‘FULL SPEED AHEAD’ FOR REVOLUTIONARY VISION SF50 JET PROGRAM (with Video)

New Investment Spurs Hiring and Development Ramp Up To Complete the Innovative Single-Engine Personal Jet 

DULUTH, Minn., (April 18, 2012) – Cirrus Aircraft announced today that its Cirrus Vision SF50 personal jet program, with major investment by its new owner CAIGA, is fully funded through certification and initial production. The company anticipates first customer delivery will take place in 2015.

The Cirrus Vision creates a new category in personal aviation – it is the first aircraft of its kind to fill the gap between high performance pistons and traditional turboprop twins and light business jets. The Vision will offer the same class-leading innovation, technology and style hallmarks that Cirrus is known for in its best-selling SR20, SR22 and SR22T family of single engine piston aircraft. Seating up to five adults and two children in an expansive cabin that sets a new standard in luxury and flexibility for pilots and passengers, the Vision is designed for performance, affordability and safety.

“Today is simply a tremendous milestone for Cirrus,” said Dale Klapmeier, CEO and Co-founder of Cirrus Aircraft. “We revolutionized general aviation with the introduction of the SR20 just over a decade ago. With more than 5,100 SR-series aircraft delivered to date, pilots, entrepreneurs, families and aviators of all kinds have embraced our dream. Today, that dream is renewed as we are on the cusp of an even bigger leap with the Cirrus Vision. Cirrus customers, employees and partners around the world are rightfully proud of this moment.”

Klapmeier added, “We have come so far in just a brief time with our new owners as they share our vision for the future of aviation and personal transportation. They have set the highest expectations for the Cirrus team. But more importantly, they are actively partnering with Cirrus while providing substantial resources for us to meet and exceed our shared goals as we build an entire family of Cirrus aircraft.”

The first flight of the Vision concept aircraft was in 2008. Detail design, systems verification and full flight envelope testing have been ongoing since that time. Today’s investment, however, significantly increases the pace and momentum of the program and allows the company to bring the jet to the market. In an effort to ramp up to certification and production, Cirrus Aircraft will accelerate hiring of engineers, designers and other related technical disciplines critical to the completion of the program.

The Cirrus Vision development team, working with global design and vendor partners, is based at Cirrus Aircraft company headquarters in Duluth, Minn., and Vision jets will be assembled right alongside the SR20, SR22 and SR22T in the same Minnesota and North Dakota Cirrus Aircraft production facilities. Garmin (avionics and flight deck), Williams International (turbofan engine) and Triumph Group (trailing link landing gear) are just three of the strongest brands in aerospace that are members of the Vision supplier team.

Through June 30, 2012, the list price for a well-equipped Cirrus Vision SF50 is $1.72 million with list price moving to $1.96 million effective July 1, 2012.

About Cirrus Aircraft

Cirrus Aircraft is a recognized leader in general aviation. Its all-composite line of personal aircraft – the SR20, SR22 and the turbocharged SR22T – incorporate innovative and advanced performance, electronic and safety technologies, including Cirrus Perspective™ by Garmin® avionics and the unique Cirrus Airframe Parachute System™ (CAPS). As of early 2012, total time on the worldwide Cirrus Aircraft SR-series fleet surpassed five and a half million flight hours with 53 lives saved to date as a direct result of CAPS being a standard safety feature on all Cirrus aircraft. The Cirrus Vision SF50 jet, with over 500 production positions reserved, will provide a new personal and regional business transportation solution – the personal jet. All Cirrus aircraft are made in the USA with a direct sales force in North America and authorized sales centers covering export markets in 60 countries around the world. Cirrus Aircraft is wholly owned by China Aviation Industry General Aircraft Co., Ltd. (CAIGA). For additional information on Cirrus and its products please visit cirrusaircraft.com