Southern Air Names Daniel J. McHugh as Chief Executive Officer

Founder and CEO Jim Neff to Retire at Year-End, Continue on Board

NORWALK, Connecticut, December 3 - Southern Air Holdings, Inc. today announced that Daniel J. McHugh has
been named chief executive officer, effective January 1, 2010. Mr. McHugh
succeeds James K. Neff, the company's founder and CEO who is retiring at the
end of the year and will remain a board member and significant shareholder.

Mr. McHugh is an experienced executive with extensive knowledge of the
air cargo industry. He is the former CEO of DHL Express Asia Pacific, one of
the largest logistics businesses in Asia with over 33,000 employees,
operations in 41 countries and territories and over US$4.5 billion in
revenue. Appointed CEO in 2007, Mr. McHugh led the business to consecutive
years of record earnings. He joined DHL Express Asia in 2005 as Senior Vice
President-Commercial.

"When Jim informed us of his decision to retire, we sought to recruit a
seasoned executive with deep industry expertise and believe we have found
that person in Dan McHugh," said Rowan Taylor, a Partner of Oak Hill Capital
Partners, the majority owner of Southern Air. "Dan brings extensive knowledge
of the global logistics industry and has a long and successful track record
building businesses in the sector. His knowledge of the Asia-Pacific market
will be particularly valuable as Southern Air continues to expand its
presence in this region. We look forward to many successful years under Dan's
leadership.

"We also want to express our gratitude to Jim Neff for his leadership and
hard work as founder and CEO of Southern Air. Since founding Southern Air ten
years ago, Jim has built the company into a leader and the lowest cost
operator in the air cargo industry, and we are glad that he will continue to
provide counsel to the company as a board member," Mr. Taylor added.

Mr. Neff said, "I am very proud of what the team at Southern Air has
accomplished. We have built a world-class company by continuously providing
exceptional cargo transport services to our clients at the lowest cost. We
have done this while remaining committed to the highest safety standards,
which was recognized in November by our inclusion in the International Air
Transport Association's Operational Safety Audit registry. I am confident
that the company will achieve continued success with Dan at the helm."

Mr. McHugh said, "I am thrilled to have the opportunity to lead Southern
Air at this exciting time in its development. The company has distinguished
itself as a leader in its markets and is well positioned to successfully
navigate the current challenging economic environment. Southern Air has a
promising future, and I look forward to working with the management to build
on the strong foundation that is in place and to pursue exciting new
initiatives in the future."

Prior to joining DHL Asia Pacific, Mr. McHugh invested in and worked with
Vietnam Partners LLC, a New York-based investment bank focused on Vietnam,
where he evaluated investment opportunities in the logistics and shipping
sectors. Prior to that role, he spent four years at APL, an international
liner, distribution and logistics company and subsidiary of Neptune Orient
Lines Group, where he was President of the Asia/Middle East region and then
Executive Vice President for Global Marketing, Sales & Customer Support.
Before working at APL, Mr. McHugh spent nine years at Sea-Land Service, Inc.
where he led the Latin American and North Asia regions. He began his career
at American President Companies.

Mr. McHugh has served on the boards of directors of Blue Dart Express
(India), DHL's joint venture with Sinotrans, China's leading logistics and
transportation company, and Express Courier Limited New Zealand and Express
Courier Limited Australia.

Mr. McHugh earned a BA from Loras College and an MBA from Duke
University.

Southern Air Inc. was founded in 1999 as a low-cost, high-quality cargo
carrier specializing in the provision of block space and aircraft, crew,
maintenance, and insurance ("ACMI") services through its fleet of 16 B747
freighter aircraft. It will also be the first ACMI operator in the world to
operate the new Boeing 777-200LRF next generation freighter aircraft, with
its first two 777-200LRF aircraft commencing service in the first quarter of
2010.

    Media Contacts:
    Mark Semer / Sofia Mata-Leclerc
    Kekst and Company
    Tel: +1-212-521-4800

Mark Semer or Sofia Mata-Leclerc, Kekst and Company, +1-212-521-4800, for Southern Air Holdings, Inc.