NEWS

Executive Air Announces Purchase of OnStar Management



PRESS RELEASE Executive Air Taxi Corporation Announces Purchase of OnStar Management

Bismarck, ND – July 16, 2008: Executive Air Taxi Corporation today announced the acquisition of Bismarck-based OnStar Management, an aircraft leasing company which provides aircraft to local clinics and hospitals for use in transporting area physicians to satellite clinics located throughout the state providing much needed medical care to many small l communities. The acquisition includes a Piper Navajo twin engine all weather capable aircraft, which since has been completely refurbished including a custom-designed interior by Executive Air’s own interior shop. .

Former owner of Onstar Management Inc. and commercial pilot Dr. Steve Scherr, MD comments: "The sale of OnStar Management, Inc. and its aircraft to Executive Air Taxi Corp. is a logical progression of events in keeping with continued safety of air-travel for the clinics and hospital's physicians and staff, who are continuing to expand their satellite services to rural ND. With safety at the heart of Onstar's modus-operandi, It was my preference that the sale of the company went to Executive Air Taxi Corp. , and ONLY to Executive Air Taxi Corp. This is due to their excellent commitment in "doing things right", having witnessed their previous unparallel service in the aircraft's maintenance, while under lease agreements with OnStar."

“This is another step in the expansion of our charter department to better serve the community and region with air charter options” said Kelly Cermak, Executive Air Taxi Corp. CFO. Executive Air Taxi ‘s two Piper Navajos meet the needs of medical professionals while also offering increased air transportation options to the local business community and improving air service throughout the entire Upper Midwest. The additional aircraft increase Executive Air’s charter fleet to 5 aircraft based at the Bismarck Airport, where the company provides 24-hour charter service.

As part of the transaction, Executive Air is pleased to have Al Sauter on board as a charter pilot. Sauter previously flew for OnStar Management and brings to the company many years of piloting experience.

Executive Air COO, Paul Vetter notes, “We are fortunate to have local healthcare professionals in our community which includes doctors, nurse practitioners, physician assistants and nurses, who through their commitment and dedication provide a vital human need to rural and small town North Dakota. Without their expertise being brought to our smaller communities, many people in our state would have to travel great distances in order to receive the healthcare that they require. All of us at Executive Air are proud to play a small part in affecting the lives of our fellow citizens in a positive way each and every day. There is nothing more rewarding than seeing that early morning departure and having the aircraft return later in the day knowing that patients have received the help they need. This acquisition further demonstrates our commitment to our customers and employees, as well as Bismarck/Mandan and the surrounding communities through the creation of additional quality jobs and services.”

Executive Air Taxi is a full-service, fixed base operator (FBO) located at the Bismarck, North Dakota Municipal Airport. Executive Air’s services include aircraft charter, maintenance, interior completion, rental, and management, parts sales, flight instruction, airfreight, and fuel sales. Executive Air is the only authorized Bell, Cessna, Cirrus and Beechcraft Service Center in the Upper Midwest.