Aviation Capital Group Reports Second Quarter Activity.

NEWPORT BEACH, Calif. -- Aviation Capital Group (ACG), one of the world's Top Tier lessors, today reported its 2009 second quarter leasing, sales and financing activity.

The quarter was highlighted by two strategic initiatives. The first was a commitment by the U.S. Export-Import Bank (Ex-Im) to participate in a new financing structure valued at nearly $900 million for 22 Boeing 737NGs to be delivered over the next two years. The structure involves an Ex-Im guarantee for bonds issued by U.S. investment banks, providing a new source of liquidity to the aviation capital market that has not been seen since the global financial crisis began last September. ACG is the first lessor to use this structure, reflecting on the company's sound financial standing and operating business plan.

The second strategic initiative was the creation of a joint venture with Egyptian government agencies and companies to create CIAF-Leasing, serving the Middle East and North African (MENA) regions. Operations of this company are scheduled to begin in the fourth quarter. ACG serves as manager of CIAF, which will extend ACG's reach into the MENA regions.

Full details of the Ex-Im and CIAF initiatives may be found on ACG's Newsroom website at www.aviationcapital.com.

Operating activity during the second quarter involved transactions of 16 aircraft, all owned by ACG. These were:

                          <  <             <  <




Avianca                   <  <             <  <
767-300ER


Lease extension
China Eastern             <  <             <  <
A320-200


Lease extension
Norwegian Air Shuttle     <  <             <  <
737-300


Lease extension
Saga Airlines             <  <             <  <
737-800


Transition to new lease
Sunwing Airlines          <  <             <  <
737-800


New order delivery/lease
Taimyr Airlines           <  <             <  <
737-800


Transition to new lease
Thomas Cook               <  <             <  <
A320-200


Transition to new lease
Thomas Cook               <  <             <  <
A321-200


Transition to new lease
Tiger Airways (2 leases)  <  <             <  <
A320-200


Lease extension
Transavia France          <  <             <  <
737-800


New order delivery/lease
Webjet (3 leases)         <  <             <  <
737-300


Transition to new lease
                          <  <             <  <
MD-82


Sale
                          <  <             <  <
MD-82


Sale
                          <  <             <  <

Aviation Capital Group is the owner/lessor and portfolio manager of a diversified fleet of commercial jet aircraft leased to the world's leading airlines. Its portfolio includes more than 230 jets leased to more than 90 airlines in 40 countries. ACG's Capital Markets Group provides asset management and remarketing services to aircraft investors and institutional clients. ACG was founded in 1989 and is a wholly-owned subsidiary of Pacific LifeCorp, the parent company of Pacific Life Insurance Company.