2016/04/12

Business Aviation Asia Establishes Partnership with NetJets

Creating New Business Aviation Products for the Chinese Market

Enhancing Business Flying Experiences for Chinese Customers

Shanghai, April 12, 2016—NetJets Business Aviation Limited (“NetJets”) and Business Aviation Asia Limited (“BAA”) announced a strategic equity cooperation during the Asian Business Aviation Conference & Exhibition (“ABACE”). They have collaborated to create a new business aviation product and enhanced business flying experiences for Chinese consumers.

According to their agreement, through NetJets’ funding increase and stock expansion, BAA will become one of the former’s shareholders on behalf of CMIG. Together with the other three shareholders, NetJets Inc., Hony Jinsi Investment Management Ltd., and Fung Investments, BAA is committed to the development of both NetJets and BAA.

Vice-President and General Manager of NetJets Mr. Huang Weilin said, “BAA is one of the largest and most influential business aviation service providers in the Asia Pacific area. It has a mature and full-fledged operational foundation in China. We believe that this collaboration is a win-win case which will bring only positive impacts on both sides.”

General Manager of BAA Mr. Chang Qiusheng said, “During the past 10 years since BAA was founded, we have rooted ourselves deeply in China while looking far into the global market. We are committed to providing high standards of corporate management aviation services for customers at home and abroad. We are happy to have established a partnership with NetJets, sharing the best resources from both sides and offering better services to Chinese customers through a combined model of international branding and localized operation.”

President of Hony Jinsi Investment Mr. Zhao Linghuan said, “We are excited that BAA has become an equity partner with us, NetJets, and Fung Investments. Business aviation is a growing industry in China with huge potential. We will be working together to provide first class services to customers from China and the surrounding areas, establishing a point of entry into a global network for our customers.”