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Aerion Corporation Announces Election of James Stewart to Its Board of Directors and the Appointment of John Holding as Special Advisor

Written by thomas · Filed Under Commercial 

July 29, 2008

thomas

-Design effort enters new phase-

Reno, NV, July 29, 2008 – Aerion Corporation announced today it has elected James Stewart to the Company’s Board of Directors.  Mr. Stewart has served as a senior financial advisor to Aerion Corporation since 2006.  His appointment, unanimously approved by Aerion’s Board of Directors, was effective July 15, 2008.  In addition, the company named John Holding as Special Advisor to Aerion Corporation. In this role, Mr. Holding will lead the next stage of development for the Aerion supersonic jet, working closely with Aerion COO Mike Henderson, Dr. Richard Tracy, Aerion’s Chief Technology Officer, and the growing Aerion engineering organization.

Robert M. Bass, Chairman of Aerion Corporation said, “We couldn’t be more pleased that James is joining our Board of Directors, and that John is joining our ranks as a Special Advisor. James has played a central role in advancing the program over the past two years, and we look forward to continuing to benefit from his wisdom as an active Board member. We are excited about all the positive developments at Aerion and having the benefit of John’s talent and expertise will contribute greatly to that momentum.   No one in civil aviation today has led more successful jet aircraft introductions.”

Brian E. Barents, Vice Chairman of the company, said, “Aerion is ready to take the next step, moving from the largely completed task of defining the aerodynamics of the entire Aerion jet to the advanced design stage. In this phase, systems design will commence, weights and performance will be validated and program participants identified. This is obviously a crucial new stage and having John’s experienced hand will be enormously
valuable to us.” Barents added that the company expects to have further announcements regarding various partnerships and the evolving Aerion organization by the end of the year.

Prior to coming to Aerion, Stewart served in a number of senior financial positions at Bombardier units or divisions, including CFO of Bombardier Aerospace. Stewart will be assuming a senior financial position with respected MRO firm SR Technics, and will continue to be an active and invaluable resource in guiding the Aerion program through his board involvement.

John Holding was previously Bombardier Aerospace’s Executive Vice President, Integrated Product Definition and Planning Engineering. Over a 16-year period, Holding led the introduction of at least one new aircraft product every year—an unprecedented performance in the aerospace industry. Holding was instrumental in creating innovative supplier partnerships and processes for the development and engineering of new aircraft. His industry influence has extended well beyond Bombardier. Among his many efforts to advance the field of aerospace engineering, Holding was a founding member of the Consortium for Research and Innovation in Aerospace in Quebec (CRIAQ), and is its chairman.

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Aerion Corporation of Reno, Nevada is an advanced engineering group formed in 2002 to reintroduce commercial supersonic flight. Aerion continues research begun more than 15 years ago, with the current focus on the design of a practical and efficient supersonic business jet employing patented natural laminar flow technology.

Aerion’s board includes: Robert M. Bass, Chairman of Aerion and President of investment group Keystone, Inc.; Brian E. Barents, Vice Chairman of Aerion and former

president and CEO of Galaxy Aerospace and Learjet; Dr. Richard R. Tracy, who has pioneered the supersonic natural laminar wing concept and serves as Aerion’s Chief Technology Officer; Michael L. Henderson, COO of Aerion and Boeing’s former program manager for high-speed civil transport; and Robert Morse, a Partner at Oak Hill Capital Management.

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