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Intrepid Aviation Names Frank Pray Chief Executive Officer

Dépèche transmise le 16 juin 2011 par PRNewswire

GERMANTOWN, Tennessee, June 16, 2011 /PRNewswire/ --

Intrepid Aviation today announced that leasing industry veteran Frank Pray has joined the company as President and Chief Executive Officer. Pray reports to Ron Anderson, founder and Executive Chairman of Intrepid.

"Frank is one of the most experienced leaders in the aircraft leasing industry and joins us to implement an exciting new growth agenda for the business," said Ron Anderson. "With the largest Airbus A330 lessor order backlog as a basis, we are now looking forward to broadening our product offering to passenger airline customers by significantly expanding our platform. We are excited to be working with Frank given his long track record of building successful leasing platforms. Frank's focus will be on putting significant additional capital to work and broadening our presence in the aircraft leasing space."

Pray was formerly President and CEO of AWAS from 2006 to 2010. Prior to that, he was with CIT Aerospace for nine years as Senior Vice President of Sales, and Managing Director of CIT Aerospace International.

About Intrepid Aviation

Intrepid Aviation, now in its 19th year of operations, is a privately held commercial aircraft lessor that owns and manages commercial aircraft leased to airlines worldwide. The Intrepid Aviation management team, based out of offices in Memphis and New York, has substantial experience in the acquisition, ownership and leasing of commercial aircraft.

In 2006, Intrepid Aviation formed a partnership with Reservoir Capital Group, a privately held investment firm with a flexible, opportunistic investment approach. Reservoir's investment funds currently manage approximately $4.5 billion in assets.

For more information about Intrepid Aviation, go to http://www.intrepidaviation.com

CONTACT: Bob Brady, +1-202-777-2072, for Intrepid Aviation