News Release

Gama Aviation forms aircraft contract management and charter services joint venture in Hong Kong

Gama Aviation Plc, one of the world's leading business aviation services providers, is proud to announce that it has established a business aviation joint venture with Hutchison Whampoa (China) Limited.

Initial operations are to begin in Q2 2015 with two additional aircraft based in Hong Kong, increasing the Gama Aviation managed fleet to 146 aircraft. Leveraging off Gama Aviation's existing infrastructure in the region, the joint venture is focused on providing management, charter, maintenance and repair and fixed base operations in the PRC, Hong Kong and the wider Asia region. The joint venture provides strong platform for growth in a fast expanding market as China is predicted to be the third largest business jet market by 2022.

China is widely regarded as one of the fastest growing markets for business jet services yet today there are only forty-five operators operating within greater China. The new company, Gama Aviation Hutchison Holdings Limited, which is incorporated in Hong Kong, will be indirectly owned as to 50% by each of Gama Aviation and HWCL. Regional subsidiaries will be established under the management of Gama Hutchison to operate the full range of business aviation and ground services.

The joint venture will initially offer aircraft contract management and charter services from Q2 2015 in the PRC, Hong Kong and the wider Asia region. The full service offering to include fixed base operations, maintenance and repair will be scaled up over time. On commencing operations, the new trading subsidiary, Gama Aviation Hutchison (Hong Kong) Limited, will manage two aircraft in Hong Kong.

Marwan Khalek ceo of Gama Aviation Plc commented “This venture allows us to significantly build on our existing investment and infrastructure in the region and provides us with an excellent platform for revenue growth. We see Asia as a large business aviation market and one with huge potential for us. We now have the opportunity to not only serve the PRC, Hong Kong and the wider Asian market, but also link up to our strong regional businesses in Africa, the Middle East and Europe, all of which are major asset destinations for Chinese businesses and individuals. This joint venture evidences not only our commitment to the Asian market, but also our appeal to like minded multinational conglomerates seeking to enter the private aviation services sector with scale operators.”