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FOR IMMEDIATE RELEASE

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Operating lease revenue was lower for the quarter and the nine-month period ended September 30, 2010 compared to the same periods in 2009 by approximately $1.6 million and $2.0 million, respectively.  This was due primarily to a greater number of aircraft that were off lease for all or part of the 2010 periods and certain assets that were re-leased at lower rates than in the 2009 periods. In the 2010 periods, the Company also recorded a reduction in operating lease revenue due to uncertainty about the collectibility of the related receivables.

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Maintenance reserves revenue was approximately the same in the quarter ended September 30, 2010 compared to the same period in 2009.  Maintenance reserves revenue increased by approximately $1.6 million in the nine months ended September 30, 2010, compared to the same period in 2009.  Although the Company recorded less maintenance reserves revenue because of lower average usage by some lessees in the 2010 periods and a reduction in maintenance reserves revenue due to uncertainty about the collectibility of the related receivables, the effect of these decreases was more than offset by revenue related to maintenance reserves retained by the Company in connection with two aircraft returned in early 2010.  The Company has used these funds for maintenance required by the lease return conditions.

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Maintenance expense decreased by approximately $0.4 million in the quarter ended September 30, 2010, compared to the same period in 2009, and increased by approximately $1.8 million in the nine months ended September 30, 2010, compared to the same period in 2009. The 2010 periods included maintenance required by the lease return conditions for two aircraft returned in early 2010, for which the Company previously collected reserves.  At the time maintenance was performed, the amount of reserves applied to the cost was recorded as both maintenance reserves revenue and expense and as a result, such maintenance had no effect on the Company's net income. Maintenance expense in the 2010 periods also reflected a decrease in maintenance performed by lessees using non-refundable reserves and lower expense for off-lease aircraft.

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Interest expense decreased by approximately $0.2 million and $0.8 million in the quarter and nine months ended September 30, 2010, respectively, compared to the same periods in 2009, primarily because the Company’s subordinated debt had a lower average principal balance during the 2010 periods. The effect of this decrease was partially offset by an increase in the applicable LIBOR rate from year to year.  In addition, the margin rate and fee amortization applicable to the Company’s new $90 million senior debt credit facility, which replaced the Company’s previous credit facility during the second quarter of 2010, were higher than under the previous credit facility.

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2010				2009				2010				2009
Revenues and other income:
Operating lease revenue		$	5,271			$	6,852			$	17,739			$	19,763
Maintenance reserves revenue			1,568				1,597				6,270				4,708
Other income			88				224				813				488
			6,927				8,673				24,822				24,959
Expenses:
Maintenance costs			2,256				2,702				7,758				5,917
Depreciation			1,858				1,912				5,516				5,728
Interest			1,109				1,276				3,306				4,067
Management fees			904				918				2,754				2,758
Professional fees and other			441				113				1,435				773
			6,568				6,921				20,769				19,243
Income before income tax provision			359				1,752				4,053				5,716
Income tax provision			118				606				1,389				1,964
Net income		$	241			$	1,146			$	2,664			$	3,752
Earnings per share:
Basic		$	0.16			$	0.74			$	1.73			$	2.43
Diluted		$	0.15			$	0.73			$	1.68			$	2.42
Weighted average shares used in earnings per share computations:
Basic			1,543,257				1,543,257				1,543,257				1,543,257
Diluted			1,582,477				1,567,073				1,585,367				1,547,647

Summary Balance Sheet:		September 30, 2010				December 31, 2009				September 30, 2009
		(Unaudited)				(Audited)				(Unaudited)
Total assets		$	125,812			$	132,179			$	131,117
Total liabilities		$	82,655			$	91,687			$	92,530
Shareholders’ equity		$	43,157			$	40,492			$	38,587