Nextant Aerospace Hires Aviation Sales Executive Sean McGeough as President

  Nextant Aerospace Hires Aviation Sales Executive Sean McGeough as President

  *McGeough to Lead Remanufacturer of Business Jets as It Enters Next Phase
    of Growth, Delivering Benefits of New Aircraft at Market-Leading Prices
  *In 2012, Nextant secured $100 million in sales and has a sales backlog
    valued at over $175 million
  *To meet increasing demand, Nextant has expanded its capacity with a new
    125,000 square foot remanufacturing facility in Cleveland

Business Wire

CLEVELAND -- January 15, 2013

Nextant Aerospace, maker of the Nextant 400XT, the world’s only remanufactured
business jet, today announced that it has hired senior aviation executive Sean
McGeough as president to help build on its strong growth. McGeough, who
previously led Hawker Beechcraft Corporation’s international operations in
Europe, the Middle East, Africa and Asia Pacific, will concentrate on
developing strategies that will allow Nextant to achieve even greater global
market penetration and sustained growth for the Nextant 400XT.

“During the past year, Nextant successfully transitioned from developing a
concept aircraft to becoming a world-class maker of business jets, and we
enter 2013 with industry-leading momentum in sales,” said Kenneth C. Ricci,
Nextant Aerospace’s Founder and Chief Executive Officer and Principal of
Directional Aviation Capital, which owns respected industry names such as
Nextant, Flight Options and Constant Aviation. “Sean McGeough has a proven
track record of growing sales both domestically and around the world, and his
years of working with leading original equipment manufacturers and extensive
international network will help to further cement Nextant’s footprint across
the globe.”

Since late 2011, Nextant has closed more than $100 million in sales and
delivered 25 Nextant 400XTs to buyers on four continents. The firm currently
has a sales backlog valued in excess of $175 million, and has responded to
increasing demand for its aircraft by expanding its capacity with a new
125,000-square footremanufacturing facility in Cleveland, Ohio.

The remanufacturing process for the Nextant 400XT results in a fundamentally
new aircraft at a price point closer to that of a pre-owned aircraft, creating
the preeminent value proposition for purchasers of light jets. In addition,
Nextant provides customers with the same new aircraft purchase experience they
would expect from any major aircraft manufacturer. Customers have control of
the interior completion of their 400XT, and are able to visit Nextant’s
state-of-the-art design center to collaborate on every detail. Nextant also
offers a two-year, full aircraft warranty on the 400XT that is assured to be
honored by its constantly expanding global product support network.

“The Nextant 400XT is one of the world’s most innovative and cost-effective
business jets and incorporates a complete new aircraft purchase experience
that is changing how buyers all over the globe think of aviation purchases,”
said McGeough. “I’m proud to join such a forward-looking organization, and
look forward to contributing to its extraordinary growth in the coming years.”

McGeough most recently served as President, Europe, the Middle East, Africa
and Asia Pacific for Hawker Beechcraft, overseeing all of the company’s sales
activities in the region. Previously, he served as the company’s Vice
President of International Sales, among several roles of increasing sales
responsibility he held since joining the company in 1999. Earlier, McGeough
held senior-level sales positions with Diamond Aircraft Industries.

McGeough holds a Master’s Degree in Business Administration from the Florida
Institute of Technology. He is a licensed air transport pilot and is rated on
aircraft including the Beechjet 400A/XP which provides the airframe for the
Nextant 400XT.

About Nextant Aerospace

Nextant Aerospace was founded in 2007 for the primary purpose of developing an
aircraft modernization program. The company is credited with being the first
to introduce the concept of aircraft remanufacturing to the business jet
market. The Nextant 400XT is a remanufactured Beechjet 400A/XP equipped with
the Williams FJ44-3AP engines and Rockwell Collins Pro Line 21™ integrated
avionics suite. The new aircraft also benefits from significant aerodynamic
enhancements including newly designed nacelles, pylons and an improved engine
mounting configuration. The 400XT is delivered as a new aircraft with a
two-year, full aircraft warranty. Nextant’s design and manufacturing facility
is located in Cleveland, Ohio, at the Cuyahoga County Airport. For more
information, please visit, like us on Facebook,
follow us on Twitter @nextantaero or join us on LinkedIn.


Nextant Aerospace
Jay Heublein, +1 216-261-9000
Vice President, Sales and Marketing
The Hubbell Group, Inc.
Nicholas Parmelee, +1 781-878-8882
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