Press Release

Issued by STAECO (Beijing) Business Jet Maintenance.

November 10, 2014

Nextant Aerospace, maker of the Nextant 400XTi – the world's only remanufactured business jet – and the forthcoming Nextant G90XT turboprop, today announced the appointment of STAECO (Beijing) Business Jet Maintenance Co, Ltd as its first authorized service center in the greater China region. The authorization ceremony will be at Airshow China, which takes place November 11-16, 2014 in Zhuhai, Guangdong. STAECO BJ will provide line maintenance and AOG support from its base at Beijing Capital International Airport.

STAECO BJ is a subsidiary of Taikoo (Shandong) Aircraft Engineering Company Ltd, one of China's most experienced and respected MRO and engineering organizations. STAECO BJ has CAAC Part 145 certification on nine business jet types which cover 75% of all business jet activities in the Beijing area. STAECO BJ works with some of China's leading fleet operators including Nanshan Jet, Good Jet, MetroJet (Hong Kong) and Lily Jet (Hong Kong).

“The selection of STAECO BJ as our first authorized service center for China means that our customers will now receive the same quality of care and technical capabilities in China that they have come to expect from Nextant worldwide,” said Nextant president and ceo Sean McGeough. “We expect the greater China region to be a significant market for Nextant and it was important to establish a world-class support infrastructure ahead of our first delivery to China.”

STAECO BJ will join an international network of owned and authorized service centers including Jet Aviation and Constant Aviation. All Nextant service centers have full access to Nextant's global spares inventory and distribution infrastructure, which is supported by Directional Capital's Aerospace Products International (API).

“It is an exciting opportunity to work with Nextant, as Nextant is a fast-growing company like ours,” said Lin Zhongsong, general manager of STAECO BJ. “As more Chinese customers learn about the value and benefits of the Nextant remanufacturing concept, we believe its business jet fleet will grow quickly here and that'll be excellent business for us.”

STAECO BJ will work closely with AVIC International Aero-Development Corporation (AVIC ADE), Nextant's exclusive sales representative for the greater China region. “Our partnerships with AVIC ADE and STAECO BJ give us access to some of the most respected and capable aviation resources in China,” continued Mr. McGeough. “With their support we expect to replicate the type of success that has seen Nextant deliver nearly 50 aircraft to 10 countries and log over 35,000 fleet hours with an average global AOG return to service time of less than nine hours.”