Flying Colours Corp. signs Joint Venture Agreement with China-based Sparkle Roll Technik Co., Ltd. at NBAA 2014

Tuesday 21st October 2014

Flying Colours Corp., the North American MRO, completion and refurbishment specialist has today signed a multi-million dollar Joint Venture agreement with Sparkle Roll Technik Co., Ltd. ("SRT"), a business jet technical solution provider within Sparkle Roll Aviation (Holding) Group ("SRA"). With the phase one hangar facility set up at Linyi City in Shangdong Province China, the main business focus for the new JV will be on private jet cabin modification and aircraft maintenance. The first project, which will begin later this month, will see eight B-registered CRJ-200 aircraft, procured by SRT, converted into VIP configurations.

The work schedule for each of the initial aircraft modifications is expected to take up to eight months and will be undertaken at Flying Colours Corp., Peterborough Canada. The later conversions will have the interiors monuments manufactured in North America, with the JV's technicians completing the final installation in China. As part of the agreement, Flying Colours Corp. will train the technicians of the JV in specific interiors techniques in Canada and will provide on-site support for the ultimate installation in China. In addition, Flying Colours Corp. team will handle all final aircraft certification.

The regional cabins will be converted into a VIP configuration mirroring the Bombardier Challenger 850. As part of the process, Flying Colours Corp. will develop and own the new Supplemental Type Certificates (STCs) relating to the interior configurations which will then be validated by the Civil Aviation Administration of China, CAAC. Each aircraft will also benefit from the installation of Flying Colours Corp's supplemental fuel auxiliary system as engineered by Flying Colours Corp. specifically for CRJ conversions.

The agreement follows numerous discussions between the senior management teams of both companies following the Asian Business Aviation Conference & Exhibition, ABACE, earlier this year. "Sparkle Roll Aviation management was familiar with our ExecLiner conversions and green 850 completion experience and knew we had experience with the CAAC. Our understanding of the certification paperwork, registration process, STCs and extensive modification knowledge complemented their ambitions to further develop this sector of their aviation business. We are excited about working with them and believe we are one of the few international companies to have formed such an agreement with a Chinese aviation company. We are looking forward to a long and prosperous relationship," said John Gillespie, President Flying Colours Corp.

"This is an important day for our company as we further our strategic plans to become one of China's leading aviation houses offering a full range of services to the high net worth market. Our brand is recognized for its provision of luxury products of the highest quality so selecting the right partner for our conversion and modification was a significant decision. We recognize that Flying Colours Corp. complements our existing skill-set and welcome the additional knowledge they will bring to our business," commented Mr. LI Xuefeng (Lee LI), Executive Director/CEO of SRA and Chairman of SRT.

Once converted, the VIP jets will be sold to individuals or operated by Sparkle Roll Jet Co. Ltd (SRJ), the operational subsidiary of SRA. It is anticipated that the agreement will expand to include a wider range of aircraft conversions, modifications and maintenance in the future with both companies eyeing up the opportunities in the wide body sector.

Visit Flying Colours at the NBAA 2014 convention Booth 675

About Flying Colours Corp:

Flying Colours Corp. is a global aviation service company which specializes in Green Completions, Interior Refurbishment, Maintenance, Component Services, Auxiliary Fuel Systems, Exterior Paint and Avionics Installation and Upgrades.  Flying Colours' US operation is an FAA-licensed Class III and IV Part 145 repair station based in St Louis, Missouri.  Flying Colours and its subsidiaries are proud of its worldwide customer base, which has grown owing to its dedication to safety, quality and customer support.

Flying Colours specialises in all mid-large sized business aircraft including the Global Express series, Challenger, Dassault Falcon, Beechcraft/Hawker and Gulfstream models.   Flying Colours is an authorized service centre for both Bombardier and Beechcraft.

About Sparkle Roll Technik Co., Ltd.

Sparkle Roll Technik Co., Ltd. ("SRT") is a total technical solution provider for business aviation. The Chinese headquartered company provides customized technical services of business jet ranging from aircraft distribution, finance consultation, importation expertise, fleet engineering/maintenance and cabin refurbishment and modification.

Sparkle Roll Jet Co., Ltd. ("SRJ"), its affiliated operator, provides full range of operational requirements including flight crew provision, route management in addition to engineering services, FBO services, etc.

The SRT and SRJ businesses belong to Sparkle Roll Aviation (Holding) Group and were founded in March 2014 by several individual investors as well as the Sparkle Roll Group. The Sparkle Roll brand, which has existed for the past 20 years, is often referred to as the King of Luxury in China.

Sparkle Roll Center, the companies headquarter, represents new landmark for China's High Net Worth Individual lifestyle. Locats in the heart of Beijing downtown, Sparkle Roll Center showcases a full size Embraer Legacy 500 mock-up. This is complemented by showrooms displaying the top marques from the car, yacht, watch, wine, golf, jewelry and golf sectors and incorporates a number of VVIP customer experience lounges within the building.