January 29, 2007

The Air Group Breaks Ground on New Private Jet Terminal and Headquarters at Van Nuys Airport, Los Angeles

The Air Group, one of the country's largest full-service private aircraft management firms, announced today that it has broken ground on a multi-million dollar expansion of its West Coast private jet terminal and corporate headquarters at Van Nuys Airport in Van Nuys, Calif.

When added to The Air Group's current facilities, the complex will be one of the largest private jet terminals at the country's busiest general aviation hub. The firm will occupy more than 86,000 square feet of secure hangar and maintenance department space at the airport and approximately 12,000 square feet of office space. The facility is being constructed by Aerolease Associates, LLC and is slated to open this summer.

Construction on The Air Group's new East Coast terminal and operations complex at Teterboro, N.J. Airport, started late in 2005. It is expected to open in March.

"As private aviation becomes more affordable and mainstream, we've reached the point where we need to expand our operations to accommodate the new business," said Jon Winthrop, chairman and CEO of The Air Group which has been in its current location at the Van Nuys Airport for more than 20 years. "Together, these two new complexes will allow us to offer the absolute latest in efficiency and security, as well as convenient and comfortable accommodations for our clients on both coasts."

The new West Coast complex will be state-of-the-art with the latest technologies available today for management, maintenance and service of private aircraft. It will house the company's aircraft acquisition, management, charter, client services, dispatch and maintenance staff and will be the largest of The Air Group's U.S. operating locations. The firm also operates corporate aircraft based in Tokyo, Japan.

Headquartered in Van Nuys, Calif., The Air Group is an FAA certified commercial air carrier and operates globally with a diverse fleet of aircraft including Learjet, Citation, Westwind, Hawker, Falcon, Legacy, Gulfstream, Challenger and Bombardier Global Express business aircraft. It maintains field operations in eight U.S. cities as well as Tokyo, Japan. For more information, visit www.theairgroup.com.