Press Release

Issued by Textron Aviation Zurich Service Centre.

December 21, 2012

Jet Aviation has agreed to sell its Dusseldorf, Germany, and Zurich, Switzerland maintenance, repair and overhaul (MRO) operations to Cessna Aircraft Company, a Textron Inc. company. The transaction is expected to be completed by the end of 2012. Terms of the transaction are confidential. Jet Aviation will continue to own and operate its fixed-base operations (FBO) divisions at Dusseldorf and Zurich.

Yesterday Jet Aviation entered into purchase agreements to sell the operations to Textron subsidiaries in Germany and Switzerland who will acquire them on behalf of Cessna. Upon closing, all Jet Aviation MRO employees in Dusseldorf (180) and Zurich (126) will become employees of Cessna Aircraft Company (through the Textron subsidiaries).

Jet Aviation will continue to operate its existing FBO facilities in Dusseldorf and Zurich, providing flight handling, refueling, passenger and crew transportation, catering and hotel accommodations and immigration and customs services.

"Our MRO employees at these facilities have helped Jet Aviation build its reputation for outstanding service and professionalism among Cessna customers. The acquisition by Cessna will provide the two MRO facilities and employees new opportunities as a strategic part of the Cessna support organization," said Dan Clare, president of the Jet Aviation group. "Jet Aviation will continue to service its customers from our regional MRO hubs in Basel, Switzerland; Dubai, U.A.E.; Singapore; and St. Louis, Mo., USA, and to provide line maintenance services at key Jet Aviation FBO locations worldwide."

"Jet Aviation's Dusseldorf and Zurich MRO operations have been premier Cessna Authorized Service Facilities for decades, providing high-quality maintenance services to mostly European customers, " says Joe Hepburn, senior vice president, Customer Service. "The two Jet Aviation maintenance operations fit perfectly within Cessna's strategy to grow its global presence and will increase the number of Cessna-operated Citation Service Centers internationally to seven, complementing facilities in Doncaster Sheffield, UK; Paris, France; Prague, Czech Republic; Valencia, Spain; and Singapore, as well as an extensive network of authorized service facilities throughout the world."