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Saab Aircraft Leasing to deliver seven more

Saab Aircraft Leasing to deliver seven more SAAB 340Bs to Aerolitoral of Mexico Following the success of the Saab 340B in Aerolitoral's fleet, Saab Aircraft Leasing has reached an agreement with the Mexican regional airline to accept delivery of seven more Saab 340Bs during 2002. This will bring Aerolitoral's total Saab 340B fleet to 22 units by the end of this year. "As part of this transaction Saab Aircraft Leasing will take responsibility to market nine Metro 23 aircraft from Aerolitoral's fleet. The additional Saab 340Bs will allow Aerolitoral to continue its fleet upgrade program and serve increasing traffic markets that now require Saab 340Bs," said Saab Aircraft Leasing President and CEO Michael Magnusson. "We are delighted to assist Aerolitoral in its growth plan as Mexico's largest regional airline." Aerolitoral with annual revenue of approximately $115 million USD and carries about 850,000 passengers a year serves 34 destinations across Mexico, current US destinations are Los Angeles, Ontario CA, Tucson, El Paso, San Antonio and Houston, operated under code-agreements with Aeromexico and Delta Airlines. Aerolitoral's main hub is Monterrey, which represents about a third of all activity and its location of head-office and maintenance base, where heavy maintenance is done at its own facility. Other hubs are Hermosillo, Chihuahua and Guadalajara. The airline's Saab 340Bs are flown intensely with an average yearly utilization of 3,000 hours per aircraft. Average sector time flown is one hour 10 minutes. Aerolitoral President and CEO Raul Saenz noted, "With seven more Saab 340Bs replacing a major number of Metro 23s, we will considerably reduce our ASK cost. Our passengers enjoy the comfortable cabin of the Saab aircraft, this additional advantage will allow us to stimulate the market on our extensive route network." Saab Aircraft Leasing manages a portfolio of about 300 Saab 340 and Saab 2000 aircraft leased to 28 airlines around the world. With 38 employees, its head-office is in Washington, DC. Saab Aircraft Leasing is part of the Saab Aviation Services Business Area of Saab AB. Saab is one of the world's leading high-technology companies, with its main operations focusing on defence, aviation and space. The group covers a broad spectrum of competence and capabilities in systems integration. For further information, please contact: Michael Magnusson, Saab Aircraft Leasing Phone: + 1 703 406-7220 Fax: +1 703 406-7227 michael.magnusson@sal.saabus.com www.saab.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/19/20020219BIT01420/bit0003.doc http://www.waymaker.net/bitonline/2002/02/19/20020219BIT01420/bit0003.pdf