Flying Colours furthers Asian ambitions through first international alliance.

Tuesday 11th October 2011

Memo of Understanding will be signed with Hong Kong-based Metrojet.

Flying Colours Corp., a global aviation service company which specialises in interior completions and refurbishments on business aircraft is preparing to enter its first international partnership with the signing of a MoU with Hong Kong-based business aviation services provider Metrojet. The agreement will see Flying Colours Corp. strengthening its service offering to support its growing Asian customer base and enhance its overall position in the international completion & refurbishment business. The MOU will be signed at NBAA in Las Vegas on 10th October (Stand No N5500).

Under the new partnership, Flying Colours Corp. plans to open a base of operation in the region that will focus on interior refurbishment for a range of mid to large sized business aircraft types including the Global Express series, Challenger types, Dassault Falcon, Embraer, Hawker and Gulfstream models.

The structure and logistics of the partnership is still being finalized between the two companies and ratification is expected in mid 2012.

Metrojet is a leading business aviation service provider in Asia and Hong Kong's only fully licensed business jet operator, providing the complete range of business aviation services, including: aircraft charter, comprehensive aircraft management, full aircraft maintenance capabilities, aircraft co-ownership programs and aircraft acquisition and sales. Metrojet operates the leading corporate aircraft maintenance service centre in Asia providing heavy/scheduled inspections, repair services and regional AOG support for all business aircraft around the clock.

"This is the first time that Flying Colours Corp has partnered with an international company so we are excited by the opportunity it offers. This partnership not only indicates Flying Colours Corp.'s strong business growth in the region, but also demonstrates our commitment to continuously improve support and services for all of our customers. Metrojet is a leading aviation services provider in Asia and this partnership will enhance our brand and our position in aircraft refurbishments and completions in the region," said John Gillespie Chief Executive Officer of Flying Colours Corp.

"Metrojet is proud to embark on this venture and partner with Flying Colours Corp. with whom we already have a very strong relationship. It will enable us to better serve the Asian Market and to further enhance our service offering and product portfolio to our growing customer list. We look forward to a long term partnership with Flying Colours Corp." said Björn Näf, Chief Executive Officer of Metrojet.

About Flying Colours Corp:

Flying Colours is a global aviation service company which specialises in Green Completions, Interior Refurbishment, Maintenance, Component Services, Auxiliary Fuel Systems, Exterior Paint and Avionics Installation and Upgrades. Flying Colours' US operation JetCorp Technical Services 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 their worldwide customer base which has grown these past few years 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, Embraer, Hawker and Gulfstream models.

www.flyingcolourscorp.com

About Metrojet:

Metrojet Limited was established in 1995 and is part of the Kadoorie Group, sister company of The Peninsula Hotels. Metrojet pioneered business aviation services in Hong Kong and is a leading operator and maintenance provider of business jets in the region. The company was awarded an Air Operator's Certificate (FAA Part 121 equivalent) in June 1997. Metrojet is Hong Kong's only fully licensed business jet operator, providing the complete range of business aviation services, including: aircraft charter, comprehensive aircraft management, aircraft maintenance service, aircraft co-ownership programs and aircraft acquisition and sales.

www.metrojet.com