Air Methods to purchase 15 IFR twin-engine aircraft, trades in 15 222's

Air Methods Corp. has announced the placement of a major order for fifteen Bell Model 427 IFR twin-engine helicopters as part of the company's long-term fleet expansion and modernization program.

The aircraft are scheduled for delivery beginning in late 2007. The agreement provides for a minimum delivery of three aircraft per year. As the launch customer, the agreement provides for special incentives, including a trade-in option for up to 15 Bell 222 twin-engine aircraft, with minimum guaranteed trade-in values. Air Methods currently operates 22 Bell 222 aircraft within its fleet.

The Bell Model 427 IFR aircraft is expected to receive FAA certification during the fourth quarter of 2006, with initial deliveries expected during the final quarter of 2007. The new configuration will be well-suited for emergency air medical transports, offering single-pilot instrument flight capability, wide sliding doors, and dual-patient capacity with both medical personnel positioned at each patient's head.

Aaron Todd, CEO of Air Methods Corp., said, "We are pleased to be designated as the launch customer for the Bell 427 IFR aircraft. Our purchase agreement ensures full recovery of residual values for a majority of our Bell 222 fleet, while providing for a cost efficient solution for their ultimate replacement over the next several years. We believe that the Bell 427 IFR aircraft will offer an attractive option for our current Bell 222 customers that require two patient, cabin class capability, while maintaining cost sensitivity."

FMI: www.airmethods.com, www.bellhelicopter.textron.com