Partner Jet Corp.
TSX VENTURE : PJT

Partner Jet Corp.

June 02, 2005 14:13 ET

Partner Jet Purchases Turbo Prop Jet

TORONTO, ONTARIO--(CCNMatthews - June 2, 2005) - Partner Jet Corp. (TSX VENTURE:PJT) is pleased to announce that it has purchased a Cessna Conquest Turbo Prop Jet. The purchase price of the aircraft was US$825,000 and was financed through a loan from GE Capital bearing interest at 5.45%. The loan matures on June 1, 2010 and can be prepaid at any time.

The purchase of the aircraft will allow Partner Jet to expand its current Executive Air Service and provide a more complete range of air travel packages to its clients. The Conquest will have the ability to operate into and out of Toronto Island Airport thus providing fast and efficient transportation to Toronto's downtown business core. The addition of a turbo-prop aircraft to Partner Jet's diverse fleet of managed jet equipment will allow service into smaller regional airports that cannot be utilized by larger jet equipment. The aircraft is ideally suited for commuter flights within a 500NM hub of Toronto providing transportation to the North-Eastern United States, including the Greater New York, Chicago and Washington D.C. areas; as well as Montreal, Ottawa, and Northern Ontario. Additionally the aircraft has the capability of non-stop flights from Toronto to Florida (and destinations within a 1000NM range). Operating at $1,350 an hour the aircraft allows Partner Jet to provide service to a wider group of clients at a lower average cost.

The Conquest will be serviced and maintained by Partner Jet Inc's subsidiary PJet Maintenance Ltd (a full service AMO - Aircraft Maintenance Organization) at the Lester B. Pearson International Airport.

Call today for charter quotations or to pre-book annual block flight time packages! The charter department can be reached at: 905-676-0092 x225 or toll free at: 877-PJETINC (877-753-8462) or by email: chartersales@partnerjet.com. For additional information please visit our website at: http://www.partnerjet.com

Shares Outstanding: 7,684,376

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Partner Jet Corp.
    Mr. Lee Heitman
    President
    (905) 676-0092