Fairchild Aerospace Announces $255 Million in Orders For 20 Aircraft

Business Wire, May 1, 2000

Business Editors & Aerospace Writers

SAN ANTONIO--(BUSINESS WIRE)--May 1, 2000

Fairchild Aerospace today announced at the Regional Airline Association Annual Meeting here that it has received additional firm orders and options for 15 328JETs and five 428JETs, valued in excess of $255 million.

Skyway Airlines, the Midwest Express Connection, ordered five additional 328JETs and five 428JETs, and took options for three additional 328JETs. Delivery of the 328JETs will take place in 2001. The 428JETs will be delivered beginning in 2003. Skyway, which was the first customer for the 328JET, now operates five as part of its fleet.

Italy's Gandalf Airlines has signed an agreement with Fairchild Aerospace for five additional 328JETs for its operations based in Bergamo/Milano. They will join four 328JETs and four Dornier 328 turboprops already in operation for Gandalf. The five 328JETs are being converted from existing options, with deliveries set to begin in June.

Shell Petroleum Development Company of Nigeria Ltd. has ordered two additional Fairchild Aerospace 328JETs to transport company employees to work locations throughout Nigeria. Shell was an early 328JET operator, taking its first aircraft in August 1999. The jet immediately began shuttle operations in Nigeria as part of the Shell Petroleum fleet. The two additional 328JETs are scheduled for delivery later this year.

"These repeat orders are an indication that these 328JET customers are pleased with the performance and comfort of the 328JET," said Steve Koenig, Fairchild's vice president of airline sales.

The 328JET is the world's first 32-seat regional jet and is being flown by operators in Europe, the U.S., China, the Middle East, Africa and the Pacific Rim. It features the widest and tallest passenger cabin among regional jets, and boasts a modern flight deck with the Honeywell Primus 2000 avionics suite.

The Fairchild Aerospace 328JET is the world's first wide body regional jet, offering more space per passenger than other regional jets. In addition to more than 6 feet of stand-up headroom, the 328JET cabin offers the widest aisle in its class, and ample shoulder and legroom for unrivaled passenger comfort. There is a walk-in lavatory, a full-service galley, and a quiet cabin interior.

The 44-passenger 428JET is being developed with Israel Aircraft Industries as a strategic partner for engineering, fabrication, and assembly of the new model. IAI will also direct the FAA/JAA certification process.

Under the aircraft family concept, major systems and components of the 328JET and 428JET are the same, giving the operator greater efficiency, lower training and support costs, and enhanced flexibility.

Fairchild Aerospace Corporation is a privately owned company and a market leader in the design and production of jet and turboprop aircraft for the airline, corporate and government markets. The company provides a wide range of sales, support, production and engineering services for the aviation industry. In addition to facilities in San Antonio and Oberpfaffenhofen, Germany, Fairchild Aerospace has offices in Washington, D.C. and other locations worldwide.