Saab Aircraft Leasing Posts Strong Year in 2005

The year 2005 will be recorded in aviation history as the year of the
“turboprop comeback”. New turboprop sales surpassed regional jet sales
for the first time in 10 years, and in turn Saab Aircraft Leasing
completed a very successful year.

SAL placed 32 aircraft during last year including 10 Saab 2000s and 22
Saab 340s (See attached Appendix for details).These turboprops were
placed with existing customers such as Carpatair, Colgan, Eastern, IBC,
Lithuanian, Loganair, OLT, Penair and REX. In addition, new customers
were sourced during 2005 including Bimini, FlyLPI, Mash Executive,
Pacific Coastal and RAF Avia.

Included in these transactions were two dedicated Cargo Saab 340As to
IBC and RAF Avia further securing the Cargo market share for the Saab
340. These latest orders will grow the total to12 Saab 340As all Cargo
in service adding to five existing Quick Change-aircraft.

As SAL enters 2006, the company is already off to a great start with
placement activities for a 4 Saab 340A aircraft in progress. The company
has the lowest inventory of available aircraft in many years, totaling
only seven Saab 340As, one S340B and no Saab 2000s. Some 20 aircraft are
scheduled for lease returns during 2006. This is nearly the number of
aircraft SAL has been placing annually.

“The transactions for 2005 show a wide spread amongst diverse customers
in many countries showing the continuing worldwide appeal of the Saab
aircraft,“ said Michael Magnusson, President and CEO of Saab Aircraft
Leasing. “We are also very pleased that third parties placed another 87
Saabs to meet the demands of the market.”

The worldwide fleet of Saab 340s and Saab 2000s is approximately 500
units operated by approximately 50 customers in 20 countries. By
December 2005, the Saab 340 fleet had accumulated 11.8m flight hours and
13.2m cycles. Highest time aircraft is at 44,500 hours, and highest time
cycles is at 53,700. The Saab 2000 fleet had accumulated 970,000 hours
by December and 956,000 cycles. Highest time aircraft is 23,200 hours
and 22,400 cycles reflecting a younger fleet.

Saab Aircraft Leasing manages a portfolio of 218 Saab 340s and Saab
2000s leased to 25 customers in 13 countries. With 33 employees, the
company’s head office is in Washington, DC and SAL has regional offices
in Stockholm, Sweden and Tokyo, Japan. SAL is part of Saab AB.

Saab is one of the world’s leading high-technology companies, with its
main operations focusing on defence, aviation and space. The group
covers a broad spectrum of competence and capabilities in systems

For further information please contact:
Michael Magnusson, Saab Aircraft Leasing, Telephone +1 703 406 7220


Saab Aircraft Leasing reports the following new business during 2005:

FlyLPI (Spain) Two Saab 340A Sale
IBC (USA) One Saab 340A Cargo, Sale
RAF Avia (Latvia) One Saab 340A Cargo, Sale
Bimini(USA) One Saab 340A Sale
Mash Executive(Lebanon) One Saab 340A Sale
Transwest (Canada) One Saab 340A Sale
REX (Australia) Two Saab 340A Sale
Pacific Coastal (Canada) Two Saab 340A Sale
Bridges (UK) One Saab 340A Cargo, Sale
Loganair (UK) Two Saab 340A Lease
Colgan (US) Three Saab 340A Lease
Penair (USA) One Saab 340A Lease
Shuttle America (US) One Saab 340A Sale
Japanese Coast Guard Two Saab 340B-Plus Sale
(Conversion by Saab Aircraft)
Amber (Lithuania) One Saab 340B Lease
Eastern (UK) Two Saab 2000 Lease
Carpatair (Romania) Two Saab 2000 Lease
OLT (Germany) One Saab 2000 Lease
Lithuanian Airlines Four Saab 2000 Lease
Un-announced One Saab 2000 Sale

Total 32 (10 Saab 2000s and 22
Saab 340s)

Boldindicates new customers to the Saab family.

Third Party Activities.
Saab aircraft were in demand during 2005, therefore a large number of
aircraft have been placed. These consist of 40 Saab 340As, 35 Saab 340Bs
and 12 Saab 2000s. This total of 87 Saab transactions added to the 32
SAL aircraft makes an unprecedented 119 Saab aircraft placements. SAL
placed 37% of the Saab 340As, few 340Bs because of lack of availability,
and 45% of the Saab 2000s.
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