Propulsion International Declares Independence With Special Fourth of July “Freedom Credit” Program

Colorado Springs, CO -- June 20, 2012 -- Propulsion International (PI), providers of low cost turbine engine maintenance plans and TPE331 turboprop engine Not-To-Exceed pricing, is offering a credit for the first 100 hours of operations -- up to $4000 per engine -- to customers who enroll in its Group Maintenance Plan (GMP) from July 4 through the end of the month.

Approved and backed by the engines’ manufacturer, GMP maintenance is performed at Honeywell authorized service centers worldwide, ensuring the highest quality and reliability. The program also provides the service centers with opportunities to develop and foster ongoing customer relationships, leveraging their unique capabilities and Propulsion International’s ability to guarantee lower costs. As an example, PI’s MX Cap Not-To-Exceed overhaul price of $193,000 for a TPE331-10 offers significant saving as compared to typical overhauls that run between $210,000 and $230,000. GMP enrollees benefit from lower costs of operation, level payments, and reduced risk, with covered maintenance performed at no additional cost.

“This ‘Freedom Credit’ goes a step beyond simply offering lower initial cost by also providing free future maintenance,” said Propulsion International Chief Executive Officer Chad Ahrens. “On top of the immediate saving from our MX Cap program, this July 4th special starts operators off with a credit towards their next maintenance event and includes free GMP maintenance for months to come.

“This special also demonstrates to TPE331 operators our commitment to reducing their maintenance cost and, more importantly, their risks, now and in the future. Since our GMP offers savings of up to 20 percent on maintenance for business as well as regional airline operators when compared to competitive sources, plugging in an additional $4000 for future GMP hours makes this limited-time offer is an exceptional value,” he added.

Propulsion International offers the added benefit of helping TPE331 operators meet their specific maintenance requirements by customizing their coverage. The PI Group Maintenance Plan includes scheduled and unscheduled service, Life Limited Parts, Airworthiness Directives and Service Bulletins, troubleshooting assistance labor, and routine parts including fuel nozzles, and Spectrometric Oil Analysis Program (SOAP) kits, as well as other coverage options.

Enrollment applies to each engine specifically, with plans designed for active or spare engines and an option to defer payments until the next maintenance event.

“Our commitment s to deliver overall economy, price certainty, and engine readiness -- and do
it at extremely competitive rates,” Ahrens stated. “As our customer base grows we will continue
to explore creative ways to provide additional services and savings, like this ‘Freedom Credit,’
that free clients of the worry and risk that are associated with self-managed maintenance.”

Propulsion International provides GMP programs on Honeywell’s TPE331-10, -11, -12, -14, and -10 conversions. With anytime enrollment, GMP is a full coverage maintenance solution, customized to meet the operator/owner requirements. It reduces the out-of-pocket costs for operators’ initial maintenance, conversion, or retrofit, is fully backed by Honeywell and the Authorized Service Center Network. It provides benefits similar to those of Honeywell’s Maintenance Service Plan (MSP) for its turbofan products, financing alternatives, and reduces downtime for maintenance with its engine exchange option, all at competitive prices. In addition, the Group Maintenance Plan incorporates a path for inspection interval extension for Part 91 operators, adding significantly to aircraft values. Programs are individually tailored to meet operator requirements and feature a unique "sunset" account where the unspent scheduled reserves are returned at contract termination or GMP can be transferred to the new owner at aircraft sale.