Commercial agreement with Jersey Airport

RNS Number : 7484P

Hangar 8 Plc

29 October 2012

Hangar8 announces commercial arrangement with Jersey Airport

Hangar8, one of the country's leading private jet companies, today announces that it has entered into a commercial agreement with Jersey Airport to construct a new fixed based hangar operation at the airport.

The development, which is subject to planning permission, will involve the construction of a new 55,000 square feet hangar which will enable Hangar8 to provide handling and maintenance operations to the private jet customers on the island.

The planning application is likely to be submitted in the first quarter of 2013 and the facility will commence operations in 2014. Further updates on progress will made in due course.

Dustin Dryden, Chief Executive, Hangar 8, said: ''This agreement represents a significant revenue and growth opportunity for Hangar8 and is in-line with our strategic objective of growing profitably into economically advantageous geographical areas. The presence of a fixed new state-of-the-art operation in Jersey will not only allow Hangar8 to further expand its offering to our existing global client base, but will also facilitate incremental growth in our aircraft management, charter and maintenance business through relationships with Jersey's significant private aviation market.''

Enquiries

Hangar8 plc +44 (0) 1865 372215

Dustin Dryden, Chief Executive

Philip Brady, Chief Financial Officer

Blythe Weigh Communications + 44 (0) 20 7 138 3204

Natalie Raper +44 (0) 7710 333470

Paul Weigh +44 (0) 7989 129658

Seymour Pierce +44 (0) 20 7107 8000

Mark Percy/Julian Erleigh (Corporate Finance)

David Banks/Katie Ratner (Corporate Broking)

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