Kestrel Aviation Becomes Reality

Oshkosh, Wisc. (July 24, 2010) Mr. Anthony Galley announced Friday the creation of a new airplane company, Kestrel Aircraft, to complete the certification and produce a new, class-defining single-engine turboprop airplane. Kestrel Aircraft will be helmed by Alan Klapmeier as CEO and Chairman, and is joined by other seasoned professionals with broad aviation and business experience. Kestrel Aircraft will base its operation at Brunswick Landing, Maine.

Mr. Klapmeier commented, “After significant market research and due diligence, my team and I have decided to join the Kestrel turboprop team. We will see the project through FAA and EASA certification, and manufacture the aircraft in Maine.” Klapmeier said, “I would like to thank Anthony Galley, Adrian Norris, and their team for their work in getting project to this point, and look forward to continuing to work with them to bring the aircraft to market.”

Kestrel Vice Chairman Edward Underwood, former executive director of Arcapita, an Atlanta, GA-based equity firm, is excited about continuing to bring new technologies to the market place. “When we started reviewing various projects, there were a number of very interesting opportunities that presented themselves.” Underwood stated, “The commitment of the people of the State of Maine and the Midcoast Regional Redevelopment Authority helped make this particular project compelling. The leverage brought by the economic development components will be a strong help in completing the financing.”

The Kestrel turboprop will carry more while flying further and faster, into and out of shorter runways. These benefits come from advanced aerodynamics and composite construction. Its operational flexibility will be unmatched.

The Kestrel will also set a new standard in cabin volume and comfort in a six / eight seat aircraft. A range of flexible cabin configurations will be available, including an optional private lavatory. Indeed, the new Kestrel will bridge the traditional gap between turboprops and substantially more expensive business jets.

Klapmeier calls the Kestrel, “an elegant solution for personal and business transportation that will redefine its class, while being economical and easy to operate.”