| Press Release

Skytanking Announces the Purchase of a Controlling Stake in Belgian Fuelling & Services Company

Skytanking today announced that it has purchased a controlling stake in Belgian Fuelling & Services Company (BFSC). The shares were purchased from the Trustees of Sabena in bankruptcy by Skytanking’s Belgian subsidiary, Merlin Fuel NV, which currently provides aviation fuelling services at Ostend-Brugge International Airport.

BFSC, with 38 employees, handles half of the into-plane fuelling at Brussels International Airport and has an extensive portfolio of contracts to provide engineering, operations and management services for fuel companies at other European airports, including Athens, Luxembourg and Liège.

"This is an exciting day. The addition of BFSC to the Skytanking network of independent fuelling companies is an important step in securing our objective of offering safe, high quality and cost-effective fuelling services to airlines and oil companies throughout Europe, the USA and beyond", stated Paul Workman, Skytanking’s Vice President, Business Development. "It also gives us access to BFSC’s well-regarded management and engineering team for other projects in Europe".

Apart from Ostend, Skytanking also operates the fuel storage and hydrant at Munich Airport and has fuelling operations in the United States at the airports of Philadelphia, Miami, Chicago Midway, Orlando and Atlanta. Skytanking specialises in funding, building and operating all parts of the on-airport fuel supply chain including fuel storage facilities, hydrant systems and into-plane fuelling.