Press Release

Issued by FAI rent-a-jet.

July 3, 2015

German GA operator FAI rent-a-jet Aktiengesellschaft has confirmed the exit of its Greek shareholder MIG Aviation Holding Ltd. (a 100% subsidiary of Marfin Investment Group). “I can confirm that MIG´s stake in FAI was acquired by MIG´s co-shareholder Axtmann Holding AG at a consideration of €25.2 million in cash and now again owns 100% of FAI. Following a seven-year successful cooperation MIG decided to sell its stake in FAI for strategic reasons. In respect to the ongoing consolidation in general aviation business, FAI now is in a position to look into strategic partnerships. I am currently looking myself into one or other potential acquisitions in the near future”, said FAI founder and chairman Siegfried Axtmann in a first statement, after MIG announced the transaction today in a public notification to the Athens Stock Exchange.  FAI is Germany's largest operator in general aviation by fleet utilization, operating more than 12,700 hours of airtime in 2014, and it has the second largest fleet in Germany, incorporating 21 jet aircraft. The business specialises in air support in hostile areas for the world´s largest NGO, currently operating six aircraft under long term charter contracts and is also one of the world´s largest air ambulance fixed wing operators. Headquartered at Albrecht Dürer International Airport in Nuremberg, Germany, it operates a 9,000 m² carbon neutral FBO. A full time staff of 180 people, including 60 mechanics and engineers are employed at FAI´s in house MRO in addition to further 50 part time physicians and paramedics. FAI operates satellite offices in Dubai and Miami, as well as line stations in Baghdad, Kabul, Entebbe, Abidjan, Bamako and Dakar. FAI anticipates operational revenues of around € 80 million in 2015.