## 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 ofthis application are within the scope ofthe current bilateral relations between the Government ofthe United States and the Government ofUkraine. Furthermore, Cavok Air has been designated by the State Aviation Administration ofUkraine 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 ofthe United States and the Government ofUkraine ("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.S.-Ukraine Air Transport Agreement superseded all previous bilateral arrangements between the two countries, including the June 1990 Air Transport Agreement between the Government ofthe United States ofAmerica and the Government ofthe Union ofSoviet Socialist Republics, with Annexes thereto, as extended and amended by the May 10, 1995 Protocol between the Government ofthe United States ofAmerica and the Government ofUkraine, and the Supplementary Agreement ofNovember 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 ofthe formally expired Annexes on the basis ofcomity and reciprocity.

## EXHIBIT CVK-17 SAFETY & TARIFF VIOLATIONS
Cavok Air has not had any flight safety violations or accidents involving loss oflife 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 ofLiability Limits under Warsaw Convention) as is required by 14 C.F.R. § 211.20(t).

### U.S

. Department ofTransportation 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 ta riffs 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 atWarsaw 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 liabi lity 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 bod ily 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 ofAmerica, 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 an d 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 C ivil 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 ofthe 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 sign ing 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 ofTransportation 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, includi ng tariffs embodying conditions of carriage filed by it with any government: "The Carrier shall avail itself ofthe 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 incl usive 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 l imit 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 u nder Article 20(1) of said Convention or said Convention as amended by said Protocol. Noth ing herein shall be deemed to affect the rights and liabilities of the Carrier with regar d 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; (i i) 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 INTE RNATIONAL 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 oforigin or destination
. For such passengers on a journey to, from, or w ith 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 l imited 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 havi ng an agreed stopping place in the United States ofAmerica, l iability 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 p urchasing 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 airl ine or insurance company representative." 3
. [Th is Ag r eement 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 ofthe Department of Transportation (DOT) by operation of law
.] 4. This Agreement may be signed in any numberof 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 ofwithdrawal 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 Fo rm 263)

### U.S . Department ofTransportation 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 oforigin, 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 ofthe 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; (i i) a piece of papereither 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 passenger s 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 ofAmerica , liability ofthe 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 C ivil Aeronautics Board ofthe 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 Ag reement. Any Carrier may become a party to this Agreement by signing a counterpart hereof and depositing itwith DOT

. 5
. Any Carrier party hereto may withdraw from this Agreement by giving twelve**(1 .ljl]** **th s'**  written notice ofwithdrawal to DOT and the other Carriers parties to the Agreement.
. ) 11**(** : J {J 1 

### 1 (Signature and Date} · l ' ' ( 

### t , •Either alternative may be used
. (Printed Name and Title} Mykhailo**MaliU!; tj~** **~~ ~~** **~** (Name and Address ofCarrier) Cavok Obolonska Nalber,e
.. 

## .Sa

..''l:fl'lla.ll
. '

OST Fonn 4 523 { Formerly CAB Form 263)