StandardAero Signs Multi-Engine Deal with Air 1st Aviation Companies, Inc., and Intercontinental Jet Service Center

Atlanta, Ga. – October 19, 2010 – StandardAero announced today that it has signed a multi-engine deal between Air 1st Aviation Companies and Intercontinental Jet Service Corporation (IJSC). The agreement, which extends through 2011, allows for the upgrade of Air 1st’s MU-2 fleet of TPE331 engines to the newer Dash 10 configuration.

The initial contract terms stipulate ten TPE331 engines with an option of ten additional engines. The engines will be zero time overhauled and converted to from the fleet’s current Dash 6 configuration to the Dash 10’s. All work will be performed at StandardAero’s Augusta, Ga. facility (AGS).

“This program provides Air1st with an engine for their fleet that is more reliable, gets better fuel economy, has cheaper operational cost, higher cruise speeds, more TBO schedule options, and is covered under the Unscheduled Maintenance Cost Assistance Program,” said Claude Chidiac, vice president, Business Development, StandardAero. “We’re excited to be able to support their needs by migrating them to a more efficient, faster, engine.”

“Securing this deal with Air 1st is a great accomplishment for all the parties involved, said Doug Clarke, regional sales manager for the TPE331 engine. “Not only does it extend StandardAero’s service footprint into the new Dash 10 configuration, but it is a personally rewarding conclusion to the successful outcome of a well-negotiated agreement.”

“We are pleased that Air1st Aviation has selected the Dash 10 conversion for their MU-2 fleet,” said Dennis Braner, president, Intercontinental Jet Service Corp. “Mike Laver has been a major promoter of the MU-2 aircraft for 30 years and his decision to upgrade his fleet to the Dash 10 engine in support of the U.S. Air Force proves his continued commitment to the MU-2 for several more years into the future.”

“The one determining factor in my decision to do the Dash 10 conversion on my fleet was the comfort level I felt with the people at ICJSC and StandardAero,” said Mike Laver, president, Air 1st Aviation Companies, Inc.

StandardAero is the exclusive provider of the Honeywell Dash 10 Conversion Engine Program.

StandardAero, a Dubai Aerospace Enterprise (DAE) company with nearly $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, maintenance, repair and overhaul (MRO), and Aviation IT solutions. It is creating an innovative business that builds on the dynamics of Dubai and continuous growth in aviation.

Headquartered in Dubai, the group is growing through a series of phased developments and acquisitions to become a global player and to produce an integrated aerospace cluster, based at Dubai World Central – the new 140 square kilometer airport and logistics city being constructed in Jebel Ali, Dubai. It is forming international partnerships at the highest level of industry with the aim of establishing one of the most innovative and successful businesses in the global aerospace industry within the next decade.