Presentation 2011

GE Capital Aviation Services

PK AirFinance

www.pkair.com

PK AIRFINANCE
PK AirFinance is a leading provider and arranger of asset based loans secured by commercial jet aircraft. PK AirFinance serves airlines, aircraft traders, lessors, investors, financial institutions and manufacturers worldwide. PK AirFinance is affiliated with GE Capital Aviation Services (GECAS).

GECAS
GE Capital Aviation Services is a leading aircraft lessor with 1,800+ owned and managed commercial jets. GECAS has 40+ years of experience. GECAS serves 245+ airline customers in more than 75 countries. GECAS has 50+ leasing executives in 25 offices worldwide. GECAS is supported by a best-in-class team of 100+ highly experienced aircraft and aircraft systems engineers. GECAS is wholly owned by General Electric.

imagination at work

PK PRODUCTS
Senior Mortgage Loans
Full payout Balloon loans Non-recourse loans

We include features such as Floating/Fixed Interest Rate Mixed Currencies Limited Recourse Early Termination and Extension Options To structure an optimal solution for every transaction, we consider Accounting Treatment Tax Treatment Legal Structure Asset Risk Credit Risk Currency Risk Interest Rate Risk Seasonal Cash Flows

Finance Leases Conditional Sales Stand-by Facilities Junior Loans Warehouse Financing Asset Value Guarantees Purchase of Loans

PK AirFinance Company Presentation 2011 4

PK AirFinance Company Presentation 2011 5

Aircraft Aircraft

PK PORTFOLIO
PORTFOLIO VOLUME SPLIT BY AIRCRAFT TYPE
EMB-170/175 EMB-170/175 EMB-190 5% 5% 4% EMB-135 0.1% 0 1% CRJ-700 1% B777-200 10% B767-300ER 5% B757-200 4% B747-400 5% B737-900 0.9% 0 9% B737-800 15% EMB-135 0.1% 0 1% CRJ-700 1% B777-200 10% B767-300ER 5% B757-200 4% B747-400 5% B737-900 0.9% 0 9% B737-800 15% B737-700 3% B737-700 B737-600 3% 0.4% 0 4% B737-500 B737-600 1% 0.4% 0 4%
Boeing 45% Regional 12% Regional 12%

PORTFOLIO VOLUME SPLIT BY PRODUCT TYPE

Latin America 5% Asia 9% Middel East, Africa, CIS 11%

PORTFOLIO VOLUME SPLIT BY OPERATOR REGION

EMB-190 ATR72-500 4% 1.2%

ATR72-500 1.2%

A319-100 16%

A319-100 16%

Investor Loans 23%

Airbus 43% Boeing 45%

Airbus 43%

A320-200 20%

A320-200 20%

North America 41%

A321 4% A330-300 2% A340-200 1% B737-500 B737-400 1%

A321 4% A330-300 2% A340-200 1%

JOL Loans 19%

Europe 34%

Airline Loans 58%

B737-300 B737-400 0.3%

B737-300 0.3%

PK AirFinance Company Presentation 2011 6

PK AirFinance Company Presentation 2011 7

TRANSACTIONS
2010 TRANSACTIONS
Air Berlin Air China Air China Alitalia Alitalia Alitalia Belle Air British Airways Brussels Airline CCM Chengdu China Eastern Comair COPA easyJet Europe Airpost fly Dubai Garuda Jet Airways Kalitta Kingfisher Luxair NordStar Orenburg SAS SAS Sky Airlines Skymark SpiceJet TAM Tarom Thomson Airways Transavia US Airways Virgin America Wizz Air 2 1 2 11 3 8 1 1 3 2 1 2 1 2 5 2 3 2 1 2 1 1 2 1 1 1 2 1 3 1 1 1 1 2 1 1 A320-200 B737-800 A320-200 A319-100 A320-200 A321-100 A319-100 A320-200 A330-200 A319-100 A319-100 A319-100 B737-800 B737-700 A319-100 B737-700 B737-800 B737-800 B737-800 B747-400BCF A320-200 B737-800 B737-800 B737-800 B737-600 B737-700 B737-800 B737-800 B737-800 A319-100 B737-800 B767-300ER B737-800 A320-200 A320-200 A320-200 Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Senior Loan Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt

2009 TRANSACTIONS
American Airlines American Airlines American Airlines American Airlines Gulf Air Hainan KLM Olympic Air Oman Air PT Lion Ryanair Sky Mark THY Transavia France TUI US Airways 2 6 3 2 2 1 5 3 1 2 1 1 1 1 3 1 B737-800W B757-200 B767-300ER B777-200 A320-200 B737-700 B747-400 A320-200 B737-800W B737-400 B737-800W B737-800W B737-800W B737-800W B737-800W A321-200 Senior Loan Senior Loan Senior Loan Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan

2008 TRANSACTIONS
Aer Arann Aeroflot-Don Aeroflot-Nord Aerolineas Argentinas Aerolineas Argentinas Air Canada Air Madagascar Air Memphis American Airlines American Airlines American Airlines American Airlines 2 1 1 2 3 2 1 2 1 8 5 5

ATR72-500 B737-500 B737-500 B737-500 A340-200 EMB190 B767-300ER A320-200 B737-800 B757-200 B767-300ER B777-200IGW

Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Senior Loan Senior Loan Mortgaged Operating Lease Debt Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan

PK AirFinance Company Presentation 2011 8

PK AirFinance Company Presentation 2011 9

Asiana Airlines Blue Wings British Midland CargoJet Delta Delta Delta Delta Delta Delta easyJet Airline Gulf Air Kalitta KD Avia Livingston LTU Macedonian Airlines Q Aviation Rossiya SAS Sky Airlines Skybus TAM Transaero Transaero United United US Airways US Airways US Airways

1 2 1 1 10 2 2 17 3 1 3 2 2 1 1 1 1 3 1 1 1 1 4 2 2 26 2 6 3

B737-500 A320-200 B737-300 B757-200SF B767-300ER B737-800 B777-200LR B757-200 B757-200 B767-300ER A319-100 A320-200 B747-400BCF B737-300 A321-200 A330-300 B737-500 various A319 B737-500 A321-200 A319 A320-200 767-300 B777-200 B777-200ER A320/319 A320-200 CRJ700 B757

Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Senior Loan Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Senior Loan Senior Loan Senior Loan Mortgaged Operating Lease Debt Senior Loan Mortgaged Operating Lease Debt Senior Loan Senior Loan Senior Loan Mortgaged Operating Lease Debt Senior Loan Senior Loan Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Senior Loan Mortgaged Operating Lease Debt Senior Loan Senior Loan

US Airways US Airways US Airways UT Air

1 4 1 3

A320-200 B737-400 A330-300 737-500

Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan

2007 TRANSACTIONS
Aeroflot-Don Air Asia Air Canada Air Europa Air One AIitalia AIitalia All Nippon Airways Blue Wing Bluebird Cargo BMI Not Disclosed Brussels Airlines Clickair CSA Delta Airlines easyJet Airline Company Ltd Europe Airpost Finnair First Choice GOL Transportes Aereos Ltd Hainan Airlines IBERIA 1 1 16 1 1 2 1 4 5 2 1 34 3 4 1 9 3 3 1 1 1 3 2 B737-500 B737-300 EMB190 B737-800 B737-400 A321-100 A321-100 B737-500 A320-200 B737-400SF B737-500 various A330-300 A320-200 B737-400 B757-200 A319-100 B737-300QC A319 B767-300ER B767-300ER B737-800 A319 Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Mortgaged Operating Lease Debt Senior Loan Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Senior Loan Mortgaged Operating Lease Debt Guarantee Given Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Senior Loan Mortgaged Operating Lease Debt

PK AirFinance Company Presentation 2011 10

PK AirFinance Company Presentation 2011 11

Jet Lite Kaliningradavia LAN Chile LOT Meridiana MyTravel Nationwide Northwest Ocean Air Ocean Air Republic Sibir S7 Skybus Southwest Spicejet TAM Linhas Aereas TAM Linhas Aereas Transavia TUI TUI Ukraine International Ural Air US Airways US Airways US Airways XL Airways

1 2 1 1 3 2 2 15 1 1 8 9 1 1 1 2 1 3 1 1 1 1 4 4 3 1

B737-800 B737-300 B767-300ER B767-300ER A319-100 A321-200 B737-500 A320-200 B757-200ER B767-300ER EMB-175 A319 A319 B737-300 B737-800 A320-200 A320-200 B737-800 B737-800 B737-500 B737-400 A320-200 B767-200 B737-300 B737-500 B767-300ER

Mortgaged Operating Lease Debt Senior Loan Mortgaged Operating Lease Debt Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan Mortgaged Operating Lease Debt Senior Loan Mortgaged Operating Lease Debt Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Senior Loan

2006 TRANSACTIONS
Aeroflot Aeromexico Air Berlin Air Canada Air Europa Alitalia ANA Blue Air Braathens ASA Clickair Continental Airlines COPA Donbassaero easyJet easyJet First Choice Futura GB Airways Hainan Airlines Iberia Icelandair Icelandair 2 1 1 1 1 2 3 1 1 1 3 4 1 5 3 2 1 1 1 2 1 1 B767-300ER B737-700 B737-800 EMB175 B737-800 A321-100 A320-200 B737-400 B737-400 A320-200 B737-800 EMB-190 B737-400 A319-100 A319-100 B757-200 B737-800 A320-201 B737-800 A320 B757-200F B767-300ER Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Secured Term Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Secured Term Loan Mortgaged Operating Lease Debt Secured Term Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Secured Term Loan Mortgaged Operating Lease Debt

PK AirFinance Company Presentation 2011 12

PK AirFinance Company Presentation 2011 13

JetBlue KD Avia Kartagho Airlines KTHY Korean Airlines LTU Martinair Norwegian Air Shuttle Pegasus Royal Air Brunei Ryanair SAS SAS Sibir S7 Sibir S7 Spicejet TACA TAP TUI United Airlines Ural Air USA3000 Genesis Leasing Undisclosed VIM-Avia Westjet XL Airways

3 5 1 2 1 3 2 1 1 6 1 3 1 10 7 1 1 1 1 5 1 1 5 4 1 1

A320-200 B737-300 A320-200 B737-800 B737-800 A330-300 B747-400SF B733-300 B737-800 B767-300ER B737-800 B737-700 B737-600 A319-100 B737-500 B737-800 A320-200 A319-100 B737-300 B737-300 A320-200 A320-200 Various B747-400SF B757-200 B737-700 B737-800

Secured Term Loan Participation Mortgaged Operating Lease Debt Secured Term Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Liquidity Facility Secured Term Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt

2005 TRANSACTIONS
Aeroflot Aigle Azur Air Canada Air Canada Air China Air One SpA Alitalia Alitalia Alitalia Alitalia Alitalia British Airways British Airways British Airways British Midland China Southern COPA Czech Airlines easyJet EVA Airways First Choice First Choice GOL Transportes Aereos GOL Transportes Aereos Hainan Airlines Hainan Airlines KD Avia Norwegian Air Shuttle Republic Airlines Sahara Airlines Sichuan Airlines

2 1 14 2 1 1 11 8 1 2 6 1 1 1 2 2 1 2 2 1 1 2 3 2 2 3 1 1 2 1

B767-300ER A320-200 EMB175 B767-300 B747-400SF B737-400 A319-100 A321-100 A320-200 B767-300 EMB145 B737-500 Various B737-500 B737-300 B757-200 EMB-190 B737-500 A319-100 B767-300ER B757-200 B757-200ER B737-700 B737-300 B737-700 B737-800 B737-300 B737-300 EMB170s B737-800 A320-200

Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Secured Term Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Secured Term Loan Secured Term Loan Secured Term Loan Secured Term Loan Secured Term Loan Secured Term Loan Mortgaged Operating Lease Debt Secured Stand-By Facility Mortgaged Operating Lease Deb Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Secured Term Loan Mortgaged Operating Lease Debt Senior Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Secured Term Loan Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt

PK AirFinance Company Presentation 2011 14

PK AirFinance Company Presentation 2011 15

Singapore Airlines Spicejet TAM Linhas Aereas TUI TUI Undisclosed

1 1 2 1 2 2

747-400 B737-800 A320-200 B757-200ER B737-800 B747-400

Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Finance Lease Mortgaged Operating Lease Debt Mortgaged Operating Lease Debt Bridge Loan

Transaero Airlines TUI Turk Hava Yollari

1 1 1

B737-400 B737-800 A320-200

Operating Lease Debt Operating Lease Financing Operating Lease Financing

2003 TRANSACTIONS
Air 2000 Air France Braathens ASA Britannia Airways AB British Airways British Airways British Midland Delta Air Lines Delta Air Lines Delta Air Lines easyJet Hainan Airlines Icelandair LTU LTU Luxair TUI United Airlines Virgin Express 1 1 2 1 3 2 1 5 9 3 1 3 1 2 2 2 3 3 1

Air Berlin Air China Air France Air Palau British Airways China Eastern easyJet easyJet Loan Gulf Air Hainan Airlines Korean Airlines Martinair Mexicana Northwest Northwest Norwegian Air Shuttle Norwegian Air Shuttle Philippine Airlines Republic Airlines SAS Thompson.com

2004 TRANSACTIONS
1 1 1 1 1 1 1 1 6 2 1 1 1 1 6 3 1 1 1 5 2 1

B737-800 B747-400SF A320-200 B737-300 B777-200ER A320-200 B737-700 A319-100 A319-100 A320-200 B737-300QC B737-900 MD-11F A320-200 A330-200 A330-300 B737-300 B737-300 A320-200 EMB170s B737-800 B737-500

Operating Lease Financing Operating Lease Debt Operating Lease Financing Operating Lease Debt Operating Lease Debt Operating Lease Financing Operating Lease Financing
Secured Partial Recourse Term Loan

Operating Lease Financing Operating Lease Debt Operating Lease Debt Secured Term Loan Operating Lease Debt Operating Lease Debt Secured Term Loan Secured Term Loan Operating Lease Financing Operating Lease Debt Operating Lease Debt Secured Term Loan Operating Lease Financing Operating Lease Debt

B757-200ER A320-200 B737-700 B757-200ER A320-200 A320 B737-500 B767-400ER B767-400 B777-200ER B737-700 B737-300QC B757-200ER A320-200 A321-200 B737-400 B737-800 Various B737-400

Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Secured Term Loan Secured Letter Of Credit Facility Secured Letter Of Credit Facility Operating Lease Debt Operating Lease Debt Operating Lease Debt Secured Term Loan Secured Term Loan Operating Lease Debt Operating Lease Debt Liquidity Facility Operating Lease Debt

PK AirFinance Company Presentation 2011 16

PK AirFinance Company Presentation 2011 17

Air Atlanta Air Caledonia Alitalia America West America West Asiana ATA BlueBird Cargo Braathens Delta easyJet Iberia Jet Airways JetBlue Airways KTHY LTU My Travel My Travel Pegasus SA Airlink Silk Air Skynet Swiss TAM TAP TUI United Airlines United Airlines United Airlines United Airlines United Airlines United Airlines

2002 TRANSACTIONS

1 1 5 9 5 1 9 1 1 19 3 2 4 2 2 2 1 2 1 1 1 1 7 4 3 2 16 4 1 4 9 23

B747-200F B737-300 A321-100 A319 EETC A320-200 EETC B767-300ER B737-800 EETC B737-300C B737-400 Various EEETC B737-700 A320-200 B737-700 A320-200 B737-800 A320-200 A321-200 A320-200 B737-800 EMB135 A320-200 B737-400 EMB145 A320-200 A340-200 B737-800 B757-200 USLL B737-300 USLL B737-500 USLL B777-200 A319 A320-200

Operating Lease Debt Operating Lease Debt Secured Term Loan C-tranche C-tranche Operating Lease Debt C-tranche Conditional Sale Operating Lease Debt A-tranche Operating Lease Debt Operating Lease Debt Secured Term Loan Secured Term Loan Operating Lease Debt Secured Term Loan Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Secured Term Loan Secured Term Loan Operating Lease Debt Debt Purchase Debt Purchase Debt Purchase Secured Term Loan Secured Term Loan Secured Term Loan

Aer Lingus Aeromexico Aeromexico Air 2000 Aircraft Exposure Management Airtours America West Boeing British Airways British Midland Delta Airlines Falcon Air Frontier Airlines Futura Iberia Jet Blue Korean Airlines Luxair Malaysian Airlines SAS Sky Airways South African Airlink Swissair TACA TAM United Airlines

2001 TRANSACTIONS

2 1 1 1 7 1 5 1 22 1 19 1 3 1 1 1 3 1 1 3 1 2 1 1 3 1

B737-800 MD-82 MD-87 A321-200 B747-200F A321-200 B737-300 B737-400 Various B737-300 Various B-737-300QC A319 B737-800 A320-200 A320-200 B737-800 B737-500 B777-200 B737-600 B737-300 EMB 135 A320-200 A320-200 A330-200 B757-200

Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Mortgaged Credit Facility Operating Lease Debt
Secondary Purchase of Debt Certificates

Operating Lease Debt Mortgaged Credit Facility Operating Lease Debt E-EETC B-tranche Operating Lease Debt Secured Term Loan Operating Lease Debt Operating Lease Debt Junior Debt

Secondary Purchase of Debt Certificates

Operating Lease Debt Loan Participation Operating Lease Debt Operating Lease Debt Operating Lease Debt Operating Lease Debt Secured Term Loan Secured Term Loan Secondary Purchase of Debt Certificates

PK AirFinance Company Presentation 2011 18

PK AirFinance Company Presentation 2011 19

COMPANY HISTORY
1979 1983 1985 1988 1990 1991 1993 1994 PK Finans established in Luxembourg by PKbanken Sweden First aircraft financing (Martinair DC-10-30) First syndicated aviation facility (UAS Pool) Separate Air Group established 85% of Air Group sold to Crdit Lyonnais (CL) Company renamed Crdit Lyonnais/PK Airfinance (CLPK) CLPK opens branch in New York Remaining 15% sold to CL Loss incurred. Changes in management. Recapitalization Asset Management Unit set up PK implements unique Risk-Reward tool (SAFE) 2001 2004 2005 2010 1996 1998 2000 CLPK opens office in Tokyo European Commission asks CL to sell CLPK PK closes first ever a/c backed CLO General Electric Capital Corporation buys CLPK Airfinance Company renamed PK AirFinance PK opens office in Toulouse Licenses its risk-reward diagnostics system (SAFE) to Boeing Capital Air Finance Journal European Deal of the Year Award for British Airways Secured Stand-By Facility PK AirFinance originates $1,400,000,000 in new volume Company reaches $7.5 billion in portfolio volume Cumulative origination reaches $24 billion PK AirFinance Japan becomes part of GE Japan Corporation

PK AirFinance Company Presentation 2011 20

PK AirFinance Company Presentation 2011 21

AIRCRAFT
(Collateral 31/Dec/2010)
A319-100 A320-200 B737-800 B767-300ER B757-200 B747-400 EMB-190 A321 EMB-170/175 B777-200 B737-500 B737-700 B737-400 CRJ-700ER A330-300 B737-300 B737-600 B747-400SF A340-200 EMB-135 ATR72-500 B737-900 Total 79 77 47 41 39 25 24 23 23 20 14 12 9 6 5 5 5 4 3 3 2 1 467

AIRLINES
(31/ Dec/2010)
Aer Arann Aerolineas Argentinas Aeromexico Air Berlin Air Canada Air China Air Corsica Air Europa Air Madagascar Air Memphis Air One Airlink Alitalia All Nippon Airways American Airlines Asiana Avianca Belle Air Bluebird Cargo bmi British Midland British Airways Brussels Airlines CargoJet Chengdu Airlines China Eastern Comair Continental COPA Delta Air Donavia Donbassaero easyJet Europe Airpost Finnair flyDubai Garuda GOL Hainan Iberia IndiGo JeJu Air Jet 2 Jet Airways JetBlue Kalitta Air Kingfisher KLM Korean Air LTU Luxair Olympic Air Meridiana-Fly NordStar Nouvelair Oman Air Orenair Pioneer Aviation PT Lion Mentari Republic Royal Brunei Ryanair SAS Sibir Airlines Sichuan Sky Airlines Skymark Spanair SpiceJet TAM TAP Tarom Thomas Cook Airlines Thomson Airways THY Tiger Airways Transaero Transavia Transavia France Travel Servis TUI Travel plc Ukraine United Ural US Airways USA 3000 UTAir Virgin America Vueling WestJet Wizz Air

PK AirFinance Company Presentation 2011 22

PK AirFinance Company Presentation 2011 23

THE BASIC STRUCTURES THE BASIC STRUCTURES

HOW WE CALCULATE THE ODDS HOW WE CALCULATE THE ODDS

Asset Risk
Airline Loan Investor Loan
Aircraft Value Projection With Confidence Bands

Credit Risk

PK AirFinance

PK AirFinance
Airline Performance Probability

Loan Assignment

Mortgage
Outstanding Amount

Loan

Mortgage

Special Purpose Company

0 1 2 3 4 5

Balloon Recourse Or Non-Recourse

Lease

10

10

Airline 22 PK AirFinance Company Presentation 2009

Airline

PK AirFinance Company Presentation 2009 23

PK AirFinance Company Presentation 2011 24

PK AirFinance Company Presentation 2011 25

BASIC DATA WE NEED TO DISCUSS YOUR TRANSACTION

Transaction
Financed amount Currency Repayment profile Interest rate basis (floating/fixed)

MEET THE PK TEAM MEET THE PK TEAM

Aircraft
Type Year of manufacture Serial Number Registration Engine Type Max Take-Off Weight Specifications Maintenance Program and Condition

Luxembourg New York Tokyo

Borrower
Name Financials Jurisdiction

Underlying Lease
Lessee Term Rent Maintenance Reserves Return Conditions Lease Deposit

Airline
Name Financials Jurisdiction

PK AirFinance Company Presentation 2011 26

PK AirFinance Company Presentation 2009 25 PK AirFinance Company Presentation 2011 27

CONTACT LIST
LUXEMBOURG

www.pkair.com

NEW YORK

TOKYO

Nils Hallerstrm
Administration

Christophe Beaubron
Risk & Analysis

Tina Hongisto
Administration

Serge Michels
Administration

Maggie Morrow
Marketing

Shinji Sato
Marketing

Yoshifumi Sakuragi
Risk

Per Waldelf
Marketing

Frank Withofs

Portfolio & Treasury

Yvonne Chenery
Contracts

Saida Douah

Administration

Virginia Izaguirre
Administration

Miyuki Hayashi
Administration

Emanuele Andreta
Marketing

Akiko Kawaguchi
Administration

PK AirFinance Company Presentation 2011 28

PK AirFinance Company Presentation 2011 29

Name

Business Phone

E-mail

Luxembourg - PK AirFinance SARL European Bank and Business Center, 6D, Route de Trves, L-2633 Senningerberg, Luxembourg
Hallerstrm, Nils Beaubron, Christophe Chenery, Yvonne Douah, Saida Hongisto, Tina Michels, Serge Withofs, Frank +352 34 20 30 24 +352 34 20 30 25 +352 34 20 30 22 +352 34 20 30 27 +352 34 20 30 23 +352 34 20 30 20 +352 34 20 30 21 n.hallerstrom@pkair.com c.beaubron@pkair.com y.chenery@pkair.com s.douah@pkair.com t.hongisto@pkair.com s.michels@pkair.com f.withofs@pkair.com

New-York - PK AirFinance US, INC. 400 Madison Avenue, Suite 9C, New York, N.Y. 10017, USA
Morrow, Maggie +1 (212) 245 25 75 m.morrow@pkair.com

Tokyo - PK AirFinance Japan, GE Japan Corporation Akasaka Park Bldg., 5-2-20, Akasaka, Minato-ku, Tokyo 107-6112, Japan
Sato, Shinji Andreta, Emanuele Hayashi, Miyuki Kawaguchi, Akiko Sakuragi, Yoshifumi Waldelf, Per +81 (3) 35 88 61 55 +81 (3) 55 44 49 43 +81 (3) 35 88 62 94 +81 (3) 55 44 37 93 +81 (3) 35 88 95 34 +81 (3) 35 88 51 56 s.sato@pkair.com e.andreta@pkair.com m.hayashi@pkair.com a.kawaguchi@pkair.com y.sakuragi@pkair.com p.waldelof@pkair.com

PK AirFinance Company Presentation 2011 30

GE imagination at work

R.C.S. Luxembourg B27840 Capital USD 10,000,000 PK AirFinance S. r.l.