company presentation 2011

Presentation 2011

www.pkair.com

GE Capital Aviation Services

PK AirFinance

PK AIRFINANCE

PK AirFinance is a leading provider and arranger of asset based loans secured by commercial jet aircraft.

PK AirFinance serves airlines, aircraft traders, lessors, investors, financial institutions and manufacturers worldwide.

PK AirFinance is affiliated with GE Capital Aviation Services (GECAS).

imagination at work

GECAS

GE Capital Aviation Services is a leading aircraft lessor with 1,800+owned and managed commercial jets.

GECAS has 40+ years of experience.

GECAS serves 245+ airline customers in more than 75 countries.GECAS has 50+ leasing executives in 25 offices worldwide.GECAS is supported by a best-in-class team of 100+ highly experienced aircraft and aircraft systems engineers.

GECAS is wholly owned by General Electric.

PK PRODUCTS

Senior Mortgage LoansFull payout

Balloon loans

Non-recourse loans

Finance Leases

Conditional Sales

Stand-by Facilities

Junior Loans

Warehouse Financing

Asset Value Guarantees

Purchase of Loans

We include features such as

Floating/Fixed Interest RateMixed CurrenciesLimited RecourseEarly Termination and Extension Options

To structure an optimal solution for everytransaction, we consider

Accounting TreatmentTax TreatmentLegal StructureAsset RiskCredit RiskCurrency RiskInterest Rate RiskSeasonal Cash Flows

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PK AirFinance Company Presentation 2011

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PK PORTFOLIO

PORTFOLIO VOLUME SPLIT BY AIRCRAFT TYPE PORTFOLIO VOLUME SPLIT BY PRODUCT TYPE PORTFOLIO VOLUME SPLIT BY OPERATOR REGION

North America41%

Europe34%

Middel East, Africa, CIS

11%

Asia9%

Latin America5%

Airline Loans58%JOL

Loans19%

Investor Loans23%

Aircraft

A319-10016%

EMB-170/1755%

EMB-1350 1%

ATR72-5001.2%

EMB-1904%

0.1%

CRJ-7001%

B777-200Regional12%

A320-20020%

A321B757-200

B767-300ER5%

10%

Boeing45%

Airbus43%

A3214%

A330-3002%

B737-9000 9%

B747-4005%

4%

B737-300B737-7003%

B737-6000 4%

B737-5001%

B737-400

A340-2001%

B737-80015%

0.9%

3% 0.4% 1% 0.3%

Aircraft

A319-10016%

EMB-170/1755%

EMB-1350 1%

ATR72-5001.2%

EMB-1904%

0.1%

CRJ-7001%

B777-200Regional12%

A320-20020%

A321B757-200

B767-300ER5%

10%

Boeing45%

Airbus43%

A3214%

A330-3002%

B737-9000 9%

B747-4005%

4%

B737-300B737-7003%

B737-6000 4%

B737-5001%

B737-400

A340-2001%

B737-80015%

0.9%

3% 0.4% 1% 0.3%

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TRANSACTIONS2009 TRANSACTIONS American Airlines 2 B737-800W Senior LoanAmerican Airlines 6 B757-200 Senior LoanAmerican Airlines 3 B767-300ER Senior LoanAmerican Airlines 2 B777-200 Senior LoanGulf Air 2 A320-200 Mortgaged Operating Lease DebtHainan 1 B737-700 Mortgaged Operating Lease DebtKLM 5 B747-400 Mortgaged Operating Lease DebtOlympic Air 3 A320-200 Mortgaged Operating Lease DebtOman Air 1 B737-800W Mortgaged Operating Lease DebtPT Lion 2 B737-400 Senior LoanRyanair 1 B737-800W Mortgaged Operating Lease DebtSky Mark 1 B737-800W Mortgaged Operating Lease DebtTHY 1 B737-800W Mortgaged Operating Lease DebtTransavia France 1 B737-800W Mortgaged Operating Lease DebtTUI 3 B737-800W Mortgaged Operating Lease Debt US Airways 1 A321-200 Senior Loan

2008 TRANSACTIONS Aer Arann 2 ATR72-500 Senior LoanAeroflot-Don 1 B737-500 Mortgaged Operating Lease DebtAeroflot-Nord 1 B737-500 Mortgaged Operating Lease DebtAerolineas Argentinas 2 B737-500 Senior LoanAerolineas Argentinas 3 A340-200 Senior LoanAir Canada 2 EMB190 Senior LoanAir Madagascar 1 B767-300ER Mortgaged Operating Lease DebtAir Memphis 2 A320-200 Senior LoanAmerican Airlines 1 B737-800 Senior LoanAmerican Airlines 8 B757-200 Senior LoanAmerican Airlines 5 B767-300ER Senior LoanAmerican Airlines 5 B777-200IGW Senior Loan

Air Berlin 2 A320-200 Mortgaged Operating Lease DebtAir China 1 B737-800 Mortgaged Operating Lease DebtAir China 2 A320-200 Mortgaged Operating Lease DebtAlitalia 11 A319-100 Senior LoanAlitalia 3 A320-200 Senior LoanAlitalia 8 A321-100 Senior LoanBelle Air 1 A319-100 Mortgaged Operating Lease DebtBritish Airways 1 A320-200 Mortgaged Operating Lease DebtBrussels Airline 3 A330-200 Mortgaged Operating Lease DebtCCM 2 A319-100 Mortgaged Operating Lease DebtChengdu 1 A319-100 Mortgaged Operating Lease DebtChina Eastern 2 A319-100 Mortgaged Operating Lease DebtComair 1 B737-800 Mortgaged Operating Lease DebtCOPA 2 B737-700 Mortgaged Operating Lease DebteasyJet 5 A319-100 Mortgaged Operating Lease DebtEurope Airpost 2 B737-700 Mortgaged Operating Lease Debtfly Dubai 3 B737-800 Mortgaged Operating Lease DebtGaruda 2 B737-800 Mortgaged Operating Lease DebtJet Airways 1 B737-800 Mortgaged Operating Lease DebtKalitta 2 B747-400BCF Senior LoanKingfisher 1 A320-200 Mortgaged Operating Lease DebtLuxair 1 B737-800 Mortgaged Operating Lease DebtNordStar 2 B737-800 Mortgaged Operating Lease DebtOrenburg 1 B737-800 Mortgaged Operating Lease DebtSAS 1 B737-600 Mortgaged Operating Lease DebtSAS 1 B737-700 Mortgaged Operating Lease DebtSky Airlines 2 B737-800 Mortgaged Operating Lease DebtSkymark 1 B737-800 Mortgaged Operating Lease DebtSpiceJet 3 B737-800 Mortgaged Operating Lease DebtTAM 1 A319-100 Mortgaged Operating Lease DebtTarom 1 B737-800 Mortgaged Operating Lease DebtThomson Airways 1 B767-300ER Mortgaged Operating Lease DebtTransavia 1 B737-800 Mortgaged Operating Lease DebtUS Airways 2 A320-200 Mortgaged Operating Lease DebtVirgin America 1 A320-200 Mortgaged Operating Lease DebtWizz Air 1 A320-200 Mortgaged Operating Lease Debt

2010 TRANSACTIONS

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US Airways 1 A320-200 Mortgaged Operating Lease DebtUS Airways 4 B737-400 Mortgaged Operating Lease DebtUS Airways 1 A330-300 Mortgaged Operating Lease DebtUT Air 3 737-500 Senior Loan

2007 TRANSACTIONSAeroflot-Don 1 B737-500 Mortgaged Operating Lease DebtAir Asia 1 B737-300 Mortgaged Operating Lease DebtAir Canada 16 EMB190 Senior Loan Air Europa 1 B737-800 Mortgaged Operating Lease DebtAir One 1 B737-400 Senior LoanAIitalia 2 A321-100 Senior LoanAIitalia 1 A321-100 Mortgaged Operating Lease DebtAll Nippon Airways 4 B737-500 Mortgaged Operating Lease DebtBlue Wing 5 A320-200 Senior LoanBluebird Cargo 2 B737-400SF Senior LoanBMI 1 B737-500 Mortgaged Operating Lease DebtNot Disclosed 34 various Guarantee GivenBrussels Airlines 3 A330-300 Mortgaged Operating Lease DebtClickair 4 A320-200 Mortgaged Operating Lease DebtCSA 1 B737-400 Mortgaged Operating Lease DebtDelta Airlines 9 B757-200 Senior LoaneasyJet Airline Company Ltd 3 A319-100 Senior LoanEurope Airpost 3 B737-300QC Mortgaged Operating Lease DebtFinnair 1 A319 Mortgaged Operating Lease DebtFirst Choice 1 B767-300ER Mortgaged Operating Lease DebtGOL Transportes Aereos Ltd 1 B767-300ER Senior LoanHainan Airlines 3 B737-800 Senior LoanIBERIA 2 A319 Mortgaged Operating Lease Debt

Asiana Airlines 1 B737-500 Senior LoanBlue Wings 2 A320-200 Mortgaged Operating Lease DebtBritish Midland 1 B737-300 Mortgaged Operating Lease DebtCargoJet 1 B757-200SF Mortgaged Operating Lease DebtDelta 10 B767-300ER Senior LoanDelta 2 B737-800 Senior LoanDelta 2 B777-200LR Senior LoanDelta 17 B757-200 Mortgaged Operating Lease DebtDelta 3 B757-200 Mortgaged Operating Lease DebtDelta 1 B767-300ER Senior LoaneasyJet Airline 3 A319-100 Senior LoanGulf Air 2 A320-200 Senior LoanKalitta 2 B747-400BCF Senior LoanKD Avia 1 B737-300 Mortgaged Operating Lease DebtLivingston 1 A321-200 Senior LoanLTU 1 A330-300 Mortgaged Operating Lease DebtMacedonian Airlines 1 B737-500 Senior LoanQ Aviation various Senior LoanRossiya 3 A319 Senior LoanSAS 1 B737-500 Mortgaged Operating Lease DebtSky Airlines 1 A321-200 Senior LoanSkybus 1 A319 Senior LoanTAM 1 A320-200 Senior LoanTransaero 4 767-300 Mortgaged Operating Lease DebtTransaero 2 B777-200 Mortgaged Operating Lease DebtUnited 2 B777-200ER Senior LoanUnited 26 A320/319 Senior LoanUS Airways 2 A320-200 Mortgaged Operating Lease DebtUS Airways 6 CRJ700 Senior LoanUS Airways 3 B757 Senior Loan

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2006 TRANSACTIONSAeroflot 2 B767-300ER Mortgaged Operating Lease DebtAeromexico 1 B737-700 Mortgaged Operating Lease DebtAir Berlin 1 B737-800 Mortgaged Operating Lease DebtAir Canada 1 EMB175 Secured Term LoanAir Europa 1 B737-800 Mortgaged Operating Lease DebtAlitalia 2 A321-100 Mortgaged Operating Lease DebtANA 3 A320-200 Mortgaged Operating Lease DebtBlue Air 1 B737-400 Mortgaged Operating Lease DebtBraathens ASA 1 B737-400 Mortgaged Operating Lease DebtClickair 1 A320-200 Mortgaged Operating Lease DebtContinental Airlines 3 B737-800 Mortgaged Operating Lease DebtCOPA 4 EMB-190 Secured Term LoanDonbassaero 1 B737-400 Mortgaged Operating Lease DebteasyJet 5 A319-100 Secured Term LoaneasyJet 3 A319-100 Mortgaged Operating Lease DebtFirst Choice 2 B757-200 Mortgaged Operating Lease DebtFutura 1 B737-800 Mortgaged Operating Lease DebtGB Airways 1 A320-201 Mortgaged Operating Lease DebtHainan Airlines 1 B737-800 Mortgaged Operating Lease DebtIberia 2 A320 Mortgaged Operating Lease DebtIcelandair 1 B757-200F Secured Term LoanIcelandair 1 B767-300ER Mortgaged Operating Lease Debt

Jet Lite 1 B737-800 Mortgaged Operating Lease DebtKaliningradavia 2 B737-300 Senior LoanLAN Chile 1 B767-300ER Mortgaged Operating Lease DebtLOT 1 B767-300ER Senior LoanMeridiana 3 A319-100 Mortgaged Operating Lease DebtMyTravel 2 A321-200 Mortgaged Operating Lease DebtNationwide 2 B737-500 Senior LoanNorthwest 15 A320-200 Senior LoanOcean Air 1 B757-200ER Senior LoanOcean Air 1 B767-300ER Senior LoanRepublic 8 EMB-175 Senior LoanSibir S7 9 A319 Senior LoanSkybus 1 A319 Senior LoanSouthwest 1 B737-300 Senior LoanSpicejet 1 B737-800 Senior LoanTAM Linhas Aereas 2 A320-200 Senior LoanTAM Linhas Aereas 1 A320-200 Mortgaged Operating Lease DebtTransavia 3 B737-800 Senior LoanTUI 1 B737-800 Mortgaged Operating Lease DebtTUI 1 B737-500 Senior LoanUkraine International 1 B737-400 Mortgaged Operating Lease DebtUral Air 1 A320-200 Mortgaged Operating Lease DebtUS Airways 4 B767-200 Mortgaged Operating Lease DebtUS Airways 4 B737-300 Mortgaged Operating Lease DebtUS Airways 3 B737-500 Mortgaged Operating Lease DebtXL Airways 1 B767-300ER Senior Loan

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2005 TRANSACTIONS Aeroflot 2 B767-300ER Mortgaged Operating Lease DebtAigle Azur 1 A320-200 Mortgaged Operating Lease DebtAir Canada 14 EMB175 Secured Term LoanAir Canada 2 B767-300 Mortgaged Operating Lease DebtAir China 1 B747-400SF Mortgaged Operating Lease DebtAir One SpA 1 B737-400 Secured Term LoanAlitalia 11 A319-100 Secured Term LoanAlitalia 8 A321-100 Secured Term LoanAlitalia 1 A320-200 Secured Term LoanAlitalia 2 B767-300 Secured Term LoanAlitalia 6 EMB145 Secured Term LoanBritish Airways 1 B737-500 Mortgaged Operating Lease DebtBritish Airways Various Secured Stand-By FacilityBritish Airways 1 B737-500 Mortgaged Operating Lease DebBritish Midland 1 B737-300 Mortgaged Operating Lease DebtChina Southern 2 B757-200 Mortgaged Operating Lease DebtCOPA 2 EMB-190 Secured Term LoanCzech Airlines 1 B737-500 Mortgaged Operating Lease DebteasyJet 2 A319-100 Senior LoanEVA Airways 2 B767-300ER Mortgaged Operating Lease DebtFirst Choice 1 B757-200 Mortgaged Operating Lease DebtFirst Choice 1 B757-200ER Mortgaged Operating Lease DebtGOL Transportes Aereos 2 B737-700 Mortgaged Operating Lease DebtGOL Transportes Aereos 3 B737-300 Mortgaged Operating Lease DebtHainan Airlines 2 B737-700 Mortgaged Operating Lease DebtHainan Airlines 2 B737-800 Mortgaged Operating Lease DebtKD Avia 3 B737-300 Mortgaged Operating Lease DebtNorwegian Air Shuttle 1 B737-300 Mortgaged Operating Lease DebtRepublic Airlines 1 EMB170s Secured Term LoanSahara Airlines 2 B737-800 Mortgaged Operating Lease DebtSichuan Airlines 1 A320-200 Mortgaged Operating Lease Debt

JetBlue 3 A320-200 Secured Term Loan ParticipationKD Avia 5 B737-300 Mortgaged Operating Lease DebtKartagho Airlines 1 A320-200 Secured Term LoanKTHY 2 B737-800 Mortgaged Operating Lease DebtKorean Airlines 1 B737-800 Mortgaged Operating Lease DebtLTU 3 A330-300 Mortgaged Operating Lease DebtMartinair 2 B747-400SF Mortgaged Operating Lease DebtNorwegian Air Shuttle 1 B733-300 Mortgaged Operating Lease DebtPegasus 1 B737-800 Mortgaged Operating Lease DebtRoyal Air Brunei 6 B767-300ER Mortgaged Operating Lease DebtRyanair 1 B737-800 Mortgaged Operating Lease DebtSAS 3 B737-700 Mortgaged Operating Lease DebtSAS 1 B737-600 Mortgaged Operating Lease DebtSibir S7 10 A319-100 Mortgaged Operating Lease DebtSibir S7 7 B737-500 Mortgaged Operating Lease DebtSpicejet 1 B737-800 Mortgaged Operating Lease DebtTACA 1 A320-200 Mortgaged Operating Lease DebtTAP 1 A319-100 Mortgaged Operating Lease DebtTUI 1 B737-300 Mortgaged Operating Lease DebtUnited Airlines 5 B737-300 Mortgaged Operating Lease DebtUral Air 1 A320-200 Mortgaged Operating Lease DebtUSA3000 1 A320-200 Mortgaged Operating Lease DebtGenesis Leasing Various Liquidity FacilityUndisclosed 5 B747-400SF Secured Term LoanVIM-Avia 4 B757-200 Mortgaged Operating Lease DebtWestjet 1 B737-700 Mortgaged Operating Lease DebtXL Airways 1 B737-800 Mortgaged Operating Lease Debt

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Transaero Airlines 1 B737-400 Operating Lease DebtTUI 1 B737-800 Operating Lease FinancingTurk Hava Yollari 1 A320-200 Operating Lease Financing

2003 TRANSACTIONSAir 2000 1 B757-200ER Operating Lease DebtAir France 1 A320-200 Operating Lease DebtBraathens ASA 2 B737-700 Operating Lease DebtBritannia Airways AB 1 B757-200ER Operating Lease DebtBritish Airways 3 A320-200 Operating Lease DebtBritish Airways 2 A320 Operating Lease DebtBritish Midland 1 B737-500 Operating Lease DebtDelta Air Lines 5 B767-400ER Secured Term LoanDelta Air Lines 9 B767-400 Secured Letter Of Credit FacilityDelta Air Lines 3 B777-200ER Secured Letter Of Credit FacilityeasyJet 1 B737-700 Operating Lease DebtHainan Airlines 3 B737-300QC Operating Lease DebtIcelandair 1 B757-200ER Operating Lease DebtLTU 2 A320-200 Secured Term LoanLTU 2 A321-200 Secured Term LoanLuxair 2 B737-400 Operating Lease DebtTUI 3 B737-800 Operating Lease DebtUnited Airlines 3 Various Liquidity Facility Virgin Express 1 B737-400 Operating Lease Debt

Singapore Airlines 1 747-400 Mortgaged Operating Lease DebtSpicejet 1 B737-800 Mortgaged Operating Lease DebtTAM Linhas Aereas 2 A320-200 Finance LeaseTUI 1 B757-200ER Mortgaged Operating Lease DebtTUI 2 B737-800 Mortgaged Operating Lease DebtUndisclosed 2 B747-400 Bridge Loan

2004 TRANSACTIONSAir Berlin 1 B737-800 Operating Lease FinancingAir China 1 B747-400SF Operating Lease DebtAir France 1 A320-200 Operating Lease FinancingAir Palau 1 B737-300 Operating Lease DebtBritish Airways 1 B777-200ER Operating Lease DebtChina Eastern 1 A320-200 Operating Lease FinancingeasyJet 1 B737-700 Operating Lease FinancingeasyJet 1 A319-100 Secured Partial Recourse Term LoanLoan 6 A319-100 Operating Lease FinancingGulf Air 2 A320-200 Operating Lease DebtHainan Airlines 1 B737-300QC Operating Lease DebtKorean Airlines 1 B737-900 Secured Term LoanMartinair 1 MD-11F Operating Lease DebtMexicana 1 A320-200 Operating Lease DebtNorthwest 6 A330-200 Secured Term LoanNorthwest 3 A330-300 Secured Term LoanNorwegian Air Shuttle 1 B737-300 Operating Lease FinancingNorwegian Air Shuttle 1 B737-300 Operating Lease DebtPhilippine Airlines 1 A320-200 Operating Lease DebtRepublic Airlines 5 EMB170s Secured Term LoanSAS 2 B737-800 Operating Lease FinancingThompson.com 1 B737-500 Operating Lease Debt

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2001 TRANSACTIONS Aer Lingus 2 B737-800 Operating Lease DebtAeromexico 1 MD-82 Operating Lease DebtAeromexico 1 MD-87 Operating Lease DebtAir 2000 1 A321-200 Operating Lease DebtAircraft Exposure Management 7 B747-200F Mortgaged Credit FacilityAirtours 1 A321-200 Operating Lease DebtAmerica West 5 B737-300 Secondary Purchase of Debt CertificatesBoeing 1 B737-400 Operating Lease DebtBritish Airways 22 Various Mortgaged Credit FacilityBritish Midland 1 B737-300 Operating Lease DebtDelta Airlines 19 Various E-EETC B-trancheFalcon Air 1 B-737-300QC Operating Lease DebtFrontier Airlines 3 A319 Secured Term LoanFutura 1 B737-800 Operating Lease DebtIberia 1 A320-200 Operating Lease DebtJet Blue 1 A320-200 Junior DebtKorean Airlines 3 B737-800 Secondary Purchase of Debt CertificatesLuxair 1 B737-500 Operating Lease DebtMalaysian Airlines 1 B777-200 Loan ParticipationSAS 3 B737-600 Operating Lease DebtSky Airways 1 B737-300 Operating Lease DebtSouth African Airlink 2 EMB 135 Operating Lease DebtSwissair 1 A320-200 Operating Lease DebtTACA 1 A320-200 Secured Term LoanTAM 3 A330-200 Secured Term LoanUnited Airlines 1 B757-200 Secondary Purchase of Debt Certificates

2002 TRANSACTIONSAir Atlanta 1 B747-200F Operating Lease DebtAir Caledonia 1 B737-300 Operating Lease DebtAlitalia 5 A321-100 Secured Term LoanAmerica West 9 A319 EETC C-trancheAmerica West 5 A320-200 EETC C-trancheAsiana 1 B767-300ER Operating Lease DebtATA 9 B737-800 EETC C-trancheBlueBird Cargo 1 B737-300C Conditional SaleBraathens 1 B737-400 Operating Lease DebtDelta 19 Various E–EETC A-trancheeasyJet 3 B737-700 Operating Lease DebtIberia 2 A320-200 Operating Lease DebtJet Airways 4 B737-700 Secured Term LoanJetBlue Airways 2 A320-200 Secured Term LoanKTHY 2 B737-800 Operating Lease DebtLTU 2 A320-200 Secured Term LoanMy Travel 1 A321-200 Operating Lease DebtMy Travel 2 A320-200 Operating Lease DebtPegasus 1 B737-800 Operating Lease DebtSA Airlink 1 EMB135 Operating Lease DebtSilk Air 1 A320-200 Operating Lease DebtSkynet 1 B737-400 Operating Lease DebtSwiss 7 EMB145 Operating Lease DebtTAM 4 A320-200 Secured Term LoanTAP 3 A340-200 Secured Term LoanTUI 2 B737-800 Operating Lease DebtUnited Airlines 16 B757-200 USLL Debt PurchaseUnited Airlines 4 B737-300 USLL Debt PurchaseUnited Airlines 1 B737-500 USLL Debt PurchaseUnited Airlines 4 B777-200 Secured Term LoanUnited Airlines 9 A319 Secured Term LoanUnited Airlines 23 A320-200 Secured Term Loan

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COMPANY HISTORY

1979 PK Finans established in Luxembourg by PKbanken Sweden

1983 First aircraft financing (Martinair DC-10-30)

1985 First syndicated aviation facility (UAS Pool) Separate Air Group established

1988 85% of Air Group sold to Crédit Lyonnais (CL) Company renamed Crédit Lyonnais/PK Airfinance (CLPK)

1990 CLPK opens branch in New York

1991 Remaining 15% sold to CL Loss incurred. Changes in management. Recapitalization

1993 Asset Management Unit set up

1994 PK implements unique Risk-Reward tool (SAFE)

1996 CLPK opens office in Tokyo

1998 European Commission asks CL to sell CLPK PK closes first ever a/c backed CLO

2000 General Electric Capital Corporation buys CLPK Airfinance Company renamed PK AirFinance

2001 PK opens office in Toulouse

2004 Licenses its risk-reward diagnostics system (SAFE) to Boeing Capital

2005 Air Finance Journal European Deal of the Year Award for British Airways Secured Stand-By Facility

2010 PK AirFinance originates $1,400,000,000 in new volume Company reaches $7.5 billion in portfolio volume Cumulative origination reaches $24 billion PK AirFinance Japan becomes part of GE Japan Corporation

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AIRLINES(31/ Dec/2010)

AIRCRAFT(Collateral 31/Dec/2010)

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

Aer ArannAerolineas ArgentinasAeromexicoAir BerlinAir CanadaAir ChinaAir CorsicaAir EuropaAir MadagascarAir MemphisAir OneAirlinkAlitaliaAll Nippon AirwaysAmerican AirlinesAsianaAviancaBelle AirBluebird Cargobmi British MidlandBritish AirwaysBrussels AirlinesCargoJetChengdu AirlinesChina EasternComairContinentalCOPADelta AirDonaviaDonbassaero

easyJetEurope AirpostFinnairflyDubaiGarudaGOLHainanIberiaIndiGoJeJu AirJet 2Jet AirwaysJetBlueKalitta AirKingfisherKLMKorean AirLTULuxairOlympic AirMeridiana-FlyNordStarNouvelairOman AirOrenairPioneer AviationPT Lion MentariRepublicRoyal BruneiRyanairSAS

Sibir AirlinesSichuanSky AirlinesSkymarkSpanairSpiceJetTAMTAPTaromThomas Cook AirlinesThomson AirwaysTHYTiger AirwaysTransaeroTransaviaTransavia FranceTravel ServisTUI Travel plcUkraineUnitedUralUS AirwaysUSA 3000UTAirVirgin AmericaVuelingWestJetWizz Air

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THE BASIC STRUCTURES

22 PK AirFinance Company Presentation 2009

THE BASIC STRUCTURES

Airline Loan Investor Loan

PK AirFinance

Airline

Loan Mortgage

Airline

Loan Mortgage

PK AirFinance

SpecialPurpose

Company

Lease

Ass

ignm

ent

HOW WE CALCULATE THE ODDSHOW WE CALCULATE THE ODDS

Aircraft Value Projection

Outstanding Amount

With Confidence Bands

Balloon Recourse OrNon-Recourse

Airline PerformanceProbability

Asset Risk Credit Risk

PK AirFinance Company Presentation 2009 23

0 1 2 3 4 5 6 7 8 9 10 0 1 2 3 4 5 6 7 8 9 10

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BASIC DATAWE NEED TO DISCUSSYOUR TRANSACTIONTransactionFinanced amountCurrencyRepayment profileInterest rate basis(floating/fixed)

BorrowerNameFinancialsJurisdiction

AirlineNameFinancialsJurisdiction

AircraftTypeYear of manufactureSerial NumberRegistrationEngine TypeMax Take-Off WeightSpecificationsMaintenance Programand Condition

Underlying LeaseLesseeTermRentMaintenance ReservesReturn ConditionsLease Deposit

MEET THE PK TEAMMEET THE PK TEAM

New York Tokyo

Luxembourg

PK AirFinance Company Presentation 2009 25

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LUXEMBOURG

Nils HallerströmAdministration

Frank WithofsPortfolio & Treasury

Christophe BeaubronRisk & Analysis

Yvonne CheneryContracts

Tina HongistoAdministration

Saida DouahAdministration

Virginia IzaguirreAdministration

Serge MichelsAdministration

Per WaldelöfMarketing

Shinji SatoMarketing

Yoshifumi SakuragiRisk

Emanuele AndretaMarketing

Akiko KawaguchiAdministration

Maggie MorrowMarketing

Miyuki HayashiAdministration

NEW YORK TOKYO

CONTACT LIST www.pkair.com

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Name Business Phone E-mail

Luxembourg - PK AirFinance SARLEuropean Bank and Business Center, 6D, Route de Trèves, L-2633 Senningerberg, LuxembourgHallerström, Nils +352 34 20 30 24 [email protected] Beaubron, Christophe +352 34 20 30 25 [email protected], Yvonne +352 34 20 30 22 [email protected], Saida +352 34 20 30 27 [email protected], Tina +352 34 20 30 23 t [email protected], Serge +352 34 20 30 20 [email protected], Frank +352 34 20 30 21 [email protected]

New-York - PK AirFinance US, INC.400 Madison Avenue, Suite 9C, New York, N.Y. 10017, USAMorrow, Maggie +1 (212) 245 25 75 [email protected]

Tokyo - PK AirFinance Japan, GE Japan CorporationAkasaka Park Bldg., 5-2-20, Akasaka, Minato-ku, Tokyo 107-6112, JapanSato, Shinji +81 (3) 35 88 61 55 [email protected], Emanuele +81 (3) 55 44 49 43 [email protected], Miyuki +81 (3) 35 88 62 94 [email protected], Akiko +81 (3) 55 44 37 93 [email protected], Yoshifumi +81 (3) 35 88 95 34 [email protected] Waldelöf, Per +81 (3) 35 88 51 56 [email protected]

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GE imagination at work

R.C.S. Luxembourg B27840Capital USD 10,000,000PK AirFinance S.à r.l.

company presentation 2011

Documents

portfolio

pk airfinance

basic structures

debt certificates

pkair

airways

york

tokyo