Deer Jet Orders Three Gulfstream G350s and One G550 Business Jets

Released on Monday, February 18, 2008

SAVANNAH, Ga., February 18, 2008 � Gulfstream has sold its first large-cabin business jet aircraft in China with the recent multi-aircraft sale of three mid-range G350s and one ultra-long-range G550 to Hainan Airlines Group. The four aircraft will be used as charter aircraft by Deer Jet, a wholly owned subsidiary of Hainan Airlines Group. This aircraft order marks the first fleet purchase for Beijing-based Deer Jet.

Deer Jet is the first business-jet charter operator in China and the leader of Asia's private jet industry in terms of fleet size and occupancy rates. Deer Jet's current eight-aircraft fleet, which includes a Gulfstream IV and two Gulfstream G200s, reach more than 125 airports within China and 136 international airports. With nearly 4,000 charter flight hours logged every year, Deer Jet currently serves more than 70 percent of the China business-jet charter market.

"With the addition of the three G350s and the G550, we will be able to optimize our fleet and capacity to meet the demands of our growing customer base," said Mr. Liu Zhiqiang, chairman of Deer Jet Ltd. "These aircraft will primarily serve our high-end customers, including central government officials, local Chinese and international business leaders, representatives from foreign governments and celebrities." The ultra-long-range G550 can fly 6,750 nautical miles nonstop, while the G350 was developed for shorter routes up to 3,800 nautical miles. Both aircraft feature low noise levels and short take-off and landing distances, that enable them to fly into and out of smaller airports. They also share the same PlaneView™ flight deck and the same pilot type rating. This translates to better utilization of flight crews, reduced pilot training costs and lower costs relating to service and parts inventories.

"We are extremely pleased to be providing Gulfstream aircraft to Deer Jet," said Gulfstream President Joseph T. Lombardo. "We appreciate the confidence Deer Jet has in our products and our company and look forward to serving them in the future." Gulfstream plans to deliver the three G350s consecutively in the second, third and fourth quarters of 2010 and the G550 in the first quarter of 2011.