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Nissho Iwai Corporation (NIC) and ACI Pacific (ACIP) complete Joint Venture, ShareJet, to offer Boeing Business Jet

Sep. 11, 2002

TOKYO(September 11, 2002)-Nissho Iwai Corporation (NIC), a leader in commercial aviation sales in Asia, and ACI Pacific (ACIP), the leading provider of business aviation service and support in Asia and the Pacific Rim announced today that they have entered into an agreement to begin operations of a Boeing Business Jet (BBJ) for Partnership Sales, Block Charter and Contract Charter in Asia and The Pacific Rim under the name ShareJet. The Joint Venture will address the underserved Asian business aviation market providing U.S. quality service and support operating under Federal Aviation Administration FAR Parts 91 and 135 with American flight crews located on the territory of Guam. ShareJets differentiates itself from other providers in the region by expanding its vision of Partnership Sales versus the typical fractional programs. Moreover, ShareJets flight and maintenance crews are all trained and certified to the highest U.S. standards, rivaling that of the best flight departments in the U.S.

According to Terry Habeck, President and CEO of ACIP, "We are excited at the opportunity to further service our clients by offering the BBJ. Many companies here in the U.S. have been looking for a business aviation solution in the Asia-Pacific region with the capabilities of the BBJ and the safety and security of U.S. operations. Moreover, I couldn't be more pleased with our partner NIC. They have over sixty offices in the region and 200 plus offices globally. NIC also maintains the quality and customer service consistent with our high standards."

Eddie Izumi, President for Machinery Company, NIC states, "We are very honored to offer new programs of the BBJ in Asia-Pacific region through ShareJet. The outstanding safety record, experience and level of customer service of ACIP in executive jet operations in conjunction with NIC's Asian office network, ShareJet is able to provide attractive, safe and secure services to its customers in the region to fly the BBJ, an ultimate business jet."

Manfred Schindler, Vice President Sales for Boeing Business Jets, said "We fully expect our current fleet of four BBJs in the Asia-Pacific region to grow dramatically over the next several years. The partnership sales and block charter concept is a perfect compliment to direct sales when the principal cannot justify 100-percent ownership of a BBJ, but still wants to enjoy the comfort the BBJ provides."

ShareJet is the kind of rapid growth opportunity that ACIP and NIC search for inclusion in their aviation business services. ACIP always looks to align with leaders in the aviation industry so they can extend their offerings while maintaining their exemplary service. NIC applies this concept in a similar manner. NIC's medium term management plan identifies strategic alliances in the following manner: "In order to further strengthen our business portfolio, we have been focusing on forming alliances with strategic partners, and aim for the number one position in the industry through strong alliances." 

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