1 Curaçao Airport Holding N.V. Operational Plan 2010 October 2009 FINAL version Curaçao Airport Holding N.V. Margaret Abraham Plaza z/n Curaçao Nederland's

1

Curaçao Airport Holding N.V.

Operational Plan

2010

October 2009

FINAL version

Curaçao Airport Holding N.V.Margaret Abraham Plaza z/nCuraçaoNederland's Antilles

2

Operational Plan 2010Curaçao Airport Holding

Oct 2010

Content

1. Introduction

2. Strategic framework CAH

3. Evaluation execution of Operating Plan 2009

4. Strategic focus areas 2010

5. Targets FY 2010

6. Targets allocation

7. Consolidated budget for 2010

8. Conclusions

3


Oct 2010

1. Introduction

In this Operating Plan of Curaçao Airport Holding (CAH) the strategic focuses for 2010 are outlined. This

plan has been prepared by the Management of CAH. CAH annually defines its corporate focus areas and

objectives in order to realize its mission and goals as outlined in the approved ‘Strategic Master Plan

and Business Plan 2008 – 2012’. Strategies, targets and indicators are directly related to the Core Processes and are an integrated part of CAH's performance management.

The following topics will be addressed in this plan:

Strategic framework CAH Strategic focus areas 2010 Targets FY 2010 Targets allocation Finance Conclusions

The execution of this plan will be impacted by internal (e.g. to further professionalize the CAH organization) as well as external factors (e.g. the vision of the new strategic partner).

4


Oct 2010

2. Strategic framework CAH

The strategic framework describes the vision, mission, core processes and objectives of CAH. The strategic framework is the basis from which the strategic focuses and targets for 2010 are derived. The objectives are derived from the ‘Logistic Hub Master Plan’ of Curaçao , and directly related to the role of the Airport. These objectives are approved by the Island Council. The strategies are in line with the defined objectives. These are derived from the ‘Logistic Hub Master Plan’ and the CAH Business Plan.

The Corporate Message is – in addition to the approved vision and mission – a strong believe, developed by the determination and commitment of the holding to realize its vision, that enhances CAH’s real being. It’s this message that includes as well its target as its vision, it explains what CAH is doing and why;

“Curacao Airport Holding sees Curacao International Airport as a ‘Hub’, connecting the Americas, transforming from an airstrip into an Airport City; a dynamic environment attracting aviation and non-aviation linked businesses of all types, stimulating and facilitating increasing of passengers and cargo traffic and creating a powerful engine for the necessary economic development of our Island.”

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Oct 2010

By 2016, Curaçao International Airport is the most efficient, provides the highest quality of service worldwide and is first in the number of passengers and cargo volume (in the Caribbean) and be recognized globally as one of the top international airport Hubs for trusted, value-generating airport services

To manage HIA and Hasco in order to develop and maintain the Curaçao Airport Complex into the number one Logistic Aviation Center in the Caribbean

Vision

Mission

Core Processes

Objectives

Airport OperationsOutsourcing, supervision, stimulation and facilitation of the daily operations

Airport City DevelopmentOutsourcing, supervision, stimulation,

facilitation of - and partnering in the development of the Hasco territory

Asset ManagementCreating a strong and recognized

organization that supervises the strategic partners and ensures return on investments

Economic DevelopmentRe-structuring the aviation industry and

attracting new international ‘transfer and transshipment’ business

Partnership Alignment Airport City DevelopmentAirport Complex

InfrastructureHigh Quality of Services

Airlift Development

Derived S

trategies

Targets &

Activities

Indicators

Airport Operations

Imp

rove O

peratio

ns

Derived S

trategies

Targets &

Activities

Indicators

Airport City

Stim

ulate D

evelop

men

t

Derived S

trategies

Targets &

Activities

Indicators

Asset Management P

rofessio

nalize O

rgan

ization

Derived S

trategies

Targets &

Activities

Indicators

Economic Development

Attract B

usin

ess

2. Strategic framework CAH (continued)

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Oct 2010

3. Evaluation execution Operating Plan 2009

The year 2009 can be characterized as the year where A-port was inaugurated as the new Strategic Partner for the Development Operations and Management of the Curacao International Airport, as a result of the takeover approval of the Alterra shares in January 2009.

CAH has welcomed A-port and worked closely with its new strategic partner to activate the details of the Clarification Agreement, with the focus to bring the airport operation on ‘cruise control’ level. The actions taken by CAH as set out in the Operational plan 2009 have given CAH sufficient ‘steering-tools’ to pressure the improvement of the efficiency and effectiveness of the airport operations and service level to the customers, in the many committees and workgroups that CAH now participates in as part of the Agreement with A-port.

Besides its own effort to initiate the development of the excluded territories such as the Hato Office Park and the Spaceport development opportunity, CAH has worked hard on the implementation of the Heads of Agreement, focusing on the execution of the Project Organization, responsible for the Master planning and Marketing of the Airport City concept.

The CAH organization has grown and matured by further strengthening the competences of the workforce and optimizing the financial administration, management information structure and the start up of a professional Strategic Communication action plan.

CAH has contributed significantly in joined efforts to attract airlift, renewal of the aviation policy and structure and alignment of the Logistical Hub vision. The long haul Low Cost Carrier model to connect North and South America through Curacao, which CAH has created in cooperation with IATA, has encountered local resistance. However in continuous negotiating with GOL and other LCC, new opportunities are being investigated on how to become the Hub of choice in the Caribbean - “Connecting the Americas”- in time for the World-Cup and Olympics in Brazil in the years 2014 and 2016.

7


Oct 2010


Looking back at the Operational plan for 2009 the following can be concluded;

Airport operations;Almost all targets have been addressed satisfactory, except the realization of an upgraded Master plan by CAP and the initiation of a Maintenance Program. These have been negotiated as a part of the Clarification Agreement, which will be addresses next year under the responsibility of A-port. Conducting DOMA and non-DOMA related assessments has become a regular way of doing business.

Airport City development;The negotiations for the Definitive Agreement for the establishment of the Project Organization will be realized before the end of 2009. CAH has started the creation of an Action Plan for the proper Property Management of the related area, which (partly) have to be adopted by the Project Organization next year. The kick-off for creating a conceptual outline for the Master planning and marketing of the Airport City has been initiated with Arthesia / Nuesch, enabling the realization of the Master Plan for Area B&C next year. CAH is negotiating some project opportunities with potential developers/investors for the development of the HATO Office Park and started the marketing of the excluded territories in order to trigger commercial development.

8


Oct 2010


Looking back at the Operational plan for 2009 the following can be concluded;

Asset management;The professionalization of the CAH organization and workforce has been executed satisfactory. Due to the workload the monthly department reporting procedure has been delayed but will be addresses next year to improve the internal communication and reporting. Digitalizing and automating of the information infrastructure will remain a continuous focus area. PR & Communication has become a major focus area in 2009 and a comprehensive Communication Action Plan for the positioning of CAH and its projects has been worked on to ensure optimal implementation in the years to come.

Economic Development;CAH, as part of the advice group, has completed her advice report towards the Island Territory related to the proposition for an aviation policy and structure. The study for the regulatory framework has been taken over by Deloite & Touche. CAH has been actively participating in the Airlift Development Committee which jointly resulted in negotiation with several air carriers. Continuous negotiation with LCC and cargo carriers have taken place to position Curacao as the Hub of choicein the Caribbean. Results are expected in the years to come.

Participation in Logistic related workgroups has become a standard activity as CAH thrives to develop areas overgrowing the direct airport related interests.

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Oct 2010


In this chapter the strategic focus areas for 2010 are defined. These focus areas are in line with the strategies as set out in the approved CAH Strategic Master Plan and Business Plan 2008 – 2012. Main Focuses for 2010 and the years to follow;

Operational ExcellenceOperational excellence is one of the main focuses of CAH. By means of the Clarification Agreement and continuous partnership building with A-port, CAH believes to have created the right environment to optimize the airport performance and service level to customers.

Airport City DevelopmentWith the execution of the Project Organization a joined effort will take place to initiate a professional Master planning and Marketing process for the realization of the Airport City.

Hub DevelopmentCAH believes that Curacao International Airport should facilitate the growth in Tourism, but should focus on exceeding this growth by creating connectivity and air-routes between the America’s. CAH’s focus must be on creating transit – and transfer connections for pax- and cargo and ensuring the right facilities and infrastructure to become the Hub of choice in the Caribbean - “Connection the Americas” - in time for the 2014 and 2016 World-Cup and Olympic Games in Brazil.

Corporate Social ResponsibilityBetween al this ambitions and commercial targeting, CAH recognizes its position as a government agency and its responsibly towards the Island of Curacao and its people. CAH will put all efforts to prove itself to be a good corporate citizen.

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Oct 2010


Core processes Strategies 2008 - 2012 Strategic focus areas 2010

Airport Operations: Align Master Plan and Business Plan of CAP with CAH Vision and international standards, by mutual agreement

Align Master Plan and Business Plan of CAP

Stimulate and pressure airport performance and airport operations effectiveness and efficiency

Conduct DOMA related and non DOMA related activities in order to stimulate, pressure and ensure optimal operations performance

11


Oct 2010

4. Strategic focus areas 2010 (continued)


Airport City development:

Align development and opportunities with Logistic Hub vision and long term Airport and Island interests with strategic partner

Implementation of organizational structure and Work Plan for the Project Organization and Hasco

Upgrade Business/Master Plan Airport City Development for Area B&C

Determine Marketing and Sales Strategy for Airport City Development

Target and attract businesses to facilitate integrated hub services, spin-off business and green space development

Attract developer/investors and monitor development(s) for area B&C

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Oct 2010



Asset Management: Optimize professionalism of CAH organization

Optimize the management information infrastructure (achieve, reporting and documentation)

Further embed Corporate Governance within the organization

Ensure compliance of all contractual obligation of CAH and subsidiaries

Further improve Financial Administration

Improve marketing position of the airport complex as an investment opportunity

Implement and optimize PR & Communication strategy

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Oct 2010



Economic Development:

Implementation of Regulatory Board

Assist in study and implementation of Regulatory Board

Develop air routes from South America to North America Europe to South America through Curaçao

Perform studies for Development of HUB and economic impact

Attract new carriers and/or routes for O&D services in cooperation with Air-route Development Committee

Attract new carriers for Transshipment and Cargo activities

14


Oct 2010

5. Targets 2010

In this chapter the targets for 2010 are defined. These targets are in line with the defined strategic focus areas 2010 as outlined the previous chapter. These are also clustered per core process.

For each target, the respective objective, critical success factors, performance indicators, norms, core activities, time frame, expected results and deliverables are defined.

These targets will be allocated to the responsible professionals and incorporated in their performance contracts

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Oct 2010

5. Targets 2010 (continued)

1. A

lign

Maste

r Pla

n a

nd

Bu

sin

ess P

lan

of C

AP

Objective CSF PI Norms Core activity

Alignment of CAP Master / Business Plan to the vision of Curaçao Airport Holding

Installation of Committee for preparation of Master / Business Plan

Minutes of MeetingsDraft Master / Business Plan

Included but not limited to:

DOMAClarification

Agreement International

Best Practices

CAH Master & Strategic Plan

Conduct regular meetings with Committee

Approval of Master/ Business plan

Continuously working on implementation according to the plan and common vision

Time frame Expected results Deliverables General observations:

The upgrading of the Master Plan and Business Plan of CAP has been executed by CAP in 2009 (according to the DOMA) and is expected to be presented in 2010.

- CAH can only influence the direction of the Business / Master Plan according to the Clarification agreement and by negotiation and promoting the LG vision, and the long term airport- and Island interests.

Q2 Aligned and approved Master Plan/ Business Plan of CAP

Partnership approach in implementation

Aligned and approved Master Plan/ Business Plan of CAP

Airport operations (continued)

16


Oct 2010

2. C

on

du

ct D

OM

A re

late

d a

nd

non

DO

MA

rela

ted

activ

ities


To ensure airport performance and Service level to customers

CAP commitment ASQ surveyCustomer

Service Management survey

Monthly Facility & Security Meetings

Q-ly Operational Management Meetings

Half-year schedule 5.8 reports

DOMAClarification

AgreementASQ surveyCustomer

Service Management survey

Schedule 5.8PFC

Agreement

Monitor and participate in execution of assessments 1 t/m 5

Agree on – and monitor corrective en preventive actions with stakeholders

Assist and participate in development of Quality Measurement System (QMS) and Maintenance Program (MP)

Time frame Expected results Deliverables General observations:The following agreements and reports are used as steering tools; 1. Clarification Agreement

2. ASQ reports

3. Cust. Service Survey (CSM)

4. Schedule 5.8

5. PFC Agreement

The following assessments are to be in place:

6. QMS

7. Maintenance Program

Q1 – Q4 Agreed upon QMS and MP

Improved service level of the airport

Increased control over CAP

Increased performance of CAP

Agreed upon QMS

Agreed upon MP

Assessments reports 1 t/m 5

Agreed upon corrective actions

Airport operations (continued)


17


Oct 2010

3. Im

ple

men

tatio

n o

f org

an

izatio

nal s

tructu

re a

nd

work

pla

n fo

r Pro

ject O

rgan

izatio

n a

nd

Hasco


To set up an effective organization with clear roles and responsibilities for the development of area B&C (Airport city) with A-port

Execution of Project Organization according to the Heads of Agreement

Implemented Project Organization

Approved study and marketing program

Approved Property Mgt Plan Area B&C

National laws

Heads of Agreement

Shareholder Agreement

Implementation of P.O. structure.

Determine Feasibility Criteria

Set up and execute Work Plan for P.O. ;

Participate in study and marketing program

Set up and execute Property Management Action Plan;

Controlling & Operations of Area B&C

Time frame Expected results

Deliverables General observations:

A-port and HASCO agreed to participate in ‘Project Organization’ (PO) on a 49/51% basis as agreed upon in the Heads of Agreement.

Q1 – Q2 Insight & control over the area B&C.

Clear Roles & Responsibilities between Hasco, CAH and A-port

Feasibility Criteria

Action Plan for controlling & operations of Area B&C

Study & marketing program

Organized Project Organization

Airport city development


18


Oct 2010

4. U

pg

rad

e M

aste

r Pla

n a

nd

Bu

sin

ess P

lan

Airp

ort C

ity D

evelo

pm

en

t for A

rea B

&C


To create a common vision and implementation plan for the realization of the Airport City as part of the Logistic Hub

To Upgrade and align the Business / Master plan for Area B&C

Agreed upon Feasibility Criteria

Established Project Organization

Study reports

Business/Master Plan area B&C

Heads of Agreement

Project Description (may 09)

Conceptual design by Arthesia (Dec ’09)


Promote Airport Hub vision & long term Airport / Island interests

Assist in establishing Business/Master Plan for Area B&C

Assist in preliminary marketing


Deliverables General observations: The study will be carried out by PO. CAH contributes through participation of HASCO in PO;

- PO is responsible for executing the studies

- The results of the study will be set out against the feasibility criteria as set up by PO

- PO is responsible for the Master and Bussines Plan for area B&C

Q1- Q2 Approved upgraded and aligned Business / Master plan for Area B&C

Increased insight in development opportunities


Business/Master Plan area B&C

Airport city development (continued)


19


Oct 2010

5. D

ete

rmin

e M

ark

etin

g a

nd

Sale

s S

trate

gy fo

r Airp

ort C

ity D

evelo

pm

en

t


Create an effective Marketing Strategy to successfully execute the Master/ Business Plan

Established Project Organization

Approved Master / Business Plan

Shared and discussed CAH Business / Master Plan 2008 -2012

Shared preliminary marketing activities

CAH Business / Master Plan 2008 -2012

Approved Business and Master Plan area B&C

Negotiate and promote CAH vision

Assist and participate in preparing a Marketing Plan

Participate in preliminary marketing activities (see Focus Area 4 & 6)


Deliverables General observation:The PO will in phase 2 (starting Q3) start with the Marketing of the Plan.

- Project Organization will preliminary search for interested investors / developers

-As partner in Project Organization, CAH can influence the Marketing strategy based on CAH vision and the long term Airport / Island interest

Q3 - Q4 Aligned Marketing & Sales strategy

Increased insight in market opportunities and potential investors/developers and partners

A Marketing Plan for Area B&C

List of potentially interested investors/developers by PO



20


Oct 2010

6. T

o a

ttract d

evelo

per/in

vesto

rs a

nd

mon

itor d

evelo

pm

en

t(s) fo

r are

as B

& C


To initiate the commercially development of the excluded territories

Finding the right partners

List of LeadsList of

ProspectsList of

Projects & Opportunities on excluded territories

Signed contract with investor/ developer

>Nafl. 100k p/y revenue

And/or>Nafl 5

mio investments

Execute project & Opportunities on ‘excluded territory’.

To select developer/investors for excluded territories

To conduct negotiations To formalize contractual

agreement

Time frame Expected results Deliverables General observations:- Proposals received from third-party investors/developers on Area B&C (not on excluded territory) during phase 1 & 2 shall be analyzed by the partners in the Project Organization.

Q1 - Q4 Control over existing Projects & Opportunities on ‘excluded territory’.

Increased ‘speed’ of Airport City development

Improved negotiation position

Increase of revenue

Formalized and signed contractual agreement



21


Oct 2010

7. T

o o

ptim

ize th

e m

an

ag

em

en

t info

rmatio

n in

frastru

ctu

re


To improve the information flow of CAH

Employee discipline

Effective ICT network

Monthly reportsRecovery of

data

12 monthly Departments reports

100% archiving of data

Determine and implement monthly report procedures

Produce monthly department reports

Standardize digital archive method

To complete digital archive structure



Q1 - Q2 Effective and efficient decision making

Recovery of data

Monthly report per Department

Up to date digital archive system

Asset Management (continued)


22


Oct 2010

8. T

o fu

rther e

mb

ed

Corp

ora

te G

overn

an

ce w

ithin

the o

rgan

izatio

n


To comply with contemporary Corporate Governance principles

Corporate discipline

Supervisory Board commitment

Shareholders meetings minutes

Updated Articles of Association

Code Good Gorporate Governance

General GCG best practices

Article of Association

GCG Regulation for CAH management

Customize CAH organization to Code from Government

Verify and adjust Articles of Association

Implement GCG Regulation for CAH Management

Suggest GCG Regulations for Supervisory Board

Organize and attend Shareholders meetings for CAH, HIA end Hasco



- CAH will comply as much as possible Corporate Governance rules and regulation of Island Territory Curaçao

Q1- Q4 Improved checks and balances

More transparency

More accountability

More integrity

Good Corporate governance compliance

Guide Lines for Management

Updated Articles of Association

3 Conducted and attended Shareholders meetings



23


Oct 2010

9. E

nsu

re c

om

plia

nce o

f all le

gal a

nd

con

tractu

al o

blig

atio

n o

f CA

H a

nd

su

bsid

iarie

s


Compliance with all legal and contractual obligation of CAH and subsidiaries

Written documentation and agreements

Knowledge of all legal obligations

100% of checklist

(inter)national laws

All CAH contract

Article of Association

Continuously update legal & contractual obligation checklist for CAH, HIA and Hasco

Ensure compliance with checklist


Deliverables

General observations:- - -

Q1 – Q4; Compliance with all obligations

Good contract management of CAH and subsidiaries

Updated checklist with legal & contractual obligations for CAH, HIA and Hasco



24


Oct 2010

10

. Fu

rther im

pro

vem

en

t fin

an

cia

l ad

min

istra

tion


To improve the financial accountability (transparent, up to date and correct)

Fully functional Exact software

Financial reporting in Exact

Health insurance agreement

Other employee benefits

100% implemented collective health insurance

To implement collective health insurance

To improve company payment procedures

To study possibility of crystal reporting in Exact

To investigate other employee benefits


Deliverables General observations:- - -

Q1 – Q4 Improved financial administration, management and reporting

Proposal for Exact reporting

Improved Payment procedures

Health insurance agreement

Proposal for potential employee benefits



25


Oct 2010

11

. Imp

lem

en

t an

d o

ptim

ize P

R &

Com

mu

nic

atio

n s

trate

gy


To improve internal and external communication

To improve the image of the Curacao Airport Holding

Professional assistance Determined and approved PR & Communication Action Plan

Corporate Social Responsibility Awareness planExposure of Hub and Airport City Development Plan

Determined Corporate IdentityPR & Communication Action Plan

Execution of PR & Communication Action Plan

Set up and execute CSR action plan

Communicate Hub Development and AC plan with local government agencies and stakeholders


Deliverables General observations:-Corporate Social Responsibility (CSR) positions CAH as a good corporate citizen.Q1 – Q4 Improved PR

& Communication to promote:

- Corporate Social Responsibility

- Awareness and support for Hub and Airport City Development

Corporate Social Responsibility Awareness plan Locally communicated Hub and Airport City Development Plan



26


Oct 2010


12

. Assis

t in s

tud

y a

nd

imp

lem

en

tatio

n o

f Reg

ula

tory

Board


To comply with the DOMA by existence of a Regulatory Board

Stakeholder commitment

CAP commitment for cost allocation structure

Completed study by D&T

Government approval of D&T study

General Regulatory framework

ICAO normDOMA

Assist in study by Deloitte & Touche

Assist in implementation once approved by Island territory

Keep pushing the process



The general Regulatory Board will be installed by the Island territory. Q1 – Q3 Regulatory

Board in compliance with the DOMA

Realized Regulatory Board by the government

Economic development (continued)

27


Oct 2010


13

. Perfo

rm s

tud

ies fo

r Develo

pm

en

t of H

UB

an

d e

con

om

ic im

pact


To build up a business case to attract airlines and create support amongst stakeholders

Alignment in participation of all stakeholders

Passenger and Economic Impact study reports

Integrated comments of stakeholders in Business Case

TOR (2009) IATA reports

Execute study by third parties

Inform stakeholders and government

Obtain consensus by stakeholders and government

Present business case to carriers (See 15)



Q1 – Q2 Support from stakeholders and government A professional business case to present to carriers

Hub Pax study

Economic Impact study

Airline Business Case

Economic development

28


Oct 2010

14

. Attra

ct n

ew

carrie

rs a

nd

/or ro

ute

s fo

r O&

D S

erv

ices


Increase airlift connections for O&D services

Joint vision, commitment and efforts by and with ARDC partners

Potential new carriers and/or routes

Minimum 2 new carriers and/or routes per year

Participate in Air Route Development Committee

Attend related conferences

Identify potential carriers/investors

Facilitate implementation of connections e.g guarantees, AOC, bi-lateral agreements etc.



O&D airlift development takes place in cooperation with Air Route Development Committee (CHATA, CTB, CAP & CAH), mainly in order to facilitate the growth in Tourism

Q1 – Q4 Increase of airlift

Continuous contribution to Tourism development

New Carrier

And/orNew

Routes



29


Oct 2010

15

. Attra

ct n

ew

carrie

rs fo

r Tra

nssh

ipm

en

t an

d C

arg

o a

ctiv

ities


Increase airlift connections for transshipment through airport

Business Case (see 13)

Sufficient resources to attract potential carriers

Availability of relevant incentives

Identified interested carrier/ investor

Business Case (see 13)

Minimum 1 new carrier and/or route

Joint studies R&D Attend related

conferences Present business

case (see 13) to potential carriers/investors

Negotiate deal with potential carriers/investors

Facilitate implementation of connections e.g AOC, bi-lateral agreements etc.



Transshipment development takes place by CAH and CAP (R&D Group) in the view of the Logistical Hub vision to position Curacao airport as the main Logistical Hub in the Caribbean.

Q1 – Q4 Increase of airlift

Contribution to Economic development

Cargo study

New Carriers and/or Route for transshipment



30


Oct 2010

6. Targets allocation

In this chapter the targets have been allocated to the responsible professionals. In some cases targets have been allocated to more than one person because of the nature and the scope of the core activities to be performed as part of the respective target.

Nr Allocation focus areas Time frame

Managing

Director

Advisor Developme

nt

Advisor Operation

s

Financial

Advisor

Legal Adviso

r

1. Align Master Plan and Business Plan of CAP Q2 X X

2. Conduct DOMA related and non DOMA related activities in order to stimulate, pressure and ensure optimal operations performance

Q1-Q2

X

3. Implementation of organizational structure and work plan for Project Organization and Hasco

Q2 X X O O

4. Upgrade Master Plan and Business Plan Airport City Development for Area B&C

Q2 X X O

5. Determine Marketing and Sales Strategy for Airport City Development

Q4 X X

6. Attract developer/investors for area B&C Q1-Q4

X

X = primair responsible. O = important supportive role

31


Oct 2010

6. Targets allocation (continued)

Nr Allocation focus areas Time frame

Managing

Director

Advisor Developme

nt

Advisor Operatio

ns

Financial

Advisor

Legal Adviso

r

7. Optimize the management information infrastructure (achieve, reporting and documentation)

Q2 O O X O

8. Further embed Corporate Governance within the organization

Q4 X O X

9. Ensure compliance of all legal and contractual obligation of CAH and subsidiaries

Q1-Q4

X

10.

Further improve Financial Administration Q1-Q4

X

11.

Implement and optimize PR & Communication strategy

Q4 X X X

12.

Assist in study and implementation of Regulatory Board

Q3 X X

13 Perform studies for Development of HUB and economic impact

Q2 X X O X

14.

Attract new carriers for O&D services in cooperation with Air-route Development Committee

Q1-Q4

X

15.

Attract new carriers for Transshipment and Cargo activities

Q1-Q4

X XX = primair responsible. O = important supportive role

32


Oct 2010

7. Consolidated budget for 2010

In the following table the consolidated budget for 2010 is outlined. The detailed description of the ‘projected budget planning’ can be found in the Financial Budget Report 2010 as presented to the Supervisory Board of CAH.

Nafl.INCOME 8,144,903

EXPENSES

Personnel expenses 1,563,649Utilities / housing expenses 169,600Professional fees 1,880,000Other operating expenses 93,300

TOTAL EXPENSES 3,706,549

Depreciation 1,572,488

TOTAL EXPENSES AND DEPRECIATION 5,279,037

OPERATIONAL RESULT 2,865,866

Financial income/ expenses 514,000

RESULT 3,379,866RESULT excl BIJZONDERE BATEN en LASTEN

begroting 2010CONSOLIDATED INCOME STATEMENTMEERJARENBEGROTING

33


Oct 2010

8. Conclusions

This plan illustrates the strategies approved in the Business Plan 2008 – 2012 that will be implemented in 2010 and which directly contributes to the realization of the mission and goals as outlined in the approved ‘Strategic Master Plan and Business Plan 2008 – 2012’.

The implementation of our new Strategic Partner A-port has set the tone for the years to come and CAH believes to have found a real partner for the long term Development Operations and Management of Curacao International Airport.

The Year 2010 will be very important year for CAH! In this year the Operations of the airport should be upgraded to an acceptable level of service and possible adaptation of the terminal could be initiated already. Air-lift is considered to be one of the threats for further developing Tourism and the airport has to ensure its facility will be in place once the efforts to increase the airlift will be successful. If Curacao International Airport chooses to become the Hub of Choice in the Caribbean – “Connecting the Americas” – for the 2014 and 2016 Games in Brazil, its has to take the necessary steps and actions to be ready in time!

Further more, 2010 will be the year in which CAH will have to align, approve and present the Master- and Business Plan for the development of the Airport City. Stakeholder participation and commitment is of the essence and alignment with other major developments on the Island will be a key to success.

The Management Team of CAH is fully committed to this plan. This plan will be monitored, periodically evaluated and adjusted if so required to ensure proper execution. The results will be presented to and discussed with the Supervisory Board.

34

The discipline of getting things done!

Curaçao Airport HoldingOperational Plan 2010

October, 2009Final version

Not even the sky is

our limit!

Documents

1 Curaçao Airport Holding N.V. Operational Plan 2010 October 2009 FINAL version Curaçao Airport Holding N.V. Margaret Abraham Plaza z/n Curaçao Nederland's