Avolus UK Limited to separate from Eurojet Romania and VIP terminal project at Baneasa Airport

Avolus UK Limited have announced significant
expansion plans for 2011 through 2012 including offices in Russia and China and
a new VIP freight service. The company has announced that it has parted from
business jet operator, Eurojet Romania,
including its VIP terminal project at Banaesa
Airport in Bucharest.

This allows Avolus to focus on growing
its charter, aircraft management and aircraft sales and acquisitions divisions.

Avolus Ltd is now 20% owned by Avolus
chief executive and founder, Alexis Grabar. The majority of the shares (77%)
remain with the European Family Office, DP Holding, who originally invested in
September 2009, buying the 11% stake of Dragon’s Den entrepreneur James Caan.

Under its new structure, the Avolus
management team is now comprised of Alexis Grabar (CEO & Founder) and Simon
Teakle (CFO). The reorganized management team has appointed Richard Thomas as
Special Advisor to the CEO. Mr Thomas has extensive experience in marketing in Europe,
Russia and the United States, having worked with NetJets Europe,
Jet Republic and Bombardier Flexjet.