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Petters Aviation Acquires Charter First

Written by thomas · Filed Under Aeronautics News 

August 4, 2008

thomas

Acquisition Expands Petters Aviation’s Presence at MSP, Adds Convenience
for Charter First Customers

MINNEAPOLIS, Aug. 4 /PRNewswire/ — Petters Aviation today announced
that it has acquired Southwest Aviation, Inc. (d/b/a Charter First and
operated by Midwest Aviation), a private air charter carrier based in
Marshall, Minn. Terms of the transaction were not disclosed.

Charter First was formed in 1962 and is a Federal Aviation
Administration (FAA) Certified Air Carrier operating a diverse fleet of jet
and turboprop aircraft. The company provides business and leisure travel
services to all parts of the continental United States, as well as Alaska,
Mexico and all parts of the Caribbean. Charter First also offers aircraft
management services and consulting on aircraft acquisition, ownership and
operations for private parties.

Petters Aviation plans to retain all Charter First employees and
Charter First will continue to maintain offices in Marshall, Minn. Peter
Johnson, Charter First’s President and majority shareholder, will continue
with Petters Aviation in the capacity of Executive Vice President and will
oversee and manage the day-to-day operations of this new air charter and
jet management division.

Jay Salmen, President and CEO of Petters Aviation, said the acquisition
of Charter First complements the company’s existing interests in the
aviation sector, creates new revenue streams in both charter service and
aircraft management and will enable Petters Aviation to better use certain
ground-side assets and personnel at its headquarters located on the
airfield of the Minneapolis – St. Paul International Airport.

“We’re thrilled to be adding Charter First to the Petters Aviation
family,” said Salmen. “Charter First has built a strong business by
providing outstanding service to charter customers for more than four
decades. Demand for the convenience, flexibility and productivity
advantages of charter service continues to grow and this acquisition
enables us to participate in that growth through both charter operations
and aircraft management.”

Pete Johnson said that the sale of Charter First to Petters Aviation
will further enhance convenience for charter flyers and enlarges the growth
opportunities for the business. “The ability to base our aircraft at the
Minneapolis – St. Paul International Airport and use Petters Aviation
personnel and facilities to grow charter operations will make charter
service originating or ending at MSP even more convenient for our
customers,” said Johnson. “In addition, we expect affiliation with Petters
Aviation and Petters Group Worldwide will benefit our longer term fleet
modernization plans, as well as expand our aircraft management
opportunities.”

About Petters Aviation

Petters Aviation is a division of Petters Group Worldwide and is an
emerging provider of value-added services to the executive and corporate
aviation market. Most recently, the company has entered into a marketing
agreement with Airbus and is working in cooperation with Airbus to further
the marketing and sale of Airbus corporate jets in North America.

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