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VistaJet Acquires Bombardier Skyjet International

VistaJet Completes Acquisition of Bombardier Skyjet International

ZURICH, July 1 /PRNewswire-AsiaNet/ - -


VistaJet Becomes Second Largest Business Jet Company Outside North
America; VistaJet Will Generate Over 25,000 Hours Worldwide

VistaJet Holding SA (VistaJet) and Bombardier Aerospace today announced
that the companies have signed definitive agreements under which, for an
undisclosed sum, VistaJet has acquired Skyjet International, a leading
business aviation company with offices in London, Hong Kong and Dubai.

The transaction promotes VistaJet to the number two position outside
North America and allows VistaJet to expand its revolutionary Flight
Solutions Programme and expand operations worldwide.

"Today's transaction is a perfect fit; the complementary synergies and
strengths are in line with our goal of becoming the world's leading business
aviation provider," said Thomas Flohr, Chairman of VistaJet. "The merger
underlines VistaJet's vision of revolutionizing the business aviation
landscape globally by coupling pure luxury with affordability."

Bing Chen, VistaJet CEO emphasizes, "VistaJet remains committed to a
seamless integration of operations and services for the benefit of our
customers. Skyjet International's jet membership programme perfectly
complements our innovative Flight Solutions Programme. The Skyjet
International brand name has been retained to reassure customers who will
benefit from this expanded range of service options."

"This is another milestone of VistaJet's continued success in providing
the most innovative travel solutions that are transparent, flexible and
affordable but with the most luxurious fleet and services," said Chen.

On May 20 2008, VistaJet announced that it had placed a firm order for 35
Bombardier business jets, including an option for an additional 25 aircraft.
This $1.2 billion business jet order will triple the size of VistaJet's
existing fleet.

The Skyjet International transaction and current aircraft order will see
VistaJet's fleet expand to 94 jets by 2012. The Company recently forecast a
50 per cent increase in revenues for this year and expects to generate
approximately 80,000 flight hours by 2012.

ends

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