BEFORE THE 

DEPARTMENT OF TRANSPORTATION 

WASHINGTON, D.C. 

) 

Amended Application of ) 

) 

Silk Way Airlines ) 

) 

Docket OST 2007-28603 

Docket OST 2007-28604 

for a foreign air carrier pennit pursuant ) 

to 49 U.S.C. § 41302 and ) 

an exemption pursuant to 49 U.S.C. § 40109 (c) ) 

to engage in cargo charter operations ) 

between Azerbaijan and the United States ) ________________________________ ) 

DECLARATION 

I, Shamsaddin Mirsalayev, state that Jam the Director of Silk Way Airlines; 

that 1 am authorized to make this Declaration on behalf of Silk Way Airlines; that I have 

read the attached amended application and exhibits and that the factual statements set forth 

therein are true and correct to the best of my knowledge and belief; and that the copy of the 

Air Operator Certificate issued to Silk Way Airlines by the State Civil Aviation 

Administration of the Republic of Azerbaijan included among the exhibits is a true and 

correct copy of such certificate. I declare under penalty of perjury wtder the laws of the 

United States of America that the foregoing is true and correct. 

Executed on February 12. 2015 

,, 
EXHIBIT 

SILK WAY - 1 

SILK WAY -2 

SILK WAY - 3 

SILK WAY - 4 

SILK WAY -5 

SILK WAY -6 

SILK WAY - 7 

SILK WAY - 8 

SILK WAY -9 

SILK WAY -10 

SILK WAY - 11 

SILK WAY - 12 

SILK WAY - 13 

SILK WAY - 14 

SILK WAY -15 

SILK WAY - 16 

SILK WAY - 17 

SILK WAY -18 

LIST OF EXHIBITS 

CONTENTS 

Corporate Information & Government Oversight 

Service Proposal 

Officers, Directors, and Key Personnel 

Ownership Information 

Stockholding of Officers, Directors, and Key Personnel 

Relationship with the Government of Azerbaijan 

Insurance Coverage 

Operator's Certificate 

Operating History 

Aircraft Inventory 

Maintenance Arrangements 

Agreements with Other Carriers Affecting Service Proposal 

Financial Data Summaries 

Financial Projections 

Governmental Financial Assistance 

Bilateral Agreement & Designation 

Safety & Tariff Violations 

Waiver of Liability Limits Under Warsaw/Montreal Convention 
EXHIBIT SILK WAY - 1 

CORPORATE INFORMATION & GOVERNMENT OVERSIGHT 

I. Background Information 

"Silk Way Airlines" Limited Liability Company ("Silk Way Airlines" LLC, "Silk Way 

Airlines" or "Silk Way") is a limited liability company founded and registered as a legal entity 

on August 16, 2001, under the applicable laws of Azerbaijan (Registration Certificate Number 

973, dated August 16, 2001). 

Silk Way holds an Air Operator's Certificate {AOC-008) most recently issued to it on 

March 19, 2014, by the State Civil Aviation Administration (SCAA) of the Republic of 

Azerbaijan. Silk Way is registered with the International Civil Aviation Organization "ICAO" 

(ICAO Code: AZQ), is an associated member of lATA {lATA Code: ZP*), and a trustee member 

of The International Air Cargo Association {TIACA). 

Silk Way specializes in cargo transportation services using a fleet of eleven (11) aircraft, 

including: six (6) Ilyushin IL-76TD, three (3) Antonov AN-12 aircraft, and two (2) Ilyushin IL76-TD-90 aircraft with noise chapter 4 certified engines. Silk Way is a major operator in 

commercial air cargo services in Azerbaijan, both on domestic and international air routes. 

Silk Way's annual revenue for years 2011, 2012 and 2013, respectively was USD 

$465,249,195.50, USD $ 463,322,870.60; and USD $ 436,579,801.55. 

Silk Way is an Azerbaijan flag carrier, with management and operational control vested 

in Silk Way's officers and key management personnel, who are all nationals of Azerbaijan. A 

list of such personnel can be found in exhibit SILK WAY - 3. 

Silk Way is governed by the General Meeting of its holding members and its Directors. 

The General Meeting, based on Silk Way's Charter, has the authority to amend the Charter, 
EXHIBIT SILK WAY - 1 

establish the executive bodies of the company, approve annual financial statements of the 

company, make decisions with respect to its reorganization or liquidation, establish subsidiaries, 

branches and other affiliates and representative offices, and other key goveming decisions. The 

General Meeting delegates day to day operational management decision-making to the General 

Director and key management personnel subject to supervision and review by the General 

Meeting and Board Members (Directors). A list of Silk Way's Directors can be found in exhibit 

SILK WAY - 3. 

II. Specific Corporate Information 

a. Name and Address of Applicant: 

"Silk Way Airlines" LLC 

Registered Address: 103 Nizami Street, Sabail, AZ-1010, Baku, Azerbaijan 

Postal Address: Heydar Aliyev Intemational Airport, AZ-1044, Baku, Azerbaijan 

b. Corporate Form & Country of Organization: 

As noted above, Silk Way Airlines is a Limited Liability Company organized under the 

laws of Azerbaijan and incorporated on August 16, 2001. 

c. The address of the govemmental authority having regulatory jurisdiction over Silk 

Way's air transport operations is: 

State Civil Aviation Administration of the Republic of Azerbaijan 

11 Azadlig Avenue, Baku, AZ-1095, Azerbaijan 
EXHIBIT SILK WAY - 2 

SERVICE PROPOSAL 

Silk Way requests a foreign air carrier permit authorizing it to engage in charter cargo air 

transportation operations (1) between any point or points in Azerbaijan and any point or points in 

the United States; and (2) between any point or points in the United States and any point or 

points in a third country or countries subject to pertinent national, bilateral and international rules 

and regulations. Silk Way intends to begin operating the requested services immediately after 

the Department issues the requested permit. Silk Way intends to operate primarily its Ilyushin 

IL-76TD-90 type aircraft for its proposed services. Silk Way may further expand the proposed 

services using other types of aircraft in the future. 
EXHIBIT SILK WAY - 3 

OFFICERS, DIRECTORS, AND KEY PERSONNEL 

The following are the names, residence addresses, and business addresses of all Silk 

Way's key management personnel as defined in Section 211.20(d) of the Department's 

Regulations. All key management personnel are citizens of the Azerbaijan Republic. Silk 

Way's Board of Directors consists of citizens of the Azerbaijan Republic. The individuals listed 

below are not related by blood or marriage. 

Because Silk Way has been providing direct air service for more than one year, it is not 

necessary to summarize the business experience of its directors, officers, or key management 

personnel. See 14 C.F.R. § 211.20(d). 

Key Management Personnel 

Title(s) Name & Home Address Business Address Home Address 

Director Shamsaddin Mirsalayev Heydar Aliyev International A. Alasgar Street 4, 

Airport, AZ1 044, Baku, app. 51 

Azerbaijan Baku, Azerbaijan 

Deputy Director Sahib Kazimov Heydar Aliyev International R. Mammadov Street 

Flight Operations Airport, AZ1044, Baku, 22,app.69 

Azerbaijan Baku, Azerbaijan 

Deputy Director Rahim Islamov Heydar Aliyev International "D" Guneshli 6, app. 31 

Ground Operations Airport, AZ1044, Baku, Baku, Azerbaijan 

Azerbaijan 

Deputy Director Mustafa Azimov Heydar Aliyev International N. Narimanov Street 205, 

Commercial Airport, AZ1044, Baku, app. 18 

Azerbaijan Baku, Azerbaijan 

Adviser to Director Eldar Gambarov Heydar Aliyev International Topchubashev Street 

on Flight Safety Airport, AZl 044, Baku, 21 , app. 17 

Azerbaijan Baku, Azerbaijan 

Chief Pilot Azer Babayev Heydar Aliyev International Amirjan district, 

Airport, AZ1044, Baku, Damiryol station 1, Azerbaijan app. 17 

Baku, Azerbaijan 

Chief Pilot on Rafail Abdullayev Heydar Aliyev International Xandan Street 42B, 

personnel training Airport, AZ1 044, Baku, app. 74 

Azerbaijan Baku, Azerbaijan 

Adviser to Director Farid Aliyev Heydar Aliyev International Alizada Street 36A, 

on Quality and Airport, AZl 044, Baku, app.22 

Aviation Security Azerbaijan Baku, Azerbaijan 
EXHIBIT SILK WAY - 3 

Chief Accountant Marina Mordovskaya Heydar Aliyev International Bina district, Kolxoz 

Airport, AZI 044, Baku, Street 35, app. 15 

Azerbaijan Baku, Azerbaijan 

Supervisory Board 

Title(s) Name Business Address 

President Zaur Akhundov "SW Holding Limited Liability 

G. Gamidov Street, 3161 , Company" 

home 31, Baku, Azerbaijan Heydar Aliyev International Airport, 

Baku - Azerbaijan 

Director Emin Alakparzadeh, "Silk Way Development" Limited 

Aga Neyrnatulla Street, 23, Liability Company 

apt. I 01 , Baku, Azerbaijan Heydar Aliyev International Airport, 

AZ1 044, Baku, Azerbaijan 
EXHIBIT SILK WAY - 4 

OWNERSHIP INFORMATION 

Currently, Silk Way Airlines LLC is 60% owned by "Silk Way Holding" Limited 

Liability Company, a company formed and existing under the laws of Azerbaijan, and 40% 

owned by "Silk Way Development" Limited Liability Company, a company formed and existing 

under the laws of Azerbaijan. In turn, "Silk Way Holding" Limited Liability Company is 100% 

owned by "Silk Way Development" Limited Liability Company; and "Silk Way Development" 

Limited Liability Company is 95% owned by Mr. Zaur Akhundov, a citizen of Azerbaijan, and 

5% owned by "Silk Way Investment" Limited Liability Company, a company formed and 

existing under the laws of Azerbaijan and 100% owned by Mr. Zaur Akhundov, a citizen of 

Azerbaijan. Effective control of Silk Way Airlines LLC is vested in its Management and 

Supervisory Board. Supervisory Board of Silk Way Airlines LLC consists of two members: 

Mr. Zaur Akhundov, President and Mr. Emin Alakparzadeh, Director, both citizens of 

Azerbaijan. 

Effective operational control of Silk Way is vested in its Management and Supervisory 

Board, as set forth in exhibit SILK WAY - 3. 
STOCKHOLDINGS OF OFFICERS, 

DIRECTORS. AND KEY PERSONNEL 

EXHIBIT SILK WAY - 5 

Silk Way officers, directors, and key personnel do not hold any interest in any U.S. 

carrier. Silk Way Airlines LLC is a 100% owner of Silk Way West Airlines LLC, another Azeri 

AOC holder specializing in cargo air transportation utilizing Boeing 747-8F equipment. 

Mr. Akhundov, President of Silk Way, holds stock in Silk Way West Airlines LLC; and 

Mr. Mirsalayev, Director of Silk Way, is a Board Member of Silk Way West Airlines LLC. Silk 

Way Airlines LLC is also a 44.9% owner ofSW Italia, and Italian AOC holder. 
EXHIBIT SILK WAY - 6 

RELATIONSHIP WITH THE GOVERNMENT OF AZERBAIJAN 

As noted in exhibit SILK WAY - 1, Silk Way is a Limited Liability Company organized 

under the laws of Azerbaijan. In accordance with the applicable laws of the Republic of 

Azerbaijan, Silk Way is a separate legal entity having an independent balance sheet, separate 

property, and the rights to conclude contracts, acquire real, personal and intangible property 

rights, and bear independent liability. Silk Way acts under free-market principles whereby the 

State is not liable for any commitments of Silk Way, and Silk Way is not liable for the 

obligations of the State. Therefore, Silk Way has the authority to independently control its 

managerial decisions, and its officers, directors, and key personnel are charged with, and 

implement, that responsibility. 
EXHIBIT SILK WAY- 7 

mSURANCECOVERAGE 

Silk Way's insurance coverage meets the requirements of 14 C.F.R. Part 205. Its aircraft 

are insured by "Silk Way Insurance" OJSC, and Azeri insurer, which in tum underwrites its 

policy through other insurance companies worldwide, such as JLT Specialty Limited. An 

executed copy ofOST Form 6411 (Certificate oflnsurance) from Silk Way's insurer is attached 

hereto. 
0 AGENCY DISPLAY OF ESTIMATED BURDEN 

The public reporting burden for this COllection of information Is estinaled to 8llef'8ge 30 minutes pe- response. 

If you wish to comment on the accuracy of the estimate or make suggestions for reducing this burden, ~ease 

direct your comments to: U.S. Department of Tr..1sportatlon, Office of Aviation Analysis. X-56, 400 7 St .. SW, 

Washington. D.C. 20590. 

0 fiioe of the Secretary NOTE: For infamation on where~ file completed cq>ies of this form, see FILING INSTRUCTIONS beloW. 

of Transportation 

OMB No. 2106-0030 Elq)ires 2-2~ 

U.S. FOREIGN AIR CARRIERS 

CERTIFICATE OF INSURANCE 

POLICIES OF INSURANCE FOR AIRCRAFT ACCIDENT BODILY INJURY 

AND PROPERTY DAMAGE LIABILITY 

FlUNG INSTRUCTIONS: File a signed original of this form with the Federal AW!Iion Administration. Air Transportalion Div .. AFS-260, 800 Independence Ave., 

SW., Washington, DC 20591. (See EXCEPTION belo>N.) 

EXCEPTION: If Section 2.A. is filed in because the insured is a Canadian Charler Ai' Taxi Operator, file an original of this loon with the U.S. Depa1ment 

of Transportation, Special Authorities DiiAsion (X-46), 400 t" Streel SW. Washington, D.C. 20590 

(Please type information, except signatures.) 

THIS CERTIFIES THAT: SILK WAY INSURANCE QJSC 

(Name of Insurer) 

has issued a policy or policies of Aircraft Liability Insurance to SILK WAY AIRLINES LIMITED and/or SILK WAY WEST 

AIRLINES, 1Q~ Nizami ~jr., Baku, Az~rb§!ijan, AZ1000 

(Name, address and FAA Certificate number of Insured Foreign Air Carrier) 

effective from until ten (10) days after written notice from the insurer or carrier of the intent 

to terminate coverage is received by the Department of Transportation. 

NOTE: Part 205 of the Department's Regulations does not allow for a predetermined termination date, and a certificate showing such a 

date is unacceptable. 

1. The Insurer (Check OneJ: 

0 is licensed to issue aircraft insurance policies in the United States; 

cgJ is licensed or approved by the government of AZERBAIJAN to issue aircraft insurance policies; or 

0 is an approved surplus line insurer in the State(s) of 

2. The insurer assumes, under the policy or policies listed below, aircraft accident liability insured to minimums at least equal to the 

following during operation, maintenance, or use of aircraft In 'foreign air transportation' as that tem1 is defined in 49 U.S. C. 40102. 

(QQme!§.l§ ~Q12 i£!J,ble ~~ti2!.! A B Qr Q ~!2,w): 

A. CANADIAN CHARTER AIR TAXI OPERA TORS WITH PART 294 AUTHORITY ONLY 

The aircraft covered by this policy have: (1) 30 or fewer passenger seats and a maximum payload capacity of 7,500 pounds or 

less: and/or (2) a maximum authorized takeoff weight on wheels of no more than 35,000 pounds. (Complete separate or 

com/},in~!l coverage a~ appropriate): 

0 Separate Coverages: Min!mumUmiJ. 

POiic'{,NQ. T~ofLieb it'{, E~~h person Each Occurrf},nce 

Combined Bodily Injury (Excluding Passengers other 

than cargo attendants) and Property Damage Liability $75,000 $2,ooo,ooo•(see nae) 

Passenger Bodily Injury $75,000 $75,000 x 75% of 

total number of 

passenger seats 

installed in aircraft 

0 Combined Coverage: This combined coverage is a single limit of liability for each occurrence at least equal to the required 

minimums stated above for bodily injury (excluding passengers), property damage, and passenger bodily injury. 

Policy No. Amount of Coverage U.S. 

Dollars 

0 This policy covers CARGO operations only and excludes passenger liability insurance. 

NOTE: If the aircraft covered by this policy have more than 30 passenger seats or more than a maximum payload capacity of 

7,500 pounds, the minimum limit per occurrence shall be $20,000,000. 
OST Form 64118. FOREIGN AIR CARRIERS OPERATING SMALL AIRCRAFT 

The aircraft covered by this policy are SMALL AIRCRAFT (i.e., with 60 or fewer passenger seats or with a maximum payload 

capacity of 18,000 pounds or less). (Complete separate or combined coverage as appropriate): 

0 Separate Coverages: Minimum Limit 

PolicvNo. Type of Liability Each person Each Occurrence 

Combined Bodily Injury (Excluding Passengers other 

than cargo attendants) and Property Damage Liability $300,000 $2,000,000 

$300,000 x 75% of 

total number of 

Passenger Bodily Injury $300,000 

passenger seats 

installed in aircraft 

0 Combined Coverage: This combined coverage is a single limit of liability for each occurrence at least equal to the required 

minimums stated above for bodily injury (excluding passengers), property damaged, and passenger bodily injury. 

Policy No. Amount of Coverage U.S. Dollars 

D This policy covers CARGO operations only and excludes passenger liability insurance. 

C. FOREIGN AIR CARRIERS OPERATING LARGE AIRCRAFT 

The aircraft covered by this policy are LARGE AIRCRAFT (i.e .• with more than 60 passenger seats or with a maximum payload 

capacity of more than 16,000 pounds). (Complete separate or combined coverage as appropriate): 

D Separate Coverages: Minimum Limit 

Policy No. Type of Liability Each person Each Occurrence 

Combined Bodily Injury (Excluding Passengers other 

than cargo attendants) and Property Damage Liability $300,000 

$300,000 

$20,000,000 

$300,000 x 75% of 

total number of 

Passenger Bodily Injury 

passenger seals 

installed in aircraft 

~ Combined Coverage: This combined coverage is a single limit of liability for each occurrence at least equal to the required 

minimums stated above for bodily injury (excluding passengers). property damaged, and passenger bodily injury. 

COMPULSORY INSURANCE 

Policy No J51308087 Amount of Coverage LIMITS AS SHOWN ABOVE U.S. Dollars 

D This policy covers CARGO operations only and excludes passenger liability insurance. 

3. The policy or policies listed in this certificate insure(s) (Check One): 

~ Operations conducted with all aircraft operated by the insured 

D Operations conducted with the following types of aircraft: . 

D Operations with the following aircraft: (Use additional page if necessary) 

Make and Model FAA or Foreign Flag 

Registration No. 

4. Each policy listed in this certificate meets or exceeds the requirements in 14 CFR Part 205. 

SILK WAY INSURANCE OJSC JL T SPECIALTY LIMITED 

(Name of Insurer) (Name of Broker, if applicable) 

55, Z.Aiiveva sir. THE ST BOTOLPH BUILDING. 138 HOUNDSDITCH 

{Address) (Address) 

Baku. Azerbaiian, AZ1010 LONDON EC3A 7AW. 

(City, State, Zip Code) (City, State, Zip Code) 

Nivazi lmanov B.J Marler- AUTHORISED SIGNATORY 

Contact (person who can verify the effectiveness of the coverage) (Officer or authorized representative) 

--~·~99~4~1~2~5~98~3~8~5~0~~~~~-----·~9~9~4~12 5~9~8~3~8~02~~---- 0207 466 1377 0207 466 1444 

(Area Code, Phone Number (Area Code, Fax Number) (Area Code, Phone Number) (Area Code, Fax Number) 

1afllj Hor/er 

(Signature) 

9 April. 2014 

(Date) 
EXHIBIT SILK WAY - 8 

OPERATOR'S CERTIFICATE 

A copy of Silk Way's current Air Operator's Certificate is attached hereto. Silk Way's 

Air Operator's Certificate (AOC-008) was most recently issued to it on March 19, 2014, by the 

State Civil Aviation Administration (SCAA) of the Republic of Azerbaijan. The Air Operator's 

Certificate grants Silk Way the right to operate domestic and international commercial air 

services subject to the oversight of the SCAA. Subject to compliance with the national 

requirements and regulations of the Civil Aviation Authority of Azerbaijan, Silk Way's 

Operator's Certificate is routinely extended every two years. 
lstismarct sertifikatmm N!! AOC-008 

OOvva<b olma mOddati: 19.03.2016 

Air operator certificate #: AOC- 008 

Expitydate: March 19. 2016 

tSTtSMAR~I SERTiFiKA TI I AIR OPERATOR CERTIFICATE 

Dovlat Mnlki Aviasiya Administrasiyast/ 

State Civil Aviation Administration 

lstismarvmm adt: .. Silk Way vi irk:lt " MMC 

lstismarymm Onvaru: Heydor 81iyev Beyn~lxalq Aeroportu, 

AZ1044, Bak1 ~hari, ~rbaycan Respublikast 

Telefon: (+ 994 12) 437 47 57 

Faks: (+ 994 12) 493 38 59 

Elektron Onvam: silkwayltd@silkwayltd.com 

Operator name: "Silk Way Airlines ·· LLC 

Operator address: Heydar Aliyev International Airport, AZ/044, 

Baku city, the Republic of Azerbaijan 

Phone: (+ 994 12) 437 47 57 

Fax: (+ 994 12) 493 38 59 

E-mail: silkwayltd~ilkwayltd. com 

lstismar modd:Jti arzinda tacili alaqa: 

Telefon: (+ 994 77) 888 91 48 

Fales:(+ 994 12) 437 47 94; 

elektron Onvam: silkway.ops@silkwaltd.com 

Operativ 1'00barlikd3 tacili alaqa saxlamaq ~On 

malumat Uyu~larm lcrasJ lizr:l Talimatm A 

Hissasindal.l 02.2. paraqmfinda yerl~irilib 

Operational points of contact: 

Phone: (+ 994 77) 888 9/48 

Fax: (+ 994 12) 437 47 94: 

e-mail: silkway.ops@silkwaltdcom 

Contact details, at which operational 

management can be contacted withouJ undue 

delay are listed in the Operations Manual Part 

A. Cha ter 1 ra a h 1.102.2 

Bununla tasdiq edilir ki, "Silk Way Aviasirkati" MMC-na istismar mahdudiyyatl:nind:l gOstarilan ~artlarla Uv~lann yerina yetirilmasina dair talimat"a V3 

Azarbaycan Respublikasmm "Aviasiya haqqmda" Qanununa mOvafiq olaraq kommersiya hava d~1malanm yerina yetinn:~ya i= verilir. 

Date of issue: March 19,2014 V azifasi I Title: Direktorun mOavini I De ut Director 
EXHIBIT SILK WAY - 9 

OPERATING HISTORY 

Silk Way Airlines was founded and initially certified on October 9, 2001. Silk Way is an 

operator certified in the Azerbaijan Republic, and is an Azerbaijan flag carrier. The airline 

operates ad hoc cargo charters and charter programs around the world with Ilyushin IL-76TD-90, 

Ilyushin IL-76TD and Antonov AN-12 all-cargo aircraft. 

Beginning from May 07, 2007 Silk Way Airlines has operated new IL-76TD-90 aircraft 

equipped with the PS-90A-76 engines that comply with the provisions of standards of Aviation 

Rules AR-36, Stage IV and ICAO Annex 16, Volume 1, Chapter 4 (environmental protection). 

The airline operates ad hoc cargo charter flights and charter programs to such destinations as 

Dubai (U.A.E.), Urumqi (PRC), Kabul (Afghanistan), Kandahar (Afghanistan), Baghdad (Iraq), 

Istanbul (Turkey), Tbilisi (Georgia), Dushanbe (Tajikistan), Luxembourg (Luxembourg), Hahn 

(Germany), Neubrandenburg (Germany), Lyn ham (United Kingdom), Chateauroux (France), 

Bratislava (Slovakia), Eindhoven (Netherlands), and Tel Aviv (Israel). Overall, Silk Way 

operates to over 50 destinations worldwide. 

Over the years of its operations, Silk Way has consistently operated charters in support of 

the US Transcom and Air Mobility Command, as well as other ISAF program flights for 

transportation of relief and other goods into and out of Afghanistan. 

Silk Way has broad experience in the transportation of such cargo as oil well equipment, 

construction materials and heavy industrial equipment and machinery, sea and 20-foot 

containers, vehicles and spare parts, humanitarian and relief cargo, food, entertainment 

equipment, and large shipments of general cargo, and hazardous materials (carried in accordance 

with lATA Dangerous Goods Regulations). 
EXHIBIT SILK WAY - 9 

Silk Way is an active and generous contributor to the development of the Azerbaijani air 

cargo transportation industry and its infrastructure. In November of 2004 Silk Way completed 

the construction of, and commissioned, a new apron (134,907 m2

) and ten (1 0) aircraft parking 

lots at Baku's Heydar Aliyev International Airport. Silk Way is also a founder of the Baku 

Cargo Tenninal (BCT) at the Heydar Aliyev International Airport. Built in 2005, the BCT 

employs state of the art operation, inf01mation and management technologies. 

In 2006 Silk Way started the construction project of its own Maintenance Centre "SILK 

WAY Technics" which now performs all types of aircraft maintenance at the Heydar Aliyev 

International Airport, Baku (Republic of Azerbaijan). 

Silk Way is a parent company of its I 00% owned subsidiary, Silk Way West Airlines, a 

separate AOC holder specializing in cargo air transportation using Boeing 747-SF, and Boeing 

747-400F equipment. 
EXHIBIT SILK WAY - 10 

AIRCRAFT INVENTORY 

Silk Way currently operates six (6) Ilyushin IL-76 aircraft, three (3) Antonov AN-12 

aircraft, and two (2) modernized Ilyushin IL-76-90 aircraft as listed below. All aircraft operated 

by Silk Way are registered in Azerbaijan. Infonnation regarding lessors of the leased Silk Way 

aircraft is listed below. 

Aircraft Tvoe & Serial No. Basis of Use Registration No. 

IL-76TD, 0053460820 Owned 4K-AZ19 

IL-76TD, 05184 Leased from International Handling Company Ltd 4K-AZ31 

IL-76TD, 1043419632 Leased from International Handling Company Ltd 4K-AZ40 

IL-76TD, 1093420673 Leased from International Handling Company Ltd 4K-AZ41 

IL-76TD, 0093499982 Leased from AL-DANA (FZE) 4K-AZ60 

IL-76TD, 1023412411 Leased from Cargo Airline of AZAL 4K-AZ61 

IL-76TD-90, 2073421708 Leased from International Handling Company Ltd 4K-AZ100 

IL-76TD-90, 2083421716 Leased from International Handling Company Ltd 4K-AZ101 

AN-12BK, 8345605 Owned 4K-AZ23 

AN-12BK, 9346308 Leased from Shovkoviy Shlyax 4K-AZ63 

AN-12BK, 7345203 Leased from Euro-Asia Air Services FZE 4K-AZ63 

LESSOR REGISTERED ADDRESS Country of Incorporation 

International Handling Company Craigmuir Chambers, Road Town, UK 

Ltd P.O. Box 71 , British Virgin Island 

AL-DANA (FZE) NEZ-14, P.O. Box 9540, Shatjah, UAE 

UAE 

Cargo Airline of AZAL Heydar Aliyev International AZERBAIJAN 

Airport, AZ-1044, Baku. 

Azerbaijan 

Shovkoviy Shlyax 01001 , 13 Kikvidze street, Kiev, UKRAINE 

Ukraine 

Euro-Asia Air Services FZE Dubai Airport Free Zone, P.O. Box UAE 

54787, Dubai, UAE 
EXHIBIT SILK WAY - 11 

MAINTENANCE ARRANGEMENTS 

Silk Way will utilize primarily Ilyushin IL-76TD-90 aircraft or such other aircraft as it 

may have or acquire to conduct the proposed operations. Silk Way's aircraft inventory is set 

forth in exhibit SILK WAY - 10. Line and base maintenance for all Silk Way's aircraft is 

performed by "Silk Way Technics" at Heydar Aliyev International Airport/Baku, Azerbaijan, a 

maintenance organization approved under the applicable aviation regulations of Azerbaijan 

(AAR-145). 

Azerbaijan 1s a contracting state to the Convention on International civil Aviation 

("Chicago Convention"). Silk Way's aircraft are maintained in compliance with ICAO Annexes 

1, 6 (Part I), and 7. In addition, Silk Way's aircraft conform to respective type designs approved 

by the Interstate Aviation Committee and have been issued civil airworthiness certificates in 

accordance with the provisions of ICAO Annex 8. 
EXHIBIT SILK WAY - 12 

AGREEMENTS WITH OTHER CARRIERS AFFECTING 

SILK WAY'S SERVICE PROPOSAL 

Silk Way Airlines does not have any agreements with other carriers that may affect its 

services proposed by this application. 
EXHIBIT SILK WAY - 13 

FINANCIAL DATA SUMMARIES 

Silk Way is providing the Department with abbreviated audited statements for years 

2011 , 2012, and 2013. Silk Way respectfully requests that in addition to the attached statements, 

the Department consider its extensive operations over the past years as sufficient to demonstrate 

the capability of Silk Way to operate to the United States. 
Azgrbaycan Respublikast 

Bakt ~hgri 

"M&J accuracy 

consulting" 

NINIC 

M&J 

y 

STATEMENT 

Azerbaijan Republic 

Baku City 

"M&J accuracy 

consulting" 

LTD 

---------- -

On Financial and Economic Condition of a Civil Aviation Enterprise 

Baku. 31 October, 2012 

Name of the Enterprise: "Silk Way Airlines'' 

Postal Address: Heydar Aliyev International Airport, All 044, Baku, Azerbaijan. 

Tel.: (+994 12) 437 47 57 ext. 4119; 

Fax: (+994 12) 493 38 59. 

Examined: 

a) "M&J accuracy'' consulting L TO, Baku, Azerbaijan. 

Reached Conclusion: 

I. Financial and economic condition indices of the Enterprise reports of 31.12.20 I I testify that the 

CA ENTERPRISE COMPLIES WITH THE REQUIREMENTS TO THE STATED OPERATIONS. 

2. Basic indices of operations, findings and observations resulted from the analysis of the fmancial 

and economic condition of theCA Enterprise: 

2.1. The Enterprise revenue by 31.12.20 II comprised 365,918,492.26 AZN which equals to 

465,249,195.50 USD at the Central Bank exchange rate. 

The Enterprise operations in year 20 II were efficient. Net income in 20 I I constituted 25,721 ,697.29 

AZN or 32,704,001.64 USD. 

2.2. The continued correctly carried policy of the Enterprise Management to adopt a new strategy, to 

expand geography of the company flights and to boost new scheduled and charter flights, both domestic 

and international, by the operated aircrafts. 

As of 31.12.20 II the Enterprise had no arrears of wages, of budget or social funds. 

'·Silk Way Airlines" reports and substantiated forecast testify to the ability of the Enterprise to 

accumulate and sustain sufficient funds to ensure safe aircraft operations in compliance with the rules 

and requirements in the field of Civil Aviation and to keep up stable and efficient business. 

Director, 

"M&J accuracy" consulting L,.TD ::f1k .... ,. · ' ./(,. iE. Jafarov/ ;> 31 October, 2012 

Signature --- ~ 
Azarbaycan Respublikas1 

Bakt ~hari 

"M&J accuracy 

consulting" 

I\IINIC 

STATEMENT 

Azerbaijan Republic 

Baku City 

"M&J accuracy 

consulting" 

LTD 

On Financial and Economic Condition of a Civil Aviation Enterprise 

Oaku. 22 July. 2014 

Name ofthe Enterprise: ·'Silk Way Airlines·· 

Postal Address: Heydar Aliyev fnternational A1rport. AZ1044. Baku. Azerbaijan. rel. :(+994 12)4374775ext.41 19: 

rax: (+994 12) 497 10 38 

Examined: 

a) .. M&J accuracy .. consulting L TO. Baku. Azerbaijan. 

Reached Conclusion: 

I. Financial and economic condition indices of the Enterprise reports of 31.12.2012-

3 1.12.2013 testify that theCA ENTERPRISE COMPLIES WTTH THE REQUIREME TS 1"0 

THESTATEDOPERA fiO 1S. 

2. Basic indices of operations. findings and observations resulted from the analysis of the 

financial and economic condition of theCA Enterprise: 

2.1. The Enterprise revenue by 3 1.1 2.2012 comprised 363 708 453.42 AZ which equals to 

463 322 870.60 USD at the Central Oank exchange rate: by 31. I 2.2013 comprised 342 496 854.32 

AZN which equa ls to 436 579 801.55 U D at the Central Bank exchange rate. 

The Enterprise operations in years 2012-2013 were efficient. Net income in 20 12 constituted 

l 67J 41 5.33 1\ZN or 2 131 739.27 USD: net income in 2013 constituted 3 884 007.57 AZJ\' or 

4 950 933.80 USD. 

2.2. The continued conectl) carried policy of the Enterprise Management to adopt a new strategy. 

to expand geography of the company tlights and to boost new scheduled and charter tl ights. hoth 

domestic and international. by the operated aircrafts. 

J\s of 31.12.2013 the Enterprise had no arrears of wages, of budget or social funds. 

Director. 

.. M&.I:m;sng LTD 

Signature 

IE..Ia 22 Jul). 2014 
ACCOUNTING BALANCE SHEET 

SILK WAY AIRLINES 

Azyenimanat (AZN) 

31 December, 2011 

DATA .lJ.AHHblE 

at the beginning of 

the year (AZN) 

1 2 3 

I. ASSETS J. BHE060POTHblE 

AKTHBhl 

Intangible Assets HeMaTepuaJJbHbte aKTHBbt 793,407.78 

Investments 

Fixed assets OcHOBHbte cpe.ncTBa 208,082,197.61 

Long-term investments .ll.onrocpo'IHbte 16,556,248.44 «flHHaHCOBble BJJO)KeHHSI 

Capital investments to fixed KamtTaJJosnomeHHSJ B 

3,153,949.69 assets OCHOBHble cpe,nCTBa 

TOTAL FOR SECTION I HTOrO llO PA3.li.EJIY I 228,585,803.52 

II. CURRENT ASSETS II. 060POTHbiE 

AKTHBbJ 

Stocks 3anacbl 39,078,227.83 

Inward VAT BHYTPCHHHH H.LJ.C - .lJ.eOHTOpCKaSJ 

Ja,noJJmeHHOCTb ( nJJa TemH 

Accounts receivable (over no KOTOpOfi OmH,naJOTCSI - than 12 months) 6onee 'leM 'lepeJ 12 

MCCSIUCB DOCJJe OT'IeTHOH 

,naTbt) 

,lleOHTOpcKaSJ 

Accounts Receivable (due less Ja,nonmeHHOCTb (nJJaTemH 

than 12 months) no KOTOpOii O)KH,naJOTCSI B 105,369,610.91 

Te'leHHe12 MeCSJUeB IIOCJJe 

OT'IeTHOH ,naTbl) 

flpO'IHe aKTHBbl 107,589,058.92 

Cash .ll.eHemHbJe cpe.ncTsa 2,198,837.45 

TOTAL FOR SECTION II HTOrO no PA3.li.EJIY II 254,235,735.11 

BALANCE 6AJIAHC 482 821,538.63 

LIABILITIES OACCHB 

at the end of the 

year (AZN) 

4 

760,372.04 

206,093,727.49 

39,529,609.65 

9,399,495.48 

255,783,204.66 

41,346,956.77 

-

-

116,337,492.15 

201,960,479.63 

2,016,146.00 

361,661,074.55 

617,444,279.21 
Ill. STOCK AND Ill. KAnHTAJI H 

RESERVES PE3EPBbl 

Share capital YcTaBHLiii tcannTaJl 24,049,400.00 24,050,000.00 

Surplus Capital )lo6aBO'IHbiH KaUHTaJl 

Inward investments and IJ.CJlCBble ~HHaHCIIpOBaHHC - donations II UOCTYDJlCHHSI 

Retained Earnings (carried Hepacnpe.lleJlcunast 28,415,763.79 40,006,887.77 

forward) npHfibiJlb npOWJlbiX JlCT 

Non covered Loss HenoKpblTbiH y6LITOK - (carried forward} npOWJlbiX JlCT 

Retained Earnings (current Hepacnpe,lleJleunast 12,512,256.21 18,528,919.60 year) npn6btJlb OT'ICTIIOrO rO,lla 

Non covered loss (current HenoKpblTbJH y6LtTOK - - year) OT'ICTHOrO ro,lla 

TOTAL FOR SECTION III HTOfO no PA3)l.EJIY III 64,977,420.00 82,585,807.37 

IV. LONG-TERM IV. J!OJifOCPOlfHbiE 

LIABILITIES 06JI3ATEJibCTBA 

Loans 3aCMHbte cpe,llCTBa - - Other long-term obligations llpO'IliC .llOJlrOCpO'IHbiC - 06st3aTCJlbCTBa 

TOTAL FOR SECTION IV HTOfO llO PA3)l.EJIY IV -

V. SHORT-TERM V. KPATKOCPOqHhlE 

LIABILITIES llACCHBbl 

Loans 3aeMHbiC CpC,llCTBa 

Accounts Payable Kpe.lliiTopctcast 173,954,929.51 225,142,389.69 3a,llOJl'lKeHHOCTb 

Settlements with founders Pac'leTbt c y'lpe,llnTeJlstMH 

Deferred income )l.OXO.llbl fiy.lly~HX 87,159,503.81 80,352,200.23 nepliO,llOB 

Reserves of deferred expenses 

PeJepBbJ npe.llCTOHLQHX 3,664,729.48 229,363,881.92 paCXO,llOB 

TOTAL FOR SECTION V. HTOrO llO PA3)l.EJIY V. 264,779,162.80 534,858,471.84 

BALANCE 6AJIAHC 329,756 582.80 617 444,279.21 
ACCOUNTING BALANCE SHEET 

SILK WAY AIRLINES 

Azyenimanat (AZN) 

31 December, 2012 

DATA )l.AHHbiE at the beginning of 

the year (AZN) 

1 2 3 

I. ASSETS I. BHEOl>OPOTH bJE 

AKTHBbJ 

Intangible Assets HeMaTepuaJJbHbJe aKTH8bJ 760,372.04 

Investments 

Fixed assets 0CH08HbJe cpeJlCT8a 206,093,727.49 

Long-term investments )l,oJJrocpo<tHbJe 39,529,609.65 «JlHHaHC08bJe 8JJO)KeHHSI 

Capital investments to fixed KanHTaJJ08JJOmeuHSI 8 9,399,495.48 assets OCH08Hble cpeJlCT8a 

TOTAL FOR SECTION I MTOrO no PA3)l.EJIY I 255,783,204.66 

II. CURRENT ASSETS II. OJiOPOTHbiE 

AKTHBhl 

Stocks 3anacbJ 41,346,956.77 

Inward VAT BHyTpeuunu H)l.C 

)l,e6HTOpCKaSI 

JaJlOJJ)KeHHOCTb (nJJaTemu 

Accounts receivable (over no KOTOpOH O)KHJla IOTCSI - than 12 months) 6oJJee <JeM <tepeJ 12 

MeCSIUe8 DOCJJe OT<JeTHOH 

JlaTbl) 

)l,e6JtTOpCKaSI 

Accounts Receivable (due less JaJlOJJ)KeHHOCTb (nJJaTemH 

than 12 months) DO KOTOpOH O)KHJlaJOTCSI 8 116,337,492.15 

Te<teune 12 MeCSIUe8 nocJJe 

OT<JeTHOH JlaTbl) 

npo<tue aKTH8bJ 201,960,479.63 

Cash )l.euemubJe cpeJlCT8a 2,016,146.00 

TOTAL FOR SECTION II lfTOrO no PA3)l.EJIY II 361,661,074.55 

BALANCE l>AJIAHC 617,444,279.21 

at the end of the 

year (AZN) 

4 

753,862.54 

327,967,754.33 

51,717,254.92 

1,643,367.46 

382,082,239.25 

72,877 '785.18 

-

-

148,158,346.81 

200,252,665.67 

1,344,648.31 

422,633,445.97 

804 715,685.22 
LIABILITIES IlACCMB at the beginning of at the end of the 

the yea year 

III. STOCK AND III. KAOHT AJI H 

RESERVES PE3EPBhl 

Share capital YcTaBHbiii KamnaJI 24,050,000.00 24,050,000.00 

Surplus Capital .lJ,ooaBOlfHbiH KanHTaJI 

Inward investments and l}.eJieBbie «j>HHaHUtpOBaHHe - donations H nocTynJieHHH 

Retained Earnings (carried Hepacnpe~eJieHHaH 40,006,887.77 25,867,486.15 forward) npHObiJib npOWJibiX JieT 

Non covered Loss HenoKpbiTbiH y6LITOK - (carried forward} npOWJibiX JieT 

Retained Earnings (current Hepacnpe~eJieuuaH 18,528,919.60 1,338,732.26 year) npHObiJib OTlfeTHOrO ro~a 

Non covered loss (current HenoKpbiTbiH y6LITOK - - year) OTlfeTuoro ro~a 

TOTAL FOR SECTION Ul HTOrO 00 PA3.li,EJIY III 82,585,807.3 7 51,256,218.41 

IV. LONG-TERM IV. ,J!OJirOCPOlJHbiE 

LIABILITIES 06.H3ATEJihCTBA 

Loans 3aeMHbie cpe~CTBa - -

Other long-term obligations fipOlfHe ~OJirocpOlfHbie - o6H3aTeJibCTBa 

TOTAL FOR SECTION IV HTOrO ITO PA3.li,EJIY IV -

v. SHORT-TERM V. KPATKOCPOqHhlE 

LIABILITIES IlACCHBhl 

Loans JaeMHbie cpe CTBa 

Accounts Payable Kpe~HTopcKaH 225,142,389.69 470,875,744.10 Ja~OJiiKeH HOCTb 

Settlements with founders PaclfeTbi c ylfpe~HTeJIHMn 

Deferred income .LJ,oxo~bi 6y~y mnx 80,352,200.23 72,260,010.23 nepuo OB 

Reserves of deferred expenses PeJepBbi npe~cTOHUlHX 229,363,881.92 210,323,712.48 acxo~oB 

TOTAL FOR SECTION V. HTOrO 00 PA3.li,EJIY V. 534,858,4 71.84 753,459,466.81 

BALANCE liAJIAHC 617 444,279.21 804,715 685.22 
ACCOUNTING BALANCE SHEET 

SILK WAY AIRLINES 

Azyenimanat (AZN) 

31 December, 2013 

DATA ~AHHbiE at the beginning of 

the year (AZN) 

1 2 3 

I. ASSETS I. BHEOEOPOTHbiE 

AKTHBbi 

Intangible Assets HeMaTepnaJlbHble aKTHBbl 753,862.54 

Investments 

Fixed assets OcnoBHble cpeACTBa 327,967,754.33 

Long-term investments ~OJirOCpO"'Hble 51,717,254.92 !J!nHaHCOBbiC BJlOJKeHHSl 

Capital investments to fixed KannTaJioBJioJKeunst B 

1,643,367.46 assets OCHOBHbiC cpeACTBa 

TOTAL FOR SECTION I liTOrO flO PA3~EJIY I 382,082,239.25 

II. CURRENT ASSETS II. OliOPOTHblE 

AKTMBbl 

Stocks 3anaCbl 72,877,785.18 

Inward VAT BuyTpeuunn C - ~e6HTOpCK3S1 

3aAOJ1JKCHHOCTb (nJiaTCJKH 

Accounts receivable (over DO KOTOpOH OJKHA310TCS1 - than 12 months) 6oJiee "'CM qepn 12 

MCCstU,eB DOCJle OT"'CTHOH 

AaTbl) 

~efiHTOpCKaSI 

Accounts Receivable (due less 3aAOJ1JKCHHOCTb (nJiaTeJKH 

than 12 months) 

DO KOTOpoif OJKHAaiOTCSl B 148,158,346.81 

Te"'eHHe12 MCCSlli,CB DOCJIC 

OT"'CTHOH AaTbl) 

flpO"'IfC aKTifBbl 200,252,665.67 

Cash ~CHCJKHbiC CpCACTBa 1,344,648.31 

TOTAL FOR SECTION II HTOfO flO PA3~EJIY II 422,633,445.97 

BALANCE I>AJIAHC 804 715,685.22 

at the end of the 

year (AZN) 

4 

716,934.60 

309,537,199.11 

53,189,715.86 

1,679,623.93 

365,123,473.50 

52,753,685.71 

87,018,701.35 

78,621,613.89 

1,764,891.51 

220,158,892.46 

585 282,365.96 
LIABILITIES nACCHB at the beginning of at the end of the 

the yea year 

ill. STOCK AND III. KAnlfT A.JI H 

RESERVES PE3EPBhl 

Share capital YcTaBHbiH KannTaJI 24,050,000.00 24,050,000.00 

Surplus Capital )J,o6aBO'IHbiH KamnaJI 

Inward investments and l.J.eJieBble lflnHaHCHpOBaHHC 

donations " nocTynJieHHSI 

Retained Earnings (carried HepacnpeAeJiennaH 25,867,486.15 4,595,866.01 forward) npHfibJJib npOUJJibiX JieT 

Non covered Loss HenoKpblTbJH y6b1TOK 

(carried forward} npOWJibiX JieT 

Retained Earnings (current HepacnpeAeJieuuaSI 1,338,732.26 0.00 year) nplt6b1Jib OT'ICTHOrO rOA3 

Non covered loss (current HenoKpblTbJH y6bJTOK - - year) OT'ICTHOrO rOAa 

TOTAL FOR SECTION III HTOrO no PA3).(E.JIY III 51,256,218.41 28,645,866.0 I 

IV. LONG-TERM IV. ,l!OJirOcPOqHhiE 

LIABILITIES OliH3ATEJihCTBA 

Loans 3aeMHbiC cpeACTBa - -

Other long-term obligations npO'IHe AOJirOCpO'IHbiC - OfiSIJaTCJibCTBa 

TOTAL FOR SECTION IV HTOrO no PA3)1,EJIY IV -

V. SHORT -TERM V. KPATKOCPOqHbiE 

LIABILITIES nACCHBhl 

Loans 3aCMHbiC CpCACTBa 

Accounts Payable KpeAnTopcKaH 470,875,744.IO 418,586,035.04 

JaAOJI*CHHOCTb 

Settlements with founders Pac'ICTbJ c y'lpeAHTeJISIMH 

Deferred income )J,OXOAbl fiyAy~HX 12,260,0 I 0.23 55,360,738.11 nepHOAOB 

Reserves of deferred expenses Pe3epBbJ npeACTOSI~ux 210,323,712.48 82,689' 126.80 paCXOAOB 

TOTAL FOR SECTION V. HTOrO no PA3)1,EJIY V. 753,459,466.81 556,636,499.95 

BALANCE liA.JIAHC 804,7I5 685.22 585 282 365.96 
EXHIBIT SILK WAY- 14 

FINANCIAL PROJECTIONS 

Silk Way Airlines plans to operate IL-76TD-90 Stage 4 noise compliant aircraft for 

charters between Baku, Azerbaijan and continental U.S. (mainly Houston/IAH, TX and 

Chicago/ORD, IL). Estimated price per GYD-IAH-GYD flight is $522 000 with 20T load and 

$455 000 per GYD-ORD-GYD with 30T load. This calculation is based on the review of the 

market data, that showed the average cargo flow on similar routes in the year 2013. With the 

average estimated cost per flight of$458 000 and $405 000 accordingly, the average financial 

result per flight is $57 000. With the estimated 20 round-trip flights in the first year of 

operations, the financial result per year is estimated to constitute $1 140 000. 
EXHIBIT SILK WAY - 15 

GOVERNMENTAL FINANCIAL ASSISTANCE 

Silk Way does not receive, and does not expect to receive, any financial assistance from 

the government of Azerbaijan. 
EXHIBIT SILK WAY - 16 

BILATERAL AGREEMENT & DESIGNATION OF SILK WAY 

Silk Way has been designated by the Government of Azerbaijan to perform foreign air 

transportation services between the United States and Azerbaijan as is required by 49 U.S.C. 

41302. Pending the outcome of the ongoing US-Azerbaijan bilateral air transport negotiations, 

Silk Way Airlines' proposed services that are the subject of this application are based upon 

comity and reciprocity between the Government of the United States and the Government of 

Azerbaijan. 
EXHIBIT SILK WAY - 17 

SAFETY & TARIFF VIOLATIONS 

In the five years preceding the instant updated application, Silk Way was involved in one 

accident resulting in the loss of life. The accident involved its IL-76TD aircraft that crashed in 

the vicinity of Bagram Air Base (Afghanistan) on July 5, 2011. The crew of the aircraft died in 

the crash. Crew coordination, poor control of approaches by the local A TC, and general 

complicated geographic conditions were determined to be the causes of the crash. 

Following the accident, Silk Way, under the oversight of the State Civil Aviation 

Administration of Azerbaijan has undertaken a broad program of safety enhancing measures that 

included modification to its Flight Operations Manual, additional crew training programs, and 

internal safety audit programs. Silk Way has not been involved in any tariff violations. 
EXHIBIT SILK WAY - 18 

WAIVER OF LIABILITY LIMITS UNDER WARSAW /MONTREAL CONVENTION 

Attached are an original and four copies of OST Form 4523 (Waiver of liability Limits 

under Warsaw Convention) as is required by 14 C.F.R. § 211.20(t). 
Docket OST 95-236 

U.S. Department of Transportation 

Office of the Secretary of Transportation AGREEMENT 

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

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

of carriage filed by it with any government: 

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

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

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

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

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

destination, or agreed stopping place 

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

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

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

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

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

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

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

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

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

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

in the ticket envelope wi'h the ticket or attached to the ticket or {iii) on the ticket envelope: 

"ADVICE TO INTERNATIONAL PASSENGER ON LIMITATION OF LIABILITY 

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

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

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

and special contracts of carriage embodied in applicable tariffs provide that the liability of SILK WAY AIRLINES 

[certain 1• 

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

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

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

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

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

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

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

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

your airline or insurance company representative." 

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

13, 1966. The Agreement (Agreement 18900) became effective May 16, 1g66. On January 1, 1985, this Agreement became the 

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

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

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

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

other Carriers parties to the Agreement. 

•Either alternative may be used. 

(Signature and Date) 

(Printed Name and Title) 

2) months' written notice of withdrawal to DOT and the 

Te-6 -u_, r 2,~ 2.0/ s-

(Name and Address of Carrier) Silk Way Airlines. 

OST Form 4523 (Formerly CAB Form 263) 

-- -----

Heydar Allyev international Airport. Baku AZ-1044 

Azerbaijan 
U.S. Department of Transportation 

Office of the Secretary of Transportation AGREEMENT 

Docket OST 95-236 

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

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

of carriage filed by it with any government: 

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

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

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

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

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

destination, or agreed stopping place 

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

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

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

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

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

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

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

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

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

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

in the ticket envelope wi~h the ticket or attached to the ticket; or (iii) on the ticket envelope: 

"ADVICE TO INTERNATIONAL PASSENGER ON LIMITATION OF LIABILITY 

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

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

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

and special contracts of carriage embodied In applicable tariffs provide that the tiability of SILK WAY AIRLINES 

[certain ]• 

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

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

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

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

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

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

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

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

your airline or insurance company representative." 

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

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

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

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

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

5. Any Carrier party hereto may withdraw from this Agreement by giving twelve 2) months' written notice of withdrawal to DOT and the 

other Carriers parties to the Agreement. r: _..,.,.., # . 

(Signature and Date) 2-'0 o..-<.1 1'2/ 2..0/~ 

•etther alternative may be used. ....--

OST Form 4523 (Formerly CAB Form 263) 

(Printed Name and Title) trsalayev. Director 

(Name end Address of Carrier) Silk Wey Airlines. 

Heyder Allyev International Airport, Baku AZ·1044 

Azerbaijan 
U.S. Department of Transportation 

Office of the Secretary of Transportation AGREEMENT 

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

Docket OST 95-236 

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

of carriage filed by it with any government: 

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

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

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

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

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

destination, or agreed stopping place 

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

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

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

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

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

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

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

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

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

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

in the ticket envelope wi!h the ticket or attached to the ticket: or (iii) on the ticket envelope: 

"ADVICE TO INTERNATIONAL PASSENGER ON LIMITATION OF LIABILITY 

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

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

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

and special contracts of carriage embodied in applicable tariffs provide that the liability of SILK WAY AIRLINES 

(certain r 

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

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

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

agreed stopping place in the United States of America, 6abnlty of the carrier for death or personal injury to passengers is limited in most cases 

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

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

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

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

your airline or insurance company representative." 

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

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

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

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

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

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

other Carriers parties to the Agreement. 

•either alternative may be used. 

(Signature and Date) 

(Printed Name and Title) 

2) months' written notice of withdrawal to DOT and the 

T«d 'Z..U t' 2_, 2.0 Is-

(Name and Address of Carrier) Silk Way Airlines, 

OST Form 4523 (Formerly CAB Form 263) 

----- ----- . --·--·-- --

Heydar Aliyev intemational Airport, Baku AZ-1044 

Azerbaijan 
U.S. Department of Transportation 

Office of the Secretary of Transportation AGREEMENT 

Docket OST 95-236 

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

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

of carriage filed by it with any government: 

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

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

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

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

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

destination, or agreed stopping place 

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

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

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

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

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

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

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

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

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

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

in the ticket envelope wi~h the ticket or attached to the ticket; or (iii) on the ticket envelope: 

"ADVICE TO INTERNATIONAL PASSENGER ON LIMITATION OF LIABILITY 

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

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

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

and special contracts of caniage embodied in applicable tariffs provide that the tiability of SILK WAY AIRLINES 

(certain r 

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

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

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

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

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

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

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

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

your airline or insurance company representative." 

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

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

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

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

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

5. Any Carrier party hereto may withdraw from this Agreement by giving twelve 2) months' written notice of withdrawal to DOT and the 

other Carriers parties to the Agreement. ~ , r: / ~ ~ _ (Signature and Date) ~0 · t'~ 2..0 I,S"'" 

•Either aHemative may be used. 

OST Form 4523 (Formerly CAB Form 263) 

(Printed Name and Tille) 

(Name and Address of Carrier) Silk Way Airlines, 

Heydar Allyev lntemational Airport, Baku AZ·1044 

Azerbaijan 
U.S. Department of Transportation 

Office of the Secretary of Transportation AGREEMENT 

Docket OST 95-236 

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

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

of carriage filed by it with any government: 

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

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

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

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

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

destination, or agreed stopping place 

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

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

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

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

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

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

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

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

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

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

in the ticket envelope wi!h the ticket or attached to the ticket; or (iii) on the ticket envelope: 

"ADVICE TO INTERNATIONAL PASSENGER ON liMITATION OF LIABILITY 

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

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

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

and special contracts of carriage embodied in applicable tariffs provide that the liability of SILK WAY AIRLINES 

(certain r 

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

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

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

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

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

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

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

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

your airline or insurance company representative." 

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

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

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

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

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

5. Any Carrier party hereto may withdraw from this Agreement by giving twelve 2) months' written notice of withdrawal to DDT and the 

other Carriers parties to the Agreement. r:_ /A ~ _ 

(Signature and Date) tero <..<.~• t' _~ 2.0 I _s-

•Either aKemalive may be used. 

OST Form 4523 (Formerly CAB Form 263) 

(Printed Name and Title) 

(Name and Address of Carrier) Silk Way Airlines. 

Heyd;u Allyev International Airport, Baku AZ·1044 

Azerbaijan