AERGO & PEMCO Partner to Convert Aviation History

Dublin, Ireland / Tampa, Florida (October 16, 2012) — Two global leaders in the aviation industry, AERGO Capital (AERGO) and PEMCO World Air Services (PEMCO), have joined forces on a major program to provide fully converted cargo aircraft for markets around the world utilizing PEMCO’s market leading, Boeing-data based B737 products. AERGO’s capital structure, ability to source and finance aircraft, and asset management expertise coupled with PEMCO’s unequalled B737 offering (95+ B737-300/400s in service; over 1.9 million hours of safe reliable operations; Airworthiness Directive free for over a decade; 45 customers in 20+ countries) will uniquely position AERGO Capital’s newly announced wholly owned subsidiary AERGO Cargo Solutions Ltd.

The 20-aircraft B737-400 order program includes aircraft acquisition, passenger-to-freighter conversion, bridging maintenance and package financing through a single entity-AERGO Cargo Solutions Ltd. Arising from this dynamic partnership, PEMCO delivers it’s acclaimed B737 conversion program which provides the highest retained asset values, while AERGO completes the equation with decades of experience as the authority on aircraft acquisitions and leasing. This landmark collaboration is already in motion with the first four aircraft identified and scheduled for induction within the next three months, and opens new markets in South America, Eastern Europe and Northeast Asia to PEMCO’s market leading products.

“Aergo realizes that in this ever changing 737 Classics market the right strategic partner is paramount in adding value and strength in the marketplace and PEMCO has shown through it’s high end customer base it competes at the highest standard conversion after conversion” stated Aergo CEO, Fred Browne.

“This historic alliance between PEMCO and AERGO will enable our companies to provide comprehensive solutions to the global aviation industry,” stated PEMCO President, Kevin Casey. ”PEMCO is delighted to join forces with AERGO which is a world-renowned aircraft asset management company. Our combined abilities will deliver undoubtedly superior results and opens opportunities for our companies and our clients.”

Together, the companies will offer clients several variants of the 737-400 and 737-300 Freighter, Combi and Quick Change (QC).

Through this new relationship, PEMCO and AERGO are able to reach all global markets between them bringing a new commercial power and vast economic attractiveness to the cargo conversion industry.