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NetJets Europe: Netjets Europe Signs Agreement To Acquire Egelsbach Airport; Completion pending approval of full shareholder parliaments in March 2009; Pledges to exclude airliners and other large aircraft
[February 03, 2009]

NetJets Europe: Netjets Europe Signs Agreement To Acquire Egelsbach Airport; Completion pending approval of full shareholder parliaments in March 2009; Pledges to exclude airliners and other large aircraft

(M2 PressWIRE Via Acquire Media NewsEdge)

Europe's leading business aviation company, NetJets Europe, today
confirmed that it has signed an agreement with shareholders of
Hessische Flugplatz GmbH Egelsbach ("HFG"), the operator of Frankfurt
Egelsbach airport in Germany, to acquire the company. The agreement is
subject to approval by the municipal parliaments of each shareholder at
meetings to be held in March 2009. If ultimately approved, the
acquisition would be the first of its kind for NetJets. It would
increase the company's presence in a major financial market within
Germany while providing its customers with access to an alternative
airport to Frankfurt Main which is dominated by scheduled airlines.

NetJets expects to bring significant economic benefits to Egelsbach and
the Frankfurt Rhine Main Region including jobs at the airfields as well
as within the service and airport development sectors. Additionally,
more than EUR100 million of previously announced commercial property
development near the airport is contingent on Egelsbach's evolution
into a sophisticated business airport. In connection with the proposed
acquisition, NetJets agreed a series of operating conditions with the
shareholders for the comfort and benefit of the communities surrounding
the airport. Such conditions include the observance of current air
traffic movement limitations, maintaining current airport operating
hours and the banning of airliners and scheduled flights from the
airport. In consideration, the municipality shareholders agreed to
support NetJets development of Frankfurt Egelsbach airport into a
modern business aviation centre serving general aviation and NetJets
fleet of 6 to 14 seat passenger jets.

William Kelly, NetJets Europe CEO said: "We are in a unique position to
invest in airfield improvements without needing to increase flight
movement capacity. Unlike most airport operators, the NetJets business
model is not dependent on increasing traffic numbers. The proposed
acquisition demonstrates our willingness to invest for the benefit of
our fractional owners while providing a service for other business
aviation customers seeking to do business in the Frankfurt Rhine Main
Region. We are committed to being a good neighbour and local partner to
Egelsbach and the surrounding communities. We are actively engaging in
extensive consultation with local business, civic and environmental
leaders to ensure that local concerns are addressed."

For more
information or imagery please contact:

Notes to editors:

About NetJets Europe

NetJets Europe was founded in 1996 and today is the largest business
jet company in Europe. As the only pan-European operator with its own
fleet, NetJets Europe, through NetJets Transportes Aereos (NTA), is
uniquely capable of delivering a consistent, world-class service with
an unparalleled commitment to safety and security. NTA was the first
business jet operator to be awarded the IOSA certificate - the highest
safety accreditation in the world. In 2007, the NetJets Europe Fleet
flew more than 73,000 flights to 136 countries. NetJets Europe employs
a total workforce of more than 1,850 and has 160 aircraft. NetJets
Europe is the marketing agent of NetJets Transportes Aereos S.A., an EU

air Carrier.

Additional information: NetJets Europe and Germany:

Flights to or from Germany account for about 12 per cent of NetJets
flight traffic

NetJets Europe currently has just over 100 German customers; about 20
per cent of these are part of the DAX.

NetJets Europe employs 1850 employees including 1100 pilots and cabin
crew across Europe. Crew members can choose to live in 44 gateway
cities across Europe. Ten percent of NetJets crew members live in one
of the seven gateway cities that are located in Germany (Berlin,
Cologne, Dusseldorf, Frankfurt, Hamburg, Munich and Stuttgart).

NetJets Europe also works closely with a number of locally based
maintenance companies to maintain its fleet: Jet Aviation GmbH
(Dusseldorf, Kassel, Saarbrucken and Hannover), Beechcraft (Augsburg)
and Nayak (Cologne). Jet Aviation GmbH is NetJets' main partner in the
region, accounting for between eight to ten per cent of NetJets
Europe's total aircraft maintenance work. This is a significant
contribution to the German aviation industry and is about the same
number of maintenance hours completed by NetJets Europe's own in-house
maintenance facility based in London.

CONTACT: Armand David / Tom Rutteman, NetJets Europe
Tel: +44 (0)20 7592 1200
Anna McMahon, NetJets Europe
Tel: +44 (0)20 7361 9555
Tel: +44 (0)20 7592 1200
Tel: +44 (0)7801 562 252
Fax: +44 (0)20 7592 1201

((M2 Communications Ltd disclaims all liability for information
provided within M2 PressWIRE. Data supplied by named party/parties.
Further information on M2 PressWIRE can be obtained at on the world wide web. Inquiries to

Copyright ? 2009 M2 Communications Ltd.

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