All Aircraft, Equipment Moving To Phoenix

Pan Am International Flight Academy (PAIFA) announced today that it is closing its Career Pilot Development (CPD) training campus located in Ft. Pierce, FL. All training equipment and aircraft will be relocated to the Academy's CPD campus based in Phoenix, AZ. The transition will be completed by mid-summer 2005.

The decision to close the campus was spurred primarily by the devastation caused by last year's hurricane season and the strong likelihood of future hurricanes. Destruction still abounds in the area and continues to create enormous hurdles that significantly hamper the Academy's ability to operate. With another (potentially) active hurricane season on the horizon, further disruption to customer training may be inevitable.

"We must be proactive in our efforts to provide our customers with a training environment that will allow them to complete their training process expeditiously. Our mission is to provide students with a training experience that enables them to secure employment at a faster rate, with a higher degree of assurance, and in a flexible fashion that meets their specific needs.  The very real threat of hurricanes in Florida does not allow us to achieve our mission with the certainty we desire. Hence we made the decision to transfer all of the Ft. Pierce CPD operations to Phoenix," said Wally David, President and Chief Executive Officer.

Marilyn Ladner, Senior Vice President, Career Pilot Development, adds, "Last summer, we temporarily moved some of our training to Phoenix in the wake of the devastation caused by the hurricane season. We did so successfully, but to make that same move again would create unacceptable training delays, burdens and inconveniences for our customers."

She continues, "Our airline customers rely upon us to ensure they meet their training requirements on time and within their budgets.  Therefore, we cannot allow the current conditions of our campus and the surrounding area plus the threat of another storm season to erode the high caliber of training we have promised. We are committed to providing our customers professional, high-quality training in an environment that's safe and free from hurried evacuations and unnecessary interruptions. Moving our operation to Phoenix will enable us to fulfill that commitment. We greatly appreciate the support we've received from the airport management throughout the rebuilding process, but we feel strongly that making this move is in the best interest of the Academy and of our customers." Ladner goes on to explain that while a loss of jobs is inevitable, there will be opportunities for many employees to relocate to Phoenix.

In September 1999, PAIFA expanded its portfolio of services to include Career Pilot Development training. It did so with two significant acquisitions - Westwind Aviation Academy in Phoenix, AZ and Air Safety International in Vero Beach, FL. Aggressive growth of the division continued over the years. In 2003, PAIFA purchased Beaver Aviation Services, and in 2004, the Academy acquired the training assets of Sierra Aviation Academy located in Livermore, CA.  Today, Pan Am International Flight Academy is recognized as a premiere training provider to the world's airlines. It utilizes one of the industry's largest fleets of New Piper training aircraft, including the Archer, Arrow, and Seminole, as well as a number of Level 5 Flight Training Devices (FTDs), including the Canadair Regional Jet (CRJ) and Frasca TruFlite.

Pan Am International Flight Academy is a privately-owned, comprehensive learning institution that, in addition to its CPD division, provides advanced aviation training services to professional pilots, flight engineers, flight attendants and maintenance personnel operating in commercial, regional, business, military, government and cargo operations around the world. The Academy also offers a comprehensive, FAA-approved Career Pilot training program. Pan Am International Flight Academy is the only flight-training center that provides extensive Air Traffic Control (ATC) training to Civil Aviation Agencies worldwide.

The Academy operates training facilities in Miami, Orlando and Vero Beach, FL; Cincinnati, OH; Memphis, TN; Dulles, VA; St. Louis, MO; Minneapolis, MN; Phoenix and Scottsdale, AZ; and Beaver Falls, PA.

Its Commercial and Regional airline simulator "fleet" includes B767, B757, B747-200, B747-400, B737-200/300/400/500, B727-200, B707, DC8-70, DC9-30/50, DC10, A300, A320, A330, MD80, 328JET, Caravan, Saab 340, CRJ 200, J31/32, J41, AVRO RJ and BAe146.

FMI: www.panamacademy.com