Bermuda Aviation Services Ltd Release Interim Financial Report To 30 September, 2009

Hamilton, Bermuda - 09 November, 2009 - In a filing to the Bermuda Stock Exchange (BSX), Bermuda Aviations Services Ltd. (the "Company"; Ticker: BAS.BH) has released unaudited interim financial report to 30 September, 2009. Complete filing has been posted to the Company entry on the BSX web-site.

The Group President addresses shareholders therein.

"To our shareholders

Fiscal 2010 has been challenging. The economic environment has remained inhospitable to local business as Bermuda feels the burden of economic hardship. BAS has not been unscathed and this has been clearly highlighted by a near $3 Million or 10% contraction in our revenues. Notwithstanding, BAS has generated operating earnings of just over $2 Million and net earnings for the six-month period of $1.98 Million. The net earnings have been buoyed, in part, by recognition of the damages settlement of $202 Thousand owed to BAS from the Bermuda Government. Whilst, expectedly down from last year, our half year results are solid given the status of the local economy and they speak to management's keen focus on cost containment and efficiency in these difficult times.

ASB Ltd. has performed modestly as the aircraft handling operation continues to struggle in this climate. Revenues in this segment of the operation fell materially from last year. The main driver for this drop has been the steady decline year on year of commercial aircraft traffic and to a much lesser extent we have seen marginal revenue erosion due to new competition in these areas.  The cumulative impact has been a material decline in earnings of 80% below last year's performance.

In contrast, both BAS-Serco and Weir Ltd. have exceeded last year's results and our budgetary expectations and continue to perform well in this harsh economic climate. Otis Bermuda Ltd., despite preserving its revenue, has seen a 43% decline in earnings as management has made a conscious decision to invest in the quality of its elevator maintenance program and improve the state of its clients' equipment. It was a prudent decision and one we expect to prove beneficial for the future operation of Otis Bermuda.

IBC Ltd., although down from last year, as its revenue base has mirrored falling consumer spending habits, has performed commendably, having exceeded management's expectations. CCS Ltd. has produced much stronger results than last year with earnings up over 20% from last year despite revenue falling by 10%. Management is pleased with the direction that CCS is heading and is cautiously optimistic in expecting an equally impressive second half performance.

The next half of the year will be equally challenging, if not more so, for the local economy. Management intends to remain vigilant and look for efficiencies and opportunities to strengthen BAS. "

Kenneth Joaquin        

Group President