USA3000 Airlines Becomes New SES Customer

July 23, 2002

FARNBOROUGH, United Kingdom July 23, 2002 USA3000 Airlines has signed a 10-year agreement with Shannon Engine Support (SES) to provide guaranteed CFM56-5B spare engine support for the airline's fleet of Airbus A320 aircraft. SES is a wholly-owned subsidiary of CFM International (CFM). CFM is a 50/50 joint company between Snecma Moteurs (Safran Group) of France and General Electric of the United States and produces the world's best-selling commercial engine product line, the CFM56 family.

USA3000, the flag-carrier of Apple Vacations, began operation in late 2001 from Philadelphia, Newark and Chicago O'Hare to destinations in the Caribbean and Mexico. The airline currently operates three leased A320s and will take delivery of two additional aircraft by year-end. USA3000 also has an agreement to lease two additional A320s.

Under the terms of this agreement, SES will provide spare CFM56-5B engines to USA3000 within 24 hours of notification at a specified daily rate. The advantages of this agreement are substantial. The airline saves the expense of purchasing a spare engine while protecting itself against an AOG (aircraft on the ground) situation and unscheduled removals. In addition, USA3000 is not locked into a long-term lease; it can use the spare engine for a day, a week, a month, or for as long as the engine is required.

SES specializes in flexible, cost-effective engine leasing solutions tailored to airlines' specific requirements. Spare engine leasing provides tremendous cost savings to airlines. They avoid the acquisition cost of a spare engine as well of the expense of underused assets. SES also offers short-term engine leases, operating leases, sale/lease back, and engine trading.

SES has a portfolio of 130 CFM56 engines, including the CFM56-3 engine for the Boeing 737-300/-400/-500, the CFM56-5A and CFM56-5B for the Airbus Industrie A320 family, the CFM56-5C for the Airbus A340, and the CFM56-7 for the 737-600/700/-800/-900. The company supports 40 customers worldwide, predominantly in Europe and China.

Jamie Jewell

+1 513.885.2282

Charles Soret

+33 (0)

Perry Bradley

+1 513 375 2597

Talal Ahmed Almahmood

+973 173 3819