Greenwich AeroGroup Greenwich, Connecticut, May 20, 2009 — Greenwich AeroGroup, Inc. today
announced that it has entered into a definitive agreement to acquire the assets of Banner Aerospace
Holding Company I, Inc. and its aviation subsidiaries from its parent, The Fairchild Corporation. The
Fairchild Corporation and its aerospace subsidiaries are debtors under chapter 11 of the U.S. Bankruptcy
Code. Greenwich AeroGroup prevailed in a four-party auction conducted under the supervision of and
procedures set forth and approved by the United States Bankruptcy Court for the District of Delaware.
The court approved the definitive sale agreement on May 19, 2009.
“We are very excited to have the opportunity to acquire a marquis name in the aviation industry and a
team of proven aviation professionals,” stated Gerry Goguen, Executive Vice President of Greenwich
AeroGroup. “We look forward to working with the Banner Aerospace management team to continue the
growth and development of the businesses. This acquisition enables Greenwich AeroGroup to expand our
portfolio of services, while enhancing our supplier relationships.”
Banner Aerospace is a diversified family of companies serving loyal customers worldwide, including
OEMs, commercial and regional airlines, air cargo carriers, corporate and general aviation, and FBOs.
Banner Aerospace’s products and services are divided into two groups: Distribution and Repair &
Overhaul, and are conducted through six operating companies.
