Introducing P. 180 Avanti II First Time in the Middle East 

Le Bourget 19th June 2007 -  Saraya Private Aviation, a subsidiary of Saraya Holdings Ltd, and Piaggio Aero Industries S.p.A. announced today at the Paris Air Show the agreement to provide "Saraya Private Aviation" with six P.180 Avanti II aircrafts to be delivered in 2008/2009.  Saraya Private Aviation will commence Private Jet Charter Operation across the MENA region (Middle East and Northern Africa) in 2008.

Marwan Atalla, Acting CEO of Saraya Private Aviation, said: "We are pleased to announce that Saraya Aviation has selected Piaggio Aero to provide us with P. 180 Avanti II, our choice was predominantly based on the requirements of our shareholders and customers.  We did a careful analysis of current and future needs, and decided that the P.180 Avanti II is well suited for the purpose, as we are positive that it will comply with our high standards and expectations".

We are delighted that Saraya Private Aviation has chosen six P.180 Avanti II for its incoming activity as a charter and aero taxi operator. The MENA region is a major developing hub for executive aircraft services, we are glad to offer the most comfortable, efficient and fast aircraft for corporate flights to Saraya travellers declared Jos Di Mase, Piaggio Aero CEO. We have had extraordinary success in both the European and North American business aviation markets.  Now we starting to explore new markets, and the Middle East offers a very high potential for return on investment.

Saraya Private Aviation is an Aircraft Charter Operator, designed at servicing its ever growing stakeholders, creating an exclusive option of executive flights; proving yet again their leadership in their fields of expertise by introducing a new, unique, and luxurious executive aircraft service for their customers, special travellers and businessmen. This comes as a result of meeting the increasing needs and demands of today's world and leading the industry with added value services, eminent ideas and competitive edge services.

The P180 Avanti II aircrafts were selected by Saraya Private Aviation due to their unmatched operational flexibility, cost efficiency and performance The Piaggio Aero executive aircraft offers the speed of a light jet aircraft, the comfort of a large, quiet, midsize and real stand up cabin, and fuel efficiencies that are nearly 40% higher than most business jets. The P180 Avanti II features the fully digital, automatic flight control and displays of the latest generation Pro Line 21 avionics system, the most advanced on the market today. The maximum take-off weight (MTOW) of 12,100 lbs gives the P180 Avanti II greater payload range and  the introduction of the updated engines (P&WC PT6A-66B) providing higher performance, faster cruise speeds and more efficient operation making the Avanti II the most up-to-date and fastest turboprop in production competing successfully in the light jet segment.

-Ends-

About Saraya Private Aviation:
Saraya Private Aviation, a Private Jet Charter Operation, is a subsidiary of Saraya Holdings Ltd. (A real estate development company investing in the MENA region in Travel and Tourism industries, established in 2005, with the vision of turning undiscovered natural, rich and unique locations into premium tourist resorts destinations).

Saraya Private Aviation, announced in May 2007 at EBACE, the European Business Aviation Convention and Exhibition in Switzerland, is designed at servicing individuals as well as large corporations, banks and government officials in addition to visitors, tourists and businessmen.

Saraya Private Aviation's fleet will grant short and long distance trips, taking off and landing from any destination in the Middle East, North African and Europe, and will commence operations in June 2008.

Piaggio Aero
Piaggio Aero Industries S.p.A. is active in design, manufacturing and maintenance, repair and overhaul of aircraft, engines and engine parts under license, and structural components. The company has facilities in Genoa, Finale Ligure and Naples (Italy) and subsidiaries in Nice (France) and in West Palm Beach, FL. (U.S.A.). Technology and commitment in research and development, along with innovative design solutions, is the driver for Piaggio Aero Industries current and future programs. Core product for Piaggio Aero Industries is the P 180 Avanti II twin turboprop pusher business / utility aircraft.

P.180 Avanti II
The P180 Avanti II, equipped with the new Rockwell Collins Pro-Line 21 avionics and currently in production, enables great performance in terms of cruising speed and a high loading capacity which, together with its brilliant performance and futuristic design, makes it the fastest and most advanced executive turboprop in the world. The P180 Avanti II has an endurance of over 1,700 miles at a speed of 400 kts and a maximum cruising altitude of 41,000ft. Its overall performance is similar to that of a Jet but with 40% less operating costs. Moreover with a height of 69 and depth of 73, the P180 offers passengers a level of comfort matching only that of bigger and more costly aircraft. The Pratt & Whitney, Canada PT6-66B engines, rated at 1630 thermodynamic HP, are de-rated to 850 SHP.  They power the Avanti II to a certified altitude of 41,000 feet and speed of 402 kts. at 30,000 feet with a maximum operating mach (Mmo) of 0.70. The P180 is licensed to operate with a single pilot and can board up to nine passengers.

Saraya Private Aviation
Dimah Khalili
Media Communication and PR Manager
Saraya
Tel: +962 6 5505444
Fax: +962 6 5561738
E-mail: dkhalili@sarayaholdings.com

For further information please contact:
Piaggio Aero Industries  
Enrico Sgarbi
Ph: +39 010/6481218  +39 335 7431073
Or visit: www.piaggioaero.com
www.sarayaholdings.com
mailto: esgarbi@piaggioaero.it

Press Release 2007