LAW OFFICE OF JOHN MIETUS, LLC

6701 DEMOCRACY BOULEVARD, SUITE 300 

BETHESDA, MD 20817-7500 

JOHN R. MIETUS, JR. 

(202) 747-5212

(240) 396-5362 fax 

john@mietuslaw.com

July 17, 2013 

BY ELECTRONIC MAIL 

Ms. Lauralyn Remo 

Ms. Vanessa Balgobin 

Air Carrier Fitness Division 

U.S. Department of Transportation 

1200 New Jersey Avenue, SE 

Washington, DC 20590 

 Re: Orange Air, LLC, Dockets OST-2011-0073/0074 

 

Dear Ms. Remo and Ms. Balgobin: 

 Orange Air respectfully requests that the Department waive condition 9 of 

the certificate issued to it by Order 2011-11-31, condition 10 of the certificate issued 

by Order 2012-1-31, and 14 C.F.R. § 204.7 (the “Startup Conditions”) so as to 

extend, through November 30, 2013, the time within which Orange Air must 

commence actual flight operations in order to maintain its interstate and foreign 

certificate authority. These provisions, with waivers granted on November 27, 2012 

and March 29, 2013, currently require Orange Air to commence actual flight 

operations no later than July 31, 2013. However, Orange Air is still waiting for the 

Federal Aviation Administration to schedule a number of activities required to 

complete new entrant certification. Thus, Orange Air does not expect to receive 

final certification until later this year. 

Unforeseen Delays in FAA Availability 

 Despite the best efforts of its FAA project and frontline managers Jeff Hipps 

and Charley Beers and of the Flight Standards National Field Office (AFS-900), 

progress on Orange Air’s certification has been stalled by the limited availability of 

FAA resources. The national office must balance both new entrant certification and 

comprehensive inspections of existing air carriers, all in a challenging budget 

environment. As the government fiscal year progresses, Orange Air also is 

concerned that the FAA may need to await the new fiscal year beginning October 1 
Air Carrier Fitness Division 

July 17, 2013 

Page 2 

to complete Orange Air’s certification. For its part, Orange Air’s manuals are 

complete, and only completion of flight attendant training remains before initial 

training is complete. 

Updated Fitness Information 

 The Department’s April 17, 2013 letter waiving the Startup Conditions 

indicated that updated fitness information would be required to process a further 

waiver. As demonstrated by the attached exhibits and the following information, 

Orange Air continues to meet the statutory requirement for U.S. citizenship and the 

Department’s requirements for new entrant fitness as to management, compliance 

disposition, and financial resources. 

 Orange Air remains a U.S. citizen. Orange Air Holdings, the 100% owner of 

Orange Air, has added a new U.S. equity investor, and the Credno family 

investment has been reorganized. Today, interests in Holdings are distributed as 

follows: 

RWF Capital (original investors) 45.82% 

Frutaser, LLC (new investor) 34.29% 

Sabal Holdings, LLC (Credno family) 18.29% 

JO Holdings, LLC (original investor) 1.60% 

Jacob Serfati, a U.S. citizen, is the manager of Frutaser’s 100% owner, JS 

Management LLC; he owns 55% of JS and his wife, U.S. citizen Ori Serfati, owns 

the remainder. Both Frutaser and JS are Florida LLCs, and Mr. Serfati’s resume is 

included in Exhibit 5a. The Holdings investment previously held only by Frederick 

W. (“Chip”) Credno III is now owned by Sabal, a Delaware LLC, which in turn is 

owned 75% by Frederick W. Credno, Jr. and 25% by Chip Credno (who is also 

Sabal’s sole manager). Under the latest operating agreement (an executed copy can 

be provided to the Department when available), Holdings continues to have four 

U.S. citizen co-managers, now drawn from RWF and Frutaser -- Messrs. Franco, 

Reiter, Serfati, and Wolf; Holdings has no other key personnel. An updated 

citizenship affidavit is included as Exhibit 3a. 

 A few of Orange Air’s key personnel have changed since Order 2011-11-31; a 

current list follows: 

Fred Credno President and Chief Executive Officer 

Chip Credno Vice President 

Rick Aranha* Director of Operations (vice Paul Hook) 

Kurt Lugar Director of Quality Assurance and Chief Inspector 

Brooke Mayger Director of Maintenance 
Air Carrier Fitness Division 

July 17, 2013 

Page 3 

Robert Holder* Director of Safety and Security (vice Chip Credno) 

Tony Schoenecker* Chief Pilot 

Julie Acheson* Director of In-Flight (vice Roger Carbon, still with Orange Air) 

Geri Anselmi* responsible for administration and HR (vice Kim Hunter) 

Resumes for the new key personnel (shown with an asterisk above) are included in 

Exhibit 5a, and relevant FAA certificate numbers are shown in Confidential Exhibit 

C, which is being filed under seal with a request for confidential treatment under 

Rule 12. 

 Orange Air continues to have the proper compliance disposition. Based on 

information provided by the applicant and the 10%+ investor entities listed above, 

the investor principals named above, and its key personnel,1 Orange Air has no 

information to report under 14 C.F.R. § 204.3(l,m,o,p, and q). 

 

 Finally, Orange Air continues to have sufficient resources to meet the 

Department’s financial fitness test. Historical and current balance sheets and 

income statements are included in Exhibit 6a and reflect Orange Air’s payment in 

due course of substantially all of its pre-operating expenses. The applicant’s 

estimate of remaining, unpaid, pre-operating expenses and an updated financial 

projection for the first full year of operation are attached as Exhibit 8a. (Projected 

income information, and certain confidential assumptions, are redacted, and the 

unredacted pages are being filed under seal as Confidential Exhibit D.) The four comanagers of Holdings have updated the prior commitment of RWF’s principals to 

fund, if necessary, $2,387,865 in unpaid pre-operating expenses and one-quarter of 

the first year’s forecast operating expenses. Those commitment letters, with 

supporting bank letters, are attached as Exhibit 7a. 

 

1

 One individual is traveling abroad and unable to update compliance disposition. Orange Air will advise the 

Department on that person’s return if there is anything to report. 

Orange Air 

Exhibit 3a 

(1 page)
JULIE ANN ACHESON 

OBJECTIVE

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

utilize my skills for continued professional growth and development. 

SKILLS AND QUALIFICATIONS

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

effectively prioritize job assignments and responsibilities 

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

environment 

Excellent communication and organizational skills 

EXPERIENCE

August 21, 2012 to Present Orange Air 

 1722 Hangar Rd., Bldg. 147 

 Sanford International Airport 

 Sanford, FL 32773 

 Consultant 

 Responsibilities 

 Directing the In-Flight Department in all aspects of the 121 

certification process 

December 16, 2012 to Present Orange Air 

 Director of In-Flight 

 Responsibilities 

 Obtaining certification as a 121 Supplemental Charter operation. 

 Hiring, training and managing the Flight Attendants 

 Liaison to the FAA 

 Budgetary responsibilities of the In-Flight Department 

 Author of and revisions to the121 ATOS compliant In-Flight manuals

 Flying duties as flight attendant as needed

December 14, 2009 to August 9, 2012 Dynamic Airways 

 701 North Terminal Service Road 

 Greensboro, NC 27409 

 Director of In-Flight 

 Responsibilities 

 Certification of a start-up airline as a 121 Supplemental Carrier 

 Author of the ATOS compliant Flight Attendant Manual and Training 

Manual 

 Completion and updating of SAI’s 

 Hiring, training and managing of initial cadre of Flight Attendants 

 Successful completion of Table Tops, Aborted Take-off and Proving 

Runs 

 Budgetary responsibilities of the In-Flight Department 

 Responsible for maintaining staffing levels for flight attendants as 

determined by operational needs 

Orange Air 

Exhibit 5a 

(17 pages)
 The safe conduct of all In-flight personnel in accordance with 

Company and FAA requirements 

 Scheduling of all In-flight personnel within FAR requirements 

 Liaison with the FAA 

 Flying duties as flight attendant as needed 

October 27, 2003 to September 17, 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 as determined by operational needs 

 Oversee the development of all programs and curriculum for the Inflight training program and revisions and bulletins to the flight 

attendant manual 

 Cognizant of fiscal responsibilities associated with the operation of the 

In-flight department 

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

implementation of arbitrary procedures or practices 

 Maintaining and certifying training records for all initial, recurrent and 

transition training 

 Participate in duties as assigned in the Safety and Regulatory 

Compliance Manual 

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

Charlotte, NC 

August 1999 to February 2003 Manager of In-flight Services 

Responsibilities: 

 Manage Company Flight Attendants and Check Flight Attendants 

 Recruit. hire and manage the Flight Attendants 

 Develop and implement revisions and bulletins to the Flight Attendant 

Manual with approval by the FAA 

 Ensure that Company Flight Attendants understand and comply with 

Company and Federal Aviation Rules, policies and procedures 

 Instruct and certify Flight Attendant and Check Flight Attendant 

training for new hire, yearly recurrent, transition and requalification 

classes according to 121 training requirements 

 Instruct and certify Pilot training in Crew Resource Management, 

Hazardous Materials, Security, Emergency Equipment and Emergency 

Evacuations according to 121 training requirements 

 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 

August 1987 – August 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

Certification of Dynamic Airways as a 121 ATOS compliant Supplemental airline 

Pace Airlines: Certification for Etops. Certification of the Boeing 737, 757 and 767. 

Implementing all facets of selection, hiring and training for a 300% growth of work force from 

October 2003 through 2005. 

CCAIR: Certification of the Dash 8 aircraft. Development and approval of the 121 In-flight 

training programs. 

QUALIFICATIONS

 Certified Flight Attendant 

EDUCATION

Graduate of Lima Senior High School; Lima, OH 

Jeff Magee Leadership Seminar 

Crew Plan 101, Sabre 

Certified flight attendant on Shorts 360, Dash 8, 737, 757, MD80 and 767 

COMPUTER SKILLS

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

References furnished upon request 
GERALDINE ANSELMI 

 MANAGEMENT AND SUPERVISION 

A self-motivated, energetic, detail-oriented manager with over thirty years experience in 

the development of highly efficient, productive teams. Know how to analyze and solve 

complex/difficult problems. Areas of expertise include: quality control, the complete 

employee hiring and training process, the planning and implementation of new 

departments and stations; airline security and safety, excellent computer skills. 

PROFESSIONAL EXPERIENCE 

Orange Air, LLC September 2012 –Present 

Orange Air is a start up Part 121 Charter Airlines seeking DOT and FAA approval. 

Currently I am performing all Human Resources and accounting functions along with 

Manager of Stations. 

Avantair July 2011-Present 

Owner Services Representative 

 Avantair is a Fractional Ownership Company in Aviation. As Owner Services 

Representative, I am responsible for taking owner’s request for flights, ensuring 

the airports they wish to fly to have the capabilities, fuel, runway length and 

width for a Piaggio 180 to land and be handled by the local FBO. Resolves owner 

requests, questions, and concerns frequently requiring analysis of situations to 

determine possible internal process issues. Also book car rental, limos and 

catering request to the specification of the owner. As of January 2012, I was 

promoted to Quality Control Coordinator. This position ensures all trips are 

booked correctly, airports meet specifications, catering and rental cars and FBO. 

Falcon Air Express May 2010-July 2011 

Manager of Stations 

In charge of setting up new stations, ensuring compliance with all FAA regulations, 

hazmat and security policies and procedures. Designed and implemented training 

program for all charter stations, for aircraft handling (MD80), Hazmat, General Security. 

Made changes in Station Operations manual for compliance with 14 CFR Part 383, 

Carryon Baggage and Exit Seating Programs. Booking all crewmembers flights and 

hotels in order to cover all scheduled flights. Ordering ground equipment such as an 

airstart, GPU and air conditioning carts to support Falcon’s aircraft. On international 
flights completing all General Declarations, Crew Declarations and entering APIS 

information for crews and passengers. Qualified Instructor for Hazmat, Security, CSG 

and Customer Service and ATOS knowledgeable. . 

Capital Cargo International Airlines May 2006 to Feb. 2010 

Training Coordinator May 2006 to Feb. 2010 

Was the only employee in the training department and reported directly to the Director of 

Training. Capital Cargo added 757 to their certificate, I was responsible for developing 

and writing training manual for this aircraft to include initial, transition, upgrade and 

recurrent training policies and procedures. Other duties are as follows: 

 

 Schedule all Pilots and Flight Engineers for initial, recurrent, upgrade and/or 

recurrent training. Ensuring authorized ground instructors and Check Airmen are 

scheduled as per the needs of the training. And ensure training records, 

scheduling, and document policies and procedures are strictly adhered to, 

including: 

 Training records are handled properly, accurate, complete, organized, and secure 

 Documents for crewmember and dispatcher are valid and current (e.g., passports, 

licenses) 

 Ensure completed training records and other documents are promptly and 

correctly entered and filed and are entered into pertinent systems in a timely 

manner. 

 Maintain the training schedule and qualification records to ensure training 

requirements are met and that qualifications are properly documented 

 Audit and validate the training records and qualifications of affected employees 

and bring any discrepancies to the attention of the Director of Training and 

Standards. 

 Maintain a complete and accurate database of documents that is accessible to all 

required personnel 

 Assist in process development in order to maximize efficiency, reduce cost, and 

ensure regulatory compliance 

 Coordinate with the FAA, other Company departments, training providers, and 

affected employees to ensure all training requirements are met, scheduled, and 

clearly communicated 

 Coordinate with the Travel Department to ensure all travel and lodging 

requirements are met 
 Ensure efficient usage of training resources and assignment of affected employees 

to training 

 Ensure any qualification issues are addressed in a timely manner 

 Generate and update required reports 

 Coordinate with the Manager of Flight Operations training to assist other 

departments as required 

Manager of Security Mar. 2007 to Feb. 2010 

Liaison between Capital Cargo and Homeland Security. Responsibilities were to ensure 

total compliance by Capital Cargo with all rules and regulations as set forth by Homeland 

Security. 

B-727 Simulator Coordinator May 2009 to Feb. 2010 

Booking all outside companies and the FAA for simulator time in Capital Cargo’s B-727 

simulators. After sessions were completed, issuing invoices and taking payments for 

simulator usage. 

Pan Am Clipper Connection Jun.2005 to Oct. 2005 

Station Manager 

Responsibilities included overseeing the entire operation at St. Petersburg/Clearwater 

Airport. Hiring and training personnel for ticket counter and gate functions. Interacting 

with another company performing ramp and fueling functions and ensuring they were 

trained in accordance with Pan Am Clipper Connection standards. 

Company ceased operation at St. Petersburg/Clearwater Airport 

Skyservice Airlines Feb. 2004 to Dec. 2005 

Station Manager 

Responsibilities included overseeing the entire operation at St. Petersburg/Clearwater 

Airport for Skyservice airlines, Canadian Charter Airline. Interacting with another 

company performing customer service, ramp and fueling functions and ensuring they are 

trained in accordance with Skyservice standards. Verifying all passengers have proper 

documents for international travel, correct information sent via APIS/APHIS to US and 

Canadian customs and immigrations authorities.

SOUTHEAST AIRLNES, Largo, Fl. Oct.2003 to Nov.2004 

Director of Stations 

Responsibilities included overseeing the operations at seven airports with over 500 

employees and seven Station Managers reporting directly, purchase and distribution of 
aircraft catering, training all personnel at the seven airports. Setting up of new stations, 

negotiating landing rights, ground handling, fueling and training of all personnel at the 

new stations, responsible for all customer service written correspondence and phone calls 

at the headquarters in Largo, Fl., setting up all charter requests including procuring the 

aircraft, stations, fueling and staffing in order for the charter to operate. Company closed 

down December 1, 2004. 

CARIBBEAN SUN AIRLINES, Fort Lauderdale, Fl. Feb.2002 to Oct.2003 

Manager of Commercial Operations Jan. 03 to Oct. 03 

Responsibilities included, programming of company’s computer system (Gabrielle) for 

all Caribbean Sun flights, fares, and schedules, filing fares with various Foreign 

Countries and United States governments. Negotiated with Travel Agents both US and 

foreign for purchase of discounted fares for groups and charters. Also assisted with crew 

scheduling. 

Manager of Ground Services Feb, 02 to Jan, 03 

Part of the team responsible for starting a new airline and obtaining a certificate for a 121 

Schedule Carrier. After receiving certificate responsibilities included, negotiating landing 

rights with foreign counties, ground handlers and fuel companies, obtaining space for 

Caribbean Sun Airlines operations, training of personnel to FAA and Department of 

Transportation rules and requirements. Wrote Station Manual for company that was FAA 

accepted. 

SOUTHEAST AIRLINES. Largo, Fl. Feb.1998 to Feb.2002 

Director of Administration 

Accounting responsibilities included all accounts receivable, payable and payroll. Human 

Resource, background checks on all new employees, verify previous drug and alcohol 

records, obtain all records, NDR check and FAA records check for Pilots. Administer all 

medical, dental benefits, workers compensation and unemployment. Southeast Airlines' 

Anti-Drug and Alcohol Manager responsible for all aspects of this FAA program. Set up 

all aircraft maintenance contracts, fueling contracts and Ground Handling contracts for 

charters.. 

SUN JET INTERNATIONAL, Clearwater, FL Mar.1994 to Feb.1998 

Manager Accounting/Payroll 

Responsibilities included all aspects of Accounts Payable/Receivable; prior 

responsibilities included: Human Resource development and management and Baggage 

Service management; report to all company officers. 

EAGLE AIRLINES, St. Petersburg, Florida Oct.,1993 - Mar,1994 

Customer Service Supervisor 
Responsible for all functions of airport operations including: hiring, training, and 

supervision of employees, coordination of all functions relating to passenger service. 

Produced 100% on time performance and reduced turn around time by over 50%. 

Company filed for bankruptcy March, 1994. 

PLEASANT HAWAIIAN HOLIDAYS, Westlake Village, CA Aug.,1991 - Jun,1993 

Group Airspace Coordinator

Responsible for the purchasing of all group airspace; pricing negotiations; booking of 

hotel accommodations. Proficient with computer systems for Apollo, Datas and 

Hawaiian Airlines. 

 Received Employee of the Month Commendation. 

 Coordinated the entire preparation for 50th Anniversary for approximately 

4,000 members and families of the famous 442nd Regiment; over one year in 

the planning; included: all hotel and airline accommodations, ground 

transportation, banquets, and memorial services. 

EASTERN AIRLINES Aug., 1972 - Jan.,1991 

Almost twenty years broad-based experience with Major Airline Carrier in five large 

metropolitan locations; Positions included: Airport Operations Manager, Airport 

Supervisor, Quality Control Auditor, Baggage Analyst, Reservations Supervisor. 

Company closed from bankruptcy in January, 1991.







Jacob Serfati

Professional Standing: 

CEO and Director for International Business Development of a Sales-Driven Pharmaceutical Products and 

Disposable Medical Supplies Company, with ample trading experience in/to Latin America and Caribbean 

markets. Demonstrated market aggressiveness, entrepreneurial initiative and strong leadership skills capable 

to lead and work with more than 1.400 employees at all levels of the organization 

Management Summary: 

Marketing/Business Management Expertise

Twenty three + years of experience in the Pharmaceutical business field. Strong background in creating and 

implementing successful business results-oriented projects while balancing executive level management with a 

dedicated “hands-on” personality and team-work to reach goals under an ROI base scenario. 

Transformational Business Success 

Develop the Jayor Group of Companies, from a US$500k-small company in 1991 to a trans-national 

enterprise with revenues exceeding the US$140MM per year. 

 

Career Highlights and Major Accomplishments: 

JAYOR GROUP 1991- CURRENT JOB (Miami-FL-USA) 

Director of Jayor Group, a Multi-Country Pharmaceutical Company with operating bases in Venezuela, El 

Salvador and Mexico but with market sales coverage throughout the entire Central America, South America 

and Caribbean Regions. Company specializes in the manufacturing, global sourcing and trading of a complete 

portfolio of Pharmaceutical Products and Medical Supplies for the South-Central America and Caribbean 

markets. 

Since its origin in 1991 the company has experienced a tremendous growth from a US$500K revenue singlemarket company to becoming a US$140MM regional multi-market operation, in 2010. 

Led and executed all procurement/marketing/commercial strategies and programs for the development of 

each domestic market individually, while simultaneously creating the necessary structure and organizational 

set-up to cope with the ambitioned accelerated growth and global trading. 

Moved to Miami in 2000, a strategic hub for Latin America, which helped the pursue and achievement of 

these ambitious business and personal goals. 

PHARMACIA . 1989 – 1991 (Caracas-Venezuela) 

International service manager, for Latin American countries. Responsible for meeting and exceeding annual 

goals, ensuring long-term growth through new businesses acquisitions and of existing product lines through 

strategic planning, execution of marketing, tactical sales & distribution programs maximizing budget resources 

and team effort. 

ABBOT LABORATORIES. 1987-1989+ (Caracas-Venezuela) 

Direct management responsibilities over a very aggressive Company Division. Responsible for managing a 

vertically integrated operation including manufacturing, imports, sales and distribution of pharmaceutical 

products and medical supplies associated with a variety of different businesses areas. Strategic planning and 

coordination of company’s aggressive growth objectives over the two years in the company with exceeding 

results 
Jacob Serfati

Education: 

Universidad Simon Bolivar , Caracas –Venezuela . (1982-–1987). 

 Electronic Engineer; graduated Magna Cum Laude. 
December 31 2011 December 31 2012 June 30 2013

Assets

Current

Cash 13,116 12,829 55,418

Accounts Receivable 44,590 68,397 91,521Other Current Assets 92,019 312,396 272,529

Total Current Assets 149,725 $ 393,622 $ 419,468 $ 

Property and Equipment

Property and Equipment 19,508 - 57,407

Accumulated Depreciation 1,178 1,175 1,177

20,685.06 $ 1,175.00 $ 58,583.85 $ 

Total Assets 170,410 $ 394,797 $ 478,052 $ 

Liabilities

Current Liabilities

Accounts Payable and Accrued Expenses 15,345 $ 209,559 $ 102,981 $ 

Total Current Liabilities 15,345 209,559 102,981

Long Term Liabilities

Notes Payable - $ - $ - $ 

Long Term Liabilities - - -

 Total Liabilities 15,345 $ 209,559 $ 102,981 $ 

Equity

Members Equity 1,072,448 $ 3,475,884 $ 4,740,384 $ 

Members Distributions - - -Retained Earnings (917,384) (3,290,646)Net Income (917,384) (2,373,262) (1,074,668)

Total Equity 155,064 185,238 375,071

Total Liabilities and Equity 170,410 $ 394,797 $ 478,052 $ 

Orange Air 

Exhibit 6a 

(2 pages)
2011 2012 2013 Total

Pre-operating Pre-operating Pre-operating Pre-operating

Expenses Expenses Expenses Expenses

March - December January-December January-June From Inception

Sales

Revenues - $ - $ - $ - $ 

Expenses

Wages and benefits - line staff - $ 159,540 $ 135,591 $ 295,131 $ 

Wages and benefits - administrative 667,337 1,213,945 460,688 2,341,970

Maintenance and Repairs 3,010 353,171 104,182 460,363

Aircraft Leasing and Insurance - - - -

Proving Flights - - - -

Administrative Expenses 188,024 349,461 293,927 831,412

Other Operating Expenses 108,422 368,429 90,474 567,325

Total Operating Expenses 966,793 $ 2,444,546 $ 1,084,862 $ 4,496,201 $ Net Income (Loss) (966,793) $ (2,444,546) $ (1,084,862) $ (4,496,201) $ 

Unaudited
Orange Air 

Exhibit 7a 

(12 pages)











Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14

Sales

Revenues

Expenses

Wages and benefits - line staff 35,148 $ 35,148 $ 53,375 $ 53,375 $ 53,375 $ 53,375 $ 53,375 $ 

Wages and benefits - administrative 90,911 90,911 108,000 108,000 108,000 108,000 108,000

Maintenance and Repairs 54,200 60,000 77,550 77,550 77,550 77,550 77,550

Aircraft Leasing and Insurance 95,000 95,000 95,000 95,000 95,000 95,000

Depreciation and Reserves 60,000 60,000 60,000 60,000 60,000 61,667

Administrative Expenses 82,341 82,000 82,000 82,000 82,000 82,000 82,000

Other Operating Expenses 17,680 30,000 16,400 16,400 16,400 16,400 16,400

Total Operating Expenses 280,281 $ 453,059 $ 492,325 $ 492,325 $ 492,325 $ 492,325 $ 493,992 $ 

Net Income (Loss)

12 Month

Feb-14 Mar-14 Apr-14 May-14 Jun-14 Total

Sales

Revenues

Expenses

Wages and benefits - line staff 53,375 $ 53,375 $ 53,375 $ 53,375 $ 53,375 $ 604,046 $ 

Wages and benefits - administrative 108,000 108,000 108,000 108,000 108,000 1,261,822 $ 

Maintenance and Repairs 77,550 77,550 77,550 77,550 77,550 889,700 $ 

Aircraft Leasing and Insurance 95,000 95,000 95,000 95,000 95,000 1,045,000 $ 

Depreciation and Reserves 61,667 61,667 61,667 61,667 61,667 670,002 $ 

Administrative Expenses 82,000 82,000 82,000 82,000 82,000 984,341 $ 

Other Operating Expenses 16,400 16,400 16,400 16,400 16,400 211,680 $ 

Total Operating Expenses 493,992 $ 493,992 $ 493,992 $ 493,992 $ 493,992 $ 5,666,592 $ 

Net Income (Loss)

Unaudited

Orange Air 

Exhibit 8a 

(3 pages)
Projected Launch Date September-13

Fleet

Type: MD-83s

Proving

Aircraft Run #1 In Service

1 Aug-13 Sep-13 Lease

Charter Revenues

Minimum Monthly Hours, per Aircraft 150

Minimum Annual Hours, per Aircraft 1,800

ACMI Rate per hour

Operating Expenses

Payroll

Crewing per aircraft (2.5 crews) 15

Administrative personnel 10

Salary & wages per employee

Crews

Administrative personnel

Benefits as % of salary and wages

Crews

Administrative personnel

Maintenance

Per block hour (maintenance plus c-check reserves) 517 $ 

Aircraft Leasing

Monthly lease, including insurance $ 95,000

Depreciation and Reserves

Office equipment/computers - 5 year life

Estimated Annual depreciation expense $ 80,000

Funding Available, Orange Air Holdings LLC Line of Credit

Funding Provided by Orange Air Holdings LLC through 6/30/13 4,740,384 

Total funding provided and available $ 4,740,384

Capital Requirements

Preoperating Expenses $ 733,340

Equipment Purchases 100,000

12 Month Operating Expenses 6,218,100 $ 

DOT Reserve Required (25% 12 Month Op Exp) 1,554,525 

Total Capital Requirement $ 2,387,865

Excess funding available $ 2,352,519
August 31, 2014

Assets

Current

Cash 75,000 

Accounts Receivable 5,760,000 

Other Current Assets 300,000 

Total Current Assets 6,135,000 $ 

Property and Equipment

Property and Equipment 57,407 

Accumulated Depreciation 1,177 

$ 58,584

Total Assets 6,193,584 $ 

Liabilities

Current Liabilities

Accounts Payable and Accrued Expenses 5,927,904 $ 

Total Current Liabilities 5,927,904 

Long Term Liabilities

Notes Payable - $ 

Long Term Liabilities - 

 Total Liabilities 5,927,904 $ 

Equity

Members Equity 5,000,000 $ 

Members Distributions

Retained Earnings (4,300,736) 

Net Income (433,584) 

Total Equity 265,680

Total Liabilities and Equity 6,193,584 $