BEFORE THE 

DEPARTMENT OF TRANSPORTATION 

WASHINGTON, D.C. 

 ) 

Application of ) 

 ) 

DYNAMIC AIRWAYS, LLC ) DOCKET DOT-OST-2010- 

d/b/a DYNAMIC AVIATION ) 

 ) 

for a Certificate of Public Convenience ) 

and Necessity (Interstate Passenger ) 

Charter Service) ) 

 ) 

APPLICATION OF DYNAMIC AIRWAYS, LLC D/B/A 

DYNAMIC AVIATION FOR A CERTIFICATE OF 

PUBLIC CONVENIENCE AND NECESSITY

Communications with respect to this document should be sent to: 

John R. Mietus, Jr. 

Law Office of John Mietus, LLC 

6701 Democracy Blvd., Suite 300 

Bethesda, MD 20817-7500 

(202) 747-5212 - Telephone 

(240) 396-5362 - Fax 

john@mietuslaw.com 

Counsel for DYNAMIC AIRWAYS, 

LLC D/B/A DYNAMIC AVIATION 

APPLICANT REQUESTS THAT THIS APPLICATION BE PROCESSED 

THROUGH EXPEDITED, NON-HEARING PROCEDURES PURSUANT TO 

SUBPART B OF THE DEPARTMENT’S PROCEDURAL REGULATIONS. 

NOTICE: Any person may support or oppose this application by filing an 

answer no later than March 26, 2010 and serving a copy of the answer on 

counsel for Applicant and upon persons served with this application. 

 

March 5, 2010
BEFORE THE 

DEPARTMENT OF TRANSPORTATION 

WASHINGTON, D.C. 

 ) 

Application of ) 

 ) 

DYNAMIC AIRWAYS, LLC ) DOCKET DOT-OST-2010- 

d/b/a DYNAMIC AVIATION ) March 5, 2010 

 ) 

for a Certificate of Public Convenience ) 

and Necessity (Interstate Passenger ) 

Charter Service) ) 

 ) 

APPLICATION OF DYNAMIC AIRWAYS, LLC D/B/A 

DYNAMIC AVIATION FOR A CERTIFICATE OF 

PUBLIC CONVENIENCE AND NECESSITY

 Pursuant to 49 U.S.C. § 41102, parts 201 and 204 of the Department’s 

Economic Regulations, subpart B of the Department’s Procedural 

Regulations, and the Department’s Streamlining Initiative in Docket OST2005-22228, Dynamic Airways, LLC d/b/a Dynamic Aviation (“Airways”) 

respectfully applies for a certificate of public convenience and necessity 

authorizing Airways to engage in interstate charter air transportation of 

persons, property, and mail. As Airways wishes to begin passenger operations 

in August 2010, it requests that the Department process this application 

expeditiously using written submissions and simplified, non-hearing 

procedures as contemplated by sections 302.15 and 302.207 of the Procedural 

Regulations. In support of its application, Airways provides the information 
Dynamic Airways

Certificate Application

Page 2

required by 14 C.F.R. §§ 201.4 and 204.3 in the Exhibits and Confidential 

Exhibits attached to this application and states as follows: 

 1. Michael A. Stoltzfus and his father, Karl D. Stoltzfus, Sr., both U.S. 

citizens, formed Airways in 2008 to complement the aviation operations that 

have been conducted since 1967 by the Stoltzfus family through what is now 

Dynamic Aviation Group, Inc. ("Group"). Early in its history, predecessor 

K&K Aircraft, Inc. purchased a fleet of Beechcraft BE-18s and Douglas DC-3s 

that were configured for tanks for aerial application. In 1992 Group began a 

new line of business that involves releasing sterile insects to control, and in 

some cases eradicate, various pests, and Group is now recognized as the 

international leader in operating aircraft for sterile insect release. Group 

expanded again with the 1996 purchase of the U.S. Army's fleet of 124 nonpressurized Beech BE-90s. Today, Group operates versatile, safe and reliable 

multi-engine aircraft from bases worldwide and employs over 400 aviationrelated professionals in missions including intelligence, surveillance and 

reconnaissance (ISR), airborne data acquisition, fire management, aerial 

application, and sterile insect technique. Its customers include federal, state 

and local governments, non-profit research organizations, and private 

corporations. 

 2. Airways intends to begin operations with a leased, MD-88 aircraft 

and to grow its operation to five such aircraft during its first year of 
Dynamic Airways

Certificate Application

Page 3

operations. It will offer these aircraft to collegiate and professional sports 

teams and other public and private charterers for domestic U.S. operations. 

 3. With the financial support of Group, Airways unquestionably has 

the financial strength to initiate and maintain the proposed charter 

operations without posing an undue risk to consumers or their funds. Group 

has on hand substantial funds that are immediately available to Airways, 

including access to $7.5 million through an existing line of credit that Group 

will make available to Airways. Thus, Airways has access to funds sufficient 

to meet the Department’s financial fitness test for the requested authority. 

 4. Senior Airways management has the necessary business expertise 

and technical ability to offer and manage the proposed passenger 

transportation while complying effectively with relevant transportation laws. 

Led by Lee Steele, a 30-year veteran of U.S. airline operations, the Airways 

team can draw on the management experience of its members at passenger 

airlines including Aloha Air, America West, CCAir, Champion Air, Colgan 

Air, Eastern Air Lines, Midwest Airlines, MGM Grand Air, Pace Airlines, and 

Pan Am/Carnival. 

 5. Under 49 U.S.C. § 41102(b)(1), the Department may issue interstate 

authority if the applicant is a U.S. citizen and meets the Department’s fitness 

requirements. That is the case here. Moreover, grant of the requested 

certificate authority is in the public interest, as it will allow Airways to offer 
Dynamic Airways

Certificate Application

Page 4

charterers new price and service options for domestic passenger 

transportation. 

 6. Further supporting information is provided in Exhibits 1-10 to this 

application, attached hereto, and in the accompanying Confidential Exhibits 

A D. 

 WHEREFORE, Dynamic Airways, LLC d/b/a Dynamic Aviation 

respectfully requests that the Department of Transportation process this 

application using expedited, simplified procedures, issue it a certificate of 

public convenience and necessity to engage in interstate charter air 

transportation of persons, property, and mail, and grant such other relief as 

may be necessary or appropriate. 

 Respectfully submitted, 

John R. Mietus, Jr. 

Law Office of John Mietus, LLC 

6701 Democracy Blvd., Suite 300

Bethesda, MD 20817-7500 

 (202) 747-5212 

 (240) 396-5362 fax 

john@mietuslaw.com 

Counsel for DYNAMIC AIRWAYS, 

LLC D/B/A DYNAMIC AVIATION

March 5, 2010
Dynamic Aviation

Certificate Application

Exhibit 1

INFORMATION SUPPLIED PURSUANT

TO THE DEPARTMENT’S REGULATIONS

 Dynamic Airways, LLC d/b/a Dynamic Aviation (“Airways”) hereby supplies, 

in support of its certificate application, the information required by the 

Department pursuant to 14 C.F.R. § 204.5, cross-referenced to specific 

provisions of section 204.3. 

(a) Name, address, and telephone number of applicant. 

 Dynamic Airways, LLC d/b/a Dynamic Aviation 

 7996 North Point Blvd., Suite 201 

 Winston-Salem, NC 27106 

 (336) 896-0400 

(b-d) Form of organization and state of incorporation; certificate of good 

standing and corporate information.

 Airways is a Virginia limited liability company owned and co-managed by 

Michael A. Stoltzfus (67% membership interest) and his father, Karl D. 

Stoltzfus, Sr. (33% membership interest); they also are majority shareholders 

in Dynamic Aviation Group, Inc. (“Group”), a Virginia corporation. The 

Articles and Certificate of Organization of Airways and the governing 

Statement in Lieu of Operating Agreement dated December 31, 2008 are 

attached as Exhibit 2. Airways shortly will provide certificates of good 

standing for Airways and Group. 

 

(e) Citizenship affidavit. 

The affidavit of Michael A. Stoltzfus declaring Airways to be a U.S. citizen 

under 49 U.S.C. § 40102(a)(15), as required by 49 U.S.C. § 41102, is attached 

as Exhibit 3. 

 
Dynamic Aviation

Certificate Application

Exhibit 1

Page 2

 

(f) Information relating to key personnel. 

Key business executives at Group -- Michael A. Stoltzfus, Karl D. Stoltzfus, 

Sr., J. Merle Zook, and Aaron Lorson -- will hold the key business positions at 

Airways, and these executives expect to devote from 20% to 30-40% (Michael 

A. Stoltzfus and Aaron Lorson) of their time to Airways. The technical 

management of Group and Airways will not overlap. An organization chart 

for Airways is attached as Exhibit 4. 

Capsule biographies for Airways key personnel, the holders of the Airways 

positions required under 14 C.F.R. ("FAR") § 119.65, and Airways' manager 

of in-flight are provided below. More detailed resumes are provided in 

Exhibit 5, and FAA certificate numbers are provided in Confidential Exhibit 

A. (Confidential Exhibits described in this Application have been filed with 

the Department under seal and accompanied by a Motion for Confidential 

Treatment.) All listed personnel may be reached at the business address 

shown above and are U.S. citizens. 

Michael A. Stoltzfus, LLC Member, President, and Chief Executive Officer 

Mr. Stoltzfus is spearheading the development of Airways to complement the 

aviation operations of Group, where he is also President and CEO. Since 

joining Group in the early 1990s he has held positions of increasing 

operational and business responsibility. He also served as a DC-6 flight 

engineer for two years at Northern Air Cargo and founded a company focused 

on aircraft de-icing. He is an alumnus of Harvard Business School (2004 

graduate of the Owner/President Management Program), has logged more 

than 4,800 flight hours, and holds an Airline Transport Pilot certificate. 

Karl D. Stoltzfus, Sr., LLC Member 

Mr. Stoltzfus, the Chairman of Group, will contribute to Airways' business 

development. He has been involved in aviation since 1957, logging over 5,800 

flight hours to date, and founded what is now Group in 1969. He holds a 

commercial pilot certificate and a business administration degree from 

Eastern Mennonite College in Harrisonburg, VA. 

 
Dynamic Aviation

Certificate Application

Exhibit 1

Page 3

Aaron S. Lorson, Executive Vice President 

Mr. Lorson joined Group as a pilot after graduating summa cum laude from 

LeTourneau University and is currently Group's Vice President, Flight 

Operations. Mr. Lorson holds Airline Transport Pilot, Flight Instructor, and 

Airframe and Powerplant (A&P) certificates and has logged over 4,000 flight 

hours. 

J. Merle Zook, Chief Financial Officer 

As CFO of Group and Airways, Mr. Zook, a Certified Public Accountant, 

oversees both companies' accounting functions. He graduated from Eastern 

Mennonite College with an accounting degree in 1987. 

Lee Steele, Vice President - Operations 

Mr. Steele, a 30-year U.S. airline and 8-year U.S. Air Force veteran who has 

logged over 9,500 flight hours, is primarily responsible for Airways' ongoing 

certification and will manage flight operations. He has held management 

positions at Champion Air (2007-09), Aloha Airlines (2004-06), Polar Air 

Cargo (2000-03), America West (1998-2000), Pan Am/Carnival (1996-98), 

Arrow Air (1995-96), MGM Grand Air (1993-95), and Eastern Air Lines, 

where he began as a pilot in 1980. He holds an Airline Transport Pilot 

certificate and B.S. and M.A. degrees awarded by Georgia Tech and Webster 

University, respectively. 

Paul D. Weston, Director of Safety 

Mr. Weston joined Airways from Colgan Air, where he managed the DHC-8-

Q400 fleet (2007-09), and he managed technical operations for Midwest 

Airlines' MD-80 series fleet in 2002-04. He began his commercial airline 

career with Eastern Airlines in 1966 and holds an Airline Transport Pilot 

certificate. Mr. Weston has logged more than 18,000 flight hours. 

Rand Walters, Director of Operations 

Mr. Walters has ten years' experience in managing flight operations at Polar, 

Aloha, Tradewinds, and Arrow and received DC-9, B747, and B747-400 type 

ratings during his 26 years of aviation experience. He holds Airline 

Transport Pilot, Instructor, and A&P certificates and has logged over 10,000 

flight hours. 

Don McLean, Chief Pilot 

Mr. McLean has extensive experience in the MD-80 series aircraft Airways 

will operate through his years at Midwest Airlines (1994-2010), Eastern 

Airlines (1980-91), and the U.S. Navy (1974-1980). He has taught aviation 

courses at the University of North Dakota (1991-94) and holds B.S.B.A. and 
Dynamic Aviation

Certificate Application

Exhibit 1

Page 4

M.A. degrees awarded there and at Webster University, respectively. Mr. 

McLean holds Airline Transport Pilot, Instructor, and Dispatcher certificates 

and has logged more than 18,000 flight hours. 

Wayne Branan, Director of Maintenance 

Mr. Branan has more than 30 years' airline maintenance experience, and he 

joined Airways from Pace Airlines, where he was Chief Inspector. He holds 

an A&P certificate. 

A. Gray Thomason, Chief Inspector 

Mr. Thomason joined Airways from Timco Aviation Services, where he was a 

Quality Control inspector, and he has more than 13 years' experience in 

aviation maintenance and inspection. He holds an A&P certificate. 

Julie Ann Acheson, Director, In-flight Services

Ms. Acheson managed in-flight services for more than ten years at CCAir and 

Pace Airlines, and she has acted as a flight attendant on several different 

types of aircraft. 

(g) Relevant corporations; persons having a substantial interest in the 

applicant. 

Group is a “relevant corporation” within the meaning of Part 204, as it will 

provide Airways necessary financial support and its two principal owners 

also own Airways. Group's voting stock is owned by five members of the 

Stoltzfus family, and two members of the family -- Karl D. Stoltzfus, Sr., who 

is also the sole director of Group, and his son Michael A. Stoltzfus -- each own 

more than 10% of the voting stock individually, and they collectively own 

more than 75% of the voting stock. Non-voting stock also is held by the Karl 

D. Stoltzfus Irrevocable Trust, formed under the laws of Virginia and 

managed by a U.S. citizen trustee for the benefit of Mr. Stoltzfus's heirs. 

As explained below, a subsidiary of Airways, Dynamic JetLease, LLC, is to be 

transferred by Airways to Airways' owners and would then be a "relevant" 

sister company. 

(h,i) Subsidiaries; ownership and control of other carriers or 

aeronautical enterprises. 

 Historically, JetLease was an Airways subsidiary that was used to acquire 

one of the MD-80 series aircraft to be used by Airways and several DC-9 
Dynamic Aviation

Certificate Application

Exhibit 1

Page 5

aircraft that Group or Airways expect to use for future, non-air 

transportation business. After JetLease is transferred to the owners of 

Airways, Airways will have no subsidiaries, and it holds no interest in any 

other air carrier, foreign air carrier, common carrier, or person substantially 

engaged in the business of aeronautics. 

 The subsidiaries of Group are Dynamic AvLease, Inc., which owns and 

provides aircraft to Group, K&K Aircraft, Inc., and Rockingham Aviation 

Corp. 

 

(j,k) Financial statements. 

 

 Group has incorporated the financial information of Airways within its 

consolidated statements, which were prepared by J. Merle Zook, a certified 

public accountant and Chief Financial Officer of Airways and Group. The 

Group financial statements for calendar years 2008 (which also contains 

information for 2007) and 2009 were reviewed by PBGH, an independent 

public accounting firm in Harrisonburg, VA, and are attached as Confidential 

Exhibit B. Historic December 31, 2008 and 2009 balance sheets for Airways 

have been restated separately and are attached as Exhibit 6. As noted in 

section (n) below, the 2009 Airways balance sheet includes the acquisition of 

several aircraft by JetLease, which Airways now intends to be transferred 

with JetLease to the individual owners of Airways. Airways will file an 

updated balance sheet with the Department once that transaction is 

complete. 

 As explained in greater detail in the financial statements, PNC Financial 

Services Group, Inc. has made available a line of credit to Group, and Group 

has agreed to make that line of credit available to Airways. Group also has 

been funding Airways during its pre-operating stage and currently holds a 

note, with interest-only payments through 2012, for an initial loan made in 

2008. A letter from PNC and the Airways promissory note are included as 

Confidential Exhibit C, and a Group letter confirming its financial support is 

included as Exhibit 7. 

(l,m) Actions and outstanding judgments.

 Certain subsidiaries of Group currently are defendants in a Federal lawsuit, 

Sonya Huisman v. United States et al., (M.D. Fla. Docket 08-cv-01074) 
Dynamic Aviation

Certificate Application

Exhibit 1

Page 6

arising out of a June 12, 2006 aircraft accident in Tampa, Florida that killed 

a pilot employed by Group. Those subsidiaries are defending the action.

 

 To Airways' knowledge, there are no other claims, lawsuits, or pending 

actions against Group or Airways, and none of the key personnel identified 

herein have any actions or outstanding judgments to report under 14 C.F.R. 

§ 204.3(l-m). 

(n) Fleet information. 

 Airways intends to begin passenger charter operations with a single MD-88 

aircraft, manufacturer's serial number 49760, that is configured for 139 

passengers. After it was acquired, this aircraft originally was held, along 

with several, non-operating DC-9 aircraft, by Airways' JetLease subsidiary, 

and the acquisition cost was shown on Airways' financial statements. 

However, Airways now intends to transfer JetLease back to Airways' owners 

and for JetLease to lease these aircraft to Airways for Part 121 or Part 91 

operations. 

 The first Airways aircraft is being re-registered with the FAA, and Airways 

will submit a copy of the safety affidavit required by 14 C.F.R. § 204(n)(3) 

when it is available. Airways intends to rely on certificated, third-party 

maintenance and repair organizations for all heavy maintenance. 

 Airways intends to grow its fleet of MD-80 series aircraft to a total of five 

aircraft employed in Part 121 operations during the first full year of 

operations, and all aircraft will be leased to Airways by JetLease or other 

entities. 

(o) Pending investigations, actions, or formal complaints filed by DOT 

or the FAA regarding compliance with Federal aviation laws or 

orders, rules, regulations, or requirements under those laws. 

To the carrier’s knowledge, no pending investigations, enforcement actions or 

formal complaints have been filed against Group or Airways concerning 

compliance with Federal aviation laws. Further, to the carrier’s knowledge, 

none of the key personnel identified herein have any pending investigations, 

actions, or complaints to report under 14 C.F.R. § 204.3(o). 
Dynamic Aviation

Certificate Application

Exhibit 1

Page 7

(p) Other charges. 

 To Airways’ knowledge, neither Group, Airways, nor any of the key personnel 

identified herein have had charges of unfair or deceptive or anticompetitive 

business practices, or of fraud, felony or antitrust violation, brought against 

them in the past ten years. 

(q) Aircraft accidents or incidents.

 

To Airways' knowledge, neither Group, Airways, nor any of the key personnel 

identified herein have experienced aircraft accidents or incidents that 

occurred in the preceding year or that remain under investigation by the FAA 

or the NTSB. On November 1, 2008, a Beech King Air operated by Group was 

reported missing, with three persons onboard, during a geological surveying 

mission in a remote area of Guyana. That apparent accident remains under 

investigation in Guyana and is identified in NTSB records as ERA09WA037. 

(r) Brief narrative history of the applicant. 

Michael A. Stoltzfus and his father, Karl D. Stoltzfus, Sr., formed Airways in 

2008 to complement the aviation operations that have been conducted since 

1967 by the Stoltzfus family through what is now Dynamic Aviation Group, 

Inc. Early in its history, predecessor K&K Aircraft, Inc. purchased a fleet of 

Beechcraft BE-18s and Douglas DC-3s that were configured for tanks for 

aerial application. In 1992 Group began a new line of business that involves 

releasing sterile insects to control, and in some cases eradicate, various pests, 

and Group is now recognized as the international leader in operating aircraft 

for sterile insect release. Group expanded again with the 1996 purchase of 

the U.S. Army's fleet of 124 non-pressurized Beech BE-90s. Today, Group 

operates versatile, safe and reliable multi-engine aircraft from bases 

worldwide and employs over 400 aviation-related professionals in missions 

including intelligence, surveillance and reconnaissance (ISR), airborne data 

acquisition, fire management, aerial application, and sterile insect technique. 

Its customers include federal, state and local governments, non-profit 

research organizations, and private corporations. 

To date, Airways has not conducted any business except the acquisition of 

several jet aircraft that will transfer as part of JetLease's assets. 
Dynamic Aviation

Certificate Application

Exhibit 1

Page 8

(s) Federal, State, and foreign transportation authority.

 

 While Group currently operates aircraft only under Federal Aviation 

Regulation ("FAR") Part 91, it also holds FAA operating certificate 

NBFA648G authorizing on-demand cargo operations under FAR Part 135 

and air agency certificate NBFR648G for its repair station activities. Airways 

has filed a pre-application statement of intent (2DYA562P) describing its 

proposal to begin passenger operations, and Jeff Riddell of the FAA Flight 

Standards District Office in Greensboro, NC is the Certification Project 

Manager. 

 

(t) Operating projections and a description of the service to be 

operated. 

 Airways proposes to begin passenger charter operations in August 2010 with 

its first MD-80 series aircraft. It intends initially to focus on charters for 

collegiate and professional sports teams and for other public and private 

charterers. 

 

 Exhibit 8 includes forecast first-year expenses and basic operating statistics 

for the proposed passenger operation, as well as forecast balance sheet for the 

first full year of operations. Projected revenue and a summary of the forecast 

are provided as Confidential Exhibit D. Both exhibits were prepared by 

Airways CFO Merle Zook. 

 

 Airways understands that charters of the type it will offer typically involve 

low aircraft utilization and "ACMI" contracts, under which charterers will be 

directly responsible for fuel costs.1

 

/ To summarize its forecast, Airways 

anticipates that its start-up costs related to passenger charter operations will 

be $3,488,955 and that its first full year's operating expenses will total 

$8,457,423. 

 The capital required for Airways to conduct its initial services and to meet 

the Department's financial fitness requirement will be provided by Group, 

which is making available a line of credit. Exhibit 9 summarizes Airways' 

capital requirements and funding. 

1/ Where, as here, a party other than the carrier is contractually responsible for 

certain operating expenses, the Department does not include those expenses 

in calculating financial reserve requirements. See, e.g., Platinum Airlines, 

Inc., Order 2005-10-13 at 4; Primaris Airlines, Inc., Order 2004-7-8 at 2-3. 
Dynamic Aviation

Certificate Application

Exhibit 1

Page 9

Airways does not anticipate a near-term net annual change in aircraft fuel 

consumption of 10 million gallons or more, and it has determined that 

adequate fuel is available for this service. To the extent the Department 

nonetheless concludes that grant of the requested authority would constitute 

a major regulatory action, Airways requests that the Department waive the 

requirement that an Energy Statement under 14 C.F.R. Part 313 be 

prepared. 

(u) Montreal Agreement (relating to liability); family assistance and 

passenger manifest plans. 

 

 Airways will file the required counterpart of the Montreal Agreement in 

Docket OST-1995-236, and it has filed a family assistance plan in Docket 

OST-1996-1960. As Airways does not currently propose international service, 

no passenger manifest plan pursuant to Docket OST-1998-3305 need be filed. 

 

(v) Certification. 

Attached as Exhibit 10.
Dynamic Airways 

Certificate Application 

Exhibit 2 

Page 1
Dynamic Airways 

Certificate Application 

Exhibit 2 

Page 2
Dynamic Airways 

Certificate Application 

Exhibit 2 

Page 3
Dynamic Airways 

Certificate Application 

Exhibit 2 

Page 4
Dynamic Airways 

Certificate Application 

Exhibit 2 

Page 5
Dynamic Airways 

Certificate Application 

Exhibit 3
Dynamic Airways d/b/a 

Dynamic Aviation

Key Personnel

Michael 

Stoltzfus

President & CEO

Lee Steele

VP Operations

Wayne Branan

Director, 

Maintenance

Gray Thomason

Chief Inspector

PD Weston,

Director, Safety

Julie Acheson

Director, InFlight

Rand Walters

Director, 

Operations

Don McLean

Chief Pilot

David Hull

Director, Bus 

Systems

Merle Zook

CFO

Aaron Lorson

Executive VP

Dynamic Airways 

Certificate Application 

Exhibit 4
Michael A. Stoltzfus 

President & Chief Executive Officer

PO Box 7 Bridgewater, Virginia 22812

Office 540-828-6070

PROFESSIONAL EXPERIENCE

Dynamic Aviation 

2006 – present President & Chief Executive Officer

Lead continued growth of company operating 70 aircraft with 400 employees in 10 

countries at 25 bases serving over 90 customers 

Created organizational alignment via the implementation of Vision Mission and Values, 

the Balanced Score Card (BSC), Strategy Map, and Middle Manager Bonus System. 

Lead start up of Airways business unit

2003 – 2006 President & Chief Operating Officer

Responsible for leadership and supervision of seven vice-presidents 

Develop annual strategic plan, supplying goals and objectives and ongoing review of 

results

Accountable for overall operational and financial performance of company

2002 –2003 Chief Operating Officer 

Spearheaded strategic operating plan in coordination with management team

Established and implemented sales and marketing objectives

Administered flight operations of 40 aircraft at ten international and domestic bases

1999 - 2002 Executive Vice President/Vice President Flight Operations

Lead flight operations consisting of 35 aircraft at eight international and domestic bases

Work in strategic planning with management team

1996 - 1999 Vice President Flight Operations

Lead the growth of operations from ten aircraft at two bases to 30 aircraft at ten bases

Served as company chief pilot

Managed all flight operations

1995 - 1996 Manager Flight Operations

Base manager/captain for the Central American Screwworm Program

Responsible for oversight of company operations at the California Medfly Program

1992 - 1994 Base Manager, California Medfly Program

Lead growth from one aircraft to five aircraft

Northern Air Cargo 

1994 – 1996 Flight Engineer

DC6 Flight Engineer for Alaska’s leading 121 air cargo carrier

De-Ice Systems International 

1990 – 1995 President and Co-Founder

Lead growth of start-up company focused on the De-Ice Components market 

RATINGS AND CERTIFICATES

Commercial, 1991

AMEL, 1991

ASEL, 1990

Private, 1990

ATP, 1996

Reciprocating Engineer, 

1994

DC-3 Type Rating, 1992

DC-3S Rating, 1997

BE-1900 Type Rating, 1997

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 1
VOLUNTEER ACTIVITIES

Young Life Harrisonburg/Rockingham Chair 2008-present 

Bridgewater Retirement Community

 Foundation Board Member 2007-present

James Madison University – STEM EAC Advisor/Member 2009-Present

The Seed Company Vice Chair 2007-present

Young Presidents Organization Member 2005-present 

Rotary Club Member 2001-present

LeTourneau University Advisor Committee member 2002-2003

Air Serv International Director 2001-2006

EDUCATION

Eastern Mennonite University (NG) 1997

Harrisonburg, VA

 

Harvard Business School Strategic Finance for Smaller Businesses, 2001

 (Executive Education) Owner/President Management Program, 2002-2004

 Making Corporate Boards More Effective, 2005

 Leading Change and Organizational Renewal, 2006

 Building New Business in Established Companies, 2009

 

Young Presidents Organization Sustainable Marketing Leadership, 2008

 

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 2
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 3
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 4
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 5
LEE P. STEELE

ACADEMIC CREDENTIALS

Bachelor of Science, Industrial Management, 1972 

Georgia Institute of Technology

Master of Arts, Management, 1976

 Webster University 

Board Affiliations & Supplemental Education

Airline Transport Association (ATA) – Former Senior Advisory Council Member

National Air Carrier Association (NACA) – Former Board of Director Member

Aeronautical Radio, Incorporated (ARINC) - Former Board of Director Member

Miami Flight Training Academy - Past Chairman

F.B.I. International Terrorist School for Airline Executives

National Mediation Board (NMB) Interest-Based Bargaining school – Taught by Cornell University

Airline Transport Pilot (ATP) Rating – B-747-400 & B-727-200

 

PROFESSIONAL HISTORY

Dynamic Airways, LLC, Winston-Salem, NC 2009 to Present

Vice President, Operations 

Participating in the creation of a part 121 carrier with duties to include advising the owners of pertinent 

regulatory guidance, hiring the appropriate required staff and interfacing with the FAA on oversight and 

certification issues.

Champion Air, Bloomington, MN 2007 to 2009

President & CEO 

Called upon by the Champion Air Board and Northwest Airlines to facilitate an orderly shutdown, 

liquidation and dissolution of this 16 aircraft, 20 year old airline. Operational, financial and legal skills 

were required to meet all constituents’ needs without moving into the bankruptcy arena. 

Aloha Airlines, Inc., Honolulu, HI 2004 to 2006

Senior Vice President, Operations

Responsible for the entire operation of this 60 year old airline to include ancillary Cargo and Contract 

Services divisions. The position included oversight of 3,000 employees and a $300 million budget. 

Polar Air Cargo, Long Beach, CA 2000 to 2003

Vice President – Flight Operations 

Selected by General Electric to oversee the regulatory operations of the airline and plan the induction of 

$750 million in new B-747-400 aircraft assets. Oversight of operations included all pilot, dispatch, 

training and scheduling functions as well all labor relations with Air Line Pilots Association (ALPA). 

America West Airlines, Phoenix, AZ 1998 to 2000

Vice President - Flight Operations

Responsible for 120 aircraft fleet operation to include pilot operations, all flight crew training, dispatch 

functions, operational engineering, flight crew scheduling and interface with the NTSB.

Pan American Corporation, Miami, FL 1996 to 1998

Pan American World Airways, Inc. 1998

Executive Vice President - Operations

Managed all operational aspects of the airline to include flight, technical and customer relations functions.

Carnival Air Lines, Inc., 1997

President & Chief Executive Officer

Managed all operational, financial and sales/marketing aspects of this Florida-based airline 

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 6
Lee P. Steele...Page 2

OASIS, Inc. (Outsourced Automated Services and Integrated Solutions, Inc.) 1996 to 1997

Vice President, Flight Control Services

Took legacy software systems recovered from the Eastern Airlines estate and turned them into a viable 

and marketable flight control and reservation system. 

Arrow Air, Inc., Miami, FL 1995 to 1996

Vice President of Operations

Negotiated with the FAA and implemented new procedures resulting in the re-certification of the 

company to meet all federal requirements. Successful re-certification with the DoD to make airline 

CRAF qualified. 

MGM Grand Air, Inc., Los Angeles, CA 1993 to 1995

Vice President of Operations

Managed all Flight Operations, Maintenance, Flight Control and Ground Handling functions for this 

charter airline. 

Eastern Air Lines, Inc. Miami, FL 1980 to 1993

Miami Flight Training Academy

Chairman & President 1991 to 1993

Served as Officer and Board member of simulator training corporation that was developed to preserve the 

value of Eastern’s training facility and to enhance the value of the related assets as a going concern. 

Flight Operations

Vice President 1991 to 1993

Performed responsibilities associated with the shutdown of all Flight Operations to coordinate the orderly 

return and dispatch of 170 aircraft to designated lessor/purchaser. Directed and implemented the 

marketing and disposal of Eastern’s former $1.5 million international aviation radio system to American 

Airlines.

Systems Operations

Staff Vice President 1990 to 1991

Planned, organized and controlled the daily schedule of 800 flights to 80 domestic and international 

destinations utilizing 170 aircraft. Served as the Eastern Air Lines representative to the Department of 

Defense in planning and implementing Desert Shield and Desert Storm procedures in Iraq. 

Flight Operations

Assistant Chief Pilot 1980 to 1990 

Managed the operational and personnel aspects of Eastern’s largest base of operations for 1,200 pilots. 

Served as the liaison with the FAA Flight Standards District Office in the Southeast Region and the 

National Transportation Safety Board. Held numerous training and check airmen positions in addition to 

line flying. Obtained Airline Transport Pilot (ATP) Rating on B-727. 

U.S. Air Force, Texas & Germany 1972 to 1980

Pilot - In Texas, instructed American and Saudi Arabian pilots in jet training. In Germany held top-secret 

NATO clearance for access of European battle plans and missile procurement.

 

Overview

Operations – While serving as President, Vice President or Director of Operations, all regulatory functions of 

pilot/flight attendant hiring and training, dispatching, crew scheduling and simulator operations reported to me. I 

was the primary interface with the FAA, NTSB, NMB and DoD while at Aloha Airlines, Eastern Airlines, MGM 

Grand Air, Arrow Air, Carnival Airlines, Pan American, America West and Polar Air Cargo. 

Maintenance – While at Aloha, Pan Am, Carnival and MGM Grand, the Director of Maintenance reported directly 

to me. The performance and oversight of all FAA approved maintenance programs were my ultimate responsibility.

Maintenance programs included in-house as well out-sourced situations. 

Piloting – ATP Ratings on B-747-400 and B-727. Check Airmen qualification on Airbus A-300 and Boeing B-727. 

Air Force instructor on T-38 Talon and OV-10 Bronco. Additionally qualified on Air Force T-37 and Cessna 150 

and 172. Total time: 9,795 hours. Instructor time: 1,800 hours. Simulator instructor qualified on B-727/T-38.

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 7
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 8
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 9
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 10
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 11
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 12
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 13
Donald McLean

Educational Background 

 1971 University of North Dakota, Grand Forks, ND 

BSBA – Business Administration/Aviation Administration

1975 Webster University, St Louis, MO

M.A. – Business Administration

Employment History

2010 – Present Dynamic Airways

Position Held

 2010 – Chief Pilot

1994 – 2010 Midwest Airlines

Positions Held

 1994 – First Officer MD-80 

 1998 - Captain MD-80 

 1999 - MD-80 Simulator Instructor and Check Airman 

 2001 – MD-80Fleet Manager/Check Airman Supervisor

 2003 - Milwaukee Base Chief Pilot

 2005 – Present – System Chief Pilot

 Supervised 400 pilots 

Ensured FAA Regulatory Compliance

 2009 - B-717 Captain 

Committees Served 

 Corporate Safety Committee 

 Weekly and Daily Operations Review Committee 

Flight Standards Committee

Industry/FAA Operation Specifications Working Group

 Air Transport Association Operations Committee 

Substance Abuse - Union Committee

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 14
1991-1994 University of North Dakota 

Position Held 

Assistant Professor

Courses Taught 

Airline Operations

 Global Navigation 

Gas Turbine Engines

Large Aircraft Systems 

Crew Resource Management

 1980- 1991 Eastern Airlines 

Positions Held

Flight Engineer B-727 

Flight Engineer A-300 

First Officer DC-9 

First Officer B-727 

Captain DC-9 

1974- 1980 United States Navy 

Positions Held

Lieutenant Commander 

 Naval Aviator 

Advanced Jet Instructor TA-4 

 Transport Pilot DC-9 

Quality Assurance Officer

Airframes Officer

Scheduling Officer

Instrument Training Officer

Nuclear Weapons Courier

1971-1971 University of North Dakota, Grand Forks, ND, Flight Instructor 

1971-1972 MidWest Air Charter, Cleveland, OH, Charter Pilot

1972-1973 Lease-A-Plane, Ft. Lauderdale, FL Charter Pilot 

1973-1974 Meyer Aviation, Lake Elmo, MN Charter Pilot

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 15
Licenses 

Airline Transport Pilot 

Airplane Multi Engine DC-9 

Commercial Privileges 

Airplane Single Land and Sea

Private Privileges

Glider

Aircraft Dispatcher

Flight Engineer Turbojet

Flight Instructor Single and Multi Engine - Instrument

Ground Instructor Advanced and Instrument 

 Total Flight Time 18,000 hours

Awards 

Second Team All American Football Team – 1970 

Athletic Hall of Fame Induction - 1989 

Graduated Number one in Naval Flight Training - 1975 

Commodores List for Basic Flight Training - 1974 

 Commodores List for Basic Jet Training - 1975 

Commodores List for Advanced Jet Training – 1975 

Teaching Excellence Award – 1994 

 Honorary FAA Flight Safety Inspector - 1994 

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 16
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 17
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 18
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 19
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 20
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 21
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 22
Dynamic Airways 

Certificate Application 

Exhibit 5, Page 23
JULIE ANN ACHESON

OBJECTIVE

Seeking a challenging and rewarding career where my training and education will allow me to 

utilize my skills for continued professional growth and development.

SKILLS AND QUALIFICATIONS

Multi-tasked and have proven organizational and time management skills with the ability to 

effectively prioritize job assignments and responsibilities

Work effectively in high-pressure situations and promote a positive and productive work 

environment

Excellent communication and organizational skills

EXPERIENCE

2009 – Present Dynamic Aviation

 7996 North Point Blvd., Suite 201

 Winston Salem, N.C. 27106

 Director, In-Flight Services

 Responsibilities:

The safe conduct of all In-Flight personnel in accordance with 

company and FAA requirements

Liaison with FAA as required

Although secondary to ensuring the highest possible level of 

crewmember safety and proficiency, will be highly cognizant of 

fiscal responsibilities associated with the operation of the In-Flight 

department.

Coordinate with the Director of Operations with all formal 

correspondence between FAA, DOD and the Company

Ensure competence and currency of instructional staff and programs

While duties may be delegated to others, is responsible for the 

content and currency of the appropriate In-Flight operations 

manuals as well as reviewing required changes with the appropriate 

company personnel.

The selection, employment and assignment of In-Flight 

management personnel.

Oversee development of all programs and curriculum for the InFlight training programs and training bulletins.

Responsibility for adherence to all FAR’s as well as prohibiting 

implementation of arbitrary procedures or practices

Maintaining and certifying training records for all initial, recurrent 

and transition training. 

Will participate in duties as assigned in the Safety and Regulatory 

Compliance Manual 

Responsible for maintaining staffing levels as determined by 

operational needs

Establish policies, practices and guidelines to be followed by the 

flight attendants in performance of their duties in coordination with 

the Chief Pilot and Director of Operationst

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 24
Resolve any scheduling disputes in coordination with Crew 

Scheduling and the Flight Attendants;

Performs internal audits and checks of all training programs and 

materials for regulatory compliance. 

2003 to 2009 Pace Airlines

 4001 N. Liberty St.; Winston Salem, NC

 Director of In-Flight

 Responsibilities:

Liaison with governmental agencies, including the handling of formal 

correspondence between the FAA, DOD and the Company

The safe conduct of all In-flight personnel in accordance with 

Company and FAA requirements

Ensure competence and currency of instructional staff and programs

The selection, employment and assignment of In-Flight management 

personnel

Responsible for maintaining staffing levels for flight attendants as 

determined by operational needs

Oversee the development of all programs and curriculum for the InFlight training program and revisions and bulletins to the Flight 

Attendant Manual

Cognizant of fiscal responsibilities associated with the operation of the 

In-Flight department

Responsible for adherence to all FAR’s as well as prohibiting 

implementation of arbitrary procedures or practices

Maintaining and certifying training records for all initial, recurrent and 

transition training

Participate in duties as assigned in the Safety and Regulatory 

Compliance Manual

Achievements:

Instrumental in the process of achieving e-tops certification

Successfully completed mini evacuation, ditching and proving runs of 

Boeing 757 and 767

Implementing all facets of selection, hiring and training for a 300% 

growth of work force from October 2003 through 2005

Approval from the FAA on the rewrite of the flight attendant training 

program

1987 to 2003 CCAir, Inc., d.b.a. USAirways Express

Charlotte, NC

1999 to 2003 CCAir, Inc., d.b.a. USAirways Express

Manager of In-Flight Services

Responsibilities:

Manage Company Flight Attendants and Check Flight Attendants

Recruit, interview, and hire for Flight Attendant positions

Develop and implement revisions and bulletins to the Flight Attendant 

Manual with approval by the FAA

Ensure that Company Flight Attendants understand and comply with 

Company and Federal Aviation Rules, policies and procedures

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 25
Instruct and certify Flight Attendant and Check Flight Attendant 

training for new hire, yearly recurrent, transition and requalification 

classes according to 121 training requirements

Instruct and certify Pilot training in Crew Resource Management, 

Hazardous Materials, Security, Emergency Equipment and Emergency 

Evacuations according to 121 training requirements

Develop and implement new training programs

Schedule IOE and recurrent competency checkrides for Flight 

Attendants

Implement monthly reports to AFA union representatives, negotiate 

grievances and currently negotiating a new Flight Attendant contract

Implement Flight Attendant payroll

Coordinate with the Catering Department on the catering needs and 

budget

Report all information to our Maintenance Department on the 

substandard appearance of passenger cabins in Company aircraft

Perform flight attendant and check flight attendant duties when needed

Presented presentations to various work groups

1987 –1999 Flight Attendant/Check Flight Attendant

Responsible for the safety and comfort of all passengers

Adhere to all duties, policies and procedures outlined in the flight 

attendant manual and Company policies and procedures manual

Follow all Federal Aviation Regulations as required

Instruct IOE and recurrent competency checkrides

Utilize good judgment skills and conflict resolution techniques in 

various given situations

Achievements:

Developed new curriculum for In-Flight training

Successfully completed proving runs for the Dash 8 aircraft

1987 –1986 Manpower, Inc.,

Greeneville, NC

Primarily responsible for administrative support duties for various 

clients of the Company

1986 –1986 Broadway & Seymour,

Greeneville, NC

Administrative assistant for senior management of the Company

1985 –1986 Dalton, Morgan and Shook, Partners

Charlotte, NC

Administrative assistant for senior management of the Company

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 26
1984 –1985 Ohio Department of Rehabilitation and

Correction

Adult Parole and Probation Officer

Responsible for supervising case work of adults under the 

responsibility of the Ohio Department of Rehabilitation and Correction

1979 –1984 Lima Memorial Hospital

Lima, OH

Worked as a radiology transcriptionist, phlebotomist, various 

administrative support roles for data processing, public relations and 

hospital administration

1974 –1979 Robert Hall Clothes,

Lima, OH

Hired as cashier and promoted to bookkeeper for the Company

EDUCATION

Graduate of Lima Senior High School; Lima, OH, 1975

Jeff Magee Leadership Seminar 

Crew Plan 101, Sabre

Certified flight attendant on Shorts 360, Dash 8, 737, 757, and 767

COMPUTER SKILLS

Microsoft Word, Sabre Crew Trac and Crew Plan, Powerpoint and Excel

References furnished upon request

Dynamic Airways 

Certificate Application 

Exhibit 5, Page 27
December 31, 2008 December 31, 2009

Assets

Current

Cash $  $ 2,955

Accounts receivable  

Inventory 32,541 194,914

Total current assets $ 32,541 $ 197,869

Noncurrent Assets

Aircraft and engines not in service 1,505,702 $ $ 2,959,643

Property and equipment

Property and equipment 118,606 $ $ 231,354

Accumulated depreciation  (4,751)

$ 118,606 $ 226,603

Total assets $ 1,656,849 $ 3,384,115

Liabilities

Current liabilities

Accounts payable & accrued expenses $  $ 69,469

Total current liabiltities  69,469

Long term liabilities

Notes payable $ 1,656,849 $ 4,386,126

Long term liabilities 1,656,849 4,386,126

Total liabilities $ 1,656,849 $ 4,455,595

Equity

Members equity $  $ 

Member distributions  

Retained earnings  (1,071,480)

 (1,071,480)

Total liabilities & equity $ 1,656,849 $ 3,384,115

Dynamic Airways, LLC. d/b/a Dynamic Aviation

Proforma Balance Sheets

For the Month Ended

Unaudited

Unaudited Financial Information

Dynamic Airways 

Certificate Application 

Exhibit 6
Dynamic Airways 

Certificate Application 

Exhibit 7
August 31, 2010 November 30, 2010 February 28, 2011 May 31, 2011 August 31, 2011

Assets

Current

Cash 2,955 $ 2,955 $ 2,955 $ 2,955 $ 2,955 $

Accounts rece vab e  100,000 100,000 200,000 250,000

nventory 344,914 369,914 394,914 419,914 444,914

Total current assets 347,869 $ 472,869 $ 497,869 $ 622,869 $ 697,869 $

Property and equ pment

Property and equ pment 66,678 $ 66,678 $ 66,678 $ 66,678 $ 68,678 $

Accumu ated deprec at on (10,983) (14,316) (17,649) (20,982) (24,332)

55,695 $ 52,362 $ 49,029 $ 45,696 $ 44,346 $

Total assets 403,564 $ 525,231 $ 546,898 $ 668,565 $ 742,215 $

Liabilities

Current ab t es

Accounts payab e & accrued expenses 248,540 $ 277,400 $ 318,000 $ 504,710 $ 617,150 $

Tota current ab t t es 248,540 277,400 318,000 504,710 617,150Long term ab t es

Notes payab e 3,643,979 $ 4,683,173 $ 5,500,995 $ 6,255,186 $ 6,971,443 $

Long term ab t es 3,643,979 4,683,173 5,500,995 6,255,186 6,971,443

Total liabilities 3,892,519 $ 4,960,573 $ 5,818,995 $ 6,759,896 $ 7,588,593 $

Equity

Members equ ty  $  $  $  $  $

Member d str but ons     

Reta ned earn ngs (3,488,955) (4,435,342) (5,272,097) (6,091,331) (6,846,378)

(3,488,955) (4,435,342) (5,272,097) (6,091,331) (6,846,378)

Total liabilities & equity 403,564 $ 525,231 $ 546,898 $ 668,565 $ 742,215 $

Dynamic Airways, LLC. d/b/a Dynamic Aviation

Proforma Balance Sheets

For the Month Ended

Unaudited

Projected Unaudited Financial Information

Dynamic Airways 

Certificate Application 

Exhibit 8 

Page 1
2010 Proforma Total

2009 PreOperating PreOperating

Preoperating Expenses Expenses

Expenses JanuaryAugust From Inception

Sales

Revenues $  $  $ 

Expense

Wages and benefitsline staff $  $ 76,395 $ 76,395

Wages and benefitsadministrative 633,668 1,479,784 2,113,452

Maintenance and repairs 21,680 11,340 33,020

Aircraft leasing and insurance 30,787 155,820 186,607

Depreciation and reserves 8,527 6,232 14,759

Fuel 6,702 94,500 101,202

Administrative expenses 268,309 463,320 731,629

Other operating expenses 47,437 66,080 113,517

Total operating expenses $ 1,017,110 $ 2,353,471 $ 3,370,581

Income (loss) from operations $ (1,017,110) $ (2,353,471) $ (3,370,581)

Interest expense, net 54,369 64,005 118,374

Net Income (Loss) $ (1,071,479) $ (2,417,476) $ (3,488,955)

Unaudited

Dynamic Airways, LLC d/b/a Dynamic Aviation

Proforma Income Statements  Pre Operating Expenses

For the Period Ended

Projected Unaudited Financial Information

Dynamic Airways 

Certificate Application 

Exhibit 8 

Page 2
2010

PreOperating

January10 February10 March10 Apri 10 May10 June10 Ju y10 August10 Expenses

Sales

Revenues $ $ $ $ $ $ $ $  $

Expense

Wages and benefits ine staff  $ $ $ $ $ 11,813 $ 32,291 $ 32,291 $ 76,395 $

Wages and benefitsadministrative 114,512 114,512 207,422 207,422 207,422 207,422 210,536 210,536 1,479,784Maintenance and repairs        11,340 11,340

Aircraft easing and insurance       77,910 77,910 155,820

Depreciation and reserves 561 728 728 728 728 728 920 1,111 6,232Fue        94,500 94,500

Administrative expenses 48,565 68,445 68,565 68,525 48,565 63,525 48,565 48,565 463,320Other operating expenses 2,875 2,875 2,875 8,050 2,875 2,875 38,980 4,675 66,080

Total operating expenses 166,513 $ 186,560 $ 279,590 $ 284,725 $ 259,590 $ 286,363 $ 409,202 $ 480,928 $ 2,353,471 $

Income (loss) from operations (166,513) $ (186,560) $ (279,590) $ (284,725) $ (259,590) $ (286,363) $ (409,202) $ (480,928) $ (2,353,471) $

Interest expense, net 13,970 4,308 5,312 5,969 7,234 7,898 9,041 10,273 64,005

Net Income (Loss) (180,483) $ (190,868) $ (284,902) $ (290,694) $ (266,824) $ (294,261) $ (418,243) $ (491,201) $ (2,417,476) $

Dynamic Airways, LLC d/b/a Dynamic Aviation

Proforma Income Statements  Pre Operating Expenses

For the Months Ended

Unaudited

Projected Unaudited Financial Information

Dynamic Airways 

Certificate Application 

Exhibit 8 

Page 3
12 Month

Sep10 Oct10 Nov10 Dec10 Jan11 Feb11 Mar11 Apr11 May11 Jun11 Ju 11 Aug11 Tota

Sales

Revenues

Expense

Wages and benefits ine staff 52,083 $ 52,083 $ 64,583 $ 64,583 $ 86,311 $ 86,311 $ 119,571 $ 119,571 $ 152,831 $ 152,831 $ 166,300 $ 166,300 $ 1,283,358 $

Wages and benefitsadministrative 210,536 210,536 210,536 210,536 210,536 210,536 210,536 210,536 210,536 210,536 216,850 216,850 2,539,060

Maintenance and repairs 19,278 19,278 38,556 38,556 38,556 38,556 57,834 57,834 77,112 77,112 96,390 96,390 655,452

Aircraft easing and insurance 77,910 77,910 155,820 155,820 155,820 155,820 233,730 233,730 311,640 311,640 389,550 389,550 2,648,940

Depreciation and reserves 1,111 1,111 1,111 1,111 1,111 1,111 1,111 1,111 1,111 1,111 1,111 1,128 13,349

Fue 3,150 3,150 6,300 6,300 6,300 6,300 9,450 9,450 12,600 12,600 15,750 15,750 107,100

Administrative expenses 48,525 148,565 49,725 49,805 50,051 49,811 51,291 51,171 52,531 52,371 53,771 53,771 711,388

Other operating expenses 5,935 42,040 8,995 8,995 13,103 45,158 12,113 52,268 15,173 51,278 22,283 22,283 299,624

Total operating expenses 418,528$ 554,673 $ 535,626 $ 535,706 $ 561,788 $ 593,603 $ 695,636 $ 735,671 $ 833,534 $ 869,479 $ 962,005 $ 962,022 $ 8,258,271 $

Income (loss) from operations

nterest expense, net 11,231 12,902 13,427 14,916 15,710 15,032 17,520 17,684 19,189 19,280 20,804 21,457 199,152

Net Income (Loss)

Dynamic Airways, LLC d/b/a Dynamic Aviation

Proforma Income Statements

For the Months Ended

Unaudited

Projected Unaudited Financial Information

Dynamic Airways 

Certificate Application 

Exhibit 8 

Page 4
Projected Launch Date August10

Fleet

Type: MD80's

Proving

Aircraft Run In Service

1 Jul10 Aug10 Lease

2 Nov10 Lease

3 Mar11 Lease

4 May11 Lease

5 Jul11 Lease

Charter Revenues

Minimum Monthly Hours, per Aircraft 50

Minimum Annual Hours, per Aircraft 600

ACMI Rate per hour $

Operating Expenses

Payroll

Crewing per aircraft 7

Administrative personnel 36

Salary & wages per employee

Crews $

Administrative personnel $

Benefits as % of salary and wages

Crews

Administrative personnel

Maintenance

Per block hour 378 $

Aircraft Leasing

Monthly lease, including insurance $ 77,910

Fuel

Cost per Gallon $ 3.00

Nonrevenue hours as % of revenue hours 1%

Fuel consumption, gallons/block hour 1050

Administrative Expenses

Monthly administrative support provided by

Dynamic Airways Group, Inc. 30,000 $

Depreciation and reserves

Office equipment, computers  5 year life

Estimated annual depreciation expense $ 13,800

Dynamic Airways, LLC d/b/a Dynamic Aviation

Assumptions for Financial Model Certificate of Public Convenience

Dynamic Airways 

Certificate Application 

Exhibit 8 

Page 5
Funding available, PNC Line of Credit $ 7,520,000

Funding provided by Dynamic Aviation Group, Inc. through 123109 1,656,849

Total funding provided and available $ 9,176,849

Capital Requirements

Preoperating Expenses $ 3,488,955

Equipment Purchases 274,354

12 Month Operating Expenses $ 8,457,423

DOT Reserve Required (25% 12 Month Op Exp) 2,114,356

Total Capital Requirement $ 5,877,665

Excess funding available $ 3,299,184

Dynamic Airways, LLC d/b/a Dynamic Aviation

Proforma Capital Requirement Schedule

Dynamic Airways 

Certificate Application 

Exhibit 9
Dynamic Airways 

Certificate Application 

Exhibit 10

March 5, 2010
CERTIFICATE OF SERVICE

I hereby certify that I have, this 5th day of March, 2010 caused the 

attached Application of Dynamic Airways, LLC d/b/a Dynamic Aviation for a 

Certificate of Public Convenience and Necessity to be served by electronic 

mail on the following persons: 

James Verre, Manager 

Jeff Riddell 

Greensboro Flight Standards District Office (AEA-FSDO-39) 

Federal Aviation Administration 

6433 Bryan Boulevard 

Greensboro, NC 27409-9419 

 

 John R. Mietus, Jr.