Nextant delivers first 400XT to Flight Options


Company expects to deliver a further two examples by year end and deliveries to continue until 2015

Nextant Aerospace delivered the first of
40 new 400XT aircraft to Flight Options. The delivery took place during a
hand-over ceremony at the NBAA in Las

“Today’s business jet customer demands
value, performance and comfort, and we believe the 400XT delivers all three
in a package well suited for both the fractional and jet card program
market,” said Kenneth C. Ricci, chief executive officer of Nextant Aerospace.

The 400XT took the best of the Hawker 400 – a strong airframe,
comfortable cabin and good speed – and married it with modern engine
technology and avionics to deliver a plane that’s more fuel efficient, faster
and even more comfortable than the original,” added Michael J. Silvestro,
chief executive officer of Flight Options.
Nextant has delivered the equivalent of a new jet at
approximately half the cost of competing models, a combination that we
believe will resonate with our owners and members.”

The inaugural delivery follows last week’s
certification of the 400XT by the Federal Aviation Administration after a
three-year development and flight testing process. Flight Options originally
placed a $150 million order for 40 Nextant aircraft in October 2010. Nextant
anticipates delivering an additional two 400XTs to Flight Options in 2011 and
eight in 2012. Deliveries under the Flight Options order are scheduled to
occur through 2015.

“We believe demand for the 400XT is
sustainable, given the appeal of this aircraft to a wide range of buyers, not
just fractional fleets,” added Ricci. “We are ramping up capacity to meet our
delivery schedule and are excited about the future of this amazing aircraft.”