EN VOYAGE AIRWAYS

2004 Annual Results

Presentation to Board of Directors

and respective shareholders

The Management TeamAn Introduction

- Fleet / Scheduling Officer – Maria Tavassali

- Chief Financial Officer – Adam Purcell

- Finance Manager – Ricky Young

- General Manager – Richard Chen

- Human Resources Officer – Dickson Chan

The En Voyage network - existing routes

The 3 routes are based on figures of last year’s annual results. These 3 routes are then fixed, and used for adding new routes

The En Voyage network - existing routes and new routes

-Based on the 3 previously established routes, we established the locations and city-pairs of the 3 possible new routes.

Analysis of current routesfinancial figures of modified frequencies

• Initial routes are:Operated from our hub at MTP

• MTP-HLT

• MTP-DRF

• MTP-SDT

• Using current aircraft ($ costs per hour) and other figures, predicted results for new routes will be:

Brief Analysis of results of possible new routes

Overall results and what action to take?

• Resulting profit per year of almost 100 million dollars• New routes (direct point-point services) may undercut traffic

numbers on some existing routes• Routes which are not going ahead are: ??• Sponsorship in beer festival in NWY to increase leisure traffic

Aircraft Utilisation – Current, and new route figures

Existing utilisation*:Existing utilisation*:

B737 utilised almost 9 hours per dayB737 utilised almost 9 hours per day

B747 utilised almost 12 hours per dayB747 utilised almost 12 hours per day

B767 utilised almost 10 hours per dayB767 utilised almost 10 hours per day* This takes into account of turnaround times* This takes into account of turnaround times

Utilisation charts for 737, 767 and 747Utilisation charts for 737, 767 and 747• 737: utilised 6 hrs per day737: utilised 6 hrs per day• 767: 2 aircrafts: aircraft A: 7hrs per day, aircraft B 6hours and 40 767: 2 aircrafts: aircraft A: 7hrs per day, aircraft B 6hours and 40

minutesminutes• 747: utilised 11 hours per day747: utilised 11 hours per day

Utilisation charts• 747 (MTP-HLT)

Turn around time: 90 minThis route is by far the most profitable and is using is being utilized well.

Utilisation charts• 737 (MTP-SDT) & (MTP-NWY)

Turn around time: 30 minOur route analysis showed that the highest profit comes from flying 3 sectors per day with the B737 as shown above.

Utilisation charts• 767 (SDT-HLT) 3x per week / (DRF-SDT) 3x per week & (MTP-

DRF) • Interesting thing about the 767 operations:

We have 3 options

Option 1: transport the B767 between SDT and MTP in order to successfully implement the SDT-HLT route

767 (SDT-HLT) 3x per week / (DRF-SDT) 3x per week & (MTP-DRF)

Option 2: Drop operations on the MTP-DRF routes from 14 down to 9 per week. This would also include transporting the aircraft between MTP and SDT one day of the week.

767 (SDT-HLT) 3x per week / (DRF-SDT) 3x per week & (MTP-DRF) turnaround time 45 mins

Option 3: Lease a new B767 to operate the SDT-HLT route independently.

Summary & Recommendations

• Improvements can be made from our original services• Addition of some new routes (even if they undercut our other routes)

can still enable healthy profit• Loss making routes are kept with the loss minimised to provide

service and keep market share from competitor• Leasing an additional 767 to cover new route

Bon Voyage!

End of presentation

• This powerpoint is last modified on:8 / 9 / 2004 at 10:26 pm- An accompanying word document of the overall

slides and number of clicks etc - http://www.users.on.net/~mnleung/avia1900grou

pproject.doc- If there are any updates to data

which is required in this presentation, please notify me onchantakyin@hotmail.com

or group email!