| Code: 156092 |

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Luxaviation Group announced a strategic collaboration with Paragon Aviation GroupTM, the US facilitator of The Paragon NetworkTM, creating a new network of 52 Fixed Based Operators (FBOs) around the world, of which 25 are in the US.

The strategic collaboration includes Luxaviation Group’s FBO management company, ExecuJet, Paragon Aviation Group and BAA (owned by CMIG Aviation and part of the China Minsheng Investment Group), which provides high-level aircraft management services for business jet owners in the Greater China region.

ExecuJet’s FBOs will join The Paragon NetworkTM in the coming months, doubling its size and providing a substantial international presence.

In addition, The Paragon NetworkTM will see its traffic increase significantly as its FBOs become the preferred facilities for both Luxaviation Group and BAA’s combined fleet of more than 300 business jets.

Patrick Hansen, CEO of Luxaviation Group says:

“We are proud to have the opportunity to combine our expertise and create an even larger network of more than 50 FBOs.”

Ettore Poggi, Group FBO Director, Luxaviation Group, adds:

“We have a strong commitment to service excellence and Paragon Aviation Group enhances and extends our high-quality standards of service which we offer to our clients throughout our FBOs.”

Mike Delk, President and CEO of Paragon Aviation GroupTM says:

“The agreement with Luxaviation Group, including BAA and ExecuJet, will increase the traffic at our FBOs. We are looking forward to bringing the expertise of two elite FBO networks together to enhance the customer experience as they travel around the world.”

President of CMIG Aviation Mr. Zhu Yimin says:

“Joining forces with The Paragon Network will undoubtedly help Luxaviation Group play a highly important role in the further growth and development of its activities in the US business aviation market.”

 

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