National Air Services Places Order for 20 Hawker 750s

Released on Tuesday, January 30, 2007

Raytheon Aircraft Company (RAC) announced today, on the eve of the first annual Middle East Business Aviation (MEBA) conference & exhibition, that National Air Services (NAS) of Saudi Arabia has become the International launch customer for the new Hawker 750 light-mid jet by ordering as many as twenty aircraft for use in operations in the Middle East. With an estimated value in excess of US$250 million, the 20 aircraft order is the largest single order on record in the region. NAS is expected to take delivery of the first aircraft during the fourth quarter of 2007.

"This is an exceptional order and we are delighted with the value proposition this airplane brings to the market," says Ted Farid, vice president, New Business Development for Raytheon Aircraft Company. He added: "National Air Services has proven to be an excellent partner for us in the Middle East. This order will help them meet the demand for private aviation solutions in the region, and we anticipate it will be the first of many in the area."

Taher Agueel, Chief Executive Officer of NAS, said: "As the leading provider of private aviation services in the Middle East, National Air Services continues to invest in the future of this rapidly expanding sector. The region's economic trends are all pointing upwards, and demand for aviation services is expanding in line with such growth. At NAS, we are extremely pleased to partner with world-class firms such as Raytheon Aircraft as we chart our own course towards an even brighter future. We are also proud to be the international launch customer for the new Hawker 750, which we believe will quickly become the first choice for private aircraft users across the region."

The new Hawker 750, announced at the National Business Aviation Association convention in the U.S. in October 2006, will be a 2,100 nautical mile range airplane strategically positioned with the largest fuselage in the light-mid size aircraft segment. It is derived from the Hawker 800-series airframe, well known for its cabin, extended range, exceptional payload capabilities, reliability and comforts unique to the Hawker brand. The airplane will have the same cabin as the Hawker 800-series, accommodating up to eight passengers, but the ventral fuel tank will be replaced with a heated external baggage compartment with a 32 cubic foot capacity. The airplane will continue to use the highly successful Honeywell TFE-731-5BR engine and state-of-the-art Pro Line 21 avionics package. The aircraft will not sport winglets but it will feature a Hawker 400XP-style interior. RAC currently has firm orders for 40 Hawker 750s.

Ideally suited to the Middle Eastern market, it will offer customers mid-size cabin and comforts at a light-mid price, with a range capable of non-stop point-to-point travel anywhere in the region, enabling multiple-city trips to be completed in a single day.

Since its establishment in 1999, National Air Services (NAS) has become the leading provider of private aviation services in the Middle East with 33 aircraft under management, of which eight are Hawkers, making NAS the largest operator of this type in the region. Based in Riyadh, NAS provides regional businesses with innovative aviation services, including NetJets Middle East (fractional aircraft ownership and lease), Aircraft Management Services and Aircraft Charter Services in addition to Al Khayala Airlines for business travelers and a new low-cost carrier soon to be launched in Saudi Arabia.