News Release
GULFSTREAM SELLS FIRST LARGE-CABIN BUSINESS-JET AIRCRAFT IN CHINA
China’s Hainan Airlines Group Finalizes First Fleet Order -- Three G350s and One G550 Business Jets -- For Its Deer Jet Air
Charter Company
SAVANNAH, Ga., February 18, 2008 – Gulfstream has sold its first large-cabin business jet aircraft in China with the recent multi-aircraft sale of three mid-range G350s and one ultra-long-range G550 to Hainan Airlines Group. The four aircraft will be used as charter aircraft by Deer Jet, a wholly owned subsidiary of Hainan Airlines Group. This aircraft order marks the first fleet purchase for Beijing-based Deer Jet.
Deer Jet is the first business-jet charter operator in China and the leader of Asia’s private jet industry in terms of fleet size and occupancy rates. Deer Jet’s current eight-aircraft fleet, which includes a Gulfstream IV and two Gulfstream G200s, reach more than 125 airports within China and 136 international airports. With nearly 4,000 charter flight hours logged every year, Deer Jet currently serves more than 70 percent of the China business-jet charter market.
“With the addition of the three G350s and the G550, we will be able to optimize our fleet and capacity to meet the demands of our growing customer base,” said Mr. Liu Zhiqiang, chairman of Deer Jet Ltd. “These aircraft will primarily serve our high-end customers, including central government officials, local Chinese and international business leaders, representatives from foreign governments and celebrities.”
The ultra-long-range G550 can fly 6,750 nautical miles nonstop, while the G350 was developed for shorter routes up to 3,800 nautical miles. Both aircraft feature low noise levels and short take-off and landing distances, that enable them to fly into and out of smaller airports. They also share the same PlaneView™ flight deck and the same pilot type rating. This translates to better utilization of flight crews, reduced pilot training costs and lower costs relating to service and parts inventories.
“We are extremely pleased to be providing Gulfstream aircraft to Deer Jet,” said Gulfstream President Joseph T. Lombardo. “We appreciate the confidence Deer Jet has in our products and our company and look forward to serving them in the future.”
Gulfstream plans to deliver the three G350s consecutively in the second, third and fourth quarters of 2010 and the G550 in the first quarter of 2011.
NOTE TO EDITORS
Deer Jet was first established in 1995. The company joined NBAA in 1998, and began offering international flight service soon afterwards, after having passed the WYVERN safety audit. As the first business aviator in the country, Deer Jet has been a pioneer of many developments in the China business aviation industry.
HNA Group is an enterprise group registered with the State Administration of Industry and Commerce in January 2000. HNA Group has expanded to be an aviation group with the primary industry of air transportation, airport management, hotel business, tourism business and other related industries. HNA Group is made up of air transportation business unit, airport management business unit, hotel business unit, tourism business unit and the other related industries unit. Each unit manages its respective enterprises under the direction of the Board of Directors of HNA Group.
Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets, services and supports the world’s most technologically advanced business-jet aircraft. Gulfstream has produced some 1,600 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the wide-cabin, high-speed Gulfstream G150®; the large-cabin, mid-range Gulfstream G200®; the large-cabin, mid-range Gulfstream G350®; the large-cabin, long-range G450®; the large-cabin, ultra-long-range Gulfstream G500® and the large-cabin, ultra-long-range Gulfstream G550®. Gulfstream also offers aircraft ownership services via Gulfstream Financial Services Division and Gulfstream Pre-Owned Aircraft Sales®. The company employs more than 9,100 people at seven major locations. We invite you to visit our Web site for more information and photos of Gulfstream aircraft at www.gulfstream.com.
General Dynamics, headquartered in Falls Church, Va., employs approximately 83,500 people worldwide and reported 2007 revenues of $27.2 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.
