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Airbus A320-200 Q3 2012, Updated 2 July 2012 1

‘This document is a module from the Ascend Online Service and as such its use is subject to the Terms and conditions of the service, details of which can be found on https://online.ascendworldwide.com

Airbus A320-200, Q3 2012

Airbus A320-200 VALUE TRENDS Source: https://online.ascendworldwide.com; Generic spec, Half-Life or better

MARKET VALUESBuild Year Jul-10 Jul-11 Jul-12

1993 $8.70m $6.80m $8.00m1998 $15.00m $13.75m $12.00m2011 - $40.50m $36.80m

BASE VALUESBuild Year Jul-10 Jul-11 Jul-12

1993 $10.05m $8.50m $9.30m1998 $16.55m $15.45m $14.30m2011 - $43.15m $41.25m

MARKET LEASE RATES (5-YEAR)Build Year Jul-10 Jul-11 Jul-12

1993 $0.120m $0.090m $0.080m1998 $0.170m $0.150m $0.125m2011 - $0.320m $0.285m

CURRENT MARKET VALUE / BASE VALUE RATIOSBuild Year Jul-10 Jul-11 Jul-12

1993 87% 80% 86%1998 91% 89% 84%2011 - 94% 89%

MARKET LEASE RATE / CURRENT MARKET VALUE Build Year Jul-10 Jul-11 Jul-12

1993 1.38% 1.32% 1.00%1998 1.13% 1.09% 1.04%2011 - 0.79% 0.77%

MARKET LEASE RATES NET OF INTEREST RATESBuild Year Jul-10 Jul-11 Jul-12

1993 $0.099m $0.077m $0.065m1998 $0.134m $0.124m $0.103m2011 - $0.245m $0.217m

Interest rates are five year SwapsGeneric SpecificationEngines CFM56-5B4/PMTOW 162040

Values and Lease Rates may be different for other specifications.Please contact Ascend for valuation of these and any specific aircraft.

Airbus A320-200 SUMMARY

No change in Market Values in Q2 except for young -A1 variants. More part-outs expected. Storage rate has declined in Q2 2012 compared with Q1. Aircraft with better specs command higher lease rates. New final assembly line in the US announced. Production volume building to 42/month. Some upsizing of orders to A321s. Lease rates under pressure, especially vs 737-800. Early model 5A/A1 variants losing favour fast and seeing increased levels of part-out. Impact of neo on “ceo” (current engine option) values not yet fully quantifiable. Freighter conversion frozen but expected to return in longer term. New competitors emerging – 737 MAX, C919 and MS-21.

Highly popular aircraft with diverse customer base across all geographic and airline sectors including low-cost carriers (LCCs). Continuous upgrade programmes. First sharklet-equipped A320 rolled out in April 2012. More than 3,000 A320-200s have been delivered, around 200 airline operators. Growing operator base, active sales and leasing market. A320neo, due Q4 2015, already has good order traction – more than 1,300 firm orders received.



Airbus A320-200, Q3 2012

AIRBUS A320-200 VALUE AND LEASE RATE TRENDS Source: Ascend Online Values (V1) Market Values have remained stable for older CFM56-5A/IAE V2500-A1 powered aircraft since the beginning of 2012, and start from $4.00 million for a 1989-built aircraft. However, values fell by up to 5.5% for younger aircraft in April and are at $12.10 million for 2003-built aircraft. Market Lease Rates declined by 3-8% at the start of May before stabilising at $55,000/month for 1988-built aircraft and $135,000/month for 2003-built aircraft. Market Values of the A320-200 (5B/A5) last fell by around 5% at the start of Q1 2012, but have remained stable since then. They range from $8.0 million for a 1993-built aircraft up to $36.8 million for a 2011-built aircraft. New 2012-built aircraft command $39.8 million. Note that higher specifications (especially maximum take-off weight and engines) can result in values of more than $3 million above the generic specification values. Market Lease Rates for the A320-200 (5B/A5) declined by 3-6% in Q2 2012, depending on the vintage. They stand between $80,000/month for a 1993-built aircraft and $285,000/month for a 2011-built aircraft. Rates for new 2012-built aircraft are at $305,000/month. However, higher specifications may command higher rates.

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Apr-10 Jul-10 Sep-10 Jan-11 Apr-11 Jul-11 Sep-11 Jan-12 Apr-12 Current

A320-200 Value and Lease Rate Development

1988 A320-200 CMV 1998 A320-200 CMV 2011 A320-200 CMV

1988 A320-200 MLR 1998 A320-200 MLR 2011 A320-200 MLR

70%

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80%

85%

90%

95%

100%

105%

110%

Apr-10 Jul-10 Sep-10 Jan-11 Apr-11 Jul-11 Sep-11 Jan-12 Apr-12 Current

A320-200 MV/BV Ratio Development

1988 A320-200 CMV/CBV 1998 A320-200 CMV/CBV 2011 A320-200 CMV/CBV



Airbus A320-200, Q3 2012

AIRBUS A320-200 MARKET OUTLOOK Source: Ascend Online Fleets Short-Term Market Outlook

■ A320 lease rates fell in Q2 and the type is not performing as well as its main rival, the 737-800.

■ Market Values for younger A1 variants declined in Q2.

■ Continued upsizing of some orders – 25 turned to A321s during Q2.

■ Storage rate has fallen marginally compared with the last quarter – now at 3% or 90 aircraft.

■ There were 27 lease returns but also 35 new leases in Q2 – an active market in all regions.

■ The A320 remains one of lessors’ favourites and a good level of sale and leaseback activity, as well as continued sales with leases attached.

■ Given the type’s fuel efficiency, we would expect most available aircraft of the younger and better specification examples (post-1995 and 5B/V2527-powered) to be placed first.

■ Older A1 and lower specification examples are becoming more differentiated and are taking longer to place, if at all – part-outs are increasing. Recent airline bankruptcies show the remarketing period for the 5A/A1 variants to be almost double that for the non-5A/A1 variants.

■ Continuous performance enhancements – Airbus rolled out its first sharklet-equipped aircraft in April 2012. Etihad announced in June that it will have the sharklets fitted to 17 of its A320s on order.

■ Engine options dilute customer base, with marginal negative impact on values and lease rates. Launch of neo variants has further impact in this regard.

Medium and Long-Term Market Outlook

■ The A320-200 will continue to be one of the most easily marketable aircraft, drawing on the large fleet and commonality within the A320 family. It has a global population and operators in all sectors – scheduled, low-cost and charter. Over 4,300 ordered, now being dubbed A320ceo.

■ Production rate for A320 family increasing from 40 aircraft/month to 42/month from Q4 2012. New FAL in Mobile, Alabama, will be producing about 3-4 aircraft per month by 2018. Together with its current facilities in Hamburg, Toulouse and Tianjin, Airbus now has a global FAL network to serve clients from different continents.

■ Airbus has been studying further production rate increases (44/month), but it remains uncertain if there will be demand and supply chain issues.

■ A total of 1,300 orders for re-engined A320neo (CFM LEAP-1A and geared turbofan PurePower PW1100G-JM).

■ A320neo deliveries scheduled from October 2015 and production expected to switch to all neo variants during 2017.

■ Boeing also re-engining, with the LEAP-powered 737-8 MAX due to enter service in mid-2017. Still being defined in terms of specification. MAX is now gaining more orders, with 200 received for the -8 at Farnborough in Q3 from Air Lease, ALAFCO, Avolon, GECAS and Virgin Australia.

■ The A320 and 737 will see more competition coming in 2016/17 from the similar-sized Comac C919 and Irkut MS-21.

■ A320neo will build up in numbers in 2020s but the A320neo will still have a very large fleet and be an active part of the single-aisle market well into the 2030s.

■ An all-new replacement looks unlikely before 2030 at the earliest, driven by new engine technology – open rotor current favourite to achieve 25% fuel burn savings.

■ The freighter conversion programme is currently frozen as a result of price/availability issues, but expected to return in the longer term. The A320P2F (passenger to freighter) should make a good 21t freighter.



Airbus A320-200, Q3 2012

AIRBUS A320-200 MARKET ACTIVITY Source: Ascend Online Fleets A summary of market activity in Q2 2012 is as shown:

Variant Net Orders Deliveries Sales Leases Lease

Returns Cargo

Conversions Retirements

200 (Engines Unannounced) -18 0 0 0 0 N/A 0

200 (Engines Unannounced) Sharklets 0 0 0 0 0 N/A 0

200 neo (CFM) 0 0 0 0 0 N/A 0 200 neo (Engines

Unannounced) 136 0 0 0 0 N/A 0

200 neo (PW) 0 0 0 0 0 N/A 0 210 (CFM -5A) 0 0 6 1 3 N/A 3

210 (CFM) 0 58 21 13 13 N/A 0 210 (CFM) Sharklets 0 0 0 0 0 N/A 0

230 (IAE -A1) 0 0 3 2 1 N/A 5 230 (IAE) -6 30 16 19 10 N/A 0

230 (IAE) Sharklets 0 0 0 0 0 N/A 0 Total 112 88 46 35 27 N/A 8

Orders and Type Swaps

We observed the following orders/type swaps for the Airbus A320-200 during Q2 2012:

Customer Order Type Variant Date Qty.

Air Lease Order 200 neo (Engines Unannounced) 31-May-2012 36 BOC Aviation Order 210 (CFM) 10-May-2012 1

Norwegian Order 200 neo (Engines Unannounced) 8-Jun-2012 100 Cancellations

We observed the following order cancellations/type swaps for the Airbus A320-200 during Q2 2012:

Operator Variant Transaction Qty.

Etihad 230 (IAE) Swapped to A321 6 IndiGo 200 (TBA) Swapped to A321 18

Juneyao Airlines 210 (CFM) Swapped to A321 1 Deferrals

No deferrals were recorded for the Airbus A320-200 during Q2 2012. Deliveries

We observed the following deliveries for the Airbus A320-200 during Q2 2012:

Operator Variant Qty.

Air Arabia 210 (CFM) 1 Air China 210 (CFM) 2 Air France 210 (CFM) 2

Air VIA 230 (IAE) 1 AirAsia 210 (CFM) 1

AirAsia Japan 210 (CFM) 1



Airbus A320-200, Q3 2012

Operator Variant Qty.

airberlin 210 (CFM) 1 Avianca 210 (CFM) 1

China Eastern Airlines 210 (CFM) 5 China Eastern Airlines 230 (IAE) 3

China Southern Airlines 230 (IAE) 3 easyJet 210 (CFM) 12

Freebird Airlines 210 (CFM) 1 GoAir 210 (CFM) 1

Hainan Airlines 210 (CFM) 3 Hong Kong Airlines 210 (CFM) 4

IndiGo 230 (IAE) 3 Indonesia AirAsia 210 (CFM) 1

Interjet 210 (CFM) 1 JetBlue Airways 230 (IAE) 2 Jetstar Japan 230 (IAE) 3 LAN Airlines 210 (CFM) 3 Lufthansa 210 (CFM) 2

Mandala Airlines 230 (IAE) 1 Middle East Airlines 210 (CFM) 2

Niki 210 (CFM) 1 Peach 210 (CFM) 1

Philippine Airlines 210 (CFM) 2 Qatar Airways 230 (IAE) 2

Royal Jordanian 230 (IAE) 1 S7 Airlines 210 (CFM) 3

Shenzhen Airlines 230 (IAE) 2 Sichuan Airlines 230 (IAE) 1

SilkAir 230 (IAE) 1 Spirit Airlines 230 (IAE) 2

Spring Airlines 210 (CFM) 1 SriLankan Airlines 210 (CFM) 1

Star Flyer 210 (CFM) 1 TAM Linhas Aereas 210 (CFM) 3

Tiger Airways 230 (IAE) 1 Virgin America 210 (CFM) 1

Volaris 230 (IAE) 1 Wizz Air 230 (IAE) 3



Airbus A320-200, Q3 2012

Sales

During Q2 2012, we registered a total of 46 sales, including 21 sale and leasebacks on delivery, 13 straight sales and 12 purchases with leases attached:

Variant Vendor Buyer New Operator Transaction Qty.

210 (CFM -5A) AERCO 2000-1 ABS Portfolio FL Technics (Lithuania) FL Technics

(Lithuania) Purchased 1

210 (CFM -5A) AerLift PB Leasing Aircraft No.23 (Ireland) Wind Jet Existing

Lease 1

210 (CFM -5A) AERLS 2007-1 ABS Portfolio Sparhorn Avion Capital

Partners Purchased 1

210 (CFM -5A) FG Wing Leasing Jordan Aviation Jordan Aviation Purchased 1

210 (CFM -5A) GA Telesis Infinity Trading & Solutions

Infinity Trading & Solutions Purchased 1

210 (CFM -5A) Santos Dumont Aircraft Mgmt. Unannounced Unannounced Purchased 1

210 (CFM) Air France Celestial Aviation Trading 52 Air France SLB delivery 1

210 (CFM) Air France Chishima Real Estate Air France SLB delivery 1

210 (CFM) Celestial Aviation Trading 73

AWAS Aviation Leasing (4294) Belair Existing

Lease 1

210 (CFM) General Electric Capital Corp CDB Leasing Company Cebu Pacific Air Existing

Lease 1

210 (CFM) General Electric Capital Corp CDB Leasing Company Juneyao Airlines Existing

Lease 2

210 (CFM) General Electric Capital Corp CDB Leasing Company Orbest Espana Existing

Lease 2

210 (CFM) General Electric Capital Corp CDB Leasing Company Spring Airlines Existing

Lease 1

210 (CFM) General Electric Capital Corp

China World Aviation Leasing Air China Existing

Lease 2

210 (CFM) LAN Airlines AWAS LAN Airlines SLB delivery 1 210 (CFM) LAN Airlines AWAS 5178 LAN Airlines SLB delivery 1

210 (CFM) Mitsui Sumitomo Trust Panasonic Finance ILFC ILFC Purchased 2

210 (CFM) Niki MCAP Europe MC Aviation Partners/Mitsubishi Purchased 1

210 (CFM) Niki OLT Express Poland OLT Express Poland Purchased 1

210 (CFM) RPK Capital Mgmt. Group Air Salvage Int’l Air Salvage Int’l Purchased 1

210 (CFM) TAM Linhas Aereas Avolon Aerospace Leasing TAM Linhas Aereas SLB delivery 3

230 (IAE -A1) ACG Acquisition 169 Interjet Interjet Purchased 1

230 (IAE -A1) AWAS Ireland Leasing Eight Gomera Trading Aviatrans K Purchased 2

230 (IAE) Crescent Leasing 10 CDB Leasing Company IndiGo Existing Lease 1

230 (IAE) Crescent Leasing 7 CDB Leasing Company IndiGo Existing Lease 1

230 (IAE) IndiGo Dungloe Aviation IndiGo SLB delivery 1

230 (IAE) IndiGo MC Aviation Partners/Mitsubishi IndiGo SLB delivery 1

230 (IAE) IndiGo MSN 5155 - I Spring IndiGo SLB delivery 1 230 (IAE) Qantas Century Tokyo Leasing Jetstar Japan SLB delivery 2 230 (IAE) Shenzhen Airlines BoCom Leasing Shenzhen Airlines SLB delivery 1

230 (IAE) Spirit Airlines Avolon Aerospace Leasing Spirit Airlines SLB delivery 1

230 (IAE) Spirit Airlines NAS Investments 7 Inc Spirit Airlines SLB delivery 1



Airbus A320-200, Q3 2012

Variant Vendor Buyer New Operator Transaction Qty.

230 (IAE) Tiger Airways MCAP Europe Tiger Airways SLB delivery 1 230 (IAE) Tiger Airways Pembroke Group Mandala Airlines SLB delivery 1

230 (IAE) Volaris Jackson Square Aviation Volaris SLB delivery 1

230 (IAE) Wizz Air Avolon Aerospace Leasing Wizz Air SLB delivery 3

*SLB=sale and leaseback *SLB delivery=sale and leaseback on delivery Leases

During Q2 2012, we registered a total of 35 Airbus A320-200 dry-leases (sub-leases not included):

Variant Lessee Lessor Transaction Qty.

210 (CFM -5A) Smartlynx AWAS Leased in 1 210 (CFM) Air Corsica Volito Aviation Services AB Leased in 2 210 (CFM) Brussels Airlines GECAS Leased in 1 210 (CFM) Chengdu Airlines GECAS Leased in 1 210 (CFM) Citilink ILFC Leased in 1 210 (CFM) Citilink ILFC Leased in 2 210 (CFM) Frontier Airlines AerCap Leased in 1 210 (CFM) Hamburg Airways GECAS Leased in 1

210 (CFM) OLT Express Poland MC Aviation Partners/Mitsubishi Leased in 1

210 (CFM) VivaColombia GECAS Leased in 2 210 (CFM) VivaColombia RBS Aviation Capital Leased in 1

230 (IAE -A1) Avion Express World Star Aviation Leased in 1 230 (IAE -A1) Sky Wings Asia Airlines ILFC Leased in 1

230 (IAE) Astra Airlines ILFC Leased in 1 230 (IAE) Atlasjet Airlines AerCap Leased in 1

230 (IAE) Atlasjet Airlines Sumisho Aircraft Asset Mgmt. Leased in 1

230 (IAE) Bingo Airways MC Aviation Partners/Mitsubishi Leased in 1

230 (IAE) Citilink Aviation Capital Group Leased in 1 230 (IAE) Citilink BOC Aviation Leased in 1

230 (IAE) Livingston Compagnia Aerea BBAM Leased in 1

230 (IAE) Livingston Compagnia Aerea RBS Aviation Capital Leased in 1

230 (IAE) Onur Air ILFC Leased in 2 230 (IAE) Royal Brunei Airlines CIT Aerospace Leased in 1 230 (IAE) Vueling Airlines ILFC Leased in 6 230 (IAE) Yamal Airlines Aviation Capital Group Leased in 1 230 (IAE) Zest Air Sky Holding Leased in 1



Airbus A320-200, Q3 2012

Lease Returns

We observed the following lease returns for the Airbus A320-200 during Q2 2012:

Variant Lessee Manager Transaction Qty.

210 (CFM -5A) Afriqiyah Airways Nouvelair Tunisie Returned 1 210 (CFM -5A) FlyAruba AerCap Repossessed 1 210 (CFM -5A) Sudan Airways Petra Airlines Returned 1

210 (CFM) airberlin GECAS Returned 1 210 (CFM) airberlin Volito Aviation Services AB Returned 2

210 (CFM) ANA - All Nippon Airways Mitsui Sumitomo Trust Panasonic Finance Returned 2

210 (CFM) Andes Lineas Aereas GECAS Returned 1 210 (CFM) Bahrain Air ILFC Returned 1 210 (CFM) Gulf Air GECAS Returned 1 210 (CFM) Iceland Express GECAS Returned 1 210 (CFM) USA 3000 Airlines AerCap Returned 1 210 (CFM) USA 3000 Airlines RBS Aviation Capital Returned 1 210 (CFM) Vietnam Airlines GECAS Returned 2

230 (IAE -A1) Aria Air Khors Aircompany Returned 1 230 (IAE) Air VIA Macquarie AirFinance Returned 1 230 (IAE) Batavia Air CIT Aerospace Returned 2 230 (IAE) Kingfisher Airlines BBAM Returned 2 230 (IAE) Kingfisher Airlines ILFC Returned 1 230 (IAE) Kingfisher Airlines RBS Aviation Capital Returned 1 230 (IAE) Kingfisher Airlines Volito Aviation Services AB Returned 1 230 (IAE) Lufthansa bmi - British Midland Int’l Returned 1 230 (IAE) Pegasus Airlines MC Aviation Partners/Mitsubishi Returned 1

Retirements

We observed the following retirements for the Airbus A320-200 during Q2 2012:

Variant Operator Manager Vintage Qty.

210 (CFM -5A) Air France Air France 1989 1 210 (CFM -5A) FL Technics (Lithuania) FL Technics (Lithuania) 1992 1 210 (CFM -5A) Infinity Trading & Solutions Infinity Trading & Solutions 1991 1 230 (IAE -A1) Air India Air India 1989 4 230 (IAE -A1) Interjet Interjet 1991 1

Future Activity

■ Avianca is scheduled to lease 2 -210 (CFM) in Q3 2012.

■ Lucky Air is scheduled to lease 1 -210 (CFM) from Hainan Airlines in Q3 2012.

■ Cebu Pacific Air is scheduled to purchase 2 -210 (CFM) in Q3 2012.

■ Avianca is scheduled to purchase 1 -210 (CFM) from its subsidiary in Q3 2012.

■ Ural Airlines is scheduled to lease 1 -210 (CFM) from SMBC Aviation Capital in Q4 2012. The aircraft is owned by Zen Nikku Caribbean Leasing.

■ Air Salvage International is scheduled to have 1 -210 (CFM) permanently withdrawn from service in Q3 2012.



Airbus A320-200, Q3 2012

■ Avianca (1), VivaColombia (1), Citilink (1) and Afriqiyah Airways (2) are scheduled to have their -210 (CFM) returned/enter service in Q3 2012.

■ Interjet (2) and Cebu Pacific Air (1) are scheduled to purchase -210 (CFM) in Q4 2012.

■ SAS is scheduled to lease 1 -230 (IAE) from GECAS in Q4 2012.

■ Atlasjet Airlines (1), Vueling Airlines (1), Yamal Airlines (2) and Citilink (1) are scheduled to lease -230 (IAE) aircraft in Q3 2012.

■ Kingfisher and SAS each have 2 -230 (IAE) scheduled to be returned to service in Q3 2012.

■ Monarch Airlines is scheduled to park 1 -210 (CFM-5A) in Q3 2012.

■ Cosmo Airlines is scheduled to lease 1 -210 (CFM-5A) from ILFC in Q3 2012.

■ WOW air is scheduled to lease 2 -210 (CFM-5A) from Avion Capital Partners in Q3 2012.

■ Avion Express is scheduled to lease 1 -210 (CFM-5A) from Avion Capital Partners in Q3 2012.

■ Macquarie AirFinance and AeroTurbine each have 1 -210 (CFM-5A) scheduled to be permanently withdrawn from service in Q3 2012.

■ FirstNation Airways in Nigeria is scheduled to return 3 -210 (CFM-5A) to service in Q3 2012.

■ Egyptair and Air Moldova each have 1 -230 (IAE-A1) scheduled to be returned/entered service in Q3 2012.

AIRBUS A320-200 STORAGE Source: Ascend Online Fleets The number of stored aircraft is still at a low level of around 3% of the total fleet, which is lower than Q2 2012.

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20

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1998 2000 2002 2004 2006 2008 2010 Current

No

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raft

A320-200 Stored Fleet Development

Sto red Sto red Fleet Sh are

There are 90 aircraft in storage, including 31 A320-230 (IAE) aircraft, 25 A320-210 (CFM-5A) aircraft, 19 A320-230 (IAE-A1) aircraft and 15 A320-210 (CFM) aircraft. Of these, 14 are scheduled to return to service, 7 are to be placed with new lessee(s) and 3 are scheduled to be retired:

Variant Operator Manager Event Qty.

210 (CFM -5A) AerCap AerCap - 1 210 (CFM -5A) AeroTurbine Inc ILFC Sched. retirement 1 210 (CFM -5A) AerSale AerSale - 1 210 (CFM -5A) Air France Air France - 3 210 (CFM -5A) Air Sweden Air Sweden - 1 210 (CFM -5A) Apollo Aviation Group Apollo Aviation Group - 2 210 (CFM -5A) Avion Capital Partners Avion Capital Partners To be leased in 1 210 (CFM -5A) Donbassaero AerCap - 1



Airbus A320-200, Q3 2012


210 (CFM -5A) First Nation Airways Aviation Capital Group To return / enter service 3

210 (CFM -5A) FL Technics (Lithuania) FL Technics (Lithuania) - 1 210 (CFM -5A) GA Telesis GA Telesis - 1 210 (CFM -5A) GECAS GECAS - 1 210 (CFM -5A) Iberia Iberia - 1 210 (CFM -5A) ILFC ILFC - 1 210 (CFM -5A) Jordan Aviation Jordan Aviation - 1 210 (CFM -5A) KJ Aviation Services Inc KJ Aviation Services Inc - 1 210 (CFM -5A) Macquarie AirFinance Macquarie AirFinance Sched. retirement 1 210 (CFM -5A) SouthJet One SouthJet One - 1 210 (CFM -5A) Unannounced Unannounced - 1 210 (CFM -5A) Vladivostok Air ILFC To be leased in 1

210 (CFM) Aer Lingus Aer Lingus - 1 210 (CFM) Aer Lingus CIT Aerospace - 1

210 (CFM) Afriqiyah Airways Afriqiyah Airways To return / enter service 2

210 (CFM) Air Salvage Int’l Air Salvage Int’l Sched. retirement 1

210 (CFM) Avianca GECAS To return / enter service 1

210 (CFM) Citilink ILFC To return / enter service 1

210 (CFM) GECAS GECAS - 2 210 (CFM) Heraymila Leasing 1735 Heraymila Leasing 1735 - 1 210 (CFM) Macquarie AirFinance Macquarie AirFinance - 2 210 (CFM) SouthJet Two SouthJet Two - 1 210 (CFM) Unannounced Unannounced - 1

210 (CFM) VivaColombia GECAS To return / enter service 1

230 (IAE -A1) AeroTurbine Inc ILFC - 1

230 (IAE -A1) Air Moldova ILFC To return / enter service 1

230 (IAE -A1) BBAM BBAM - 1

230 (IAE -A1) Egyptair Egyptair To return / enter service 1

230 (IAE -A1) Jetran Int’l Jetran Int’l - 1 230 (IAE -A1) Macquarie AirFinance Macquarie AirFinance - 1 230 (IAE -A1) Mexicana Mexicana - 10 230 (IAE -A1) TAM Linhas Aereas GMT Global Republic Aviation - 1 230 (IAE -A1) Volito Aviation Services AB Volito Aviation Services AB - 2

230 (IAE) AerCap AerCap - 3 230 (IAE) AerCap AerCap To be leased in 1 230 (IAE) Air Memphis PK AirFinance - 1 230 (IAE) Aviation Capital Group Aviation Capital Group - 1 230 (IAE) Aviation Capital Group Aviation Capital Group To be leased in 3 230 (IAE) BBAM BBAM - 2 230 (IAE) CIT Aerospace CIT Aerospace - 2 230 (IAE) ILFC ILFC - 4 230 (IAE) ILFC ILFC To be leased in 1



Airbus A320-200, Q3 2012


230 (IAE) Iran Air Iran Air - 1 230 (IAE) Kingfisher Airlines Air Lease - 1

230 (IAE) Kingfisher Airlines Aviation Capital Group To return / enter service 1

230 (IAE) Kingfisher Airlines ILFC To return / enter service 1

230 (IAE) Kingfisher Airlines Kingfisher Airlines - 1 230 (IAE) Macquarie AirFinance Macquarie AirFinance - 1

230 (IAE) SAS ORIX Aviation To return / enter service 2

230 (IAE) SMBC Aviation Capital SMBC Aviation Capital - 1 230 (IAE) Spanair ITOCHU AeroTech - 2 230 (IAE) Volito Aviation Services AB Volito Aviation Services AB - 1 230 (IAE) Wind Jet ILFC - 1

AIRBUS A320-200 AVAILABILITY Source: Airfax We are aware of at least 37 A320-200 aircraft being publicly marketed as available for sale or lease, including:

Variant YOB Listed by Availability From Note

230 (IAE) 2007 Amentum Capital Lease Q1 2013 Two aircraft

210 (CFM) 2005/2006 Airbus Sale Q1 & Q2 2013 Two aircraft

210 (CFM) 1999 Avinco Sale Immediately -

210 (CFM) 2000/2001 Sumisho Aircraft Sale Q4 2012 & Q1 2013 Four aircraft

230 (IAE-A1) 1992 BBAM Sale Immediately -

230 (IAE) 2006 Macquarie AirFinance Sale/ Lease Immediately -

210 (CFM) 2005 DVB Lease Immediately -

230 (IAE) 1997 Aircastle Lease Q4 2012 Fresh C-check

210 (CFM-5A) 1989 Sage-Popovich Sale/Lease Immediately EU-Ops 1

210 (CFM) 1996 GECAS Sale Immediately -

230 (IAE-A1) 1992 Macquarie AirFinance Sale Immediately -

230 (IAE-A1) 1992 Cabot Aviation Sale Immediately Fresh C-check

230 (IAE) 2005/2006 ALAFCO Sale/Lease Immediately Two aircraft

230 (IAE) 2001 Avinco Sale/Lease Immediately EU-Ops 1

210 (CFM) 2007 Sumisho Aircraft Sale Immediately -

200 1991 Orix Aviation Sale Immediately With no engines, airframe only

210 (CFM-5A) 1992 Icelandic Aircraft Management Sale/Lease Immediately -



Airbus A320-200, Q3 2012

Variant YOB Listed by Availability From Note

210 (CFM-5A) 1990 GA Telesis Sale/Lease Immediately -

210 (CFM) 1993 AeroTurbine Sale Immediately -

210 (CFM) 1999 Cordner Aviation Group Sale Q4 2012 Two aircraft, EU-Ops 1

210 (CFM) 2002 Airstream International Lease Q4 2012 -

210 (CFM) 1997 Sojitz Aircraft Leasing Sale/Lease Immediately -

210 (CFM) 2005/2006 SAC Aviation Consulting Sale Immediately Two aircraft, sale with five-

year lease attached

230 (IAE) 2005 Volito Aviation Lease Immediately -

230 (IAE) 2006 DVB Sale/Lease Immediately -

230 (IAE) 2005 Cabot Aviation Sale See note Immediate sale with lease attached until Q2 2013, or

available for sale in Q2 2013

230 (IAE) 2000 Airfleet Resources Sale Immediately -

AIRBUS A320-200 FLEET OVERVIEW Source: Ascend Online Fleets There are 2,780 A320-200 aircraft in passenger service with 217 airline and non-airline operators, including 289 CFM56-5A and 74 IAE V2500-A1 powered variants, alongside 1,331 later-model CFM-5B powered and 1,086 IAE-A5 powered aircraft. In addition, there are 90 aircraft currently in storage (25 CFM56-5A, 19 IAE V2500-A1, 15 CFM-5B and 31 IAE-A5). There are 2,744 A320 aircraft on order. These include 1,441 -200 variants comprising 610 CFM (99 with sharklets), 592 IAE (44 with sharklets) and 239 with engines to be announced (30 with sharklets). A320neo orders are for 546 CFM-powered, 444 P&W-powered and 313 with engines to be announced.

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1983 1986 1989 1992 1995 1998 2001 2004 2007 2010

A320-200 Fleet Development

In Service On Order



Airbus A320-200, Q3 2012

Regional Distribution

There are 4,904 Airbus A320-200 aircraft in-service/on order with airline operators, including 2,002 aircraft with 68 carriers in Asia-Pacific, 1,253 aircraft with 87 carriers in Europe, 798 aircraft with 9 carriers in North America, 442 aircraft with 18 carriers in Latin America and the Caribbean, 301 aircraft with 22 carriers in the Middle East and 108 aircraft with 18 carriers in Africa.

Asia-Pacific41%

Europe26%

N. America16%

Lat. Am & Carib9%

Middle East6%

Africa2%

Airbus A320-200 Fleet Distribution (In Service / On Order)

Top Carrier and Operating Lessor Distribution

The main Airbus A320-200 carriers and operating lessors are presented in the following tables:

Top 5 A320-200 Airline Operators

(In Service / On Order) Qty.

AirAsia 329 IndiGo 255 Jetstar 186

JetBlue Airways 181 TAM Linhas Aereas 143

TOTAL 1094

Top 5 A320-200 Operating Lessors

(In Service / On Order) Qty.

GECAS 405 ILFC 244

CIT Aerospace 133 Aviation Capital Group 129

ALAFCO Aviation Lease and Finance Company 115

TOTAL 1026

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