Milestone Aviation to lease four EC145s to Pegaso

Milestone Aviation Group has announced the lease to
Transportes Aereos Pegaso of four Eurocopter EC145 helicopters. Pegaso will use
the four helicopters to serve its new long-term contract with the Mexican
Comision Federal de Electricidad.

The transaction represents Milestone’s first with
Pegaso and its first acquisition of new Eurocopter helicopters. The
announcement coincides with Eurocopter’s delivery of the third and fourth
machines from its manufacturing facility in Donauworth, Germany.

A customer of Eurocopter for more than 30 years,
Pegaso recently won a multi-year services contract with the Mexican Comision
Federal de Electricidad for eight new EC145 helicopters. The announcement today
covers the first four helicopter deliveries, with a total list price of more
than $28 million.

Richard Santulli, Milestone chairman, said, “We
are delighted to celebrate our partnership with a first-class operator in
Pegaso, as well as our first transaction with Eurocopter, the world’s largest
civil helicopter manufacturer. Milestone’s hallmark is doing business creatively
and quickly with high-quality operators around the world. This deal is a
textbook example of how we do business, taking only six weeks from initial
discussions to closing on the helicopters.”

Enrique Zepeda Navarro, director ejecutivo of Pegaso,
said, “For a business of our size, the smart way to acquire eight new
helicopters is a blend of aircraft ownership and leasing to strengthen our
return on invested capital and allow us to pursue additional contracts.
Fortunately Milestone could act quickly and deliver 100% lease financing on the
first four helicopters, which will help us secure superior debt financing terms
on the four remaining machines.”

Dieter John, Eurocopter chief financial officer said,
“We are pleased to see this first transaction with Milestone come to
fruition and believe this type of financing is becoming more important in the
way we do business with our traditional commercial partners and for the
development of new opportunities in the future. We are already looking forward
to other transactions.”

Bill Kelly, Milestone chief executive oficer said,
“The EC145 is a great aircraft and a valuable addition to Pegaso’s fleet
and Milestone’s portfolio. The deal is our first with Eurocopter and we are
excited to start working with this great company. We hope it is the first of
many transactions between our two businesses.”

Since launching in August 2010, Milestone has leased
over two dozen helicopters and private jets valued at more than $200 million.