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VEM Signs Maintenance Contract for 4 A310 Airplanes for Air Transat

(Rio de Janeiro, September 15, 2008) -- VEM Maintenance & Engineering's businesses in North America continue to grow. The company, which is already a leader in Latin America in aviation maintenance and provides services to several operators in the United States, is now entering the Canadian market. Last September 4, a contract was signed with Canada's Air Transat for performing maintenance on four A310 airplanes.

The contract was signed at VEM's facilities, in Rio de Janeiro. Air Transat was represented by John Dacoulis, Senior Director of Technical Operations, and Douglas Waugh, Manager of Planning. Also participating were Jorge Sobral, Member of TAP's Board and Chairman of VEM's Board, and Henrique Guimaraes, TAP's Customer Services. VEM was represented by Filipe Almeida, CEO, Nestor Koch, Vice-President of Marketing & Sales, and Evandro Andrade, Regional Sales Manager.

The services will be performed in the company's hangar, in Rio de Janeiro, and the first aircraft (C-GTSX), which will go through a C Check, already has an expected date for arriving at VEM: this coming September 24. The three following aircraft will arrive two in October and the last one in November.

The turnaround time (TAT) of the airplanes is also a big challenge. With VEM's know-how, which is recognized worldwide by the aviation market, and after more than 80 years of experience in performing maintenance on commercial airplanes, the company is able to commit to delivery times between 23 to 40 days (depending on the specific services for each aircraft). In order to ensure this performance, VEM will dedicate a work group exclusively to this project, which will work in three shifts, including weekends.

With this project, VEM will have two maintenance lines occupied until November, but there is a promising possibility of future business from this new client. Air Transat could send another six aircraft of the same model, starting the beginning of 2009. "We are confident in the success of this project, which will be very good for both sides. You have a very good team and hopefully we will do some more business in the future," stated John Dacoulis, from Air Transat, during the signing ceremony. In response, VEM's Chairman of the Board, Jorge Sobral, assured them that they will receive the same careful attention from VEM, that they already receive from TAP, in Lisbon: "You can be sure that the services will be of the same quality as those performed at TAP. Since we already know your requirements, we will constantly follow up everything at VEM, assisting them, if necessary, so that you will be fully satisfied."

Source : VEM Maintenance and Engineering

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