PK Air Finance Brochure 07

8/8/2019 PK Air Finance Brochure 07

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PK AIRFINANCE

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

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

PK AirFinance is a part ofGECAS GE Commercial Aviation

Services the worlds largest aircraft lessor.

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GECAS

GE Commercial Aviation Services is the worlds largest aircraft lessor with 1,300+

owned and 300 managed commercial jets.

GECAS serves 200+ airline customers in more than 60 countries.

GECAS has 50+ leasing executives in 21 offices worldwide.

GECAS is supported by a best-in-class team of100+ highly experienced aircraft and

aircraft systems engineers.

Besides PK AirFinances lending, GECAS offers operating leases, purchase / lease-backs,

engine and component financing, and pilot training.

GECAS is wholly owned by General Electric, rated AAA / Aaa by S&P / Moodys.

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Senior Mortgage Loans

Full payout

Balloon loans

Non-recourse loans

Finance Leases

Conditional Sales

Stand-by Facilities

Junior Loans

Warehouse Financing

Asset Value Guarantees

Purchase ofLoans

PK PRODUCTS

We include features such as

Floating/Fixed Interest Rate

Mixed Currencies

Limited Recourse

Early Termination and Extension Options

To structure an optimal solution for everytransaction, we consider

Accounting Treatment

Tax Treatment

Legal Structure

Asset Risk

Credit Risk

Currency Risk

Interest Rate Risk

Seasonal Cash Flows

PK AirFinance Company Presentation 2007 3


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EMB-1451%

EMB-1350%

EMB-1706%

EMB-1901%

MD-11F

0%

MD-820%

A319-100

14%

A320-20019%

A3215%

A3302%

B737-300

3%

B737-4001%B737-500

2%

B737-6001%

B737-700

4%

B737-80014%

B737-9000%

B747-4004%

B7573%

B767-3006%

B767-4007%

B777-200

6%


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EETC8%

JOL Loans23%

Airlines Loans47%

Investor Loans22%

Middle East, Africa,CIS 7%

Asia8%

North America37%

Latin America7%

Europe41%

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


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TRANSACTIONS

6 PK AirFinance Company Presentation 2007

2006 TRANSACTIONSAeroflot 2 B767-300ER Mor tgaged Operating Lease Debt

Aeromexico 1 B737-700 Mor tgaged Operating Lease Debt

Air Berlin 1 B737-800 Mor tgaged Operating Lease Debt

Air Canada 1 EMB175 Secured Term Loan

Air Europa 1 B737-800 Mor tgaged Operating Lease Debt

Alitalia 2 A321-100 Mor tgaged Operating Lease Debt

ANA 3 A320-200 Mor tgaged Operating Lease Debt

Blue Air 1 B737-400 Mor tgaged Operating Lease Debt

Braathens ASA 1 B737-400 Mor tgaged Operating Lease Debt

Clickair 1 A320-200 Mor tgaged Operating Lease Debt

Continental Airlines 3 B737-800 Mor tgaged Operating Lease Debt

COPA 4 EMB-190 Secured Term Loan

Delta Air Lines vario us E-EETC

Donbassaero 1 B737-400 Mor tgaged Operating Lease Debt

easyJet 5 A319-100 Secured Term Loan

3 A319-100 Mor tgaged Operating Lease Debt

Firs t Choice 2 B757-200 Mor tgaged Operating Lease Debt

Futura 1 B737-800 Mor tgaged Operating Lease Debt

GB Airways 1 A320-201 Mor tgaged Operating Lease Debt

Hainan Airlines 1 B737-800 Mor tgaged Operating Lease Debt

Iberia 2 A320 Mor tgaged Operating Lease Debt

Icelanda ir 1 B757-200F Secured Term Loan

1 B767-300ER Mor tgaged Operating Lease Debt

JetBlue 3 A320-200 Secured Term Loan Participation

KD Avia 5 B737-300 Mor tgaged Operating Lease Debt


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Kartagho Airlines 1 A320-200 Secured Term Loan

KTH Y 2 B737-800 Mor tgaged Operating Lease Debt

Korean Airlines 1 B737-800 Mor tgaged Operating Lease Debt

LTU 3 A330-300 Mor tgaged Operating Lease Debt

Martinair 2 B747-400SF Mor tgaged Operating Lease Debt

Norweg ian Air Shutt le 1 B733-300 Mor tgaged Operating Lease Debt

Pega sus 1 B737-800 Mor tgaged Operating Lease Debt

Royal Air Brunei 6 B767-300ER Mor tgaged Operating Lease Debt

Ryanair 1 B737-800 Mor tgaged Operating Lease Debt

SAS 3 B737-700 Mor tgaged Operating Lease Debt

1 B737-600 Mor tgaged Operating Lease Debt

Sibir S7 10 A319-100 Mor tgaged Operating Lease Debt


Spicejet 1 B737-800 Mor tgaged Operating Lease Debt

TACA 1 A320-200 Mor tgaged Operating Lease Debt

TAP 1 A319-100 Mor tgaged Operating Lease Debt

TUI 1 B737-300 Mor tgaged Operating Lease Debt

United Airlines 5 B737-300 Mor tgaged Operating Lease Debt

Ural Air 1 A320-200 Mor tgaged Operating Lease Debt

USA3000 1 A320-200 Mor tgaged Operating Lease Debt

Genesis Leasin g vario us Liquidity Fac ili ty

Undisclosed 5 B747-400SF Secured Term Loan

VIM-Avia 4 B757-200 Mor tgaged Operating Lease Debt

Westjet 1 B737-700 Mor tgaged Operating Lease Debt

XL Airways 1 B737-800 Mor tgaged Operating Lease Debt


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2005 TRANSACTIONSAeroflot 2 B767-300ER Mor tgaged Operating Lease Debt

Aigle Azur 1 A320-200 Mor tgaged Operating Lease Debt

Air Canada 14 EMB175 Secured Term Loan


Air Chin a 1 B747-400SF Mor tgaged Operating Lease Debt

Air One SpA 1 B737-400 Secured Term Loan

Alitalia 11 A319-100 Secured Term Loan

8 A321-100 Secured Term Loan


2 B767-300 Secured Term Loan

6 EMB145 Secured Term LoanBritish Airways 1 B737-500 Mor tgaged Operating Lease Debt

Various Secured Stand-By Facili ty


British Midland 1 B737-300 Mor tgaged Operating Lease Debt

Chin a Southern 2 B757-200 Mor tgaged Operating Lease Debt

COPA 2 EMB-190 Secured Term Loan

Czech Airlines 1 B737-500 Mor tgaged Operating Lease Debt

easyJet 2 A319-100 Senior Loan

EVA Air ways 2 B767-300ER Mor tgaged Operating Lease Debt

Firs t Choice 1 B757-200 Mor tgaged Operating Lease Debt

1 B757-200ER Mor tgaged Operating Lease Debt

GOL Transportes Aereos 2 B737-700 Mor tgaged Operating Lease Debt


Hainan Airlines 2 B737-700 Mor tgaged Operating Lease Debt




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KD Avia 3 B737-300 Mor tgaged Operating Lease Debt

Norweg ian Air Shutt le 1 B737-300 Mor tgaged Operating Lease Debt

Republic Airlines 1 EMB170s Secured Term Loan

Sahara Airlines 2 B737-800 Mor tgaged Operating Lease Debt

Sichuan Airlines 1 A320-200 Mor tgaged Operating Lease Debt

Singapore Airlines 1 747-400 Mor tgaged Operating Lease Debt

Spicejet 1 B737-800 Mor tgaged Operating Lease Debt

TAM Linh as Aereas 2 A320-200 Finance Lease

TUI 1 B757-200ER Mor tgaged Operating Lease Debt


Undisclos ed 2 B747-400 Bridge Loan

2004 TRANSACTIONSAir Berlin 1 B737-800 Operating Lease Financing

Air Chin a 1 B747-400SF Operating Lease Debt

Air France 1 A320-200 Operating Lease Financing

Air Palau 1 B737-300 Operating Lease Debt

British Airways 1 B777-200ER Operating Lease Debt

Chin a Eastern 1 A320-200 Operating Lease Financing

easyJet 1 B737-700 Operating Lease Financing

1 A319-100 Secured Partial Recourse Term Loan

6 A319-100 Operating Lease Financing

GulfAir 2 A320-200 Operating Lease Debt

Hainan Airlines 1 B737-300QC Operating Lease Debt


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Korean Airlines 1 B737-900 Secured Term Loan

Martinair 1 MD-11F Operating Lease Debt

Mexicana 1 A320-200 Operating Lease Debt

Nor thwest 6 A330-200 Secured Term Loan3 A330-300 Secured Term Loan

Norweg ian Air Shutt le 1 B737-300 Operating Lease Financing

1 B737-300 Operating Lease Debt

Philippine Airlines 1 A320-200 Operating Lease Debt

Republic Airlines 5 EMB170s Secured Term Loan

SAS 2 B737-800 Operating Lease Financing

Thompson.com 1 B737-500 Operating Lease Debt

Transaero Airlines 1 B737-400 Operating Lease Debt

TUI 1 B737-800 Operating Lease FinancingTurk Hava Yoll ari 1 A320-200 Operating Lease Financing

2003 TRANSACTIONSAir 2000 1 B757-200ER Operating Lease Debt

Air France 1 A320-200 Operating Lease Debt

Braathens ASA 2 B737-700 Operating Lease Debt

Britanni a Airways AB 1 B757-200ER Operating Lease Debt

British Airways 3 A320-200 Operating Lease Debt2 A320 Operating Lease Debt

British Midland 1 B737-500 Operating Lease Debt

Delta Air Lines 5 B767-400ER Secured Term Loan

9 B767-400 Secured Letter Of Cred it Facili ty

3 B777-200ER


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easyJet 1 B737-700 Operating Lease Debt

Hainan Airlines 3 B737-300QC Operating Lease Debt

Icelanda ir 1 B757-200ER Operating Lease Debt

LTU 2 A320-200 Secured Term Loan2 A321-200

Luxair 2 B737-400 Operating Lease Debt

TUI 3 B737-800 Operating Lease Debt

United Airlines vario us Liquidity Fac ili ty

Virgin Express 1 B737-400 Operating Lease Debt

2002 TRANSACTIONS

Air Atlanta 1 B747-200F Operating Lease DebtAir Caledoni a 1 B737-300 Operating Lease Debt

Alitalia 5 A321-100 Secured Term Loan

America West 9 A319 EETC C-tranche

5 A320-200 EETC C-tranche

Asiana 1 B767-300ER Operating Lease Debt

ATA 9 B737-800 EETC C-tranche

BlueBird Cargo 1 B737-300C Condition al Sale

Braathens 1 B737-400 Operating Lease Debt

Delta 19 Various EEETC A-trancheeasyJet 3 B737-700 Operating Lease Debt

Iberia 2 A320-200 Operating Lease Debt

Jet Airways 4 B737-700 Secured Term Loan

JetBlue Air ways 2 A320-200 Secured Term Loan

KTH Y 2 B737-800 Operating Lease Debt


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LTU 2 A320-200 Secured Term Loan

My Travel 1 A321-200 Operating Lease Debt

2 A320-200 Operating Lease Debt

Pega sus 1 B737-800 Operating Lease DebtSA Airlink 1 EMB135 Operating Lease Debt

Silk Air 1 A320-200 Operating Lease Debt

Skynet 1 B737-400 Operating Lease Debt

Swiss 7 EMB145 Operating Lease Debt

TAM 4 A320-200 Secured Term Loan

TAP 3 A340-200 Secured Term Loan

TUI 2 B737-800 Operating Lease Debt

United Airlines 16 B757-200 USLL Debt Purchase

4 B737-300 USLL Debt Purchase1 B737-500 USLL Debt Purchase

4 B777-200 Secured Term Loan

9 A319 Secured Term Loan


2001 TRANSACTIONSAer Lingus 2 B737-800 Operating Lease Debt

Aeromexico 1 MD-82 Operating Lease Debt

1 MD-87 Operating Lease Debt

Air 2000 1 A321-200 Operating Lease Debt

Aircraft Expos ure 7 B747-200F Mor tgaged Cred it Facili tyManage ment

Air tours 1 A321-200 Operating Lease Debt

America West 5 B737-300 Secondary Purchase of Debt Certificates


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Boeing 1 B737-400 Operating Lease Debt

British Airways 22 Various Mor tgaged Cred it Facili ty

British Midland 1 B737-300 Operating Lease Debt

Delta Airlines 19 Various E-EETC B-trancheFalcon Air 1 B-737-300QC Operating Lease Debt

Frontier Airlines 3 A319 Secured Term Loan

Futura 1 B737-800 Operating Lease Debt

Iberia 1 A320-200 Operating Lease Debt

Jet Blue 1 A320-200 Junior Debt

Korean Airlines 3 B737-800 Secondary Purchase of Debt Certificates

Luxair 1 B737-500 Operating Lease Debt

Malaysian Airlines 1 B777-200 Loan Participation

SAS 3 B737-600 Operating Lease DebtSky Airways 1 B737-300 Operating Lease Debt

South African Airlink 2 EMB 135 Operating Lease Debt

Swiss air 1 A320-200 Operating Lease Debt

TACA 1 A320-200 Secured Term Loan

TAM 3 A330-200 Secured Term Loan

United Airlines 1 B757-200 Secondary Purchase of Debt Certificates


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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% ofAir Group sold to Crdit Lyonnais (CL)

Company renamed Crdit 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)

COMPANY HISTORY



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1996 CLPK opens rep office in Tokyo

1998 European Commission asks CL to sell CLPK

PK closes first ever a/c backed CLO

2000 General Electric Capital Corporations GECAS buysCLPK Airfinance

Company renamed PK AirFinance

2001 PK opens office in Toulouse

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

2005 Air Finance Journal European Deal ofthe Year Award for BritishAirways Secured Stand-By

2006 Originates $ 2,380,000,000 in new volume

Company reaches over $ 7.1 billion in portfolio volumeCumulative origination reaches $ 16 billion


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A320-200 60

A319-100 52

B737-800 39

B737-300 26

EMB-170 20

A321 19

B737-500 18

B767-300ER 17

MD82 16

B737-700 14

B767-400 14

B757-200ER 13

B777-200 8

B737-400 7

B737-600 7

EMB-145 7

B747-400 6

EMB-190 6

A330-300 4

EMB-135 3

B737-300SF 2B747-400SF 2

B737-900 1

B757-200SF 1

MD11F 1

363

Aeroflot

Aeromexico

Aigle Azur

Air Berlin

Air Canada

Air Europa

Air France-KLM

Air Jamaica

Air One

AlitaliaAmerican Airlines

ANA

Blue Air

Bluebird

British Airways

British Midland

Chautauqua Airlines

China Eastern

China Southern

ClickairContinental Airlines

COPA

Czech Airlines

Delta Air Lines

Donbassaero

easyJet

First Choice

Frontier

Futura

GB A irways

GOL

Hainan

Iberia

IcelandairJetBlue

Karthago Airlines

KD Avia

KTHY

Korean

LTU

Luxair

Martinair

MAS

MonarchMyTravel

Norwegian Air Shutt le

Pegasus

Philippine Airlines

Royal Brunei Airlines

Ryanair

SA Airlink

Sahara

SAS

Sibir Airlines

Sichuan Airlines

Singapore Airlines

SN B russels

SpiceJet LimitedSwiss International

TACA

TAM

TAP Portugal

THY

Transaero

TUI

Ukraine Int. Airlines

United Airlines

Ural AirlinesUSA 3000

VIM Avia

WestJet

XL A irways

AIRCRAFT(Collateral 31/Dec/2006)

AIRLINES(31/Dec/2006)


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THE BASIC STRUCTURES

Airline Loan Investor Loan

PK AirFinance

Airline

Loan Mortgage

Airline

Loan Mortgage

PK AirFinance

SpecialPurpose

Company

Lease

Assignment


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HOW WE CALCULATE THE ODDS

Aircraft Value Projection

Outstanding Amount

With Confidence Bands

Balloon Recourse OrNon-Recourse

Airline PerformanceProbability

Asset Risk Credit Risk


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BASIC DATA

WE NEED TO DISCUSS

YOUR TRANSACTION

Transaction

financed amount

currency

repayment profile

interest rate basis

(floating/fixed)

Borrower

Name

Financials

Jurisdiction

Airline

Name

Financials

Jurisdiction

Aircraft

Type

Year ofmanufacture

Serial Number

Registration

Engine Type

Max Take-Off WeightSpecifications

Maintenance Program

and Condition

Underlying Lease

Lessee

Term

Rent

Maintenance Reserves

Return Conditions

Lease Deposit



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MEET THE PK TEAM

New York TokyoToulouse

Luxembourg


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Name Business Phone Business Fax E-mail

Luxembourg (Head Office)

European Bank and Business Center, 6D, Route de Trves, L-2633 Senningerberg, Luxembourg

Beaubron, Christophe +352 34 20 30 25 +352 34 80 50 [email protected], Yvonne +352 34 20 30 22 +352 34 80 50 [email protected]

Douah, Saida +352 34 20 30 27 +352 34 80 50 [email protected]

Hallerstrm, Nils +352 34 20 30 24 +352 34 80 50 [email protected]

Hongisto, Tina +352 34 20 30 23 +352 34 80 50 t [email protected]

Kristinsson, Sigurdur +352 34 20 30 29 +352 34 80 50 [email protected]

Michels, Serge +352 34 20 30 20 +352 34 80 50 [email protected]

Preteseille, Xavier +352 34 20 30 35 +352 34 80 50 [email protected]

Withofs, Frank +352 34 20 30 21 +352 34 80 50 [email protected]

America400 Madison Avenue, Suite 9C, New York, N.Y. 10017, USA

Giles, Richard +1 (212) 245 25 75 +1 (212) 397 93 93 [email protected]

Morrow, Maggie +1 (212) 245 25 75 +1 (212) 397 93 93 [email protected]

Smith, Miquel +1 (212) 245 25 75 +1 (212) 397 93 93 [email protected]

Asia

c/o General Electric International, Inc., Akasaka Park Bldg., 5-2-20, Akasaka, Minato-ku, Tokyo 107-6112, Japan

Sato, Shinji +81 (3) 35 88 61 55 +81 (3) 35 88 61 56 [email protected]

Hayashi, Miyuki +81 (3) 35 88 62 94 +81 (3) 35 88 61 56 [email protected]

Sakuragi, Yoshifumi +81 (3) 35 88 95 34 +81 (3) 35 88 61 56 [email protected]

Toulouse

Btiment Thales, 17, avenue Didier Daurat , F-31700 Blagnac, France

Andreta, Emanuele +33 5 67 31 00 17 +33 5 34 60 67 82 [email protected]

Waldelf, Per +33 5 67 31 00 10 +33 5 34 60 67 82 [email protected]

CONTACT LIST www.pkair.com


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GE imagination at work

Documents

PK Air Finance Brochure 07