Airlift USA, LLP and Principals Overview

Airlift USA, LLP, a fifty-fifty partnership, was formed by Hugh R. Jones and James P. Foody for the purpose of acquiring, refurbishing and leasing regional transport and corporate aircraft. Both of Airlift’s principals have wide-ranging expertise in managing a variety of aviation enterprises, including maintenance, repair and overhaul facilities, fixed-base operations, regional airlines, aircraft manufacturing and leasing companies.

Airlift’s management team has wide-ranging industry experience and benefits from having worked together extensively.

Hugh R. Jones, Chairman		James P. Foody, Managing Director

Experience Managing Director, Airwork NZ 1977-present Chairman, Airlift 1995 - present Director, New Zealand Civil Aviation Authority 1995-present As Chairman, Mr. Jones brings considerable management experience and industry expertise to the Airlift team. He plays an active and integral role in determining its strategic direction. As Managing Director and majority shareholder of Airwork (NZ) Ltd., and a Director of Pacific Turbine and Queensland Airline Holdings, Mr. Jones has been involved in the aviation business for over 30 years. He has built Airwork into New Zealand’s second largest aviation enterprise (only Air New Zealand has a larger revenue base) with six facilities nationwide. Mr. Jones is a founding member of the New Zealand Civil Aviation Authority and has served on its board for a number of years.		Experience Airlift USA, Managing Director January 1999 - present Newcourt Capital (CIT), Vice President December 1997- April 1999 Fairchild Aircraft, SVP Chief Marketing Officer May 1991- December 1995 Avline Leasing, President & COO January 1988 – April 1991 Fairchild Aircraft, SVP Marketing & Product Finance January 1985- October 1987 Fairchild Aircraft, Regional Sales Manager 1980-1985 As Managing Director, Mr. Foody has responsibility for profit and loss, and day-to-day operations. He is an experienced aerospace industry executive who has held senior management positions with both airframe manufacturers and financial institutions. During his 25-year aerospace career, Mr. Foody has specialized in regional and corporate aircraft financing and sales, and has considerable international experience and transaction exposure, having completed aircraft deals involving more than 700 aircraft in 30 countries.

Scott Schawe, Finance Director

Experience Financial Consulting May 2001-present Fairchild Dornier Corporation, VP and Treasurer August 1997-May 2001 Fairchild Aerospace Corporation, VP Accounting/Controller October 1994-August 1997 Fairchild Aircraft Corporation, Tax Manager September 1992-October An independent contractor to Airlift, Mr. Schawe is responsible for the Company’s financial management and reporting. Mr. Schawe is a Certified Public Accountant (Texas). From 1984 to 1992, he was a tax consultant for the international accounting firm of Deloitte & Touche. As a manager in the tax department, he was responsible for corporate tax services for businesses of all sizes. From 1992 to 2001, Mr. Schawe held positions of Tax Manager, Controller, Vice President of Accounting, and Vice President and Treasurer of Fairchild/ Dornier Corporation and its predecessors. Fairchild, with facilities in Texas and Germany, developed and manufactured regional and corporate (turboprop and jet) aircraft, including the Merlin series. Mr. Schawe’s broad financial experience at Fairchild included responsibility for, or significant involvement in: annual audit and accounting issues, corporate finance, product finance, tax exams and protests, and cash/debt management. Merlin One number tel: 210-366-8766