EXHIBIT CVK -14 

FINANCIAL PROJECTIONS 

Cavok Air estimates that its average revenue per charter flight to points in the U.S. East 

Coast, specifically Miami, FL, will constitute $ 2,000.00 per flight with 50% load factor: based 

on the average per kilo price of $0.20. With the estimated 50 flights in the first year of 

operations, the financial result per year is estimated to constitute $100,000.00. 
EXHIBIT CVK-15 

GOVERNMENTAL FINANCIAL ASSISTANCE 

Cavok Air does not receive, and does not expect to receive, any financial assistance from 

the government ofUkraine. 
EXHIBIT CVK-16 

AIR TRANSPORT AGREEMENT BETWEEN THE UNITED STATES AND UKRAINE 

Cavok Air's proposed services that are the subject of this application are within the scope 

of the current bilateral relations between the Government of the United States and the 

Government ofUkraine. Furthermore, Cavok Air has been designated by the State Aviation 

Administration of Ukraine to operate the requested charter flights. 

Aviation relations between the United States and Ukraine are governed by a bilateral 

aviation agreement, specifically, by the Air Transport Agreement between the Government of the 

United States and the Government of Ukraine ("U.S.-Ukraine Air Transport Agreement" or 

"Agreement") and Annexes thereto executed on June 5, 2000. 

The June 5, 2000 U.S.-Ukraine Air Transport Agreement superseded all previous 

bilateral arrangements between the two countries, including the June 1990 Air Transport 

Agreement between the Government of the United States of America and the Government of the 

Union of Soviet Socialist Republics, with Annexes thereto, as extended and amended by the May 

10, 1995 Protocol between the Government ofthe United States of America and the Government 

of Ukraine, and the Supplementary Agreement of November 4, 1996, as amended. 

However, the Annexes to the Agreement, which serve as the basis for the authority 

sought by Cavok Air, expired on December 31, 2001, and have not been renewed since then. 

While further bilateral undertakings between the two countries are yet to be implemented, both 

parties have been continuing to observe the provisions of the formally expired Annexes on the 

basis of comity and reciprocity. 
EXHIBIT CVK-17 

SAFETY & TARIFF VIOLATIONS 

Cavok Air has not had any flight safety violations or accidents involving loss of life in 

the five (5) years preceding this application. Cavok Air has not been involved in any tariff 

violations in the five (5) years preceding this application. 
EXHIBIT CVK -18 

WAIVER OF LIABILITY LIMITS UNDER WARSAW/MONTREAL CONVENTION 

Attached are three completed copies ofOST Fonn 4523 (Waiver of Liability Limits 

under Warsaw Convention) as is required by 14 C.F.R. § 211.20(t). 
U.S. Department of Transportation 

Office of the Secretary of Transportation AGREEMENT 

The undersigned carriers (hereinafter referred to as "the Carriers") hereby agree as follows: 

Docket OST 95-236 

1. Each of the Carriers shall, effective May 16, 1966, include the following in its conditions of carriage, including tariffs embodying conditions 

of carriage filed by it with any government: 

"The Carrier shall avail itself of the limitation of liability provided in the Convention for the Unification of Certain Rules Relating to International 

Carriage by Air signed at Warsaw October 12th, 1929, or provided in the said Convention as amended by the Protocol signed at The Hague 

September 28th, 1955. However, in accordance with Article 22(1) of said Convention, or said Convention as amended by said Protocol, the 

Carrier agrees that, as to all international transportation by the Carrier as defined in the said Convention or said Convention as amended by 

said Protocol, which, according to the contract of Carriage, includes a point in the United States of America as a point of origin, point of 

destination, or agreed stopping place 

(1) The limit of liability for each passenger for death, wounding, or other bodily injury shall be the sum of US $75,000 inclusive of legal fees and 

costs, except that, in case of a claim brought in a State where provision is made for separate award of legal fees and costs, the limit shall be 

the sum of US $58,000 exclusive of legal fees and costs. 

(2) The Carrier shall not, with respect to any claim arising out of the death, wounding, or other bodily injury of a passenger, avail itself of any 

defense under Article 20{1) of said Convention or said Convention as amended by said Protocol. 

Nothing herein shall be deemed to affect the rights and liabilities of the Carrier with regard to any claim brought by, on behalf of, or in respect 

of any person who has willfully caused damage which resulted in death, wounding, or other bodily injury of a passenger." 

2. Each Carrier shall, at the time of delivery of the ticket, furnish to each passenger whose transportation is governed by the Convention, or 

the Convention as amended by the Hague Protocol, and by the special contract described in paragraph 1, the following notice, which shall be 

printed in type at least as large as 10 point modern type and in ink contrasting with the stock on (i) each ticket; (ii) a piece of paper either placed 

in the ticket envelope with the ticket or attached to the ticket; or (iii) on the ticket envelope: 

"ADVICE TO INTERNATIONAL PASSENGER ON LIMITATION OF LIABILITY 

Passengers on a journey involving an ultimate destination or a stop in a country other than the country of origin are advised that the provisions 

of a treaty known as the Warsaw Convention may be applicable to the entire journey, including any portion entirely within the country of origin 

or destination. For such passengers on a journey to, from, or with an agreed stopping place in the United States of America, the Convention 

and special contracts of carriage embodied in applicable tariffs provide that the liability of CAVOK AIR 

[certain ]* 

[(name of carrier) and certain other) carriers parties to such special contracts for death of or personal injury to passengers is limited in most 

cases to proven damages not to exceed US $75,000 per passenger, and that this liability up to such limit shall not depend on negligence on the 

part of the carrier. For such passengers traveling by a carrier not a party to such special contracts or on a journey not to, from, or having an 

agreed stopping place in the United States of America, liability of the carrier for death or personal injury to passengers is limited in most cases 

to approximately US $10,000 or US $20,000. 

The names of Carriers parties to such special contracts are available at all ticket offices of such carriers and may be examined on request. 

Additional protection can usually be obtained by purchasing insurance from a private company. Such insurance is not affected by any 

limitation of the carrier's liability under the Warsaw Convention or such special contracts of carriage. For further information please consult 

your airline or insurance company representative." 

3. [This Agreement was filed with the Civil Aeronautics Board of the United States. The Board approved it by Order E-23680, adopted May 

13, 1966. The Agreement (Agreement 18900) became effective May 16, 1966. On January 1, 1985, this Agreement became the 

responsibility of the Department of Transportation (DOT) by operation of law.) 

4. This Agreement may be signed in any number of counterparts, all of which shall constitute one Agreement. Any Carrier may become a 

party to this Agreement by signing a counterpart hereof and depositing it with DOT. 

5. Any Carrier party hereto may withdraw from this Agreement by giving twelve (1 

other Carriers parties to the Agreement. 

'Either alternative may be used. 

OST Fonn 4523 (Formerly CAB Form 263) 

(Signature and Date) 

(Printed Name and Title) 
U.S. Department of Transportation 

Office of the Secretary of Transportation AGREEMENT 

Docket OST 95-236 

The undersigned carriers (hereinafter referred to as "the Carriers") hereby agree as follows: 

1. Each of the Carriers shall, effective May 16, 1966, include the following in its conditions of carriage, including tariffs embodying conditions 

of carriage filed by it with any government: 

"The Carrier shall avail itself of the limitation of liability provided in the Convention for the Unification of Certain Rules Relating to International 

Carriage by Air signed at Warsaw October 12th, 1929, or provided in the said Convention as amended by the Protocol signed at The Hague 

September 28th, 1955. However, in accordance with Article 22(1) of said Convention, or said Convention as amended by said Protocol, the 

Carrier agrees that, as to all international transportation by the Carrier as defined in the said Convention or said Convention as amended by 

said Protocol, which, according to the contract of Carriage, includes a point in the United States of America as a point of origin, point of 

destination, or agreed stopping place 

(1) The limit of liability lor each passenger for death, wounding, or other bodily injury shall be the sum of US $75,000 inclusive of legal fees and 

costs, except that, in case of a claim brought in a State where provision is made for separate award of legal fees and costs, the limit shall be 

the sum of US $58,000 exclusive of legal fees and costs. 

(2) The Carrier shall not, with respect to any claim arising out of the death, wounding, or other bodily injury of a passenger. avail itself of any 

defense under Article 20(1) of said Convention or said Convention as amended by said Protocol. 

Nothing herein shall be deemed to affect the rights and liabilities of the Carrier with regard to any claim brought by, on behalf of, or in respect 

of any person who has willfully caused damage which resulted in death, wounding, or other bodily injury of a passenger." 

2. Each Carrier shall, at the time of delivery of the ticket, furnish to each passenger whose transportation is governed by the Convention, or 

the Convention as amended by the Hague Protocol, and by the special contract described in paragraph 1, the following notice, which shall be 

printed in type at least as farge as 10 point modern type and in ink contrasting with the stock on (i) each ticket; (ii) a piece of paper either placed 

in the ticket envelope with the ticket or attached to the ticket; or (iii) on the ticket envelope: 

"ADVICE TO INTERNATIONAL PASSENGER ON LIMITATION OF LIABILITY 

Passengers on a journey involving an ultimate destination or a stop in a country other than the country of origin are advised that the provisions 

of a treaty known as the Warsaw Convention may be applicable to the entire journey, including any portion entirely within the country of origin 

or destination. For such passengers on a journey to, from, or with an agreed stopping place in the United States of America, the Convention 

and special contracts of carriage embodied in applicable tariffs provide that the liability of CAVOK AIR 

[certain ]* 

[(name of carrier) and certain other) carriers parties to such special contracts for death of or personal injury to passengers is limited in most 

cases to proven damages not to exceed US $75,000 per passenger, and that this liability up to such limit shall not depend on negligence on the 

part of the carrier. For such passengers traveling by a carrier not a party to such special contracts or on a journey not to, from, or having an 

agreed stopping place in the United States of America, liability of the carrier for death or personal injury to passengers is limited in most cases 

to approximately US $10,000 or US $20,000. 

The names of Carriers parties to such special contracts are available at all ticket offices of such carriers and may be examined on request. 

Additional protection can usually be obtained by purchasing insurance from a private company. Such insurance is not affected by any 

limitation of the carrier's liability under the Warsaw Convention or such special contracts of carriage. For further information please consult 

your airline or insurance company representative." 

3. [This Agreement was filed with the Civil Aeronautics Board of the United States. The Board approved it by Order E-23680, adopted May 

13, 1966. The Agreement (Agreement 18900) became effective May 16, 1966. On January 1, 1985, this Agreement became the 

responsibility of the Department of Transportation (DOT) by operation of law.] 

4. This Agreement may be signed in any number of counterparts, all of which shall constitute one Agreement. Any Carrier may become a 

party to this Agreement by signing a counterpart hereof and depositing it with DOT. 

5. Any Carrier party hereto may withdraw from this Agreement by giving twelve (11t?m?]ths' written notice of withdrawal to DOT and the 

other Carriers parties to the Agreement. ) r. r///.( ! J r 1 I 

(Signature and Date) t L 1 ( ( ' '-- 1 

•Either alternative may be used. 

(Printed Name and Tille) Mykhailo Mallm, ,. " ~~~~ ~ 

(Name and Address of Carrier) Cavok 

Obolonska Na :>er~~~4 ~~ ' 

OST Fonn 4523 (Formerly CAB Form 263) 
U.S. Department of Transportation 

Office of the Secretary of Transportation AGREEMENT 

Docket OST 95-236 

The undersigned carriers (hereinafter referred to as 'the Carriers') hereby agree as follows: 

1. Each of the Carriers shall, effective May 16, 1966, include the following in its conditions of carriage, including tariffs embodying conditions 

of carriage filed by it with any government 

"The Carrier shall avail itself of the limitation of liability provided in the Convention for the Unification of Certain Rules Relating to International 

Carriage by Air signed at Warsaw October 12th, 1929, or provided in the said Convention as amended by the Protocol signed at The Hague 

September 28th, 1955. However, in accordance with Article 22(1) of said Convention, or said Convention as amended by said Protocol, the 

Carrier agrees that, as to all international transportation by the Carrier as defined in the said Convention or said Convention as amended by 

said Protocol, which, according to the contract of Carriage, includes a point in the United States of America as a point of origin, point of 

destination, or agreed stopping place 

(1) The limit of liability for each passenger for death, wounding, or other bodily injury shall be the sum of US $75,000 inclusive of legal fees and 

costs, except that, in case of a claim brought in a State where provision is made for separate award of legal fees and costs, the limit shall be 

the sum of US $58,000 exclusive of legal fees and costs. 

(2) The Carrier shall not, with respect to any claim arising out of the death, wounding, or other bodily injury of a passenger, avail itself of any 

defense under Article 20(1) of said Convention or said Convention as amended by said Protocol. 

Nothing herein shall be deemed to affect the rights and liabilities of the Carrier with regard to any claim brought by, on behalf of, or in respect 

of any person who has willfully caused damage which resulted in death, wounding, or other bodily injury of a passenger." 

2. Each Carrier shall, at the time of delivery of the ticket, furnish to each passenger whose transportation is governed by the Convention, or 

the Convention as amended by the Hague Protocol, and by the special contract described in paragraph 1, the following notice, which shall be 

printed in type at least as large as 10 point modern type and in ink contrasting with the stock on (i) each ticket; (ii) a piece of paper either placed 

in the ticket envelope with the ticket or attached to the ticket; or (iii) on the ticket envelope: 

"ADVICE TO INTERNATIONAL PASSENGER ON LIMITATION OF LIABILITY 

Passengers on a journey involving an ultimate destination or a stop in a country other than the country of origin are advised that the provisions 

of a treaty known as the Warsaw Convention may be applicable to the entire journey, including any portion entirely within the country of origin 

or destination. For such passengers on a journey to, from, or with an agreed stopping place in the United States of America, the Convention 

and special contracts of carriage embodied in applicable tariffs provide that the liability of CAVOK AIR 

[certain ]* 

[(name of carrier) and certain other) carriers parties to such special contracts for death of or personal injury to passengers is limited in most 

cases to proven damages not to exceed US $75,000 per passenger, and that this liability up to such limit shall not depend on negligence on the 

part of the carrier. For such passengers traveling by a carrier not a party to such special contracts or on a journey not to, from, or having an 

agreed stopping place in the United States of America, liability of the carrier for death or personal injury to passengers is limited in most cases 

to approximately US $10,000 or US $20,000. 

The names of Carriers parties to such special contracts are available at all ticket offices of such carriers and may be examined on request. 

Additional protection can usually be obtained by purchasing insurance from a private company. Such insurance is not affected by any 

limitation of the carrier's liability under the Warsaw Convention or such special contracts of carriage. For further infonnation please consult 

your airline or insurance company representative." 

3. [This Agreement was filed with the Civil Aeronautics Board of the United States. The Board approved it by Order E-23680, adopted May 

13, 1966. The Agreement (Agreement 18900) became effective May 16, 1966. On January 1, 1985, this Agreement became the 

responsibility of the Department of Transportation (DOT) by operation of Jaw.] 

4. This Agreement may be signed in any number of counterparts, all of which shall constitute one Agreement. Any Carrier may become a 

party to this Agreement by signing a counterpart hereof and depositing it with DOT. 

5. Any Carrier party hereto may withdraw from this Agreement by giving twelve (1 .ljl]ths' written notice of withdrawal to DOT and the 

other Carriers parties to the Agreement. . ) 11 ( : J {J 11 

(Signature and Date} · l ' ' ( t , •Either alternative may be used. 

(Printed Name and Title} Mykhailo MaliU!;tj~ ~~~~ ~ 

(Name and Address of Carrier) Cavok 

Obolonska Nalber,e .. .Sa .. ''l:fl'lla.ll.' 

OST Fonn 4 523 {Formerly CAB Form 263)