Ummah Airways - Business Plan

Thosewhoservethepeoplearetheirleaders...
andweleadbyexample!
CIConsultants
108ShirecliffeLane
Sheffield,UK.S39AE
+44(0)7951540631
+44(0)1142752368
m4srur@yahoo.com
PrivateandConfidential
Businessplan3.0
UmmahAirways
Confidentiality Agreement
The undersigned reader acknowledges that the information provided by CI
Consultants in this business plan is confidential therefore, reader agrees not to
disclose it without the express written permission of Syed MA Rahman or Marlina
Wong.
Itisacknowledgedbyreaderthatinformationtobefurnishedinthisbusinessplanis
in all respects confidential in nature, other than information which is in the public
domainthroughothermeansandthatanydisclosureoruseofsamebyreader,may
causeseriousharmordamagetoCIConsultantsandassociates.
Upon request,this document is tobeimmediately returnedto SyedMARahmanor
MarlinaWong.
___________________
Signature
___________________
Name(typedorprinted)
___________________
Date
Thisisabusinessplan.Itdoesnotimplyanofferingofsecurities.
CIConsultantsLtd
RegistrationNo.4138904
Copyright2006
TableofContents
1.
ExecutiveSummary ........................................................................................................ 1
1.1. Objectives................................................................................................................ 3
1.2. Mission .................................................................................................................... 5
1.2.1.
Vision .............................................................................................................. 5
1.3. KeystoSuccess....................................................................................................... 7
2. CompanySummary....................................................................................................... 10
2.1. CompanyOwnership ............................................................................................ 11
2.2. StartupSummary ................................................................................................. 12
3. Services.......................................................................................................................... 16
4. MarketAnalysisSummary ........................................................................................... 16
4.1. MarketSegmentation............................................................................................ 17
4.2. ServiceBusinessAnalysis.................................................................................... 20
5. StrategyandImplementationSummary ...................................................................... 20
5.1. MarketingStrategy ............................................................................................... 21
5.2. SalesStrategy........................................................................................................ 21
5.2.1.
SalesForecast ............................................................................................... 22
5.3. Milestones ............................................................................................................. 24
6. ManagementSummary ................................................................................................. 25
6.1. PersonnelPlan....................................................................................................... 26
7. FinancialPlan ................................................................................................................ 29
7.1. ImportantAssumptions ........................................................................................ 31
7.2. BreakevenAnalysis............................................................................................. 43
7.3. ProjectedProfitandLoss ..................................................................................... 43
7.4. ProjectedCashFlow............................................................................................. 45
7.5. ProjectedBalanceSheet ....................................................................................... 48
7.6. BusinessRatios ..................................................................................................... 50
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1. ExecutiveSummary
Market factors favor inauguration of a new airline to meet the demand for
additional, higherquality passenger and cargo service linkingOIC countries
togetherwith the rapidly expanding markets ofWest and China, and
linkingOIC destinations together, via Western European hubs, to transAtlantic
andglobaldestinations.
Thisnewairlinewillbaseitsbusinessandmarketingstrategiesonachievinghigh,
andprofitable,loadfactorsthroughabsorptionofunmetdemandinthreekeyair
traffic categories: unserved and underserved routes on which high unmet
demandcurrentlyexistsorcanbe readilydevelopedservingkeynichemarkets
where demand is either unmet or poorly served and meeting peak traffic
demandsoncertainkeyregional,seasonal,andvariablerouteswhereveryhigh
load factors can be predicted despite existing but lowerquality competition, or
wherecompetitioncannotmeetthedemand.
In addition, the proposed new airline will be designed around, and operated
utilizing,themostuptodateelectronic,informational,andaviationtechnologies
toensurelowoperatingandmarketingcosts,maximumefficiencyindeployment
ofitsresources,andahighlevel ofcustomerserviceandconvenience.Anditis
this final element dedicating the airline, its staff, and its organization to
providing a high level of customer service and convenience, and efficiently
meetingtheneeds,wants,comfort,andsafetyofthepassengerthatwillassure
the proposed airline's rapid acceptance in the marketplace and its longterm
growthandsuccess.
Particularly in the post09/11/01 environment, experience in Europe has shown
that those carriers which can maintain a "meanandlean" operation while still
meeting the needs and desires of the traveling public, with the right fares, will
notonlysurvive,butcanprosper.
The six key characteristics leading to the success and profitability of this new
carrierwillbe:
Provision of highquality service on routes and in markets that currently

are either unserved, poorly served, or undersubscribed by existing
carriers,therebysettingbothanewtrendandanewpaceinairserviceto
andwithintheOICregions.
Employment of costeffective, uptodate regional aircraft that will be
sized right for the market and the route, leading to higher load factors,
reduced costs, improved efficiency and flexibility, greater passenger
comfort and satisfaction, and higher net profits. Outfitting these aircraft
withthe latestaviationtechnologiesandnavigationalequipmentwillhelp
ensure the highest level of reliability, punctuality, safety, and customer
satisfaction.
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Utilization of the latest electronic and informational technologies in sales

and marketing reservations, ticketing and checkin scheduling and
resource planning cargo tracking and operational oversight. Such
techniques as internet marketing, reservations, and sales electronic
ticketing and checkin online quality control, resource planning,
operationaloversight,cargoandbaggage tracking,andcustomerservice,
allwillreducestaffingrequirementswhileofferingeaseofuseandgreatly
enhancedaccessby,andconvenienceto,thecustomer.
Recognition that not everyoneis geared for the electronicworld, leading
the proposed airline to provide a high level of nonelectronic service as
well, particularly to the many newer, lessexperienced travelers but
futureloyalcustomersfoundintheregion.
Ensuringafriendly,cooperative,enjoyable,yethighlyprofessionalfaceto
thecustomer.
Development and implementation of cooperations, associations, and
partnerships with other larger, more established, and highly regarded
airlines bothwithinandbeyondtheregiontoprovide anextensive range
of connections, through fares, frequentflyer mileage sharing, and other
passenger and client advantages through interline arrangements, code
shares,commonhubbing,andsoforth.
In short, the goal of this new airline is to be known to the passenger and the
cargo customer by its proposed motto: "Those who serve the people are their
leadersandweleadbyexample"
Primaryfinancialresultsanticipatedduringthefirstyearofoperationsinclude:
Averagepassengerloadfactorsinthe6080percentrange,dependingon
route and season, reached within the first year of flight operations, and
increasingthereaftertothe7590percentrange.
Revenuesapproaching15 millionUSDwithinthe firstsixmonthsof flight
operations, exceeding40 million USDby the end of the first year,90
million USDin the second year of operations, and nearly150 million
USDinthethird.
A grossoperatingmargin ofcloseto20percent achievedwithin thefirst
year of operations, reaching close to double that by the third year, and
with steady growth enabling rational expansion of the airline thereafter.
Even in the first year of operations, a pretax profit of2 million USDis
anticipated. This is applying a very conservative business model, and is
achieved on an initial investment of less than12 million USD, yielding a
returnon equityof 11.5percent. The accompanyingchart illustrates the
growthandprofitpotentialpresent.
A key element contributing to the success of this new carrier will be its
organizational and management team. Leading this team is CI Consultants, a
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U.K.corporationthatisregionallybasedinMalaysiaandwhichknowsthe region
anditsbusinessneeds.CIConsultants,togetherwithitspartnercompaniesand
associations throughout the countries ofOIC Countriesand beyond, identifies
business and profit opportunities and develops projects and strategic
partnershipstoimplementandbenefitfromthem.
JoiningtheCIConsultantsteamareaviation,finance,andmarketingexpertswith
longandsuccessfultrackrecords,includingextensive experienceorganizingand
managing other startup airlines of both a regional and global scope. This
organizationalandmanagementteam,whichisdescribedingreaterdetailinthe
sectionofthebusinessplandealingwiththeManagementTeam,willhelpreduce
theriskandensurethesuccessoftheproposednewcarrier.
Highlights
1.1.
Objectives
Theproposedairlinewillhaveasitsprimaryobjectivesthefollowing
elements:
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1. To establish and operate a newglobal airline aiming specifically at

linkingtheMuslimcountrieswiththerapidlyexpandingmarketsofthe57OIC
countries eventuallyconnecting these countrieswithchinaand Africa, and
linkingall thesedestinations, via Western Europeanhubs, to transAtlantic
andglobaldestinations.
2. To provide service and absorb unmet demand in three key traffic
categories: unserved and underserved routes on which high demand
currently exists or can be developed serving key niche markets where
demandiseitherunmetorpoorlyservedandmeetingpeaktrafficdemands
on certainkey regional, seasonal, andvariable routeswhereveryhighload
factorscanbepredicteddespiteexisting,butlowerquality,competition.
3. To implement an organizational and marketing strategy that will,
beginning in the first year of flight operations, achieve average passenger
loadfactorsinthe6585percentrange,dependingonrouteandseason,and
increasing thereafter to the 7590 percent range, thereby maximizing
revenuesandreturnoninvestmentwhileminimizingrisk.
4. To achieve revenues in excess of 10 million USDper quarter within the
first six months of flight operations, and exceeding 15 million USDper
quarter,bytheendofthefirstyear.
5.Toachievenetoperatingprofitsinthe2530percentrangewithinthefirst
12 months of flight operations, an annualized returnoninvestment of
approximately20percent by theendofthe secondyearof operations,and
steadygrowthenablingrationalexpansionoftheairlinethereafter.
6. To achieve the projected results starting with three midtolargesize
regional aircraft, growing to five by the end of the first year of operations,
similar to the 99passenger British Aerospace Avro RJ100 or 85 99seat
Avro RJ85 regional jet aircraft, obtained on either a drylease or purchase
basis supplementing those aircraft with larger, longerrange passenger
aircraft and cargo liners on a charter or wetlease basis to serve peak
demand andintermittent routes andperiods,as well as cargodemands,as
called for by the business plan and incrementally expanding the fleet size
and scope on a drylease or purchase basis to at least double its initial
capacity by the beginning of the third year of operations to accommodate
projectedpassengerandcargogrowthinthebusinessplan'soutyears.
7. To gear operations, and present a professional, serious, growthoriented
image from the outset, that will set the stage for reasoned, planned
expansion,mirroringgrowth rates projected for the first yearofoperations,
and that will enable the airline to extend its regional scope and, in future
years, to transition from its initial regional status into a larger continental
andintercontinentalcarrier.
8. As an element critical to achieving the airline's other key objectives, to
identify and develop key interline alliances, cooperations, associations, and
partnershipswithotherlarger,moreestablished,andhighlyregardedairlines
bothwithinandbeyondthetargetregionthatwillenabletheproposedairline
to provide an extensive range of connections, through fares, frequentflyer
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mileagesharing,andotherpassengerandclientadvantagesthroughinterline
arrangements,codeshares,commonhubbing,andsoforth.
1.2.
Mission
The OIC unites 57 states, from Africa to Asia and the Pacific, within one
framework of a single international organisation. Not all the states are
Islamic nations' some have very little Muslim population but all have
agreed to come together topool their resources together, to combine their
efforts,toshareexperienceandexpertise,andtospeakwithonevoice.
The proposed new airline's mission, simply stated, is to fill a niche in the
growingairtravelandcargomarketslinkingtheOICstatestogetherthrough
transportation developing relationships, trade and tourism between the
countries.
To achieve high, andprofitable, load factors by identifyingand serving key
routesandcitypairscurrentlyunserved,underserved,orpoorlyserved,and
where significant unmet demand exists and to set a new standard for air
service and professionalism both within the target market region and
beyond.
By utilizing the latest aviation, electronic, and informational technologies,
and by designing effective and efficient systems and building in quality
control from the outset, we aim to ensure the highest level of service,
operations, and safety, all based around the needs, wants, comfort, and
convenience of the passenger and the cargo client. This combination of
technology,serviceorientation,andqualityoversightwillhelpkeepcostsat
aminimumandmaximizeprofitsto theairlineand itsinvestors.Italsowill
helpbuildthestrongcustomersatisfactionandexcellentreputationthatwill
enable the airline to build solid, and crucially important, interline
arrangementsnecessaryto expanditsscope and customerattractionin the
earlystages,andwhichwillleadto continuedlongtermgrowthbothwithin
thetargetmarketareaand,lookingtowardthefuture,beyond.
In short, this airline wants to be known by its proposed guiding motto:
"Thosewhoservethepeoplearetheirleaders"
1.2.1. TheVisionforthefutureanditsconcepts
Initially two leased Boeing 737200s and essentially will act as a "virtual airline"
contractingeverythingfrompilotstocheckinstaff.Thefirstbookingwillbetakenby
early 2006, from creative exhibition booths at Kula Lumpur and Jakarta to Jeddah
airport, called ummahLand. Our concept of eliminating travel agents is at times
radical and revolutionary, but proved to be successful for EasyJet in 10 November
1995. Ummah Airways inaugural flight will to take for the skies from Jakarta
airporttoKulaLumpurcarrying120passengers.
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Thebusinesswillcomeaverylongwayinthenexttenyears.Wewillacquire,with
great excitement, our first owned aircraft in 2007 and begin our first international
routesinthesameyear.WewillalsolooktoprizeAirOperatorsCertificategranted
by that year, by then we also will reach financial breakeven for the investments,
andplacefurtherordersfor12brandnewBoeing737300sfordeliveryby2010.
Bytheendof2006,wewillsellourfirstseatonlineatUmmahAirways.com,with
the introduction of our "The Muslim's favourite airline" tagline and lead the airline
industry in the developing countries, making the internet as the preferred
distribution channel. In addition that year we will have purchased 40% of an Arab
and/orAsianCharteroperation.
Thebusinesswillcontinuetogrow,andwillbefloatedontheBahrainiorDubaiStock
Exchange end of 2007.We will use the boostof funds and capability toacquired a
failing western airline company that year to continue with the growth and ensure
that infrastructures inplace tomeet thosedemands.Awellplannedand successful
transformation will be followed. Airbus will be appointed as our preferred aircraft
supplier and we will order a massive 120 aircraft for delivery over the next five
years.OurfirstAirbuswillgointoserviceinKulaLumpurbytheendof2008.
From our small andoften difficult beginnings,we will have a hugepresence across
the Asia with 212 routes across 57 of OIC countriesbestplacedand most popular
airports.Gettingthereisn'taneasyrideandnotforthosewithweakstomachs!
Ummah Airways is a small fish in a very large sea. However, commitment and
determinationwilldriveourpeopletobelieveandrecognisethattheyhadaproduct
thatwouldchangethelivesofMuslimconsumersforever.Alongtheway,wewillpick
fightswithbiggerairlineswhichwilltryorthreatenedtotrytouseanticompetitive
behaviourtoblockourway.
We will remember with pride our battles with airlines such as Emirates, Saudia
Airlinesand most of alllocalairlines,when we operate a charter service (complete
withholidaypackages, hotels anddomestic transportations)tobeat theirmonopoly
onportfoliosuchasthe Hajj&Umrahservicesanddeliverlowpricestocustomers.
We willindeedthankouremployees for theirprofessionalismanddedicationto our
uniquevaluesandcustomerservice.
UmmahAirwayswillstillbegrowing.During2010we'vewillhavereachedseveral
majormilestones:wewillhaveflownour100millionthpassengers,andwewilltake
deliveryof our100thAircraft,as wellasour 50th Airbus.In thepasttenyears we
willhavegrowntoanairlinewhichcarries30millionpassengersayear:afeatwhich
took Rayan Air and others like it twice the time to achieve. Consistent with our
values of delivering excellent service to our customers through our people, we will
have celebratedour10thbirthday whichhas been markedby especiallyevent held
bytheOICsummit.
Iamproudofhavingpresentedthe visionfor Ummah Airwaysas it willshakeup
the industry in the next ten years. We will have provided a huge increase in the
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range of services available to Musims, all at lower prices and the customer having
rewarded us by travelling in numbers that would have seemed impossible a few
yearsback.UmmahAirwayswillleadtheway,butthecustomeristheclearwinner
and they have responded by travelling more frequently, expanding the Muslim
marketfortourismandtradewithintheOICcountriesandbeyond.
Wewillhavechangedthewaythatpeoplethinkabouttravel,and,indoingso,have
openedup the continent by making it cheaper for people to fly. The Ummah lands
are now available to everyonewhenever theywant both for business and leisure
travel. We've been responsible for thousands of life enhancing experiences and
journeysmademademillionsofintroductionsandforgedcountlessfriendships.
We've launched a means by which helped people to realise their dreams. I wish
UmmahAirwaysandmysuccessors,inthisvisionandimplementation,allthebest
forthefutureasUmmahAirwayscontinuestogrow.
UmmahAirwaysthevisionforthefuture
SyedMasrur
1.3.
KeystoSuccess
In descending order of importance, the five critical keys to success for the
proposednewglobalairlineare:
Employing an experienced, highly professional management
teamthatcombinesvisionrealismfinancialabilitysolidknowledge
ofthe aviationbusinessfamiliaritywith,andbeliefin,theutilization
and benefits of the latest aviation, electronic, and informational
technologiesonthegroundknowledge ofthe regionandmarketsto
be served realization of the crucial importance of an organization's
personneltoitssuccessandatotalfamiliaritywith,andcommitment
to,theoverallmissionandgoalsoftheproposednewairline.
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Intelligent, progressive, and aggressive marketing that

identifies the airline as a different kind of player, one that is
sharper and smarter, and with a higher level of professionalism and
operational standard than is the norm in the target region.
Concentration on safety, with highly trained, dedicated, and
professionalpersonnel,caringforthe passenger and the passenger's
needs and wants, the advantages offered by advanced technology,
and straightforward, understandable, highly competitive tariffs and
farepricing,allwillformkeypillarsofthemarketingstrategy.
Identification,throughcarefulmarketresearch,ofunservedor
underservedroutesandcitypairsinthetargetmarketareawith
sufficientpassengerdemandtoenablehighloadfactorsandprofitable
operationsutilizingthecategoryofaircraftenvisaged.
Use of an alljet fleet of newer, modern, Westernbuilt mix of
regional and nationalaircraft that offer a high level of comfort,
safety,and fuelandoperational efficiencyand flexibility, whichmeet
all normal aviation standards, and which offer sufficient, but not
excessive,passengerandcargocapacityontheenvisagedroutes.
Use of advanced electronic and information technology to
reduce staffing and other operational costs expand the potential
marketbase readily capture salesopportunities simplify and speed
passenger, baggage, and cargo handling and enhance customer
convenienceandsatisfaction.
Additional important, though less critical, keys to assuring the airline's
successincludethefollowing:
Identifying, negotiating, and entering into, in the pre
operational stage and early on, beneficial associations,
cooperations, and partnerships with larger, more established,
highlyregardedcarriersbothwithinandbeyondthetargetmarket
region to offer interline arrangements, through fares, frequentflyer
mileage sharing, and convenient hubbing and longdistance onward
connections to passengers. Successful execution of this element of
the business plan is crucial to the overall success and growth of the
airline, and must be kept in mind in the organizational plan and
structuringoftheairline.
Establishing a high level of operational oversight and quality
control that will ensure that the airline always lives up to its
marketing commitments and fulfills the promise of a high level of
service, customer satisfaction, convenience, and safety, at a
reasonable,highlycompetitivefare.
Avoiding the temptation to go headtohead with established
carriersonroutesthatalreadyarewellserved,unlesssolidevidence
exists of additional, significant pentup demand, or widespread
customerdissatisfactionwithexistingservices.
Maintainingflexibilitythatenablestheairlinetoalwaysrespondand
adapttochangingmarketconditionsandopportunities,withoutbeing
erratic,andemployingequipment,scheduling,andstaffingonabasis
thatissufficienttogetthejobdoneproperly,efficiently,andatahigh
rateofreturn,without"overkill"orfieldingcostlyexcesscapacityor,
conversely,undulycancellingscheduledflightoperations.
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Identifying, developing, and quickly and costeffectively

exploiting opportunities for new markets, new market concepts,
andexpandedsalespotential.
Supplementingregularly scheduledpassengerservicewithboth
regularly scheduled and also special cargo services when and where
sufficient demand exists, and also with seasonal, peakperiod, and
other intermittent passenger services on certain key regional,
seasonal, and variable routes where very high load factors can be
predicted despite existing but lowerquality competition, or where
competition cannot meet the demand. Larger, longerrange, or
specializedaircraft maybe employedona charteror wetlease basis
to provide these supplemental, but potentially highly profitable,
passengerandcargoservices.
Looking to combine the core aviation business with ancillary
marketing concepts and activities and groundbased operations
that support, supplement, and complement the aviation elements of
the business, including such activities as package, group, and
chartertravel program offerings valueadded sales and customer
services,bothlandandInternetbasedconstructionandoperationof
enhanced passenger, baggage, and cargohandling facilities and
servicesand other logical business pursuits both within and outside
theimmediateaviationbusiness.
Avoiding growth for growth's sake, and instead looking for solid
nicheenlargement opportunities that will allow incremental, but
alwaysprofitable,expansion.
Keystosuccessforthecompanywillinclude:
1.Maintainingareputableanduntarnishedreputationinthecommunity.
2.Qualitycare.
3.Competitivepricing.
4.Flexiblehours.
TheSuccessfactorswillbemeasuredby:
1.Excellence in fulfilling the promisecompletely confidential, reliable,
trustworthyexpertiseandinformation.
2.Developingvisibilitytogeneratenewbusinessleads.
3.Leveraging from a single pool of expertise into multiple revenue
generation opportunities: retainer consulting, project consulting,
marketresearch,andmarketresearchpublishedreports.
Basedonourresearch,ourprimary targetedmarketisMuslimprofessionals
(ages25 to 60). With that in mind, we intend to design our facilities to
address thisprimary market,while keepinginmind the secondary markets
suchafamilyandbusinesses.
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Webelievethatourmainkeystosuccessinclude:
Providingpopularandwiderangingproductsandservicespackagedas
solutions.
Ampleandsecuresolutions.
Seasonalactivitiesforyearroundneeds
Theuseofstateofthearttechnology
Easyaccesstothecompany
Targethightrafficareasformaximumpublicexposure
Designfacilitiestoservicespecialneeds
Seasonedmanagementteam
Webelievethatwecanminimizecertainriskfactorsby:
Initialcapitalizationofthecompanytosustainoperationsthroughyear
one
Low overhead through the use of multiskilled employees and
continualtraining
Strongcustomerbasethroughproactiveandsustainedmarketing
Strongcommunitytiesandinvolvement
Eliminatesunkcostsbyoutsourcing
2. CompanySummary
The plan for the envisaged newinternational airline is an outgrowth of the
marketresearchandexperienceofCIConsultantsandassociates,garneredover
anearlythreeyearperiod,beginninginmid2003.
CIConsultants,whichisproposingtofoundthenewairlinebusinessplanwitha
comprehensive feasibility study, is a U.K. corporation registered in the England
(Reg No. 4138904) and headquartered in Sheffield, with a far eastern regional
headquarters located in Kula Lumpur, together with its partner companies and
associations throughout the countries ofthe OICand beyond, identifies key
business and profit opportunities and develops projects and strategic
partnershipstoimplementandbenefitfromthem.
Early on following its establishment in the feasibility study,CI
Consultantsidentified a growth opportunity in the aviation and travel sector in
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Muslim market. This opportunity is occasioned by growing economic, political,

and social stability, and consequent significant business expansion, within and
betweenmostofthecountriesoftheunionvastlyexpandedoutsidecontactand
support with and for the region, occasioned by the aftermath of the world
conflicts extensive Governmental corporation is between these governments
and such multilateral initiatives as the 10th Organization of Islamic Conference
(OIC) Summit with the Putrajaya Declaration, the mission of which is: 'that
Muslims needed to embrace modern knowledge and technology, and overcome
divisions over religious dogma that has left them weak.Aroadmap aimed at
strengthening the OIC and the Islamic world focusing on enhancing intraOIC
trade,investment,technologyandstructuralreforms'.
Additionally, the company has determined that maximum potential from this
growth opportunity canbeobtained not only by linking certain key destinations
within the OIC regions, but by linking the region with carefully selected
destinationsandbeyond.Itfurtherhasidentifiedsignificantunmetdemand,and
significant short, medium, and longterm growth potential, represented
byEurope and the USA and also rapid growth of theChinese economy and its
domestic and international airtravel market, particularly in light of China's
growingeconomicandpoliticalintegrationwiththeOICCommunityandAsiaasa
whole.
AncillaryTravelServices
Inresponsetothegrowingtravelmarketpotentialofthe region,representedin
particularbythelargemigrantcommunitieslivingandworkingdifferentinparts
oftheseregions,includingmiddleeastandthewestingeneral.
Thenetworkoftravelagenciesanditspartnerorganizationsareexpectedtofeed
customers and traffic to theUmmah Airwaysand utilize the airline's services
whenpossible,andwillactasadditionallowcostoutletsformarketingtheairline
through their planned electroniccommerce websites. Locally established retail
travelagencies canserve asabase for the airline's salesand operationsin the
keynichemarket.
2.1.
CompanyOwnership
Itisanticipatedthataportionofthe ownership(equity)willbe dividedinto

threeportions.
1.TheInvestors
2.TheboardofDirectors
3.ThefundmanagerholdingcompanyCIConsultants
Thenew airline operating company will be held byCI ConsultantsLtd,
through UK company, along with one or more strategic private investors.
Investment in the new airline operating company may be made directly in
theairlineoperatingcompanyorthroughinvestmentinCIHoldingsoritsU.K
company,CIConsultantsastheholdingcompanyfortheairline,withshares
apportioned according to the equity investment involved. However, as
previously stated, the majority ownership stake in the new airline must be
held by Muslims for the airline to qualify for OIC endorsements and public
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credibilityconsidered an essential element of the overall organizational

plan.CI Consultantsisprepared todiscuss andnegotiatespecific ownership
arrangements in detail with prospective investors. Equity requirements are
discussedintheStartupSummarythatfollows.
For planning purposes, any subsidiary airline companies established by the
parentairlineoperatingcompany,asdescribedintheprevioussection,shall
beconsideredtobewhollyownedsubsidiariesoftheparentairlineoperating
company,althoughindividualsubownershiparrangementsmaybe madein
individual cases of such subsidiary companies, particularly in cases where
localownershipinterestsmightberequiredbyprevailinglawinthecountries
inquestion.
CIConsultantsLtd,thecurrententityformulatingthisproposal,isaprivately
held corporation. As noted in the previous section, a new offshore holding
company,CIConsultantsHoldings Ltd.,willbe set up,withstockownership
in Ummah Airways transferring to the new entity. It is anticipated that
subsequentlyCI ConsultantsHoldings Ltd. will set up an U.K daughter
company which would then hold a share of the new airline, based on its
relativestakeintheairline.
2.2.
StartupSummary
Mostoftheplannedstartupcostsareapportionedtothefollowingsixareas,
inapproximatelydecliningvalue:
1.Dry leasingorpurchasing three(followedbytwomorebythe endof the
firstyearofoperations)midtolargesizeregionaljetaircraft,mostlikelythe
99seatBritishAerospaceAvroRJ100(ortheolderpredecessortotheRJ100,
theBAe 146,whichalsooffers aquickconvertpassengercargoversion),or
the 85 99seat Avro RJ85, or the nextgeneration followon versions of
thosetwoAvrojets,theRJX100orRJX85.
2. Provision of a sufficient cash reserve to assure timely payment of the
leasing or finance payments and operating costs of the aircraft through at
leastthefirstsixmonthsofoperations.
3. Marketing, advertising, and public relations costs, including costs of
setting up a website capable of offering flight and fare information and
makingonlinesalesandreservations,andrelatedInternetmarketing,aswell
as conventional print and broadcast advertising, and public relations
activities.
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4.Costsassociatedwithrecruiting,training,andcertifyingflightandground
operationalcrews.
5. A reserve to cover overall operating costs, aside from aircraft operating
costs,overatleastthefirstsixmonthsofoperations.
6.Administrativeandlegalcostsincurredinsettingupthebusinessandthe
airlineoperations.
Assumptions governing startup costs are shown in the following table and
chart.
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Startup
Requirements
StartupExpenses
Legalandconsulting
Routeandmarketstudy
Officesupplies,stationeryetc.
Brochuresandmarketingmaterials
Designconsultants
Corporateinsurance
Officerent
Softwareandsystemsdevelopment
Expensedequipmentandoff.furniture
Expensedvehicles(8)
Publicrelationsandadvertising
Crew,stafftrainingandmanuals
Other
TotalStartupExpenses
$200,000
$100,000
$10,000
$30,000
$60,000
$20,000
$50,000
$100,000
$150,000
$100,000
$80,000
$60,000
$30,000
$990,000
StartupAssets
CashRequired
StartupInventory
OtherCurrentAssets
LongtermAssets
TotalAssets
$100,000
$150,000
$50,000
$300,000
$600,000
TotalRequirements
$1,590,000
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StartupFunding
StartupExpensestoFund
StartupAssetstoFund
TotalFundingRequired
$990,000
$600,000
$1,590,000
Assets
NoncashAssetsfromStartup
CashRequirementsfromStartup
AdditionalCashRaised
CashBalanceonStartingDate
TotalAssets
$500,000
$100,000
$14,180,000
$14,280,000
$14,780,000
LiabilitiesandCapital
Liabilities
CurrentBorrowing
LongtermLiabilities
AccountsPayable(OutstandingBills)
OtherCurrentLiabilities
TotalLiabilities
$300,000
$750,000
$390,000
$30,000
$1,470,000
Capital
PlannedInvestment
Privateinvestment
GovernmentGrants
Other
AdditionalInvestmentRequirement
TotalPlannedInvestment
$10,800,000
$3,000,000
$500,000
$0
$14,300,000
LossatStartup(StartupExpenses)
TotalCapital
($990,000)
$13,310,000
TotalCapitalandLiabilities
$14,780,000
TotalFunding
$15,770,000
Startup
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3. Services
Asdemonstrated throughout this businessplan, it is clear that a strong growth
potential exists for the future, and the airline will gear itself toward sensible,
wellbasedgrowthandsolidfinancialandbusinessplanning.
Theproposednewairlinehasthepotentialtobecomeastrong,wellestablished,
andasthenumbersindicateextremelyprofitablecarrier,startingfromnow.
4. MarketAnalysisSummary
Economic growth and the requirements of redevelopment, not to mention the
impendingentryofseveralcountriesintheregiontotheOICUnion,arecreating
increaseddemandforairservicesbetweenthesecountries.
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Themarketcombinesavarietyofelementsallofwhichdemandahigherquality
ofairservicethanoftencurrentlyavailable:
1.Businesstravelersrequiringconvenience,reliability,speed,andschedulesbuilt
aroundbusinessneeds.
2. Government and international organization travelers, requiring the same
elements.
3. Personal and leisure travelers from the Asia/ MiddleEast/Africa region who
have the moneyto travelbyairandwho increasinglydemandahigherlevelof
serviceandconvenience,butataneconomicalcost.
4.The"Diaspora,"PersonalandleisuretravelersoriginallyfromtheOICregions,
but now living and working in sizable numbers in the countries of Middleeast,
WesternEuropeandUSA,withthesamedemands.
5.Muslim personal and leisure travelers, primarily traveling on the airline's
routesforHajjandUmrahpoints.
5. Seasonal (primarily summer, with some limited niche markets in the winter
period)holidaytravelers,primarilydestinedforholidaysintheMuslimcountries,
such aspilgrimageand the family packages. Cost, reliability, convenience, and
destinationaretheirconcerns.
Theproposednewairlinewillappealtoallthesedistinctgroupsbyofferingbetter
qualityservice(andinsomecases,offeringservicewherenonenowexists),ata
higher level of safety, comfort, and convenience, and at reasonable fares, than
currentlyavailable.Thenewairlinealsowillfocusonthenichemarketsidentified
inthe ServiceDescriptionsectionofthisplan,enablingittobetterserve andto
becomeidentifiedasthecarrierofchoiceforthosemarkets.
4.1.
MarketSegmentation
A complete market analysis and segmentation will require a specific

passengeranddestinationsurvey,thecostofwhichisincludedintheStart
upCostsfortheairline.Preliminaryanalysis(basedonavarietyofmethods,
including observation, interviews with travel and airlineindustry
professionals,economicsegmentation,futureprojectionsbasedonmarketing
plans, and experience with the region and market) for planning purposes,
however, indicates the following approximate market segmentation overall
(considerablevariations,ofcourse,wouldbeanticipateddependingonroute,
season,andotherfactors):
Business
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GovernmentandInternationalOrganizations
20%
RegionResidentPersonalandLeisureTravelers
15%
DiasporaPersonalandLeisureTravelers(imgrants)
20%
WesternEuropeanPersonalandLeisureTravelers
5%
Hajj&UmrahTravelers
25%*
*The seasonalHajj&Umrah(pilgrimagetoSaudiaandothersacredlands)
travel segment of the market to some degree distorts the overall market
percentages, but might initially be anticipated for two reasons: first, it
compensates for the drop in business and government travel that can be
expected during the peak summer holiday travel season second, a
significant portion of this traffic is likely to be carried on flights employing
speciallycharteredorwetleasedsupplementalaircraft.
TheaccompanyingMarketAnalysistableandchartbelowshowtotalpotential
marketsbasedonestimatedpopulationineachsegment,aswellaspotential
growth rates in air travel in the new airline's target market region within
those segments, but do not reflect the anticipated passenger demand from
those markets. Overallmakeup of the airline's anticipatedpassenger loads
bymarketsegmentarepresentedabove.
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MarketAnalysis
2006
Potential
Customers
RegRes
Pers&Leis
Business
Government
&IO
Hajj&
Umrah
Pers&Leis
Holiday
Trav
(seasonal)
WEurope
Pers&Leis
Other
Total
2007
2008
2009
2010
Growth
CAGR
20%
130,000,000 156,000,000 187,200,000 224,640,000 269,568,000 20.00%
15%
10%
5,000,000
1,500,000
5,750,000
1,650,000
6,612,500
1,815,000
7,604,375
1,996,500
8,745,031
2,196,150
15.00%
10.00%
10%
10,000,000
11,000,000
12,100,000
13,310,000
14,641,000
10.00%
10%
20,000,000
22,000,000
24,200,000
26,620,000
29,282,000
10.00%
5%
260,000,000 273,000,000 286,650,000 300,982,500 316,031,625 5.00%
20%
5,000,000
6,000,000
7,200,000
8,640,000
10,368,000 20.00%
10.82% 431,500,000 475,400,000 525,777,500 583,793,375 650,831,806 10.82%
MarketAnalysis(Pie)
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4.2.
UmmahAirways
ServiceBusinessAnalysis
TheoverallairlineindustryoperatingbetweenOICcountriesconsistsoffour
primarysegments:
1. Established mainlineAsian carriers (primarily Emirates, Saudia Airlines,
MalaysiaAirlines,Etihad,andothers)utilizingtheireasternroutesasspokes
connecting to main hubs in Asia (or Budapest Dubia, Jeddah,Kula Lumpur
and Jakartarespectively) and serving to feed traffic to their prime Cross
Asian, intraEuropean and transAtlantic routes (or domestic routes in the
caseoflargercountries).
2.Smaller,butgenerallywellestablishedregionalairlinesprimarilyfromFar
Eastern or themiddle easternstates (primarily primarily Emirates, Saudia
AirlinesandMalaysiaAirlines)that performessentiallythe samefunctionas
themainlinecarriersor,inthecaseofcarrierslikeEmirates,linkdestinations
inEastandthewesttotheirownnationalcapitals.
3.HomebasedEasterncarriers(suchas SuadiaAirlines)thatoftenoperate
ongoodwill,offeragenerallyaddedvaueofservice(thoughnotalwayslower
fares), and are often highly regarded, including by travelers from
SoutheasternAsia.TheseairlinesconnectpointswithinAsiaandMiddleeast,
or they may connect Asian destinations to major destinations in the West.
Thegoodwillexistthroughassociationandgovernmentlevelendorsements.
4. There also is a fourth segment worth noting, and that is the fairly
significant charter market that exists within certain niche or seasonal
markets. This market includes charter flights between thirdworld or
developing countries destinations, such asAfrica. These charters are often
operatedbyindividualtravel agenciesorairlines, andoften arecategorized
bya lowlevelofserviceandutilizationofolder,often Sovietbuilt,aircraft.
There also are the vacation charters that operate from Western Europe to
these regions such as Kenya, and the other holiday spots part of the
corporations extended services to the western customers (eg. Thompsons
Holidays).
Itisanticipatedthat theproposed new airlinewouldmost closely fitintoall
groupingabove, but would compete effectively withall four main segments
throughacombinationofahighlevelofsafetyandservice,carefullyselected
routes, nichemarket service, convenient schedules, reasonable and
competitive fares, and modern, safe, comfortable aircraft. It also will offer
serviceonunderservedand unservedrouteswherelittleorno competition
currentlyexists.
5. StrategyandImplementationSummary
The airline's strategy has already been adequately explained elsewhere in this
plan: target unserved and underserved markets, seek out niches and unmet
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demand, and offer a higher level of service and a higher standard than the
competition. The airline will utilize technology to reduce costs and offer better
service andgreaterconveniencetothepassenger.In thissection we'll examine
how the new airline will go about cutting out its niche through its marketing
strategy.
5.1.
MarketingStrategy
The proposed new airline intends to cut out new territory as it goes about
marketing itself. While it will clearly serve the target markets ofthe OIC
countries,itwilljustasclearlybeadifferentkindofplayeronthefield,and
willseektobeknownnotonlyasaMuslimairline,butatthecuttingedgeof
theaviationbusinessinAsia.
The airline's emphasis on the latest information and electronic technology,
anditsstressoncomfort,convenience,safetyandcustomerservice,willbe
cornerstonesonwhichthemarketingstrategywillbebuilt.
The airline will utilize a combination of methods to achieve the recognition
thatitbothdesiresandneeds.Afairlylargeadvertisingbudgetisplannedto
buythe spaceandtime togetitsnameandmessageinfrontofthe largest
possible group of potential customers that it can. Given the crowded field
ofEasternregionalairlines,itisbettertocomeonlikealionthanalamb,or
youmaybelostintheherd.
The airline will also utilize public and government relations to good
advantagetoextendandsupplementitsadvertisingbudget.
There are a number of "hooks," aside simply from its newness, that the
airlinecanutilizetogetthemedia'sattention.Theairlineisopeningupnew
markets,and italsoistranscending the technologicalbarrierwiththelatest
technology in the business in Muslim countries, or anywhere. It has big
ambitions, but knows that it needs to serve the customer first to realize
them.Anditwantstoknowandserveitsmarketsbetterthananyoneelse.
Everythingaboutthisairline,fromitsnametoitscolors,fromthelookofits
planestoitsairportkiosks,fromitssmartbutidentifiable personalisedcrew
uniformstoitsadvertisementsandliteratureshouldsetitapart.Anditcosts
little more to do things freshly and smartly than the more ordinary way of
doingthings.Anorganizationisnewonlyonceinitslife,sotheairlineshould
grab that opportunity and get all the attention it can at the outset. And it
needs to have both an adequate budget, as well as an outwardly directed
management,toachievethatend.Thenewairlinewillbecomeknownas
one where all the staff practice the motto, "Those who serve the
peoplearetheirleaders!"and"Leadingbyexample".
5.2.
SalesStrategy
Theairline's sales strategy will flow from its overall concept and marketing
approach. Mass marketing, but with a personal touch utilizing airline
employeesasspokesmenandwomentoexplainthat"Ihaveajobtodo,and
I do it everyday for you!", will aim to steer as many people as possible
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either to the airline's website, or to its telephonebased customerservice

representatives.Whileclientsarefree toutilizetheirowntravelagents,and
the airlinemayalsowant tobeaccessible throughgeneraltravel sites such
as Travelocity, the more customers that can be encouraged to use the
airline'sownreservationsandticketingservices,thelessrevenuewillhaveto
besharedintheformofexpensivecommissions.
Ereservations and eticketing, combined with echeckin, make the most
sense for any customers who have online access, and also for the airline
itself.But nonetheless,theairline mustnotlose sightof the fact that many
peopledonothaveaccesstotheInternet,ordonotcaretouseittoarrange
their travel, or perhaps just prefer a more personal touch, and so other
meansofaccessmustalwaysbereadilyavailable.
Theregionalandspecializedsalesandmarketingmanagers,as explainedin
the section on Personnel, will concentrate their effort on targeting specific
clients that have the potential to offer corporate or group travel (including
contractarrangements),orwhoarepotentialaircargocustomers.Theairline
willnothavetheresourcestofieldalargesalesteam,andsotheseregional
managersmusttargettheirefforts,andtheairlinemusteffectivelyutilizeits
mass marketing methods as well as the Internet to attract individual
travelers who, once they experience the new airline, hopefully will feel a
closeaffinitytowarditandwillbecomeloyalandhappycustomers.
5.2.1. SalesForecast
The following chart and table show the projected sales figures for
UmmahAirways.
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SalesMonthly
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SalesForecast
Sales
ScheduledPassengerRevenues
ScheduledCargoRevenues
Special
Flights
Passenger
Revenues
SpecialFlightsCargoRevenues
Packagetrips
Hajj&Umrah
Other
TotalSales
DirectCostofSales
Special
Flights
Passenger
Revenues
Packagetrips
HajjandUmrah
Other
SubtotalDirectCostofSales
5.3.
FY2007
FY2008
FY2009
$37,653,000
$2,282,000
$1,483,200
$88,642,656
$4,132,800
$2,013,600
$139,694,250
$5,473,300
$3,502,000
$34,560
$79,000
$0
$0
$41,531,760
$43,200
$270,000
$300,000
$20,000
$95,422,256
$72,000
$405,000
$650,000
$60,000
$149,856,550
FY2007
$1,995,120
$0
$85,680
FY2008
$4,309,920
$0
$104,340
FY2009
$5,989,354
$0
$167,300
$0
$31,600
$0
$0
$2,112,400
$5,000
$108,000
$150,000
$25,000
$4,702,260
$10,000
$162,000
$260,000
$40,000
$6,628,654
Milestones
The accompanying chart gives some notional milestones for setting up the
new airline, beginning recruitment, training, and operations, and also
reachingprofitabilityonamonthtomonthbasis.Thetimetableisambitious,
and it is meant to be. The time for action is now, and once a decision is
madetogoforwardtherewillbenotime,orresources,towaste.Ofcourse,
once a final plan, team, organization, and financing is in place, a more
refined timetable will be established and specific duties delegated to
responsibleteammembers.
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Milestones
Milestone
Establishafirmfinancialplan
StartDate
1/5/2006
EndDate
1/5/2006
Budget
$6,000
Identifyananchorinvestor
15/5/2006
15/5/2006
$2,000
leasing 1/6/2006
1/6/2006
$6,000
5/6/2006
5/6/2006
$1,000
Beginnegotiatingforoffices
5/6/2006
5/6/2006
$500
Selectcoremngmntteam
10/6/2006
10/6/2006
$500
Commenceco.operations
15/6/2006
15/6/2006
$1,500
Makeinitialaircraftleasepymnt 30/6/2006
30/6/2006
$3,000
Beginhiringkeypersonnel
1/7/2006
1/7/2006
$10,000
Begincrewtraining
1/8/2006
1/8/2006
$50,000
Takedeliveryofaircraft
15/8/2006
15/8/2006
$30,000
Begininauguralflights
5/9/2006
5/9/2006
$15,000
Operationturnsprofitable
1/1/2007
1/1/2007
$60,000
Takedeliveryoffourthaircraft
15/4/2007
15/4/2007
$10,000
Commence
negotiations
Setupnewcompany
Totals
Manager
Syed
Masrur
Marlina
Wong
Marlina
Wong
Syed
Masrur
Marlina
Wong
Syed
Masrur
Syed
Masrur
Marlina
Wong
Syed
Masrur
Out
Sourced
Marlina
Wong
Marlina
Wong
Syed
Masrur
Marlina
Wong
Department
CIConsultants
CIConsultants
CIConsultants
CIConsultants
CIConsultants
CIConsultants
CIConsultants
CIConsultants
CIConsultants
OutSourced
CIConsultants
CIConsultants
CIConsultants
CIConsultants
$195,500
6. ManagementSummary
UmmahAirwaysis putting togetherwhat it expects will be a solidmanagement
team combining extensive aviation industry experience with significant
experience in finance, accountancy,and management. Aninitial project team is
inplace.Asmoreadvancedplanningcontinuesontheairlineandinvestmentisin
place,the fullcoremanagementteamwillbe finalizedanditsmembersbrought
onboard.
More than in most businesses, management is critically important to an airline,
andespeciallyanairlineenvisagedasthisoneis.Toreiterateapointmadeearly
inthisplan,therightmanagementteamisseenasthefirstandforemostkeyto
thesuccessoftheoverallventure.Weendeavortohavesuchateam.
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6.1.
UmmahAirways
PersonnelPlan
Alongwithaircraftacquisitionandoperatingcosts,personnelcostsrepresent
oneofthetwolargestcostfactorsfacedbythenewairline.Additionally,the
airline's personnel will largely determine the success of the venture.
Therefore, it is crucially important to develop and implement an effective
personneloperationsandcompensationplan.
The Personnel Plan for the new airline reflects the stress on the use of
technology to reduce staffing and costs, and the concomitant stress on
customer service. Consequently, staffing is heavier (withindividual function
directors) in such areas as information technology and oversight of such
functionsashuman resources, flight safety,flight maintenance,andground
operationsthanmight otherwisebe thecasewithasmallerregionalairline.
Ontheotherhand,functionssuchassalesandmarketing,bookkeepingand
finance,andpersonnelmanagementarereduced,withtheassumptionbeing
that the effective use of advanced, costefficient informational technologies
in these areas will makeup for the reduced staffing, resultingin significant
costsavingswhileprovidingsuperiorresultsatlesseffort.
Itis assumed,basedonthe experienceof otherregionalairlinesinEurope,
that something on the order of 6070 percent of all reservations and
bookings will be made electronically, and such passengers will be ticketed
andcheckedinelectronicallyusingspecialelectroniccheckinkioskssuchas
thoseemployedsuccessfullybythe U.S.carrierContinentalAirlines,leading
tomajorcostsavingsinareassuchassales,reservations,andgroundcheck
instaffing,aswellasincommissionspaidouttooutsidetravelagencies.
Staffing in the sales and marketing area is aimed at targeted customer
contact to generate corporate and group business, rather than individual
sales, and to develop special marketing programs designed to generate
significant increases in both passenger and cargo business. Responsibilities
will be divided along both regional and functional lines, with three regional
sales and marketing managers (notionally responsible for Western Europe
andUSA,MiddleEast,andAsia&Africa)andtwotargeted,globalsalesand
marketing managers (one responsible for special sales aimed specificallyat
the peak traffic/special flights/holiday travel/charters market, the other for
aircargosales),reportingtoonedirectorofsalesandmarketing.Additional
personnel will answer customer inquiries and take reservations on the
telephone atcentralheadquarters,withphonecalls forwardedtothemfrom
throughouttheairlinemarketarea,andalsowillrespondtoemail/website
forwardedinquiries.
All keyfunctionalpositions throughoutthe airline,includinginthesalesand
marketing area, are backed up by professional support personnel, most of
whom will be crosstrained in different areas, so there will always be
coverage of all key functional areas as well as backup support when work
demandrequiresit.
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In the groundservice area, the airline will utilize its own personnel to the
extentpracticalinordertoassureamoreconsistentlypositiveexperiencefor
the passenger. All major destinations will be staffed by airline personnel,
whileatsomesmallerandmoreremotedestinations,orwherelocalpractice
or requirement dictates it, ground handling and service may be contracted
outtolocalserviceproviders.
Eveninsuchcases,effortswillbemadetoutilizespareflightcrewpersonnel
toassistwithoversight ofground services and respond to customer needs,
againstressingtheairline'sfocusoncrosstraining.Finally,asrevenuesand
passengerdemandincreases,thePersonnelPlancanbeexpandedtoprovide
additional ground service personnel at key locations and to expand the
number of locations where the airline provides its own groundservice
staffing.
Again through the use of eticketing, echeckin, and ebaggage tracking,
groundservicestaffingrequirementwillbevery lightcomparedwithamore
traditionalorganization.Particularly giventhefairly light flight schedulingat
most locations and the convenient size of the projected aircraft, checkins
shouldbequickandeasy,withlittlewaitinginlineorfightingwithcrowds
majormarketingadvantagesaswell.
Giventheairline'smotto,"Wehaveajobtodo,andwedoiteverydayfor
you!", crosstrainingand crossfunctioningwillbe core elementsof thenew
airline's personnelmanagement approach. Everyone will be inculcated with
the spirit that she orheis personally responsible for thepassengerand the
client having a positive experience when in contact with the new airline.
Everyone,fromthepresidentondown,willbe familiarwith(andparticipate
in) virtually every aspect of the work and customerservice process (a
method employed successfully by the former PEOPLExpress and other
"peopleoriented"carriersandothersuccessfulservicebusinesses).Whileno
one will expect (nor want) a receptionist to fly the airplane, nor a sales
manager to perform engine repairs, nor for that matter a pilot or flight
attendant to tend to the bookkeeping, common customerservice functions
like checkin, gate monitoring, baggage handling, and answering customer
inquiries can and should be performed from time to time by any and all
available personnel. This process also requires, however, that personnel
receiveactualtrainingandexperienceinthesevariousareas,sotheydonot
becomemoreofahindrancethanahelp.
Even the airline's uniforms will project an image ofMuslim
professionalpeople doing extraordinary work to please and make the
passenger feel comfortable. There will be a stress on informality, utilizing
"Islamic and practical uniform" uniforms to again stress the airline's work
ethicandcustomerserviceorientation,makingbothemployeeandclientfeel
more at home. This approach also is in keeping with today's trend toward
greaterinformalityandequalityintheworkplace,andawayfromthestilted
authoritarianwayofthepast.
Finally, the proposed hierarchy and salary structure is designed to be both
economical as well as sufficiently attractive and competitive to enable the
airlinetorecruitgood,qualifiedpersonnel.Atthesametime,inkeepingwith
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the overall ambience of the airline, it also stresses relative equality and
fairness in its structure. A good benefits package, consistent with, and
perhapsbetterthan,availableelsewhereintheindustryorrelatedindustries,
and the more abstract benefits of being part of a wellrespected, well
functioning,professional,winningteam,alsowillbeelementsattractinggood
employeestothenewairlineandkeepingthemontheteam.
There are only about 10paygrades provided for in the salary plan for the
entire airline, including executivelevel salaries, with jobs that may be
markedly different in terms of function, but similar in terms of experience
required,difficulty,andimportance,sharingthesamepaygrade.
Most subordinate grades within given functions are based on a set
percentage of higherlevel salaries within the same general function. In
addition,theplanforpayincreasesisstraightforwardandfostersclarityand
understanding, rather than anxiety and unhealthy competition, among
employees.
Everyone, across the board, from top to bottom in the organization, who
performs satisfactorily will receive a 10 percent pay increase at the end of
the first year of service (deemed tobe the most difficult),and a5 percent
pay increase at the end of each subsequent year of service (with
adjustmentsmadeonlyonthebasisofspecificacrosstheboardorlocalized
issueslikeinflation,currencydevaluations,andsoforth).
Unsatisfactory performance merits only one of two remedies: Dismissal, or
placementonalimitedprobationaryregimetodetermineifproblemscanbe
remediedandtheemployeebroughtuptostandardwithinagiventimelimit.
Otherwise,thereisnoroom,andnocause,forprotractedanxietyonthepart
ofthesatisfactoryemployeeconcerningsuchissuesaspayraisesandrelated
issues. The only other issue is the possibility of promotion to a higher
positionwithintheorganization,andtheairlinewillendeavortopromoteits
bestfromwithinwheneverpossible.
One other issue worth considering, though it is not included in the current
plan, is the possibility of offering a bonus to all employees, as a specific
percentageoftheirpay,whentheairlineshowsaparticularlyprofitableyear
toencourageadditional"prideofownership"andespritdecorps.
A summary Personnel Plan for the first three years of operations follows in
thetablebelow,andadetailedmonthlyplanfortheinitialyearisprovidedin
theappendix.
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PersonnelPlan
Captains(3peraircraft)
FirstOfficers(3peraircraft)
FlightAttendants(9peraircraft)
Other
Other
DirectorofSales&Marketing
RegionalSales&MarketingMgrs(3)
SpecialSales&MarketingManager
AirCargoSales&MarketingManager
Sales&MarketingAssistants(6)
Cust.Service/ReservationsAssts(12)
Other
President&CEO
VicePresident&GeneralManager
VicePresidentCommercial
VicePresidentFinance
VicePresidentOperations
Other
DirectorofCommunications
DirectorofHumanResources
DirectorofFlightSafety
DirectorofFlightMaintenance
DirectorofGroundOperations
DirectorofInformationSystems
StationManagers(1permajorstation)
GroundServicePers(3permajstation)
MaintenanceEngineers(8)
Bookkeeping&FinancePersonnel(3)
InformationSystemsPersonnel(5)
ProfessionalSupportPersonnel(3)
Secretarial/AdminAsstPersonnel(3)
CustomerRelationsPersonnel(2)
Other
TotalPeople
FY2007
$585,000
$468,000
$526,500
$59,062
$0
$60,000
$132,000
$40,000
$40,000
$97,500
$108,000
$0
$180,000
$144,000
$126,000
$126,000
$126,000
$0
$54,000
$54,000
$54,000
$54,000
$54,000
$54,000
$140,000
$315,000
$200,000
$64,000
$120,000
$68,000
$51,000
$40,000
$0
30
FY2008
$1,018,500
$814,800
$916,650
$557,794
$0
$66,000
$157,200
$52,400
$52,400
$117,600
$141,000
$0
$198,000
$158,400
$115,500
$115,500
$115,500
$0
$59,400
$59,400
$59,400
$59,400
$59,400
$59,400
$374,000
$837,925
$260,000
$78,400
$132,000
$78,800
$59,100
$52,000
$0
50
FY2009
$1,448,175
$1,158,540
$1,303,360
$856,370
$0
$69,300
$165,720
$55,240
$55,240
$124,515
$149,700
$0
$207,900
$166,320
$121,275
$121,275
$121,275
$0
$62,370
$62,370
$62,370
$62,370
$62,370
$62,370
$404,200
$909,450
$275,200
$81,920
$138,600
$82,960
$62,220
$55,040
$0
70
TotalPayroll
$4,140,062
$6,825,869
$8,508,015
7. FinancialPlan
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This section of the plan offers the core elements for evaluating the financial
viabilityoftheproposednewairline.Bothintextandinchartsandtables,allthe
key elements are presented to offer a frank appraisal of the venture and the
opportunityitpresents.
Of particular importance is the following section which presents the key
"Important Assumptions" on the core cost and revenue aspects of the airline.
TheseassumptionsarebasedoncostfactorsinvolvingtheproposedAvroRJ100
aircraft,andassumedryleasingofnewaircraft(acomparisonisalsogivenfora
purchase option, although that option, as will be apparent from the numbers,
demands a much larger upfront cash outlay, and does not necessarily lead to
economiesofoperation,particularlyintheshortrun).
Amongtheassumptionsmadewerethattheairlinewillbeginoperatingwithjust
three99passengerregionaljets,withverylowloadfactors,beneath25percent
of capacity, and at fare levels that in all likelihood are lower than reasonably
expectedontheplannedroutenetwork.Theseassumptionsweretakentoensure
aconservativeapproachtothefinancialplanning,andtodemonstratethateven
withthese constraints theproposedairlinecanbeprofitableasearlyasthefirst
yearofoperations.
Italsowasassumedthattheaircraftwillreceivemaximumutilization,uptosix,
seven, or more segments per day. A "wave" or "W" route pattern, and
reciprocating or circular routes, was assumed, rather than simply a spokeand
hubroutepattern,toenableservicetomoredestinationsandtomaximizeuseof
the aircraft. A major feature of theroute planninghas been to enable business
travelers togoandcomebackfromdestinationsgenerallyinthesameday,and
certainly in the same week. Crew requirements and hour restrictions also were
consideredintheplanning.
Again,itshouldbestressedthatevenwiththeconsiderableconstraintsemployed
in the calculations, the airline can be expected to carry upwards of 300,000
passengersinitsfirstyear,andpossiblyuptoahalfamillionpassengers,andto
reach profitability within the first year of operations, with significant growth in
bothrevenuesandcashgeneratedthereafter.
TheImportant Assumptions sectionalso includes informationon the thirdprong
oftheproposed marketingstrategy,whichis toemploywetleasedorchartered
aircraft to serve highdemand regional, seasonal, and peaktraffic markets as a
supplement to the regular scheduled service of the airline. A conservative
approach also was taken with this segment, and again it was shown to be a
profitableareatopursue,althoughrelativelymodestparticularlyattheoutsetin
termsofoverallrevenues.
It is strongly suggested that the Important Assumptions section be reviewed

carefullypriortomoreindepthexaminationofthefinancialssinceitexplainsthe
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premises on which the financials are based. It also should be noted that the
aircraftcostingsectionisbasedonasegmentapproach,withaircraftacquisition,
operating and crew costs, and some direct sales costs, as well as revenues,
apportioned on a "segment" basis. Note that some elements that go into the
segmentcostingarebasedonhourlycosts,extrapolatedtothesegmentlength,
and others are strictly on a "per segment" basis. The number of aircraft
employedare statedatthe top,ona"fulltimeequivalent"(FTE)basis,allowing
for variance in fleet size during the year as new aircraft are brought into the
fleet.
7.1.
ImportantAssumptions
In addition to the general financial andbusiness assumptions presented in

the following table, the key parameters presented on the next page also
wereincludedasOperatingAssumptionsinformulatingthefinancialportions
ofthisbusinessplan.
Every effort was madeto be realistic inthese Assumptions,andif anything
they were formulated conservatively, particularly in calculating initial load
factorsand revenue yieldswhich, inpractice,shouldbeconsiderably higher
than offered here. Additionally, passenger and cargo fares were considered
tobeflatover the entireperiod coveredbythis plan tocompensate for the
possibility that additional competition could force fares to remain relatively
constantovertheperiod.However,theobjectiveofthisexercisewastoshow
thattheproposedoperationwillbeprofitableevenwithmuchlowerrevenues
than would normally be expected, and the numbers do in fact confirm a
profitableoutcome.
Additionally, expected net revenues from offering peakdemand special
flightsalsoarecalculated.Theyaresetapartseparatelyfromthescheduled
service revenues to show that both types of service and particularly the
more important scheduled service are viable and the airline will be
profitableevenwithouttheseadditionalrevenues.
TheassumptionsutilizedherearebasedondryleasingnewAvroRJ100sata
highlevelofoutfittingandwithnecessarysparesincluded.Aseparatesetof
figuresisprovidedfollowingtheOperatingAssumptionssectionwhichgivesa
cost comparison should thedecisionbe made topurchase theaircraft new,
utilizing ECGD export financing for 85 percent of the purchase price of the
aircraft.
Operating
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FY2004
FY2005
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Assumptions
Aircraftin
service(FTE)
2.83
5.33
7.33
Aircraftin
serviceatend
ofFY
Costper
aircraftif
purchased
$26,000,00
0
$26,000,00
0
$26,000,000
Annualleasing
costperaircraft
$3,120,000
$3,120,000
$3,120,000
Insurancerate
%ofaircraft
cost
1.5%
1.5%
1.5%
Annual
insurancecost
peraircraft
$390,000
$390,000
$390,000
Captain's
AnnualSalary
$60,000
$66,000
$69,300
FirstOfficer's
Salary%of
Captain
80%
80%
80%
Flight
Attendant's
Salary%of
Capt
30%
30%
30%
20%
20%
20%
SalaryBurden
aspercentof
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Salary
Crewmembers
perflight
Flght
2/Cab3
Flght
2/Cab3
Flght2/Cab
3
Crew
contingentsper
aircraft
Totalcrewper
aircraft(min.)
Flght
6/Cab9
Flght
6/Cab9
Flght6/Cab
9
Flight
Hours/Month
forCrew
80
80
80
AverageTotal
Salary
Cost/Hour
$202.50
$222.75
$233.89
Totalaircraft
maint.
cost/hour
$800
$800
$800
Fuelburn
kg/hour
2,100
2,100
2,100
Fuelcostperkg
$.35
$.35
$.35
Handling
cost/segment
(ave.)
$360
$400
$440
ATC
cost/segment
(ave.)
$120
$130
$140
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Land/depart
chargeperseg.
(ave.)
$150
$180
$210
Parking
fee/aircraft/nig
ht
$150
$170
$190
Inflight
items/pax
Value
$6
$7
$8
Inflight
items/pax
Premium
$8
$9
$10
Percent/revenu
es
commissionable
40%
35%
30%
Commission
payable
9%
9%
9%
Ave.
reservations
cost/pax/seg
$2
$2
$2
Average
segment
(hours)
1.25
1.30
1.35
Annual
segments
6,520
11,808
15,638
Ave.total
capacity/segme
nt(pax)
99
99
99
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Ave.Annual
LoadFactor
(%)
50%
65%
75%
Ave.split
Value/Premier
79/20
79/20
79/20
Averagefare
perValue
pax/seg.
$110
$110
$110
Averagefare
perPremier
pax/seg.
$143
$143
$143
Cargoper
segment(kgs)
700
700
700
Ave.cargo
tariffper
segment/kg.
$.50
$.50
$.50
Ave.cargo
tariffper
segment
$350
$350
$350
Averagepax
revenues/segm
ent
$5,775
$7,507
$8,933
Averagecargo
revenues/seg.
$350
$350
$350
Totalave.
revenues/segm
ent
$6,125
$7,857
$9,283
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Totalave.
costs/segment
$4,972
$5,449
$5,741
Totalave.net
yield/segment
$1,153
$2,408
$3,542
Total
revenues/year
$39,935,00
0
$92,775,45
6
$145,167,55
0
Totaloperating
costs/year
$32,417,44
0
$64,341,79
2
$89,777,758
Totalnetoper.
revenues/year
$7,517,560
$28,433,66
4
$55,389,792
Peakdemand special flights on key regional/seasonal/intermittent

routes
Thefiguresprovidedinthissectionrepresenta"bestestimate"calculationof
the costs and revenues expected to be derived from special peakdemand
flights on key regional, seasonal, and intermittent routes. These figures,
whichalsowereapproachedconservatively,though realistically, supplement
the figures derived from the assumptions concerning regular scheduled
service.
Thefollowingassumptionswereappliedforthesespecialflights:
FY2003
FY2004
FY2005
FlightSegments
48
60
100
Averagelength
ofsegment(hrs)
4.0
4.0
4.0
Ave.wetleasing
costof
aircraft/hr.
$4,000
$4,000
$4,000
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Ave.costper
flightsegment
$16,000
$16,000
$16,000
Handling
cost/segment
(ave.)
$360
$400
$440
ATC
cost/segment
(ave.)
$120
$130
$140
Land/depart
chargeperseg.
(ave.)
$150
$180
$210
Parking
fee/aircraft/night
$150
$170
$190
Inflight
items/pax
Value
$12
$14
$16
Inflight
items/pax
Premium
$16
$18
$20
Percent/revenues
commissionable
50%
45%
40%
Commission
payable
10%
10%
10%
Ave.reservations
cost/pax/seg
$2
$2
$2
160
160
160
Ave.total
capacity/segmen
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t(pax)
Ave.annualload
factor(%)
75%
80%
85%
Ave.split
Value/Premier
90/10
90/10
90/10
Averagefareper
Valuepax/seg
$250
$250
$250
Averagefareper
Premierpax/seg
$325
$325
$325
Cargoper
segment(kgs)
600
600
600
Ave.cargotariff
persegment/kg.
$1.20
$1.20
$1.20
Ave.cargotariff
persegment
$720
$720
$720
Averagepax
revenues/segme
nt
$30,900
$33,560
$35,020
Averagecargo
revenues/segm.
$720
$720
$720
Totalave.
revenues/segme
nt
$31,620
$34,280
$35,740
Totalave.
costs/segment
$20,053
$20,462
$20,883
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Totalave.net
yield/segment
$11,567
$13,818
$14,857
Total
revenues/year
$1,517,76
0
$2,056,80
0
$3,574,00
0
Totalcosts/year
$962,544
$1,227,72
0
$2,088,30
0
Totalnet
revenues/year
$555,216
$829,080
$1,485,70
0
Aircraftcostonapurchasebasis
Ifadecisionis madetopurchasetheaircraftforthenewairlineratherthan
dry leasing them, then a considerably larger cash outlay will be required,
evenwithexportfinancingguaranteesfromtheECGD.Forinstance,hereisa
notional cost projection based on five new Avro RJ100s, well fitted with
passenger amenities as well as the most uptodate communication and
navigationgear:
Costperaircraft
$26,000,000
Totalcost,fiveaircraft
$130,000,000
Financing to be provided by
Export Credit Guarantee
DepartmentoftheUK
85%
Interestrate
7.5%
Insurance
1.5% on value of
theaircraft
Cash outlay required for

downpayment
15%,
$19,500,000
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Amounttobefinanced
$110,500,000
Insurance,peryear
$1,950,000
Depreciation
chargeable
against revenues per year
for10years
$13,000,000
Annual payments on five

aircraft based on 120
payments(10yrs)
Approx.
$12,000,000
Total cost of aircraft w/

paymentsandinterest
$163,500,000
Residualvalueafter10years
Approx.
$65,000,000
Totalrealcostoffiveaircraft
assuming sale at end of 10
years
Approx.
$98,500,000
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Based on these figures, comparative persegment costs in the following

yearsareshown:
FY2003
FY2004
FY2005
Segments
peryearper
aircraft
2,303
2,215
2,133
Total
segments
11,519
11,076
10,665
Total
cost
for
down
payment
$19,500,00
$0
$0
Total
cost
for
insurance
peryear
$1,950,000
$1,950,000
$1,950,000
Total
cost
for
payments/y
ear
$12,000,000
$12,000,000
$12,000,000
Total
cost
year
$33,450,000
$13,950,000
$13,950,000
$2,904
$1,259
$1,308
Aircraft
service
(FTE)
in
raw
per
Total
raw
cost
per
segment
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Cost
per
segment w/
depreciation
$4,032
$2,433
$2,527
Cost/seg/yr
w/ depr &
recovvalue
$3,416
$1,846
$1,917
Comparative
cost for five
aircraft dry
leased
w/
insurance/y
ear
$17,550,000
$17,550,000
$17,550,000
Cost
per
segment as
above
for
dryleased
aircraft
$1,524
$1,585
$1,646
This comparisonobviouslydoesnot examine thepossibletax consequences

and other factors in considering the comparative cost of dry leasing versus
purchasing,butitdoesdemonstratethatlowershortrangeacquisitioncosts
result inan immediate lower segment cost for the aircraft as well as lower
upfrontcashrequirements.
GeneralAssumptions
PlanMonth
CurrentInterestRate
LongtermInterestRate
TaxRate
Other
CIConsultantsLtd
FY2007
1
9.00%
7.50%
34.58%
0
FY2008
2
9.00%
7.50%
35.00%
0
FY2009
3
9.00%
7.50%
34.58%
0
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7.2.
BreakevenAnalysis
As the accompanying chart demonstrates, the breakeven point comesat a

relatively modest monthly passenger load, under 22,000 passengers per
month,whichrepresentsanaveragepassengerloadfactorofonlyabout40
percent witha fleetofthreeRJ100s operatingabout sixsegments eachper
day. It is anticipated that this load will be reached fairly early in the new
airline's life and, in practice, much higher loads into the 65 75 percent
range during the first year of operations can beanticipated based on the
overallbusinessandmarketingplansfortheairline.
BreakevenAnalysis
BreakevenAnalysis
MonthlyRevenueBreakeven
$506,878
Assumptions:
AveragePercentVariableCost
EstimatedMonthlyFixedCost
5%
$481,097
7.3.
ProjectedProfitandLoss
As the accompanying Profit and Loss chart clearly demonstrates, the

proposed airline has the potential to achieve profitability, on a monthby
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month basis, by as early as the third month of operations, and to end the
first year comfortably in the black an indication of the strength of the
market and the marketing plan for the venture, given the conservative
naturewithwhichthenumberswerecalculated.
All cost items are covered in this Profit and Loss chart and, while the
organization and salary and cost items presented are not lavish, they both
cover the needed functions adequately and also allow some margin for
movement.Giventhebusinessplan'sstressonutilizingtechnologytocontrol
staffing and related support and marketing costs big problems for many
airlinestheplanpresentedhereshouldenablethisairlinetoaccomplishfar
more with less, and simultaneously to present less of a "commandand
control"problemtothemanagementteam.
All flight and cabin crew salaries are included in the line designated
"Operational" in the top section of the chart, with all nonsalary aircraft
operational costs included in the same section. All revenues, which derive
almost entirely from airline operations (both scheduled and special flights)
arealsoprovidedinthetoparea,alongwithadeductionforthedirectcostof
sales,suchasreservationsfeesandcommissions(anareathathopefullycan
be reduced even further through ereservations and eticketing, though it
probablycannotbeeliminatedaltogether.Clearlytheaffectofthesecharges
on the bottom line can be seen in this chart, even figuring that 60percent
andmoreofairlineclientswillutilizeelectronicmeansforticketing).Therest
of the chart is broken down by functional area, outside of direct flight
operations(whichalsoincludeaircraftacquisitioncosts).
Finally, it is worth noting that a netoperating profit of more than 2 million
USD(onan equityinvestment ofunder 11 millionUSD)is projected for the
firstyear,withanetprofitofmorethan3percent.Profitsinthesecondand
thirdyearsshowsubstantialgrowth,withacombinednetprofitinexcessof
40 million USDprojected for the third and fourth years, even given the
limitedsizeofthefleet(uptoninemidsizedjetsbytheendofthethirdyear
ofoperations)projectedfortheairline.
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ProFormaProfitandLoss
TotalIncome
CostofGoodsSold
FY2007
$41,531,760
$2,112,400
FY2008
$95,422,256
$4,702,260
FY2009
$149,856,550
$6,628,654
GrossProfit
GrossProfit%
$39,419,360
94.91%
$90,719,996
95.07%
$143,227,896
95.58%
TotalExpense
$4,140,062
$39,793
$71,757
$24,000
$32,600
$15,300
$10,000
$220,000
$98,000
$8,640
$56,000
$185,000
$44,000
$828,012
$0
$5,773,164
$6,825,869
$45,000
$110,000
$30,000
$48,900
$18,000
$30,000
$220,000
$180,000
$8,640
$80,000
$150,000
$88,000
$1,365,174
$0
$9,199,583
$8,508,015
$50,000
$120,000
$36,000
$73,350
$22,000
$35,000
$242,000
$198,000
$9,500
$120,000
$165,000
$95,000
$1,701,603
$0
$11,375,468
GrossProfit
$33,646,196
$81,520,413
$131,852,428
OtherIncome
InterestIncome
ExtraordinaryItems
TotalOtherIncome
$13,264
$20,000
$33,264
$15,000
$25,000
$40,000
$20,000
$30,000
$50,000
OtherExpense
AccountName
ExtraordinaryItems
TotalOtherExpense
$30,000
$10,000
$40,000
$33,000
$16,000
$49,000
$37,000
$20,000
$57,000
NetOtherIncome
NetProfit
NetProfit/Sales
($6,736)
$33,639,460
81.00%
($9,000)
$81,409,788
85.32%
($7,000)
$131,705,178
87.89%
Expenses
Payroll
SalesandMarketingandOtherExpenses
Depreciation
LeasedEquipment
Telephone
Utilities
Insurance(NonAviation)
HeadquartersOfficeRent
FieldOfficeRental
VehicleOperatingExpenses
ComputerHardware/SoftwareDevlpmnt
Cockpit/CabinCrewTraining/Simulator
Crew/StaffUniforms&Grooming
PayrollTaxes
OtherGeneralandAdministrativeExpenses
7.4.
ProjectedCashFlow
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Cashflowisprobablythefactorthatmakesorbreaksmorebusinesses than
any other, and it is even more critical to consider in a venture as capital
intensiveasisanairline.
Astheaccompanyingchartandtablereadilyshow,withcarefulplanningand
controlofresourcesandexpenses,cashflowcrisesshouldnotposeathreat
to the new airline. Even allowing for a 2 million USDup front deposit on
aircraftleases(whichwouldbechargedagainstoperationalexpensesas the
airline begins flying) and other significant upfront costs, as shown in the
accompanying illustrations, at no time does cash onhand become a major
issueduringthefirstyear,andevenlesssointhefollowonyears.
While an investment of about 11 million USDis modest by regional airline
standards,thefinancialandbusinessplanningdonehereshouldindicatethat
the venture is quite feasible in the market. Nevertheless, it would offer an
extracushionofsafetytoarrangeforavailabilityofadditionalcreditfacilities
orcashreserves,orequityinvestment,tobecalleduponlyasneededinthe
shortrunshouldcashdemandsoutstrapexpectations,immediaterevenues,
andonhandcashonatemporarybasis.
It should be noted that a 30day accounts payable repayment schedule is
included in the planning for the financials. However, a majority of the
airline's revenueswill come fromonline sales,withpayment bycredit cards
and generally rapid settlement, and also from ticket sales from travel
agencies that are required to make payments usually in half the accounts
payable schedule used in the assumptions for this plan. Given the large
fluxesofcash,eventhesepaymentmethodsallowforsignificantamountsof
fundstobereceivableatanygiventimebut,again,thefinancialcalculations
indicatethatthis shouldposenosignificantproblemtotheairline's financial
managementorcashliquidity.
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Cash
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ProFormaCashFlow
FY2007
FY2008
FY2009
CashfromOperations
CashSales
SubtotalCashfromOperations
$41,531,760
$41,531,760
$95,422,256
$95,422,256
$149,856,550
$149,856,550
AdditionalCashReceived
NonOperating(Other)Income
SalesTax,VAT,HST/GSTReceived
NewCurrentBorrowing
NewOtherLiabilities(interestfree)
NewLongtermLiabilities
SalesofOtherCurrentAssets
SalesofLongtermAssets
NewInvestmentReceived
SubtotalCashReceived
$33,264
$0
$250,000
$200,000
$500,000
$150,000
$150,000
$5,000,000
$47,815,024
$40,000
$0
$300,000
$250,000
$600,000
$200,000
$200,000
$8,000,000
$105,012,256
$50,000
$0
$350,000
$300,000
$800,000
$250,000
$250,000
$10,000,000
$161,856,550
Expenditures
FY2007
FY2008
FY2009
ExpendituresfromOperations
Cashspending
BillPayments
SubtotalSpentonOperations
$4,140,062
$3,806,479
$7,946,541
$6,825,869
$4,332,820
$11,158,689
$8,508,015
$10,714,786
$19,222,801
AdditionalCashSpent
NonOperating(Other)Expense
SalesTax,VAT,HST/GSTPaidOut
PrincipalRepaymentofCurrentBorrowing
OtherLiabilitiesPrincipalRepayment
LongtermLiabilitiesPrincipalRepayment
PurchaseOtherCurrentAssets
PurchaseLongtermAssets
Dividends
SubtotalCashSpent
$40,000
$265,285
$188,100
$142,000
$120,000
$40,000
$500,000
$650,000
$9,891,926
$49,000
$335,865
$205,200
$220,000
$150,000
$60,000
$650,000
$1,000,000
$13,828,754
$57,000
$456,789
$205,200
$310,000
$220,000
$80,000
$750,000
$1,500,000
$22,801,790
NetCashFlow
CashBalance
$37,923,098
$52,203,098
$91,183,502
$143,386,599
$139,054,760
$282,441,360
CashReceived
7.5.
ProjectedBalanceSheet
CIConsultantsLtd
Copyright2006
Page48
Businessplan3.0
UmmahAirways
As the accompanying Balance Sheet indicates, the proposed venture will

maintain a healthy position, even with limited hard assets other than cash
and leased aircraft, and the company's net worth is projected to grow
beginning from the end of the first year from about 11 million USDto 25
million USDby the end of the second year, and to more than 55 million
USDby the endof thethirdyear,with continued growthatabout the same
remarkableratebeyondthat.
CIConsultantsLtd
Copyright2006
Page49
UmmahAirways
Businessplan3.0
ProFormaBalanceSheet
FY2007
FY2008
FY2009
CurrentAssets
Cash
Inventory
OtherCurrentAssets
TotalCurrentAssets
$52,203,098
$364,453
($60,000)
$52,507,551
$143,386,599
$811,283
($200,000)
$143,997,882
$282,441,360
$1,143,644
($370,000)
$283,215,004
LongtermAssets
LongtermAssets
AccumulatedDepreciation
TotalLongtermAssets
TotalAssets
$650,000
$71,757
$578,243
$53,085,794
$1,100,000
$181,757
$918,243
$144,916,125
$1,600,000
$301,757
$1,298,243
$284,513,247
LiabilitiesandCapital
FY2007
FY2008
FY2009
CurrentLiabilities
AccountsPayable
CurrentBorrowing
OtherCurrentLiabilities
SubtotalCurrentLiabilities
$471,719
$361,900
($177,285)
$656,334
$3,653,327
$456,700
($483,150)
$3,626,877
$2,787,260
$601,500
($949,939)
$2,438,820
LongtermLiabilities
TotalLiabilities
$1,130,000
$1,786,334
$1,580,000
$5,206,877
$2,160,000
$4,598,820
PaidinCapital
RetainedEarnings
Earnings
TotalCapital
TotalLiabilitiesandCapital
$19,300,000
($1,640,000)
$33,639,460
$51,299,460
$53,085,794
$27,300,000
$30,999,460
$81,409,788
$139,709,248
$144,916,125
$37,300,000
$110,909,248
$131,705,178
$279,914,426
$284,513,247
NetWorth
$51,299,460
$139,709,248
$279,914,426
Assets
7.6.
BusinessRatios
CIConsultantsLtd
Copyright2006
Page50
Businessplan3.0
UmmahAirways
The accompanying table offers key business ratios, based on the financial
planfortheproposedairline.Itisworthnotingthateveninthefirstyearof
operations,andwithconservativeplanning,aprofit,albeitrelativelymodest,
isfeasiblesomethingunusualintheairlinebusiness.Eveninthefirstyear,
the investor can expect a return on equity about 11 percent, and then
significant cash growth going into the second and third years, with ROE
figuresupwardsof50percentonacumulativebasis.
Caremustbetakentocontrolcosts,toplanroutes,schedules,andcapacities
carefully, and to take on highcost items with caution and with an eye to
timing.Butthe basicelementsforasolidbusinessare evidentinthisplan's
financials. Prudent, experienced management will regard these caveats
carefully and, in so doing, will see the airline through its initial challenging
launchintoaperiodwhere growthwillbebothsolidandsustained.Along
term(fiveyear)financialplanisincludedamongtheappendix.
CIConsultantsLtd
Copyright2006
Page51
UmmahAirways
Businessplan3.0
RatioAnalysis
SalesGrowth
FY2007
0.00%
FY2008
129.76%
FY2009
57.05%
IndustryProfile
3.64%
PercentofTotalAssets
Inventory
OtherCurrentAssets
TotalCurrentAssets
LongtermAssets
TotalAssets
0.69%
0.11%
98.91%
1.09%
100.00%
0.56%
0.14%
99.37%
0.63%
100.00%
0.40%
0.13%
99.54%
0.46%
100.00%
3.02%
37.42%
64.74%
35.26%
100.00%
CurrentLiabilities
LongtermLiabilities
TotalLiabilities
NetWorth
1.24%
2.13%
3.36%
96.64%
2.50%
1.09%
3.59%
96.41%
0.86%
0.76%
1.62%
98.38%
26.76%
18.20%
44.96%
55.04%
100.00%
94.91%
15.98%
100.00%
95.07%
16.38%
100.00%
95.58%
17.88%
100.00%
53.83%
35.22%
3.61%
81.01%
2.10%
85.43%
2.01%
87.99%
0.41%
0.83%
MainRatios
Current
Quick
TotalDebttoTotalAssets
PretaxReturnonNetWorth
PretaxReturnonAssets
80.00
79.45
3.36%
65.59%
63.38%
39.70
39.48
3.59%
58.28%
56.18%
116.13
115.66
1.62%
47.05%
46.29%
2.06
1.36
54.76%
1.19%
2.64%
AdditionalRatios
NetProfitMargin
ReturnonEquity
FY2007
81.00%
65.57%
FY2008
85.32%
58.27%
FY2009
87.89%
47.05%
n.a
n.a
ActivityRatios
InventoryTurnover
AccountsPayableTurnover
PaymentDays
TotalAssetTurnover
9.02
8.24
30
0.78
8.00
2.06
100
0.66
6.78
3.53
119
0.53
n.a
n.a
n.a
n.a
0.03
0.37
0.04
0.70
0.02
0.53
n.a
n.a
$51,851,217
0.00
$140,371,005
802.17
$280,776,183
940.12
n.a
n.a
1.28
1%
79.45
0.81
0.02
1.52
3%
39.48
0.68
0.01
1.90
1%
115.66
0.54
0.01
n.a
n.a
n.a
n.a
n.a
PercentofSales
Sales
GrossMargin
Selling,
General
&
AdministrativeExpenses
AdvertisingExpenses
ProfitBeforeInterestandTaxes
DebtRatios
DebttoNetWorth
CurrentLiab.toLiab.
LiquidityRatios
NetWorkingCapital
InterestCoverage
AdditionalRatios
AssetstoSales
CurrentDebt/TotalAssets
AcidTest
Sales/NetWorth
DividendPayout
CIConsultantsLtd
Copyright2006
Page52
Businessplan3.0
CIConsultantsLtd
UmmahAirways
Copyright2006
Page53
Businessplan3.0
CIConsultantsLtd
UmmahAirways
Copyright2006
Page54
Appendix
SalesForecast
Sales
SpecialFlightsPassengerRevenues
Packagetrips
Hajj&Umrah
Other
TotalSales
DirectCostofSales
SpecialFlightsPassengerRevenues
Packagetrips
HajjandUmrah
Other
SubtotalDirectCostofSales
0%
0%
0%
0%
0%
0%
0%
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$866,250
$65,625
$0
$0
$0
$0
$0
$931,875
$1,299,375
$98,437
$0
$0
$0
$0
$0
$1,397,812
$2,601,625
$118,124
$0
$0
$0
$0
$0
$2,719,749
$5,155,920
$188,997
$247,200
$5,760
$9,975
$0
$0
$5,607,852
$3,866,940
$207,897
$123,600
$2,880
$10,973
$0
$0
$4,212,290
$5,255,920
$293,966
$185,400
$4,320
$12,070
$0
$0
$5,751,676
$5,881,619
$440,949
$309,000
$7,200
$13,277
$0
$0
$6,652,045
$6,180,451
$390,600
$309,000
$7,200
$14,605
$0
$0
$6,901,856
$6,544,900
$477,405
$309,000
$7,200
$18,100
$0
$0
$7,356,605
Jun
$0
$0
$0
$0
$0
$0
$0
$0
Jul
$0
$0
$0
$0
$0
$0
$0
$0
Aug
$0
$0
$0
$0
$0
$0
$0
$0
Sep
$53,900
$0
$0
$0
$0
$0
$0
$53,900
Oct
$84,567
$0
$0
$0
$0
$0
$0
$84,567
Nov
$142,345
$0
$0
$0
$0
$0
$0
$142,345
Dec
$325,467
$0
$14,280
$0
$3,990
$0
$0
$343,737
Jan
$221,980
$0
$7,140
$0
$4,389
$0
$0
$233,509
Feb
$272,367
$0
$10,710
$0
$4,828
$0
$0
$287,905
Mar
$289,810
$0
$17,850
$0
$5,311
$0
$0
$312,971
Apr
$298,453
$0
$17,850
$0
$5,842
$0
$0
$322,145
May
$306,231
$0
$17,850
$0
$7,240
$0
$0
$331,321
Page55
Appendix
PersonnelPlan
Captains(3peraircraft)
FirstOfficers(3peraircraft)
FlightAttendants(9peraircraft)
Other
Other
DirectorofSales&Marketing
RegionalSales&MarketingMgrs(3)
SpecialSales&MarketingManager
AirCargoSales&M arketingManager
Sales&MarketingAssistants(6)
Cust.Service/ReservationsAssts(12)
Other
President&CEO
VicePresident&GeneralManager
VicePresidentCommercial
VicePresidentFinance
VicePresidentOperations
Other
DirectorofCommunications
DirectorofHumanResources
DirectorofFlightSafety
DirectorofFlightMaintenance
DirectorofGroundOperations
DirectorofInformationSystems
StationM anagers(1permajorstation)
GroundServicePers(3permajstation)
MaintenanceEngineers(8)
Bookkeeping&FinancePersonnel(3)
InformationSystemsPersonnel(5)
ProfessionalSupportPersonnel(3)
Secretarial/AdminAsstPersonnel(3)
CustomerRelationsPersonnel(2)
Other
TotalPeople
TotalPayroll
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
Jun
$0
$0
$0
$0
$0
$5,000
$4,000
$0
$0
$3,000
$0
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$0
$0
$0
$2,000
$10,000
$4,000
$3,000
$0
$0
10
Jul
$0
$0
$0
$0
$0
$5,000
$8,000
$0
$0
$4,500
$0
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$0
$0
$0
$2,000
$10,000
$4,000
$3,000
$0
$0
10
Aug
$45,000
$36,000
$40,500
$0
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$6,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$10,000
$22,500
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
15
Sep
$45,000
$36,000
$40,500
$0
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$9,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$10,000
$22,500
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
15
Oct
$45,000
$36,000
$40,500
$0
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$9,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$10,000
$22,500
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
20
Nov
$60,000
$48,000
$54,000
$0
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$12,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$14,000
$31,500
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
20
Dec
$60,000
$48,000
$54,000
$0
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$12,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$14,000
$31,500
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
25
Jan
$60,000
$48,000
$54,000
$0
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$12,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$14,000
$31,500
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
25
Feb
$60,000
$48,000
$54,000
$0
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$12,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$14,000
$31,500
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
30
Mar
$60,000
$48,000
$54,000
$0
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$12,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$14,000
$31,500
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
35
Apr
$75,000
$60,000
$67,500
$19,687
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$12,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$20,000
$45,000
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
40
May
$75,000
$60,000
$67,500
$39,375
$0
$5,000
$12,000
$4,000
$4,000
$9,000
$12,000
$0
$15,000
$12,000
$10,500
$10,500
$10,500
$0
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$20,000
$45,000
$20,000
$6,000
$10,000
$6,000
$4,500
$4,000
$0
30
$116,500
$122,000
$330,000
$333,000
$333,000
$389,500
$389,500
$389,500
$389,500
$389,500
$469,187
$488,875
GeneralAssumptions
PlanMonth
CurrentInterestRate
LongtermInterestRate
TaxRate
Other
Jun
1
9.00%
7.50%
30.00%
0
Jul
2
9.00%
7.50%
35.00%
0
Aug
3
9.00%
7.50%
35.00%
0
Sep
4
9.00%
7.50%
35.00%
0
Oct
5
9.00%
7.50%
35.00%
0
Nov
6
9.00%
7.50%
35.00%
0
Dec
7
9.00%
7.50%
35.00%
0
Jan
8
9.00%
7.50%
35.00%
0
Feb
9
9.00%
7.50%
35.00%
0
Mar
10
9.00%
7.50%
35.00%
0
Apr
11
9.00%
7.50%
35.00%
0
May
12
9.00%
7.50%
35.00%
0
Page56
Appendix
Page57
Appendix
ProFormaProfitandLoss
Total Income
Cost of Goods Sold
Jun
$0
$0
Jul
$0
$0
Aug
$0
$0
Sep
$931,875
$53,900
Oct
$1,397,812
$84,567
Nov
$2,719,749
$142,345
Dec
$5,607,852
$343,737
Jan
$4,212,290
$233,509
Feb
$5,751,676
$287,905
Mar
$6,652,045
$312,971
Apr
$6,901,856
$322,145
May
$7,356,605
$331,321
Gross Profit
Gross Profit %
$0
0.00%
$0
0.00%
$0
0.00%
$877,975
94.22%
$1,313,245
93.95%
$2,577,404
94.77%
$5,264,115
93.87%
$3,978,781
94.46%
$5,463,771
94.99%
$6,339,074
95.30%
$6,579,711
95.33%
$7,025,284
95.50%
Total Expense
$116,500
$2,500
$10,000
$2,000
$1,500
$1,200
$0
$0
$0
$720
$0
$0
$0
$23,300
$0
$157,720
$122,000
$2,625
$9,000
$2,000
$2,000
$1,500
$0
$20,000
$0
$720
$0
$0
$24,000
$24,400
$0
$208,245
$330,000
$2,756
$8,100
$2,000
$2,300
$1,500
$0
$20,000
$15,000
$720
$0
$100,000
$0
$66,000
$0
$548,376
$333,000
$2,894
$7,290
$2,000
$2,500
$1,200
$0
$20,000
$5,000
$720
$0
$0
$0
$66,600
$0
$441,204
$333,000
$3,039
$6,561
$2,000
$3,000
$1,000
$0
$20,000
$5,000
$720
$0
$0
$8,000
$66,600
$0
$448,920
$389,500
$3,191
$5,905
$2,000
$3,000
$1,200
$0
$20,000
$14,000
$720
$8,000
$35,000
$0
$77,900
$0
$560,416
$389,500
$3,350
$5,314
$2,000
$3,300
$1,500
$10,000
$20,000
$8,000
$720
$8,000
$0
$0
$77,900
$0
$529,585
$389,500
$3,518
$4,783
$2,000
$3,000
$1,500
$0
$20,000
$8,000
$720
$8,000
$0
$0
$77,900
$0
$518,921
$389,500
$3,694
$4,305
$2,000
$3,000
$1,500
$0
$20,000
$8,000
$720
$8,000
$0
$0
$77,900
$0
$518,618
$389,500
$3,878
$3,874
$2,000
$3,000
$1,200
$0
$20,000
$8,000
$720
$8,000
$0
$12,000
$77,900
$0
$530,073
$469,187
$4,072
$3,487
$2,000
$3,000
$1,200
$0
$20,000
$17,000
$720
$8,000
$50,000
$0
$93,837
$0
$672,503
$488,875
$4,276
$3,138
$2,000
$3,000
$800
$0
$20,000
$10,000
$720
$8,000
$0
$0
$97,775
$0
$638,584
Gross Profit
($157,720)
($208,245)
($548,376)
$436,771
$864,325
$2,016,988
$4,734,530
$3,459,860
$4,945,153
$5,809,001
$5,907,208
$6,386,700
Other Income
Interest Income
Extraordinary Items
Total Other Income
$833
$1,667
$2,500
$875
$1,667
$2,542
$919
$1,667
$2,585
$965
$1,667
$2,631
$1,013
$1,667
$2,680
$1,064
$1,667
$2,730
$1,117
$1,667
$2,783
$1,173
$1,667
$2,839
$1,231
$1,667
$2,898
$1,293
$1,667
$2,959
$1,357
$1,667
$3,024
$1,425
$1,667
$3,092
Other Expense
Account Name
Extraordinary Items
Total Other Expense
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
$2,500
$833
$3,333
Net Other Income

Net Profit
NetProfit/Sales
($833)
($158,553)
0.00%
($792)
($209,037)
0.00%
($748)
($549,124)
0.00%
($702)
$436,069
46.79%
($654)
$863,671
61.79%
($603)
$2,016,385
74.14%
($550)
$4,733,980
84.42%
($494)
$3,459,366
82.13%
($435)
$4,944,717
85.97%
($374)
$5,808,628
87.32%
($309)
$5,906,898
85.58%
($241)
$6,386,459
86.81%
Expenses
Payroll
Sales and Marketing and Other Expenses
Depreciation
Leased Equipment
Telephone
Utilities
Insurance (NonAviation)
Headquarters Office Rent
Field Office Rental
Vehicle Operating Expenses
Computer Hardware/Software Devlpmnt
Cockpit/Cabin Crew Training/Simulator
Crew/Staff Uniforms & Grooming
Payroll Taxes
Other General and Administrative Expenses
20%
Page58
Appendix
ProFormaCashFlow
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
$0
$0
$0
$0
$0
$0
$931,875
$931,875
$1,397,812
$1,397,812
$2,719,749
$2,719,749
$5,607,852
$5,607,852
$4,212,290
$4,212,290
$5,751,676
$5,751,676
$6,652,045
$6,652,045
$6,901,856
$6,901,856
$7,356,605
$7,356,605
$2,500
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$523,333
$2,542
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$523,375
$2,585
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$523,419
$2,631
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$1,455,340
$2,680
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$1,921,325
$2,730
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$3,243,313
$2,783
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$6,131,469
$2,839
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$4,735,963
$2,898
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$6,275,407
$2,959
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$7,175,838
$3,024
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$7,425,713
$3,092
$0
$20,833
$16,667
$41,667
$12,500
$12,500
$416,667
$7,880,530
Expenditures
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Expenditures from Operations

Cash spending
Bill Payments
Subtotal Spent on Operations
$116,500
$391,041
$507,541
$122,000
$32,754
$154,754
$330,000
$81,679
$411,679
$333,000
$206,631
$539,631
$333,000
$103,912
$436,912
$389,500
$196,852
$586,352
$389,500
$381,882
$771,382
$389,500
$684,600
$1,074,100
$389,500
$244,751
$634,251
$389,500
$472,710
$862,210
$469,187
$479,069
$948,256
$488,875
$530,597
$1,019,472
$3,333
$16,667
$0
$3,333
$17,500
$17,100
$3,333
$18,375
$17,100
$3,333
$19,294
$17,100
$3,333
$20,258
$17,100
$3,333
$21,271
$17,100
$3,333
$22,335
$17,100
$3,333
$23,452
$17,100
$3,333
$24,624
$17,100
$3,333
$25,855
$17,100
$3,333
$27,148
$17,100
$3,333
$28,506
$17,100
$11,833
$11,833
$11,833
$11,833
$11,833
$11,833
$11,833
$11,833
$11,833
$11,833
$11,833
$11,833
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$10,000
$3,333
$41,667
$54,167
$648,541
$3,333
$41,667
$54,167
$313,688
$3,333
$41,667
$54,167
$571,488
$3,333
$41,667
$54,167
$700,358
$3,333
$41,667
$54,167
$598,604
$3,333
$41,667
$54,167
$749,056
$3,333
$41,667
$54,167
$935,151
$3,333
$41,667
$54,167
$1,238,985
$3,333
$41,667
$54,167
$800,309
$3,333
$41,667
$54,167
$1,029,499
$3,333
$41,667
$54,167
$1,116,838
$3,333
$41,667
$54,167
$1,189,411
($125,207)
$14,154,793
$209,688
$14,364,480
($48,069)
$14,316,411
$754,982
$15,071,393
$1,322,721
$16,394,114
$2,494,256
$18,888,371
$5,196,318
$24,084,689
$3,496,977
$27,581,666
$5,475,098
$33,056,764
$6,146,338
$39,203,103
$6,308,875
$45,511,978
$6,691,120
$52,203,098
Cash Received
Cash from Operations
Cash Sales
Subtotal Cash from Operations
Additional Cash Received
Non Operating (Other) Income
Sales Tax, VAT, HST/GST Received
New Current Borrowing
New Other Liabilities (interestfree)
New Longterm Liabilities
Sales of Other Current Assets
Sales of Longterm Assets
New Investment Received
Subtotal Cash Received
Additional Cash Spent

Non Operating (Other) Expense
Sales Tax, VAT, HST/GST Paid Out
Principal Repayment of Current
Borrowing
Other
Liabilities
Principal
Repayment
Longterm Liabilities Principal
Repayment
Purchase Other Current Assets
Purchase Longterm Assets
Dividends
Subtotal Cash Spent
Net Cash Flow
CashBalance
1750.00%
Page59
Appendix
ProFormaBalanceSheet
Assets
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Starting
Balances
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
$14,280,000
$150,000
$50,000
$14,480,000
$14,154,793
$150,000
$40,833
$14,345,626
$14,364,480
$150,000
$31,667
$14,546,147
$14,316,411
$150,000
$22,500
$14,488,911
$15,071,393
$96,100
$13,333
$15,180,826
$16,394,114
$93,024
$4,167
$16,491,305
$18,888,371
$156,580
($5,000)
$19,039,950
$24,084,689
$378,111
($14,167)
$24,448,633
$27,581,666
$256,860
($23,333)
$27,815,192
$33,056,764
$316,696
($32,500)
$33,340,960
$39,203,103
$344,268
($41,667)
$39,505,704
$45,511,978
$354,360
($50,833)
$45,815,504
$52,203,098
$364,453
($60,000)
$52,507,551
Longterm Assets
Longterm Assets
Accumulated Depreciation
Total Longterm Assets
Total Assets
$300,000
$0
$300,000
$14,780,000
$329,167
$10,000
$319,167
$14,664,793
$358,333
$19,000
$339,333
$14,885,480
$387,500
$27,100
$360,400
$14,849,311
$416,667
$34,390
$382,277
$15,563,103
$445,833
$40,951
$404,882
$16,896,187
$475,000
$46,856
$428,144
$19,468,094
$504,167
$52,170
$451,996
$24,900,629
$533,333
$56,953
$476,380
$28,291,572
$562,500
$61,258
$501,242
$33,842,202
$591,667
$65,132
$526,535
$40,032,239
$620,833
$68,619
$552,214
$46,367,719
$650,000
$71,757
$578,243
$53,085,794
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Liabilities and Capital

Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$390,000
$300,000
$30,000
$720,000
$30,179
$320,833
$18,167
$369,179
$74,670
$324,567
$5,500
$404,737
$203,267
$328,300
($8,042)
$523,525
$97,550
$332,033
($22,502)
$407,082
$184,488
$335,767
($37,927)
$482,327
$358,548
$339,500
($54,365)
$643,683
$676,704
$343,233
($71,867)
$948,070
$228,999
$346,967
($90,485)
$485,481
$456,802
$350,700
($110,276)
$697,226
$461,334
$354,433
($131,298)
$684,469
$514,331
$358,167
($153,613)
$718,884
$471,719
$361,900
($177,285)
$656,334
Longterm Liabilities
Total Liabilities
$750,000
$1,470,000
$781,667
$1,150,846
$813,333
$1,218,070
$845,000
$1,368,525
$876,667
$1,283,748
$908,333
$1,390,661
$940,000
$1,583,683
$971,667
$1,919,737
$1,003,333
$1,488,814
$1,035,000
$1,732,226
$1,066,667
$1,751,136
$1,098,333
$1,817,217
$1,130,000
$1,786,334
Paidin Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
$14,300,000
($990,000)
$0
$13,310,000
$14,780,000
$14,716,667
($1,044,167)
($158,553)
$13,513,947
$14,664,793
$15,133,333
($1,098,333)
($367,590)
$13,667,410
$14,885,480
$15,550,000
($1,152,500)
($916,714)
$13,480,786
$14,849,311
$15,966,667
($1,206,667)
($480,645)
$14,279,355
$15,563,103
$16,383,333
($1,260,833)
$383,026
$15,505,526
$16,896,187
$16,800,000
($1,315,000)
$2,399,412
$17,884,412
$19,468,094
$17,216,667
($1,369,167)
$7,133,392
$22,980,892
$24,900,629
$17,633,333
($1,423,333)
$10,592,758
$26,802,758
$28,291,572
$18,050,000
($1,477,500)
$15,537,475
$32,109,975
$33,842,202
$18,466,667
($1,531,667)
$21,346,103
$38,281,103
$40,032,239
$18,883,333
($1,585,833)
$27,253,001
$44,550,501
$46,367,719
$19,300,000
($1,640,000)
$33,639,460
$51,299,460
$53,085,794
NetWorth
$13,310,000
$13,513,947
$13,667,410
$13,480,786
$14,279,355
$15,505,526
$17,884,412
$22,980,892
$26,802,758
$32,109,975
$38,281,103
$44,550,501
$51,299,460
Page60
Appendix
CIConsultants:TransportationandTravelsector
A key player in a competitive segment of the transportation industry sought to
differentiate through customer service and sales operations. The client had
previously made a significant investment in a call center infrastructure, but
results were unsatisfactory. Competitors were gaining in key customer service
capabilities. CI Consultants conducted a comprehensive review of client call
center capabilities benchmarked call center operations of 19 different
companies conducted detailed interviews with call center operators identified
bestpracticesinhumanresources,ITandcallcenterprocessesandcompleteda
gap analysis. We helped the client instill best practices, which resulted in
significant productivity improvement and better leveraging of IT in customer
service.
Anotherclientwasexperiencingsignificantpressureonitsexistingrevenuebase
asamidmarketcompanyinaconsolidatingindustry,ithadtogroworbecomea
nicheplayer.CIConsultantsconductedastrategicoptionoverviewandpotential
partner assessment aimed at increasing market share. We also conducted a
partnership structure analysis, synergy quantification and acquisition valuation,
and provided negotiation support, regulatory approval filing and stakeholder
presentations. The targeted company was acquired in a transaction worth more
than $2 billion.The parent retained its credit rating and completed a successful
acquisition, resulting in 18 percent appreciation in its stock price in the month
followingthemerger.
A.T. Kearney was the first major consulting firm to establish a dedicated
transportation practice, which now works with transportation and logistics
servicescompaniesineverymode,marketsegmentandgeographicarea.Witha
primary focus on corporate strategy,wealso assist our clients with operational,
marketing,organizationalandinformation technology issues,andCIConsultants
have strategic collaborations and partnership with A.T. Kearney to deliver on
manyoftheseprojects.
Weprovideconsulting to carriersaswellas their customers,providinga unique
perspective on shipper logistics and carrier strategy, and their relationship to
trafficcontrol,carrierselectionandpricingdecisions.
Throughourworkwithcarriers,equipmentmanufacturers,governmentagencies,
thirdparty service providers and other stakeholders, we have considerable
understanding of the transportation industry infrastructure, economics and
success requirements to help our clients compete domestically and
internationally.
Ourexperienceinthetransportationindustrycoversabroadrangeofservices,including:
Strategy and organization strategic planning, portfolio rationalization,

competitiveanalysis,postmergerintegrationandmergerandacquisitionsupport
Marketingandsalesmarketingstrategy,internationalcustomerrequirements,
keyaccountstrategy,salesforceeffectiveness
Planning and analysis budgeting models, development of cost standards,
customer/segmentprofitability,financetransformation
Operations terminal productivity, network design, business process
improvement,globalsourcing/supplymanagement,outsourcing
Facilities/maintenance inventory reduction, maintenance network, terminal
layout,assetutilization,bestpractices
Technologyandebusinessebusinessstrategy,businesscasedevelopment.
Page61
Appendix
CIConsultantsCaseStudies
Page62
Appendix
Client:CapitaUKGroup
Project:TransportforLondon,CongestionCharging
ProjectBudget:100millionGB
Capita Consulting was appointed by Transport for London in March 2002 to

undertakeacomprehensivecommunicationsreviewandauditandtodevelopand
implement a targeted communications strategy in support of its ontrack safety
programme,Sentinel.
CI Consulting facilitated series of workshops with senior management, we first
identified communications objectives to underpin Sentinel'snewly defined vision
and values, identifiedand analysed key stakeholderaudiences and outlinedand
secured agreement for desired messages. The next step was to establish and
agreeaprogrammeofresearchtocapturethe'bigpicture',ensuringallrelevant
stakeholder views were sought. Research methods included survey, onetoone
interviewsandfocusgroups,togetherwithdeskresearch.
CI Consulting prepared a stakeholder analysis and identified perception and
communication gaps between the desired and actual status. This was cross
referenced with an analysis of operational issues such as workflow processes,
current channel/media utilised, etc. The outputs included a detailed report and
recommendations, which formed the basis for the development of a tailored
strategyandplan.
Page63
Appendix
Client:MarbroPromotionsLtd
Project:BoltonMetropolitanBoroughCouncil
ProjectBudget:390,000
In2001BoltonMetropolitanBoroughCouncil(MBC)appointedMarbroPromotions
LtdtobetheirstrategicpartnerfortheimplementationoftheirCRMstrategy.CI
Consulting helped the city council to define its vision, and to design and
successfullyimplementnewaccesschannels,includingacontactcentreandtown
centreonestopshop.
Building on the success of the CRM project the contract between Marbro
Promotions, and outsourcing company and Bolton Metropolitan Borough Council
(MBC) was further expanded the programme with the aim of improving the
provisionofsupportservicesacrosstheentirecouncil.Anumberofnewelements
thatCIConsultingwasinvolvedindevelopingthemwhichthenwasdeliveredby
MarbroPromotionsasthirdpartysolutions:
1. Transforming finance and HR support services, including the
implementationofanERPsystem
2. Implementingeprocurement
3. Facilitating wider change in council services by reengineering
administrative support services across all council departments and other
alliedinitiatives.
Marbro Promotions went on to also supported Bolton Metropolitan Borough
Council Housing Department through the creation of a new Arms Length
ManagementOrganisation(ALMO)andtheworktodelivera3*excellencerating
fortheservice.
We brought together our experience of managing change in local government
combined with key skills in programme/project management, best value and
knowledge management to provide a comprehensive package of support to the
department.
Thishas contributedsignificantly to thesuccessfulcreationof theALMOand the
ongoing achievement of the service improvements necessary to achieve an
excellencerating.
Page64
Appendix
Client:MarbroPromotionsLtd
Project:LouisvilleGas&Electric/KentuckyUtilitiesCompany
Assignment:SystemIntegration
ProjectBudget:$760million
Twoutilitiesfacedthechallengeofcompletingoneofthefastestmergersofoperationson
recordandidentifying$760millioninsavings.Chargedwithasixmonthdeadline,Marlbro
Promotionsusedtwoconcurrentworkstreamstomakethetransitionareality.
Louisville Gas& Electric and Kentucky Utilities Company were successful energy
companies dwarfed byaggressive regional competitors.To achieve critical mass
and fend off unwanted takeovers, the two companies agreed to a merger that
wouldcreateaholdingcompanywithcombinedassetsofover$4.7billion.
But timewas thebiggest villain.Themerger'ssuccessrestedon completing the
integration of the two companies' operations within six months of the board's
approval. And regulators would not give the mergera nod unless the combined
company,whichwouldservemorethan1.1billioncustomers,coulddemonstrate
synergy cost savings of $760 million and reduce customers' bills by 2 percent
overthenextfiveyears.
The twoutilities facedthe challengeof completingone of thefastest mergersof
operationsonrecordandidentifying$760millioninsavings.
Chargedwithasixmonthdeadline, MarlbroPromotions used twoconcurrentwork
streamstomakethetransitionareality.Thefirsttackledsuchchallengesasthe
integration of financial information and joint dispatch. The second identified
synergiesthatcouldbeexploited.
Aprogrammanagementteamwascreatedtofunctionasacontrolcentreforthe
entireproject.Itcoordinatedtheeffortsofmanagementandthewaveofmerger
integration teams that were quickly assembled. The merger integration teams
took on the task of identifying and managing such issues as Information
TechnologyandHumanResources.
HowCIConsultantsHelped
Our working module was in providing the Finance & Performance Management
ServicesplanandfeasibilitystudyfortheUtilitiescompanies.
Weworkedwith theutilitiesclients todesignand implement integrated systems
that significantly improve management's ability to control costs, and use
informationtoprovideastrategicadvantage.
Page65
Appendix
Client:IslamicBroadcastingCorporationLtd
Project:IslamicTelevisionandNetworkmanagement
Assignment:fromstrategytoImplementation
ProjectBudget:10million
Our Business Plan has won several awards such as from the European Union,
CoventryUniversity,andWarwickuniversityscienceandtechnologyinstitute:
Conceptheadlines,missionstatement,comparablechannels
Marketcustomers,audience,kindredspirits,marketing,branding,distribution
Revenuesrevenuestreambreakdowns,comparablechannels
Content strategy, acquisition sources, original programming, schedule,
comparative schedules, web, interactivity Resources & Costs regulation &
compliance, operating structure, transmission, channel management,
developmentBusinessPlan
Financial Analyses profit and loss, cash flow, balance sheet, financial
assumptionsandcalculations.ExecutiveSummary
Strategy:Broadcasting,Networkdevelopment,Productionandcontentcreation
The Islamic Television Project was formed with the purpose of realising the
exciting prospect of setting up and running a satellite television channel
broadcastingIslamicthemedprogrammes.
CI Consultants have brought together different initiatives, which began
separatelyhavebecomejoinedandcommittedtoworkingtogetherwithinthe
IslamicTelevisionProjectasajointventure.Thisisgoingaheadinaspiritof
cooperation and mutualbenefit.Benefit of which is thelaunchof TheIslam
channelintheUKonchannel836onskyplatforms.Anddevelopmentoftwo
moreglobalchannelschannelISLAManIslamicchannelfortheMuslimsand
thePurpose of LifeTVan Islamic channel forthenonMuslims allunderthe
umbrellaoftheIslamicBroadcastingCorporation.
CI Consultants bought together the pioneering companies within the Islamic
media through strategic collaboration to form the Islamic Television Project.
The Islamic Television Project was initiated from joint venture between the
IslamicInformationNetworkLtdandChannelISLAMLtd.
TheIslamictelevisionprojectisestablishedwiththemissiontoworktogether
forthesakeofAllahandthroughthetelevisionmediumto:
Setthetrendandhelpshapetheculturesofsociety.
Gainthetrustoftheaudienceandtheninspirethemtofollow.
As broadcasters, understand the pulse of the audience and able to

translatethatintoprogramming.
Page66
Appendix
Client:CrescentSoftDrinksLtd
Project:MarketingandDistribution
ProjectBudget:1million
ForthisassignmentwewerePrimarilyResponsiblefor:
Designamarketingcampaignusingcomprehensivestrategy
Formulatingstrategyforpromotionsforallsales
Productpackages(productcrossovers)
Sponsorships(partnership&support)
Promotionaloffers(merchandising&association)
Customerretentionprograms(loyaltyschemes)
Businesscasedevelopmentforallpromotionaloffers
Recommendationandimplementationofrelevantschemes
Communicationofapplicablebusinessrulestoclient
ForthisassignmentwewereAdditionallyResponsiblefor:
Managingcompetitiveanalysisandtrackingprocess(comparisonsand
responsetomarket)
Completingandmanagingpromotionaloffersthroughimplementationofall
billingsystemrequirements
Responsiblefordefiningrevenuegenerationandsustainablerepeat
business
Trendreportsforrateplansandmakingrecommendationsforprice,
promotionsandproductline
Implementingchangesbasedonthisinformation
DuringallMarketingCommissionsweendeavourto:
Reviewcomarketingagreementsandprintmaterialsforaccuracyand
completenessofpromotionalandpricingoffersandfunctionality
Manageradio,television,print,outdoormediaproductionandplacement
Negotiateandmanagegovernmentandprivateindustrycontracts
RecommendupdatestoRatePlanInformationinregardsto:
pricingandpromotions
functionalityofoffers
relatedbusinessrules
Responsiblefordrivingthemerchandisingstrategytobothbusiness
customersandconsumersatpointofsaleandwithinthemarket
Managespecialevents,sponsorshipsandcommunitypublicrelations
Coordinatelegalcomplianceofallmarketingactivities
Developandexecutemarketingresearchinitiatives
Responsiblefortrackingmarketingrelatedexpensesandmanagementof
budget(35k)toinsurecompliance
Directresponsibilityforcoordinatingprojects,mediaplansandmarketing
strategydevelopment
Operateinthepositionofandbythisactinthebestinterestsoftheclientat
alltimes
Providefunctionalinteractionbetweenclientandcontractors
Holdallcontracted/3rd partyworksubjecttoconfidentialityandnon
disclosureagreements
Newproductdevelopmentandmarketing
Defining,analysing,andexecutingthepointofsaleandmarketstrategy
Managingateamcomprisedofanalystsandmarketing/mediaassistants
Page67
Appendix
ContactDetails:
SyedMasrur
ManagingDirector
CIConsultants
Office:++44(0)1142737773
Fax:++44(0)1142752368
Mobile:+44(0)7951540631
Email:m4srur@yahoo.com
ThePurposeofLifeCentre
108ShirecliffeLane
Sheffield,S39AE
UnitedKingdom
MarlinaWong
InternationalRelationsandCommerceDirector
CIConsultants
Office:++(0)
Fax:++(0)
Mobile:+(0)
Email:marlina@eslancer.com
Adress1
Adress2
City,P.O
Country
AhmedElTurabi
CommunicationsDirector
CIConsultants
Office:++44(0)1142737773
Fax:++44(0)1142752368
Mobile:+44(0)7919071886
Email:ahmedelturabi@hotmail.com
ThePurposeofLifeCentre
108ShirecliffeLane
Sheffield,S39AE
UnitedKingdom
Page68

Ummah Airways - Business Plan

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Ummah Airways - Business Plan

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Thosewhoservethepeoplearetheirleaders...

Provision of highquality service on routes and in markets that currently

Utilization of the latest electronic and informational technologies in sales

1. To establish and operate a newglobal airline aiming specifically at

Intelligent, progressive, and aggressive marketing that

Identifying, developing, and quickly and costeffectively

Muslim market. This opportunity is occasioned by growing economic, political,

Itisanticipatedthataportionofthe ownership(equity)willbe dividedinto

credibilityconsidered an essential element of the overall organizational

A complete market analysis and segmentation will require a specific

130,000,000 156,000,000 187,200,000 224,640,000 269,568,000 20.00%

260,000,000 273,000,000 286,650,000 300,982,500 316,031,625 5.00%

either to the airline's website, or to its telephonebased customerservice

It is strongly suggested that the Important Assumptions section be reviewed

In addition to the general financial andbusiness assumptions presented in

Peakdemand special flights on key regional/seasonal/intermittent

Cash outlay required for

Annual payments on five

Total cost of aircraft w/

Based on these figures, comparative persegment costs in the following

This comparisonobviouslydoesnot examine thepossibletax consequences

As the accompanying chart demonstrates, the breakeven point comesat a

As the accompanying Profit and Loss chart clearly demonstrates, the

As the accompanying Balance Sheet indicates, the proposed venture will

Net Other Income

Expenditures from Operations

Additional Cash Spent

Liabilities and Capital

Strategy and organization strategic planning, portfolio rationalization,

Capita Consulting was appointed by Transport for London in March 2002 to

As broadcasters, understand the pulse of the audience and able to

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