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Pet Airways Appoints Andrew Warner as President and Chief Financial Officer


DELRAY BEACH, Fla., Jan. 4, 2011 — Pet Airways Inc. (PAWS.PK), the world’s first airline designed specifically for the comfortable, efficient and safe transportation of pets, today announced that Andrew Warner has been named President and Chief Financial Officer. Mr. Warner also serves as a member of the Pet Airways board of directors.

Mr. Warner has more than 25 years of experience in financial and general management, with leadership positions in both public and private companies. He specializes in nurturing rapid growth in young consumer-oriented companies, particularly with respect to consumer technology.

Prior to joining Pet Airways, Mr. Warner served as Chief Financial Officer of EnergyConnect Group, Inc., a leading provider of smart grid demand response services and technologies. Prior to that, Mr. Warner was the Chief Financial Officer of SmartDisk Corporation, which provided electronic storage solutions and was subsequently acquired by Verbatim. Mr. Warner was also the Chief Executive Officer of Zio Corporation, a private, digital consumer electronics company that was acquired by SmartDisk Corporation. Prior to Zio Corporation, Mr. Warner served as Chief Financial Officer, President of the U.S. Division and Executive Vice President of SCM Microsystems Inc., a global provider of digital security and identity management technology.

“We are delighted that Andrew has agreed to join the Pet Airways team. With his strong financial and business experience, we believe that he will be instrumental in helping Pet Airways become a household name and solidify our leadership position in pet transportation,” said Dan Wiesel, Chairman and Chief Executive Officer of Pet Airways. “In particular, his experience growing successful companies, managing transactions and raising capital will be invaluable to us.”

Andrew Warner commented, “Pet Airways is an exciting company that has the potential to fundamentally change the travel category. Pets are a very important part of the family, and by providing a safe and caring alternative to cargo, Pet Airways can transform the concept of family travel. I am thrilled to join the Pet Airways executive team, to work with Dan to broaden Pet Airways’ services and expand the company’s infrastructure.”

Since Pet Airways’ launch in July 2009, flight capacity has nearly doubled with expansion from the original five destinations to the current nine. Revenue for the first nine months of 2010 more than tripled over the prior year, with over 3,000 pets flown through September 2010. The company continues to enjoy significant national and regional press coverage and recently announced a partnership with Petmate®, the leading provider of portable carriers.

About Pet Airways, Inc.
Pet Airways is the first airline specifically designed for the safe and comfortable transportation of pets. Pet Airways’ pawsengers™ travel in the specially equipped main cabin of its planes – where pets are continuously monitored by an In-Flight Pet Attendant and the climate is controlled for maximum pet comfort. With Pet Airways, pet parents can be assured their animals will be treated with tender, loving care throughout the journey. The airline launched flight operations in 2009 and currently serves coast-to-coast destinations across the United States, including Los Angeles, Phoenix, Denver, Omaha, Chicago, Baltimore, New York, Atlanta and Ft. Lauderdale. For more information go to www.petairways.com.

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    Boeing Celebrates Final Assembly of 1,000th 767

    EVERETT, Wash., Jan. 10, 2011 — Final assembly started today on the 1,000th Boeing (NYSE: BA) 767 airplane. Workers marked the milestone with a celebration at the Everett, Wash. factory.

    “This milestone is a credit to every employee who had a hand in building 767s over the past 30 years,” said Kim Pastega, vice president and general manager of the 767 program, Boeing Commercial Airplanes. “It is a testament to engineering a high-quality product that continues to improve through the years.”

    Final assembly is the last step of the production process before the airplane rolls out of the factory on its way to the paint hangar and the Everett Delivery Center for ground and flight tests. The 1,000th airplane – a 767-300ER (extended range) passenger model for ANA (All Nippon Airways) – is the last 767 to complete final assembly in its current home. Beginning with line number 1001 – also a 767-300ER for ANA – all future 767s will complete that step in a new, smaller bay where production is scheduled to increase in 2011.

    The 1,000th airplane is scheduled for delivery next month. ANA, a long-time Boeing customer, has taken delivery of 89 767s since placing its first order in 1979.

    Boeing will use the 767 as the platform for its NewGen Tanker if it wins the U.S. Air Force KC-X Tanker competition. That contract award currently is scheduled for early this year.

    The 767 family is a family of clean, quiet, fuel-efficient airplanes that provide maximum market versatility in the 200- to 300-seat market. The 767 family includes three passenger models — the 767-200ER, 767-300ER and 767-400ER — and a medium-widebody freighter, which is based on the 767-300ER fuselage.

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    Previously announced increase to 35 per month to be extended to 38 per month in second quarter 2013

    SEATTLE, Sept. 16 — Boeing announced today its production rate for the Next-Generation 737 program will increase to 38 airplanes per month in the second quarter of 2013. This decision comes just months after announcing a rate increase on the company’s best-selling commercial jetliner from 31.5 to 35 airplanes per month in early 2012.

    "Increasing production is in response to customer demand for this airplane," said Boeing Commercial Airplanes President and CEO Jim Albaugh. "Airlines want this innovative airplane sooner to renew their fleets to serve their customers. We made this decision after careful evaluation by Boeing and our supplier partners."

    Key factors to the rate decision include the company’s current backlog of more than 2,000 Next-Generation 737s, current options that customers are expected to exercise and ongoing sales campaigns. The rate increase is not expected to have a material impact on 2010 financial results.

    Next-Generation 737 customers have benefited from continuous innovation of the airplane since its introduction in 1997. The first five airlines will receive the new 737 Boeing Sky Interior by the end of this year. Customers will gain from a two percent reduction in the airplane’s fuel consumption by early 2012, through a combination of airframe and engine improvements.

    The 2010 Current Market Outlook, Boeing’s long-term forecast of air traffic volumes and commercial airplane demand, projects a market of over 21,000 single-aisle airplanes over the next 20 years, accounting for an anticipated 69 percent of the airplanes delivered and an estimated 47 percent of the $3.6 trillion total market value.

    Forward-Looking Statements

    Certain statements in this report may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "plans," "projects," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements. Forward-looking statements are based upon assumptions about future events that may not prove to be accurate. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak to events only as of the date they are made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws. Specific factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, statements we make regarding our guidance relating to future financial and operating performance, the effect of economic conditions in the United States and globally, and general industry conditions as they may impact us or our customers, as well as the other important factors disclosed previously and from time to time in our other filings with the Securities and Exchange Commission.

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    Updated Boeing Statement on 787 Dreamliner ZA002 Incident

    EVERETT, Wash., Nov. 11, 2010 Boeing continues to investigate Monday’s incident on ZA002. We have determined that a failure in the P100 panel led to a fire involving an insulation blanket. The insulation self-extinguished once the fault in the P100 panel cleared. The P100 panel on ZA002 has been removed and a replacement unit is being shipped to Laredo. The insulation material near the unit also has been removed.

    Damage to the ZA002 P100 panel is significant. Initial inspections, however, do not show extensive damage to the surrounding structure or other systems. We have not completed our inspections of that area of the airplane.

    The P100 panel is one of several power panels in the aft electronics bay. It receives power from the left engine and distributes it to an array of systems. In the event of a failure of the P100 panel, backup power sources – including power from the right engine, the Ram Air Turbine, the auxiliary power unit or the battery – are designed to automatically engage to ensure that those systems needed for continued safe operation of the airplane are powered.

    The backup systems engaged during the incident and the crew retained positive control of the airplane at all times and had the information it needed to perform a safe landing.

    Molten metal has been observed near the P100 panel, which is not unexpected in the presence of high heat. The presence of this material does not reveal anything meaningful to the investigation.

    Inspection of the surrounding area will take several days and is ongoing. It is too early to determine if there is significant damage to any structure or adjacent systems.

    As part of our investigation, we will conduct a detailed inspection of the panel and insulation material to determine if they enhance our understanding of the incident.

    We continue to evaluate data to understand this incident. At the same time, we are working through a repair plan. In addition, we are determining the appropriate steps required to return the rest of the flight test fleet to flying status.

    Boeing will continue to provide updates as new understanding is gained.

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    LUNAR AND PLANETARY CONFERENCE HIGHLIGHTS SOLAR SYSTEM EVOLUTION

    HOUSTON — NASA researchers and other scientists will present findings that provide new insights into the evolution of the solar system during the 42nd annual Lunar and Planetary Science Conference.

    The conference will run March 7-11 at the Woodlands Waterway Marriott Hotel and Convention Center, 1601 Lake Robbins Drive, The Woodlands, Texas.

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    http://www.lpi.usra.edu/meetings/lpsc2011/

    The conference is hosted by the Lunar and Planetary Institute in . The institute is managed by the Universities Space Research Association, a national, nonprofit consortium of universities chartered in 1969 by the National Academy of Sciences at NASA’s request.

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    Press Release: Boeing Assembles First 747-8 Intercontinental Forward Fuselage

    EVERETT, Wash., Sept. 14 — Boeing achieved another significant milestone for the first 747-8 Intercontinental Sunday night with the assembly of the airplane’s forward fuselage. The 89-foot, 2-inch (27.2 meters) fuselage section, featuring the airplane’s signature upper deck, was moved from the assembly tool for sealing and testing before beginning systems installation.
    The 747-8 features a stretched fuselage compared to that of the 747-400. It is 18 feet, 4 inches (5.6 meters) longer than its predecessor. Much of the stretch — 13 feet, 4 inches (4.1 meters) — is located in the forward fuselage. The remaining additional 5 feet (1.5 meters) are located aft of the wing. The 747-8’s stretched fuselage provides for 51 additional seats to accommodate 467 passengers in a typical three-class configuration and 26 percent more cargo volume.

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    FAA Penalty Against Circor Aerospace


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