Press Release

Issued by Gulfstream Aerospace Corporation.

October 14, 2014

Flexjet LLC today announced a relationship with Gulfstream for up to 50 aircraft including the new Gulfstream G500, for which Flexjet will be the North American launch customer and sole and exclusive fractional provider offering access to the aircraft. The agreement, announced in a ceremony at Gulfstream's Savannah, Georgia headquarters, also will include large-aircraft products such as the G450 and the G650.

• The G450 is outfitted for 16 passengers and can travel 4,350 nautical miles/8,056 kilometers with eight passengers.

• The G500's all-new design optimizes speed, wide-cabin comfort and efficiency. The G500, whose first flight is scheduled for 2015, is slated to be able to fly 5,000 nautical miles/9,260 kilometers and is outfitted for 12 passengers.

• The G650 will seat 12 passengers yet can travel farther, faster, than any other business jet. Its range of 7,000 nautical miles/12,964 kilometers enables it to travel nonstop from the U.S. to Europe or Asia.

In addition to the aircraft order, Flexjet and Gulfstream entered into a Product Support Services Agreement under which Gulfstream will maintain the Flexjet Gulfstream fleet over the next 10 years. Given the global capabilities of these aircraft, Flexjet customers will benefit from the highest-quality maintenance and service from Gulfstream's worldwide service support structure.

“Flexjet is privileged to fill the void in the fractional market for new Gulfstream aircraft, becoming the sole and exclusive fractional provider of new Gulfstream aircraft including the G450, G650 and the highly anticipated G500. Our 10-year agreement with Gulfstream will help us meet our owners' demands for longer-range, larger-cabin aircraft, greatly expanding Flexjet's global capabilities,” said Kenn Ricci, Flexjet's chairman. “We are thankful to be starting a new relationship with Gulfstream, marking a milestone in the history of our two companies and in the fractional ownership industry.”