JetBird Appoints Stefan Vilner as CEO

JetBird AG ('JetBird' or the 'Company'), the first Pan-European,
low cost executive jet operator, today announced the appointment of Mr
Stefan Vilner as CEO. Mr. Vilner joins JetBird from Sterling Airlines,
Europe's fourth largest low-cost airline, where he was Chief
Commercial Officer (CCO). Stefan is also Chairman of the European Low
Fares Airline Association (ELFAA).

Stefan Vilner has been CCO at Sterling Airlines for the past four
years where he was responsible for the airline's revenue and yield
management, advertising and branding, distribution and product
development. Mr Vilner headed the airline's commercial efforts as they
turned a business with combined losses of EUR 120 million into a
profitable company within one year. Stefan's achievements with
Sterling include growing revenue by 42% over the past financial year
and cutting distribution costs by 25%. Mr Vilner was also responsible
for the migration of 95% of Sterling's sales to its online booking
platform. Europe's fourth largest low-cost airline, Sterling Airlines
was formed in 2005 by the merger of Sterling Airways and Maersk Air.
Sterling Airlines is Scandinavia's largest low-cost carrier.

The ELFAA, of which Mr Vilner is Chairman and a former President,
was established to represent and protect the needs of low cost
airlines and their customers. Its members include Europe's two largest
low cost carriers, Ryanair and Easyjet.

Domhnal Slattery, Founder & Chairman of JetBird, commented "We are
delighted to announce the appointment of Stefan Vilner as CEO of
JetBird. JetBird's business model utilises the operating principles of
successful low-cost commercial carriers to deliver a premium private
jet experience at a significantly lower price point than existing
players. Stefan's knowledge and track record in the European low-cost
airline industry will be key to delivering compelling value for our
customers."

Mr Slattery added "Web based sales will be JetBird's preferred
method of distribution, and Stefan's expertise in this area will be
extremely beneficial as we come to market. Stefan will now lead the
JetBird team to bring Europe's first low-cost on-demand private jet
operator to our first flight in April, 2009."

Stefan Vilner, incoming JetBird CEO, added "I am delighted to be
joining Domhnal and the team at JetBird. We have a very exciting
proposition that will revolutionise the private jet market marking the
private travel experience widely available to the corporate travel
market and the mass affluent."

Mr Vilner concluded "JetBird now has best-in-class aircraft, a
management team with significant private and commercial aviation
expertise and the knowledge and ability to replicate the low-cost
model in private aviation."

About JetBird

Commencing operations in April, 2009, JetBird will become Europe's
first true low cost private jet airline, offering a private jet
experience at up to 50% less than current branded operators. With
aircraft based at a number of demand centres around Europe, JetBird
will offer on-demand private jet charter at a price that offers true
value for money, thus making private jet travel affordable for middle
and senior level executives and the mass affluent.

About Stefan Vilner

Prior to joining Sterling, Stefan was the Chief Executive Officer
at DTF Travel, a Scandinavian tour operator with subsidiaries in
Denmark, Germany, Norway, Sweden, Spain and the UK. During his time at
DTF Travel, Stefan increased the company's revenue from EUR 8 million
to EUR 25 million. Stefan also established an online customer database
for DTF that grew to 350,000 members. Previously Mr Vilner served as
Director of Travel & Transportation at Valtech, an international IT
consulting group and as Head of International Sales & Marketing at Go
Fly Ltd., the low cost carrier launched by British Airways in March
1998. Stefan Vilner is an avid linguist and is fluent in seven
European languages.

About Sterling

Sterling is Europe's fourth-largest low-cost airline, and the
largest in Scandinavia, operating both charter and scheduled flights
to more than 80 routes across Europe. The company has a fleet of 25
Boeing 737-800s, 700s and 500s. Sterling is based in Copenhagen and is
part of Northern Travel Holding. Both in 2005 and 2006 Sterling was
awarded "Best Low-cost Carrier" at the Danish Travel Award by Danish
consumers.

About Claret Capital

Claret Capital, founded by Domhnal Slattery in 2005, is a private
investment firm based in Dublin, Ireland. Claret Capital manages the
assets of a small number of ultra high net worth individuals and
families and has a global investment mandate. The firm has completed
investments in the Private Equity, Real Estate, Media and Technology
sectors. Claret Capital has also founded a number of new ventures
including Blue Ocean Wireless, a company focused on expanding
communication capability in the merchant maritime sector. Blue Ocean
Wireless provides, for the first time, GSM connectivity for seafarers
in deep ocean water, where no other network exists.