Tfc Feb Press Release

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february 24, 2009

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Thank you for your interest in The Flying Club. The design and content of our website is currently being updated and improved. But while I’ve got your attention, I’d like to take this opportunity to comprehensively update you concerning our progress and our near term development plans.

Mike Soldner, Club Manager of The Flying Club

As you know it has now been a year since The Flying Club was officially launched at the Singapore Airshow in February 2008. And while this important milestone was marked by a great deal of fanfare and interest, our journey towards becoming fully operational has been long, costly and challenging. Still, The Flying Club is today well on its way to fulfilling its aim of becoming Asia's first luxury aviation lifestyle club.

Our threefold value proposition to our members has not changed. We offer members the opportunity to hire our fleet of brand new, light aircraft to fly themselves or to be flown by our on-call pilots to some of the region's premier leisure destinations. To learn how to fly under the tutelage of our experienced flight instructors and in the comfort of the latest Cessna aircraft. And finally, to own the plane of their dreams, hangared and carefully maintained by The Flying Club. Our first club aircraft, a stunning Cessna 206 Stationair arrived in Singapore on 4 February, closely followed by the delivery of a Nicklaus D’Cruz, CEO of The Flying Club with a second Stationair on 10 newly arrived Cessna 206 Stationair February. Two factory-new new Cessna 172 Skyhawks will be delivered on 26 March, thus completing our initial fleet of four, new, personal and touring aircraft.

The most recognized brand in aviation

This initial fleet is mission specific. The primary mission of the 4-seat Cessna Skyhawk is personal leisure flying and training, and the 6-seat Cessna Stationair is ideally suited for short haul touring - carrying flights of golfers and small families to leisure destinations around the region.

hangar: 114 piccadilly seletar east camp singapore 798372 head office: 60 kaki bukit place unit 09-10 eunos techpark singapore 415979 • tel: 6746 0808 • fax: 6280 0090 • email: [email protected]

february 24, 2009

We had originally planned to be the first operator in Asia to offer flight training to our members using the brand new Cessna Skycatcher, however, due to aircraft production delays, members will now train in the more advanced (and more expensive) Cessna Skyhawk. Still, we remain in the early delivery queue, and we expect to take delivery from Cessna of our order of two Skycatcher aircraft in 2010 or shortly thereafter.

The latest innovation from Cessna: The Cessna Skycatcher. First units ship to buyers in Q2 2009.

The estimated hourly cost to members of hiring aircraft from The Flying Club is $490 for a Cessna Skyhawk and $650 for a Cessna Stationair. Members may also choose to bulk purchase weekday flying time for the Cessna Skyhawk in blocks of 10, 20 and 30 hours at the hugely discounted hourly rates of $450, $400 and $350 respectively. I often hear unfavorable comparisons made between the cost of hiring aircraft from The Flying Club and the cost of hiring aircraft from other vendors in Seletar and Senai. These are unfair. The Flying Club has invested many One of two factory new Cessna 172 Skyhawks awaiting hundreds of thousands of dollars more than any delivery to The Flying Club of these oft-cited flying schools and clubs to secure for its members new aircraft with low airframe and engine time, that are equipped with the most advanced avionics suites available on the market. We have also invested heavily in the comfort of our members by installing optional climate control systems (US$30,000 per installation) and luggage pods (US$15,000 per installation). The result; The Flying Club has the newest and most modern fleet of Cessna light aircraft in the region.

hangar: 114 piccadilly seletar east camp singapore 798372 head office: 60 kaki bukit place unit 09-10 eunos techpark singapore 415979 • tel: 6746 0808 • fax: 6280 0090 • email: [email protected]

february 24, 2009

Double loading doors allow easy access to the spacious passenger cabin of the Cessna 206 Stationair

There is simply no comparison between our fleet and the aging, and for the most part long since discontinued, planes of 25 to 50 years, with no comfort or luxury attributes and very few safety features, that currently traverse the skies over Seletar and Senai. Add to that, the fact that our aircraft are fully insured by a specialist aviation underwriter covering every conceivable scenario and the fact that we have appointed one of Australia's premier Maintenance, Repair and Overhaul (MRO) organizations to provide comprehensive maintenance services for aircraft owned by The Flying Club and its members and it becomes clear they are simply not the same aircraft.

The Flying Club aircraft are hangared & maintained indoors in Seletar, Singapore

Our dedicated Airflite engineer inspects an aircraft prior to flight

This level of comfort, safety and attention to detail however comes with a relatively higher price tag. Still, we are confident that the majority of our members are concerned enough with their own safety and well being and that of their passengers to afford the difference for a superior experience and peace of mind. We are currently in talks with the leasing arm of the Seletar Aerospace Park to secure a long term land lease for the development of luxury member facilities in Singapore. In the interim, we have set up a comfortable lounge inside our hangar on the edge of the runway in Seletar to provide members, prospects, and friends of The Flying Club a place to meet and enjoy refreshments and the company of our aircraft.

hangar: 114 piccadilly seletar east camp singapore 798372 head office: 60 kaki bukit place unit 09-10 eunos techpark singapore 415979 • tel: 6746 0808 • fax: 6280 0090 • email: [email protected]

february 24, 2009

Our original plans to build a luxury member's facility in Senai, Malaysia, are currently on hold. This decision was taken largely in consultation with our members and prospects and in light of the fact that Senai Airport has also delayed its own infrastructure development schedule; in particular extending the runway, laying utility corridors, and paving taxiways given the current unfavorable economic climate. Upon going fully operational in the coming months, we will offer our members a full suite of membership services The Flying Club members’ lounge in hangar 114 Seletar, Singapore including access to our aircraft and facilities in Singapore, limousine transfers to and from embarkation points, on-call pilots, trip planning assistance, seamless aircraft ownership (including financing, maintenance and leaseback), and training for their Private Pilot License (PPL). The net result of our efforts is that we are blazing a trail in general aviation (GA) in Asia. Transforming a fragmented, ill-equipped, poorly managed, and no-frills product into an up market, and aspirational pursuit. When most people hear the phrase “private aviation” they immediately think private jets. Private jets conjure up word associations like “big-ticket”, “costly”, and “extravagance”, and with good cause. Private jets are truly for the ultra rich. Even CEO's of mid-sized companies must think long and hard before considering flying a private jet much less buying one with a typical medium-range haul costing between US$30,000 to US$100,000 depending aircraft type. What The Flying Club has done is taken the concept of private air travel and turned it on its head, by offering the convenience and privacy of flying personal aircraft without the prohibitive (multi-million-dollar) price tag. We have done this by purchasing new, single engine aircraft, complete with the latest avionics suites (in our case the G1000 Glass Cockpit System by Garmin), optional climate control systems, leather seating, and fully lined cabins, and making them available to our members at reasonable hourly rates.

The G1000 glass cockpit by Garmin dominates the flight deck in all aircraft operated by The Flying Club.

Add to that our premium services and it becomes becomes clear that we have a unique lifestyle proposition; one that makes the pleasures of private aviation available on a far wider scale than ever before.

hangar: 114 piccadilly seletar east camp singapore 798372 head office: 60 kaki bukit place unit 09-10 eunos techpark singapore 415979 • tel: 6746 0808 • fax: 6280 0090 • email: [email protected]

february 24, 2009

I hope you found the above informative. Please know that despite the difficult economic times all are facing, we at The Flying Club are working tirelessly to build the region’s premier flying club, powered by the newest fleet of aircraft, and supported by levels of safety and service that are second to none. In closing let me say that I would be honored to host you at our base of operations in Seletar in the not too distant future. If you require any clarification on the above matters or have any further questions, please do not hesitate to contact me directly and I will respond to you promptly. Warm regards,

Mike Soldner ---------------------------------Club Manager The Flying Club T: 67460808 F: 62800090 E: [email protected] ----------------------------------

hangar: 114 piccadilly seletar east camp singapore 798372 head office: 60 kaki bukit place unit 09-10 eunos techpark singapore 415979 • tel: 6746 0808 • fax: 6280 0090 • email: [email protected]

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