Gold Air International to Acquire Up to Four Learjet 45 Aircraft; Largest Sale to Date in United Kingdom

Business Wire, April 13, 1999

BRUSSELS--(BUSINESS WIRE)--April 13, 1999--

European Business Aviation Association

Gold Air International, a rapidly expanding air charter company operating out of Biggin Hill and Cambridge Airports near London, England, has placed a firm order for two Learjet(R) 45 business jet aircraft with options for two additional aircraft.

"This is the largest order we have received to date for the all-new Learjet 45 in the United Kingdom and reflects an ever-increasing market recognition of its outstanding capabilities," answered Alain Ledoux, regional vice-president, sales, Bombardier Aerospace, Business Aircraft. "This is a very significant order for the Learjet 45 program and we are absolutely delighted."

Michael Vaughan, chairman of Gold Air International, said the Learjet 45 was selected to join the company's growing stable of charter aircraft following an in-depth evaluation of all aircraft in the same air transportation category.

"In all respects, we found the Learjet 45 to be the superior offering, from technological features through certification standards to operating economies," he explained. We firmly believe all our customers will be well served by this advanced business jet, which we will use to meet their travel needs throughout the U.K., continental Europe and elsewhere."

During a presentation ceremony held today during the European Business Aviation Association (EBAA) meeting in Brussels, Belgium, Gold Air International said it will take delivery of the first two Learjet 45 aircraft in the first quarter of 2001.

Gold Air International's purchase is part of a $55-million (US) investment program to upgrade its fleet over the next two to three years. "This investment is part of a strategic plan designed to position us as the premier charter operator in the London area and the Learjet 45 will be a vital component of that plan," said Mr. Vaughan.

Gold Air International was launched in early 1997 by Gold Group International, a company involved in publishing, printing, distribution and property that is owned by David and Ralph Gold. Starting with a Beech Super King Air 200 and a nine-seat Piper Chieftan, it has since grown into one of the largest private executive charter companies in the U.K.

Fleet update

The Learjet 45 was the first all-new business jet to be launched by Bombardier and the first business jet in the industry designed and manufactured from the outset entirely by computer. First customer deliveries began last year, backed by one of the most comprehensive support programs in aviation history.

Deliveries of the aircraft worldwide have been progressing smoothly in the past year and the current in-service fleet of 15 aircraft has accumulated more than 3,000 flying hours to date, with a dispatch reliability of 99.4 per cent.

The Learjet 45 began its first deliveries in Europe in September 1998 after receiving a letter of recommendation from the European Joint Aviation Authority (JAA) that cleared the way for type certification across the continent. About a dozen Learjet 45 aircraft will be in service in the region by the end of 1999.

The Learjet 45 is the first business jet in its category to be certificated to the requirements of JAR 25 at Change 13, with three amendments. In the United States, it is the first aircraft certificated to the requirements of FAR Part 25, Amendment 77.

Record capabilities

On March 29, 1999, the National Aeronautic Association presented Bombardier pilots Robert W. Agostino and David S. Ryan with a "speed over a recognized course" award for flying a Learjet 45 from San Diego, CA to Washington, D.C. in a record four hours, 18 minutes, one second.

Seating eight-to-nine passengers, the Learjet 45 offers the performance and economy of a light jet with the passenger amenities and convenience of a mid-size aircraft. Its 19-foot, nine-inch (6.02 m) long cabin offers a flat floor and spacious aft lavatory.

The airplane is powered by two AlliedSignal TFE731-20 engines providing 3,500 pounds of thrust (15.57kN) up to 88oF (31oC). It is certified to 51,000 feet (15,545 m) and has an initial cruise altitude of 45,000 feet (13,716 m). With IFR reserves and four passengers, it will fly at a long range cruise speed of Mach 0.76 for 2,186 nautical miles (4,046 km). Its maximum VFR range is 2,380 nautical miles (4,408 km).

Bombardier Aerospace, a unit of Bombardier Inc., is the world's third largest civil aircraft manufacturer with operations in three countries. Leading the 20- to 70-passenger regional carrier market, Bombardier Aerospace offers complete families of turboprop and regional jet aircraft. It has the industry's widest range of business jets, offering both full and fractional ownership, and also produces firefighting/maritime mission aircraft. It provides technical services, aircraft maintenance and pilot training to business, regional airline and military customers.

Bombardier Inc. is a Canadian corporation, active in the fields of aerospace, rail transportation equipment, recreational products, financial services and services related to its products and core businesses. It operates plants in 11 countries in North America and Europe and more than 88 per cent of its revenues are generated outside Canada. Bombardier's revenues for its fiscal year ended January 31, 1998 totalled $8.5 billion.