United Services - News & Media : Press Releases

News & Media : Press Releases

United Services Sells Second Boeing 747-422 and Maintenance Agreements to Dubai Air Wing

CHICAGO, IL - SEPTEMBER 15, 2003 - United Services, the airline support business within United (OTC BB: UALAQ.OB), has completed the sale of a Boeing 747-422 aircraft to Dubai Air Wing through Reef Aviation Group, agent for the government of Dubai, United Arab Emirates.

This is the second B747-422 that Reef Aviation Group has purchased for Dubai Air Wing, Government of Dubai. The first aircraft was delivered in May 2003, while the second aircraft was delivered September 9, 2003.

The aircraft sale includes training for six pilots and nine maintenance technicians, as well as engine maintenance, component maintenance, and engineering support. Reef Aviation Group also purchased spare engines as part of the agreement, creating additional revenue for United.

Negotiations for the aircraft sale began with the sale of the first aircraft. "Reef Aviation Group originally approached us on behalf of Dubai Air Wing with interest in buying two B747-400s," says Marty Lawrence, manager - Aircraft and Engine Sales, United Services. "Approval for the purchase of the second aircraft wasn't received until July, but once we had that, we were able to finalize an agreement quickly. Dubai Air Wing and Reef Aviation Group know they can buy from us with confidence." United has long been a provider of pilot training for Dubai Air Wing's B747SP and B747-200 freighter crews, Lawrence points out.

In addition to the aircraft sale, United Services and Reef Aviation Group agreed to a separate contract providing for MRO services for the B747-422 engines over the next three years. According to Loy Montes, director - Maintenance Services, United Services, that agreement will generate additional revenue for United, which comes at an important time in United's rapidly evolving transformation into a market-driven MRO provider, creating jobs and growth for the carrier. "Dubai Air Wing and Reef Aviation Group were delighted with the expediency and attention to detail of the first B747-422 sale. We were able to build on this positive experience and provide added value for our customer," says Montes.

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