Francois Chazelle, Corporate Jets The big stuff: the investment value of bizliners

February 2014 ACJs are only in the top end of the market

Size

Value ACJs are derived from the most modern airliner family A320 Family A330/A340/A350 Family A380 Family

A321 ACJ321 A340 ACJ340

A320 ACJ320 A350 ACJ350 A380 ACJ380 A319 ACJ319

A330 ACJ330 A318 ACJ318

... and benefiting from the experience of over 7,000 Airbus delivered A unique market positioning

100

BBJ2 90 ACJ320

BBJ1 ACJ319 80 Glob. 8000

70 G650 ACJ318 Glob. 7000 60 G550

Price Price (M$) Lineage Glob. 6000 50 7X G500

40 Glob. 5000 G450 30

20 0 50 100 150 200 250 Cabin Volume (m3) Bizliners offers a unique upgrade and/or alternative solution

Based on public prices and volumes. Including cabin ACJ customers

A well balanced customer base ACJ Charter operators

24 VIP charter aircraft with 15 operators

NB: excludes all ACJs operated by governments, airlines or private owners without the support of a management company Executive Airbus ACJ319 is…

…1st bizjet with mini-suites

November 2013 ACJ Management companies

15 management companies operating private ACJs

NB: excludes all ACJs operated by governments, airlines or private owners without the support of a management company ACJ customers are less volatile Bloomberg data Airlines vs. Corporate Jet customers 100 Grouped average stock values 90

80 Selection of large FTSE 100 70 companies owning Large business jets 60

50 Selection of top 40 airline customers with Airbus aircraft 30

Indexed avg. Share price % 20

10

0

Dec-04Feb-05Apr-05Jun-05Aug-05Oct-05Dec-05Feb-06Apr-06Jun-06Aug-06Oct-06Dec-06Feb-07Apr-07Jun-07Aug-07Oct-07Dec-07Feb-08Apr-08Jun-08Aug-08Oct-08Dec-08Feb-09Apr-09Jun-09Aug-09

AVG Airlines AVG CJ Customers Corporate Jet customers are less sensitive to changes in the economy Bizliner customers are a class above

 Operators and owners of Bizliners have a higher net worth and are less sensitive to fluctuating economic conditions and shareholder pressure

 Ultra High Net Worth Individuals and governments therefore make independent decisions

 This means Bizliner customers present a better credit risk Overview of the Airbus Corporate Jet Family

ACJ318 14-19 passengers 4,200 nm

ACJ319 19-30 passengers 6,000 nm

ACJ320 19-50 passengers 4,300 nm

8 pax and NBAA rules, Range shown without sharklets

Same wide cabin, three different lengths

Boeing BBJBoeing Gulfstream G650 Gulfstream

Embraer Lineage Embraer 31.44 m/103 ft 2 in

Airbus ACJ Family ACJ Airbus Gulfstream G450/G550 Gulfstream

Bombardier Global 6000Global Bombardier ACJ318

33.84 m/111 ft 0 in ACJ319

2.40 m/7 ft 10 in Longer than ACJ318

37.57 m/123 ft 3 in ACJ320

3.73 m/12 ft 3 in Longer than ACJ319 Travel in the widest, tallest cabin in the market ACJ Family market split

ACJ318 22

ACJ319 78

Thanks to their versatility the ACJ318 and ACJ319 are the most popular models

Net orders as of December 2013 ACJ Family range around London

London Moscow New York Tokyo Los Angeles Dubai

Honolulu

Luanda ACJ318 ACJ320 Rio De Janeiro

ACJ319

8 pax 85% max headwinds 200nm diversion NBAA IFR reserves Rich & exclusive specifications

Airframe structural reinforcements Installation of a specific (*) Fuel System (*)

Installation of a specific Cargo Loading System (CLS) for ACTs Airstairs (*)

41,000 ft altitude ceiling (*) ETOPS 180 min

Installation of forward heated floor panels

Highest thrust engines Installation of 4 additional centre tanks (ACTs) (*) Structural provisions for SATCOM Aero I/H+ Design weights increased (capability up to 6) Emergency Locator Transmitter supply and installation (e.g. MTOW from 64t up to 76.5t) Dual HF system supply and installation (*) Exclusive to ACJ319 and not retrofitable ACJ318 optimized layout Elite+ layout 19 passengers Galley Entourage area Lounge area Private office Crew rest Option Double bed option

Dining area Guest lavatory Washroom (option) Standardized layout with pre-engineered selectable options

Layout shown may include potions ACJ318 is offered as a turnkey package

 Aircraft and outfitting sold as a turnkey package by Airbus

 Includes Lufthansa Technik installation of Elite+ cabin outfitting under Airbus supervision, for which Airbus has an exclusive

 Transfer Of Title of green aircraft prior outfitting, allowing creation of a mortgage (or other liens) on the aircraft for financing purposes

Unmatchable pricing point for a unique entry level product

* Bizjet is a Lufthansa Technik subsidiary ACJ319 Exclusive cabin concept has widespread appeal

 Comfortable and practical layout  Saves customer time and effort  On display in Airbus mockup centre in Toulouse

Certificated for public transport Exclusive cabin concept is widespread

ACJs (<20 pax layout) delivered since lauch of the Airbus cabin concept Dec. 2004 Exclusive cabin concept is highly flexible

Same cabin layout & structure Multitude of choice for fixtures & fittings

Easy to refurbish at less than 10% of the cost for a new cabin A worldwide range of Airbus approved cabin outfitters

Woensdrecht Hamburg Basle Dallas Indianapolis Toulouse San Antonio Xiamen ACJs continue to improve as a member of the A320 family

Maintenance Extended Service Sharklets Engine improvements RNP 0.1 programme Goal ROPS

Carbon fiber brakes as std

2007 2008 2009 2010 2011 2012

HUD Aerodynamic GPS Landing 78t A320 EFB OANS improvements system

300 million Euros are invested every year to maintain Airbus leadership

HUD: Head Up Display RNP: Required Navigation Performance ROPS: Runway Overrun Protection System OANS: On-board Airport Navigation system ROW/ROPS being offered as safety enhancement

Runway overrun warning (ROW) Runway overrun prevention (ROP) Enables timely go-around Maximises stopping ability Sharklets design

Tip-Cap • Single piece design • Innovative materials CFRP panels with full- depth cores • Manufactured by KAL AL diverter strips Strobe CFRP laminated spars light

Navigation CFRP panels with light Honeycomb cores (Upper and lower panels)

Rib-27A

Provisions standard from Q1 2013 Line fit from Q1 2014 1st ACJ319 with Sharklets was delivered in October 2013 Worldwide support 99.9% Operational reliability 5 Airbus Training centres (Toulouse, Miami, Hamburg, Beijing and Bangalore) 19 Training centres with CAE

6 Spares Centres (Hamburg, Frankfort, Washington, Beijing, Singapore and Dubaï) Airbus centre CAE Training centre Main Airbus Field Representative Dedicated 24/7 Customer Front Desk service: ACJ Exclusive 245 Airbus Field representative located in 167 stations

Expert support, whenever you want, wherever you need ACJ Excellent operational reliability and availability

99.8%

With over 100 ACJ318/319/320 in-service, ACJ operators typically fly between 200 (private owner) and 1,100 (VIP charter operators) FH/year. Airframe Maintenance

CHECKS CHECK INTERVAL MANHOURS DOWNTIME

ESTIMATES

Daily 36 h 6 -

Weekly 8 Days 12 -

A 600 FH/4 months 106 -

C (AVG) 20 Mths 1,182 3 days

4C/6Yr 6 Years 5,750 14 days

8C/12Yr 12 Years 10,235 26 days

No downtime before 20 months High maintenance intervals Low maintenance downtime Modern and efficient engines

Fan Bypass Engine diameter Ratio

ACJ319 CFM56-5B 68 in 5.9:1

BBJ CFM56-7B 61 in 5.1:1

68in G650 BR725 50 in 4.4:1

Global BR710 48 in 4.2:1 ACJ319–CFM56-5B XRS ACJ319 engines have a larger fan area and a higher bypass ratio = Lower fuel burn = Better Efficiency Most VIP operators will not have to remove the engine on ACJ318, ACJ319, or ACJ320 While they eventually will on a BBJ, Gulfstream or Global New aircraft market value Range x Volume / Market value

ACJ represents best value for money

Values: ASCEND V1 Oct 2011 (Except Global Express, G650: 2010 values; Lineage: Airbus estimate) Range: 8 pax NBAA profile Low ACJ inventory further helps maintain strong residuals

ACJ318 ACJ319 ACJ320 ACJ321 ACJ TOTAL BBJ BBJ2 BBJ3 BBJ TOTAL Aircraft produced 19 76 12 1 108 106 19 6 131 Inventory 0 2 0 0 2 15 0 0 15 % on inventory 0% 2.6% 0% 0% 1.9% 14,1% 0% 0% 11.5%

ACJ Family 2nd hand inventory never exceeds a handful of aircraft ensuring strong markets values

Source Aircraft produced : From Airbus and Boeing websites as of December 2013 Source Inventory : From controller.com as of December 2013. Criteria: delivered aircraft up to 2013 included, excluding aircraft shown as owned by Airbus and Boeing Airbus ACJs show strong residual values

• Average Annual Depreciation according to ASCEND: ACJ318 : 1.9% ACJ319 : 2.5%

• ACJ transaction prices observed on the secondary market confirm that trend

Age Strong residual values sustained throughout the aircraft life

Source for residual value curves: ASCEND , Oct 2012. Based on Full Life Base Values Inflated Source for latest transactions: Airbus Corporate Jets ACJs are low-risk strong assets

 ACJs retain their resale values extremely well  ACJs are easier to re-market thanks to:

A Strong worldwide network of VIP charter operators and management companies

A Highly versatile cabin layout allowing cost-effective refurbishment

Ease of ACT reconfiguration (unique to Airbus) to match broader mission requirements Widebodies

Airbus ACJ330 & ACJ340 Gala concept ACJ330/ACJ340 Gala concept meets most VVIP needs

Moscow Beijing

New York Riyadh

Lagos Singapore Papeete

Sao Paulo Sydney Santiago Johannesburg

VVIP section for elegant comfort & privacy Large premium & economy seating for guests & staff "Nonstop to the world" range Gala cabin concept combines VIP & airline-style seating

Airbus A330 & A340

Executive seats Executive seats Staff seats VVIP

Door 1 Door 2 Door 3 Door 4

Bathroom Bedroom Office Conference More value for your money

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