### 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 an d 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 Depa rtment’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 inte rstate 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 fath er, 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 aircra ft 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 techniqu e. 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 char terers 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 ri sk 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 fitn ess 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 effectivel y 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. ci tizen and meets the De partment’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 th e accompanying Confidential Exhibits

A D.

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

respectfully requests that the Depar tment 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 incorporat ion; 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 Organi zation of Airways and the governing Statement in Lieu of Operating Ag reement dated December 31, 2008 are attached as Exhibit 2 . Airways shortly will provide certificates of good standing for Airways and Group.

(e) Citizenshi p 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 -- Mich ael A. Stoltzfus, Karl D. Stoltzfus, Sr., J. Merle Zook, and Aaron Lorson -- w ill 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 thei r 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 ma y be reached at the business address shown above and are U.S. citizens.

Michael A. Stoltzfus , LLC Member, Pres ident, and Chief Executive Officer Mr. Stoltzfus is spearheadi ng 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 Presiden t - 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 Colg an 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 Ti mco 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 stoc k is owned by five members of the Stoltzfus family, and two me mbers 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 Airw ays, Dynamic JetLease, LLC, is to be transferred by Airways to Airways' owners and would then be a "relevant" sister company.

(h,i) Subsidiaries; ownership an d 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 JetLea se 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 Gr oup are Dynamic AvLease, Inc., which owns and provides aircraft to Group, K&K Aircra ft, Inc., and Rockingham Aviation Corp.

(j,k) Financial statements.

Group has incorporated the financial information of Airways within its consolidated statements, which were pre pared 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 Ai rways 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 throug h 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 su bsidiaries are defe nding 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 se rial 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 organizati ons 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 he rein 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 violatio n, 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 oper ated 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 operat ions 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 bega n 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 expa nded 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 aviati on-related professionals in missions including intelligence, surveillance and reconnaissance (ISR), airborne data acquisition, fire management, aerial app lication, and sterile insect technique. Its customers include federal, stat e 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 carg o 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 Greensbor o, NC is the Certification Project Manager.

(t) Operating projections and a de scription of the service to be operated.

Airways proposes to begin passenger charter operations in August 2010 with its first MD-80 series aircraft. It inte nds initially to focus on charters for collegiate and professional sports team s 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 op erations. 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" cont racts, 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 se rvice. To the extent the Department nonetheless concludes that grant of th e requested authority would constitute a major regulatory action, Airways requ ests 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 1Dynamic Airways Certificate Application Exhibit 2 Page 2Dynamic Airways Certificate Application Exhibit 2 Page 3Dynamic Airways Certificate Application Exhibit 2 Page 4Dynamic Airways Certificate Application Exhibit 2 Page 5Dynamic Airways Certificate Application Exhibit 3Dynamic Airways d/b/aDynamic AviationKey PersonnelMichaelStoltzfusPresident & CEOLee SteeleVP OperationsWayne BrananDirector,MaintenanceGray ThomasonChief InspectorPD Weston,Director, SafetyJulie AchesonDirector, InFlightRand WaltersDirector,OperationsDon McLeanChief PilotDavid HullDirector, BusSystemsMerle ZookCFOAaron LorsonExecutive 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 2Dynamic Airways Certificate Application Exhibit 5, Page 3Dynamic Airways Certificate Application Exhibit 5, Page 4Dynamic 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 over sight 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 re lations with Air Line Pilo ts 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 cr ew 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 6Lee 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. Successf ul 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, Flig ht 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 trai ning 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 schedul e 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 Sh ield 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 Dir ector 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-h ouse 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 7Dynamic Airways Certificate Application Exhibit 5, Page 8Dynamic Airways Certificate Application Exhibit 5, Page 9Dynamic Airways Certificate Application Exhibit 5, Page 10Dynamic Airways Certificate Application Exhibit 5, Page 11Dynamic Airways Certificate Application Exhibit 5, Page 12Dynamic Airways Certificate Application Exhibit 5, Page 13

## Donald McLean

Educational Background

1971 University of North Dakota, Grand Forks, ND BSBA – Business Administrati on/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 Sp ecifications Working Group Air Transport Asso ciation 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, Gra nd Forks, ND, Flight Instructor 1971-1972 MidWest Air Charter, Cl eveland, OH, Charter Pilot 1972-1973 Lease-A-Plane, Ft. Laud erdale, 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 Ad vanced Jet Training – 1975

Teaching Excellence Award – 1994

Honorary FAA Flight Safety Inspector - 1994 Dynamic Airways Certificate Application Exhibit 5, Page 16Dynamic Airways Certificate Application Exhibit 5, Page 17Dynamic Airways Certificate Application Exhibit 5, Page 18Dynamic Airways Certificate Application Exhibit 5, Page 19Dynamic Airways Certificate Application Exhibit 5, Page 20Dynamic Airways Certificate Application Exhibit 5, Page 21Dynamic Airways Certificate Application Exhibit 5, Page 22Dynamic Airways Certificate Application Exhibit 5, Page 23

### JULIE ANN ACHESON

OBJECTIVE

Seeking a challenging and rewarding career wher e 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 or ganizational and time management skills with the ability to effectively prioritize job assignments and responsibilities

Work effectively in high-pressure situati ons 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 arbitrar y 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 24Resolve 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 arbitrar y procedures or practices

Maintaining and certifying training reco rds for all initia l, 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 thro ugh 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 Attend ants understand and comply with Company and Federal Aviation Ru les, policies and procedures Dynamic Airways Certificate Application Exhibit 5, Page 25Instruct and certify Flight Attend ant and Check Flight Attendant training for new hire, yearly recurre nt, 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 seni or management of the Company Dynamic Airways Certificate Application Exhibit 5, Page 261984 –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 27December 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 6Dynamic Airways Certificate Application Exhibit 7August 31, 2010November 30, 2010February 28, 2011May 31, 2011August 31, 2011AssetsCurrentCash 2,955$2,955$2,955$2,955$2,955$Accounts rece vab e100,000100,000200,000250,000nventory344,914369,914394,914419,914444,914Total current assets347,869$472,869$497,869$622,869$697,869$Property and equ pmentProperty 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 assets403,564$525,231$546,898$668,565$742,215$LiabilitiesCurrent ab t esAccounts payab e & accrued expenses 248,540$277,400$318,000$504,710$617,150$Tota current ab t t es248,540277,400318,000504,710617,150Long term ab t esNotes payab e 3,643,979$4,683,173$5,500,995$6,255,186$6,971,443$Long term ab t es3,643,9794,683,1735,500,9956,255,1866,971,443Total liabilities3,892,519$4,960,573$5,818,995$6,759,896$7,588,593$EquityMembers equ ty$$$$$Member d str but onsReta 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 & equity403,564$525,231$546,898$668,565$742,215$Dynamic Airways, LLC. d/b/a Dynamic AviationProforma Balance SheetsFor the Month EndedUnauditedProjected 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 22010PreOperatingJanuary10February10March10Apri 10May10June10Ju y10August10ExpensesSalesRevenues $$$$$$$$$ExpenseWages and benefits ine staff$$$$$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 11,34011,340Aircraft easing and insurance 77,910 77,910155,820Depreciation and reserves561728 728 728 728 728 920 1,1116,232Fue 94,50094,500Administrative expenses48,565 68,445 68,565 68,525 48,565 63,525 48,565 48,565463,320Other operating expenses2,8752,8752,8758,0502,8752,87538,9804,67566,080Total operating expenses166,513$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)$Interest expense, net13,9704,3085,3125,9697,2347,8989,04110,27364,005Net Income (Loss)(180,483)$(190,868)$(284,902)$(290,694)$(266,824)$(294,261)$(418,243)$(491,201)$(2,417,476)$Dynamic Airways, LLC d/b/a Dynamic AviationProforma Income Statements  Pre Operating ExpensesFor the Months EndedUnauditedProjected Unaudited Financial Information Dynamic Airways Certificate Application Exhibit 8 Page 312 MonthSep10Oct10Nov10Dec10Jan11Feb11Mar11Apr11May11Jun11Ju 11Aug11TotaSalesRevenuesExpenseWages and benefits ine staff52,083$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 210,536 210,536 210,536 210,536 210,536210,536 210,536 210,536 210,536 210,536 216,850 216,850 2,539,060Maintenance and repairs19,27819,278 38,556 38,556 38,556 38,556 57,834 57,834 77,112 77,112 96,390 96,390655,452Aircraft easing and insurance77,910 77,910 155,820 155,820 155,820 155,820 233,730 233,730 311,640 311,640 389,550 389,550 2,648,940Depreciation and reserves1,1111,111 1,111 1,111 1,111 1,111 1,111 1,111 1,1111,111 1,111 1,12813,349Fue3,150 3,150 6,300 6,300 6,300 6,300 9,450 9,450 12,600 12,600 15,750 15,750107,100Administrative expenses48,525 148,565 49,725 49,805 50,051 49,811 51,291 51,171 52,531 52,371 53,771 53,771711,388Otheroperating expenses5,93542,0408,9958,99513,10345,15812,11352,26815,17351,27822,28322,283299,624Total operating expenses418,528$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 operationsnterest expense, net11,23112,90213,42714,91615,71015,03217,52017,68419,18919,28020,80421,457199,152Net Income (Loss)Dynamic Airways, LLC d/b/a Dynamic AviationProforma Income StatementsFor the Months EndedUnauditedProjected Unaudited Financial Information Dynamic Airways Certificate Application Exhibit 8 Page 4Projected 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 Aircraf t 50 Minimum Annual Hours, per Aircraf t 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 wage s 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 hou r 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 5Funding 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 9Dynamic 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 Ne cessity to be serv ed by el ectronic 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.