19 February 2009 (Dubai, UAE): *If you're a cash buyer in the market for a business jet, there has never been a better time to buy, according to Dubai-based Empire Aviation Group (EAG). The company has just completed a deal on behalf of a private buyer for a pre-owned Gulfstream G550 business jet which EAG acquired from a corporation in the US. The aircraft had flown just 30 hours and was bought for cash for a significant discount to 2008 prices. EAG is working with other buyers who recognise the unique buying opportunity and continues to scour the aviation world looking for aircraft on behalf of clients.

"There is an unprecedented buying opportunity for anyone who is looking for a business jet, especially if it is a cash transaction," says Steve Hartley, Executive Director at Empire Aviation Group. "We are focusing now on saving significant sums for our clients as we source aircraft worldwide. There are still a lot of buyers for pre-owned and new business jets. For EAG, 2009 will be an outstanding year for our aircraft sales division, with at least three new aircraft in the order book for delivery this year, in addition to the pre-owned aircraft sales in the pipeline."

According to Empire Aviation Group, the buying opportunity is especially attractive to private individuals who are cash buyers, as multinational companies continue to downsize and sell off assets. For buyers who require it, finance is still possible although not as easy or available as before, and the buyer will probably need a cash deposit of around 40 per cent of the purchase price.

"It's a buyers' market right now with prices of pre-owned aircraft at around 20 per cent lower than the 2008 prices. This represents a tremendous opportunity which we are taking advantage of in order to create value for our clients. These are the lowest prices we are ever likely to see for business jets and with aviation fuel prices at less than half their peak levels in 2008, and charter prices adjusted accordingly, private aviation continues to hold its own. As a result, we expect 2009 to be the company's best year since we began operations," says Steve Hartley.

The Gulfstream G550 is a large cabin, ultra long range business jet which can comfortably link major cities such as Dubai-Washington DC, London-Singapore, Tokyo-Paris, non stop. It can be configured for up to 18 passengers. The Empire Aviation Group acquired Gulfstream G550 will be managed by the owner, based outside the Middle East.

-Ends-

About Empire Aviation Group
Empire Aviation Group is a general business aviation company founded in the United Arab Emirates (UAE) in 2007 to manage the regional aviation interests of UAE-based Emirates Investment Group and in response to the opportunity of the Middle East regional market for business aviation services. The new company has assembled a highly experienced team of aviation specialists and has already been appointed as a GCC regional distributor (with exclusivity in some countries, including the UAE) for Hawker Beechcraft, the world's leading business, special-mission and trainer aircraft manufacturer. In March 2008, Empire Aviation Group and Luxury Air Travel by Dnata signed an agreement confirming Empire Aviation Group as a preferred provider of executive jet charter services. EAG currently employs around 60 staff.

www.empire.aero

Issued on behalf of Empire Aviation Group Media contacts:
Jonathan Walsh/Beibars Abdi
WPR
Dubai
jon@wprme.com
tel: +971 050 4588610

© Press Release 2009