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| Yaluation Revenue growth Costs (% of revenue): Wages and benefits Aircraft and fuel costs (General and administrative Rates: Tax Discount Results PV of NCF

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| Yaluation Revenue growth Costs (% of revenue): Wages and benefits Aircraft and fuel costs (General and administrative Rates: Tax Discount Results PV of NCF (incl. TV) + Cash - Debt Value of equity Yrs. 1-5 2,79 455 39% 10% 12.0 18.0 Sales 482.1 Expenses: 'Wages and benefits Aircraft and fuel costs General and administrative Operating Income Taxes Net Income after Tax Cash flow adjustments: Working Capital (4.0) Capital Expenditures (9.0) MNet Cash Flows (4.1) (9.1)

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