The Company was formed by Babcock & Brown Limited (ASX: BNB), a global investment and asset management group with more than 25 years of experience in aircraft leasing and financing. For more information, visit http://www.babcockbrownair.com.

     Contact:
     Matt Dallas
     Babcock & Brown
     +1 212-796-3918
     matt.dallas@babcockbrown.com