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ACI Aviation Consulting Brokers Quick Sale of Saab 340B for Key Bank Following Chicago Express Bankruptcy

Monday, April 18, 2005

ACI Aviation Consulting (ACI) remarketed two SAAB 340B turboprop aircraft for Key Bank on an expedited 60-day schedule. In a difficult resale environment, ACI was able to negotiate and sell the two aircraft to Colgan Airways which is launching regional operations at Houston Intercontinental Airport. The sale price for the aircraft which emerged from the Chicago Express bankruptcy reorganization was not disclosed.

An innovative sales package was created by ACI so that Key Bank could quickly begin to recover financially on the idle aircraft.
In another development, Key Bank has exclusively retained, ACI to act as its exclusive sales agent on one Rolls-Royce RB 211-535E4 engine. The engine had been operated by ATA prior to being returned under its bankruptcy reorganization.