Share Name Share Symbol Market Type Share ISIN Share Description
Portland Gas LSE:PTG London Ordinary Share GB00B28YMP66
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 90.00 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 0.0 -1.3 -1.8 - 66

New contract

26/02/2004 3:15pm

UK Regulatory (RNS & others)

RNS Number:8800V
Planestation Group PLC
26 February 2004


26 February 2004

PlaneStation Group Plc


PlaneStation Group plc the airport owner and operator announces that, through
its subsidiary, it has today signed a conditional agreement with Irish airline
company EUjet with the intent of Kent International Airport Manston becoming
EUjet's hub in the United Kingdom.

EUjetwas formed as a collaborative venture between its shareholders and debis
AirFinance (part of the Daimler Chrysler group) one of the world's largest
owners of aircraft.  debis AirFinance supplies EUjet with aircraft and
administrative services. EUjetcommenced operations in May 2003 and is
headquartered in Shannon, and is a fully licensed and approved Irish airline.
EUjet currently provides fully supported jet aircraft to airlines and tour
companies, as well as operating charter flights for Europe's premier tour
operators out of Dublin, Birmingham, Bergamo and Milan. EUjet also operates
aircraft on behalf of Air France.

EUjet are currently negotiating arrangements with other airports intended to
form part of the EUjet route structure.  It is envisaged that there will be
flights to and from a number of airports in Ireland, the UK and European
destinations. It is anticipated that by the end of this year 29 routes will be
served from Kent International Airport. EUjet has appointed Rothschild as
financial advisor and are in the process of raising additional capital to allow
the company to expand over the next three years. It is expected that the route
selection process will be complete by 14th April 2004 and that the first flight
will take place on 14th June 2004.

EUjet anticipates that its decision to create a new regional airline service
will result in an estimated 300,000 passengers using Kent International Airport
Manston during the first year of operation, growing to some 2 million passengers
by the end of the third year of the operation.

Arrangements are being made to expand the existing passenger terminal facilities
at Kent International Airport Manston to support not only EUjet's operation and
its planned growth but also to support expanding operations.

EUjet is headed by PJ McGoldrick who has over 30 years experience in the airline
industry and was formerly Chief Executive of Ryanair when the company turned its
first profit.

Comment from Oliver Iny (CEO of PlaneStation Group plc):

"We have agreed terms with EUjet which are very satisfactory for both companies.
This deal will be earnings enhancing for the PlaneStation Group and is the first
of several airlines we expect will be flying from this airport."

Comment from P.J McGoldrick (CEO of EUjet):

"During my time at Ryanair I identified the potential and negotiated the
arrangement which resulted in Ryanair making Stansted Airport its UK hub. I
foresee a similar opportunity at Kent International Airport Manston and I am
confident that the agreement signed today will be the basis on which a bright
future will be built for both Kent International Airport Manston and EUjet."

Further Enquiries:

Isabel Crossley            St Brides Media              020 7242 4477

P. J McGoldrick            EUjet                        +353 61 723790

                      This information is provided by RNS
            The company news service from the London Stock Exchange


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