SOURCE: Global Aircraft Solutions, Inc.

January 17, 2008 08:30 ET

Global Aircraft Solutions Announces Over $3,000,000 in New Maintenance Contracts

TUCSON, AZ--(Marketwire - January 17, 2008) - Global Aircraft Solutions, Inc. (OTCBB: GACF), an integrated aviation company engaged in aircraft trading, aircraft parts sales, and scheduled maintenance, repair and overhaul (MRO) services for commercial airlines, charter airlines and aviation leasing companies, today announced that its wholly owned subsidiary, Hamilton Aerospace Technologies, Inc., has signed over $3,000,000 in new maintenance contracts with one new, and one repeat maintenance customer.

The new customer, Afrijet Airlines is a privately owned airline based in Lagos, Nigeria licensed by the Nigerian Government to operate scheduled domestic passenger and international services. Hamilton Aerospace will paint, perform routine and non-routine heavy maintenance and other repair activities on two MD83 aircraft (S/N 49482 and S/N 49855) being inducted by Afrijet Airlines. Both aircraft have arrived at the Hamilton facility, and most, if not all, maintenance services provided Afrijet by Hamilton Aerospace under this contract should be completed by the end of the first quarter.

Hamilton Aerospace has also signed another contract to provide scheduled maintenance and other services for a 737-200 aircraft owned and operated by the Secretaria de la Defensa Nacional (SEDENA) of the Mexican Government. This aircraft has also already arrived at Hamilton Aerospace, and is scheduled to return to service on May 15, 2008.

David Querio, Chief Operating Officer of Hamilton Aerospace, commented, "We welcome the opportunity to provide aircraft maintenance services for Afrijet and look forward to building a good business relationship with that airline. We are also honored that the Government of Mexico has awarded Hamilton Aerospace another contract. The new contract with SEDENA must be credited to the entire Hamilton Aerospace staff and the quality of the work they provided to the Mexican Government on previous contracts."

Gordon Hamilton, Chief Executive Officer of Hamilton Aerospace and World Jet, Inc., added, "We are pleased to be able to start off the year with these significant contracts and look forward to announcing additional contracts as we fill up Hamilton Aerospace's 2008 order book. Also, while we are focused on increasing our third-party inventory and parts brokerage sales at our sister company, World Jet, growth in our in-house parts sales to Hamilton Aerospace resulting from these and other Hamilton Aerospace maintenance contracts should help World Jet to improve its top and bottom line performance in 2008."

About Global Aircraft Solutions

Global Aircraft Solutions provides parts support and maintenance, repair and overhaul (MRO) services for large passenger jet aircraft to scheduled and charter airlines and aviation leasing companies. Hamilton Aerospace and World Jet, both divisions of Global Aircraft Solutions, operate from facilities comprising about 25 acres located at Tucson International Airport. These facilities include hangars, workshops, warehouses, offices and other buildings. Notable customers include Avolar Airlines, Jetran International, Goodrich Corporation, AAR, the Mexican Government, Afrijet Airlines, Pegasus Aviation, Aloha Airlines, Alant Soyuz, United Breweries Holdings and Global Aircraft Leasing Partners.

Global's website is located at www.globalaircraftsolutions.com. The Hamilton Aerospace website is located at www.hamaerotech.com.

Safe Harbor

Except for the historical information presented, this press release contains "forward-looking statements" made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 or regulations thereunder including, but not limited to expected and estimated revenue and earnings. Forward-looking statements are made based upon management's expectations and belief concerning future developments and their potential effect upon the Company. There can be no assurance that future developments will be in accordance with management's expectations or that the effect of future developments on the Company will be those anticipated by management.

The words "believes," "expects," "intends," "plans," "anticipates," "hopes," "likely," "will," and similar expressions identify such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company or its subsidiaries or industry results, to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements. These risks include the economic health of the airline industry, demand for Global Aircraft Solutions' services, and competitive pricing pressures.

In addition, other risks are detailed in Global's Form 10-K for the year ended December 31, 2006, and Global's Form 10-Q for the quarter ended September 30, 2007. These statements speak only as of above dates, and Global disclaims any intent or obligation to update them.

Contact Information

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    Ian Herman
    (520) 275-6059
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