StandardAero Breaks Ground on New CFM56 Facility

Winnipeg, Manitoba – Sept. 17, 2009 – StandardAero, a DAE Company, today broke ground on an additional 27,000-square-foot expansion at their Winnipeg facility in support of future CFM56 maintenance, repair and overhaul (MRO) work. In June, at the Paris Air Show, StandardAero and WestJet announced an exclusive 12-year OnPoint solution agreement valued at more than $850 million (USD) over the life of the contract with GE Aviation for the MRO of WestJet’s fleet of CFM56-7 engines that power their fleet of 81 Boeing Next-Generation 737 aircraft. StandardAero will become a GE Designated FulFillment Center for CFM56-7B engines.

The 27,000-square-foot expansion to Plant 6 is in addition to 80,000 square feet recently added bringing the total square footage of the building to 162,000 square feet. The building will include a 5,400-square-foot test cell capable of up to 50,000 pounds thrust. Both CF34® and CFM56 work will be completed in this building.

“Entering the CFM56, large-fan market is a major strategic success in enhancing our product portfolio and solidifying the strength of StandardAero as a comprehensive MRO provider,” said Rob Mionis, President and CEO of StandardAero. “The win reflects the quality of StandardAero’s reputation in the marketplace and is a testimonial to the confidence both GE and WestJet have in our ability to perform the work with the highest degree of quality, efficiency and cost effectiveness.”

GE and StandardAero have developed a strong relationship over the years. StandardAero was the first independent repair and overhaul company to become an Authorized CF34* Service Provider and provide MRO service for GE’s CF34-1, -3 and –8 engines. StandardAero also provides service support for GE’s LM1600 marine gas turbine engines.

StandardAero, a Dubai Aerospace Enterprise (DAE) company with $1.4 billion in annual revenue, specializes in engine maintenance, repair and overhaul, and nose-to-tail services that include airframe, interior refurbishments and paint for business and general aviation, air transport, and military aircraft. The company, part of the DAE Engineering division, forms a global services network of 12 primary facilities in the U.S., Canada, Europe, Singapore and Australia, with an additional 14 regionally located service and support locations.

About DAE:

Dubai Aerospace Enterprise is building a globally recognized Aerospace corporation with operations from aircraft leasing, repair and overhaul (MRO) and Aviation IT solutions. It is creating an innovative business that builds on Dubai’s dynamism and continuous growth in Aviation. DAE is currently made up of three divisions – DAE Capital, DAE Engineering and DAE Services.

DAE’s shareholders include the Investment Corporation of Dubai, Dubai International Capital, DIFC Investments LLC, EMAAR, ISTITHMAR World, and Dubai Silicon Oasis (DSO).