AirChoiceMulti-AeroInc.d/b/aAirChoiceOneProposaltoProvideEssentialAirService·atAlpena,MichiganDocketDOT-CST-2009-0300May15,2012ChoiceSuitePho;Fax:34385271"-'-·..1........en0AirChoiceThroughoutthismulti-stepprocessinteractionwiththecommunityofAlpenahasprovidedtheAirChoiceOneteamwithaconstructiveexchangeofideas,information,andinsight.Keepingallthisinmindwehaveincludedanewapproachinthisroundofproposalsandherebypresenttwonewoptions*alongwithourpreviouslysubmittedoptions*alongwithforyourreview.WeinviteyoutogiveAirChoiceOnea"freshlook"andseriousconsiderationtotheaddedbenefitsourlatestoptionsoffer.HighlightsInclude:•AirChoiceOneisofferinganewaircrafttype!FordetailsseeOptions6**-7**.Weareexcitedaboutthisnewestinnovationandwouldbehappytoansweranyquestionsyoumighthave!•Options1-5remainstrongcontendersandofferflexibleservicealternativestothosetravelingto/fromAlpena!•.Options4-7allfeaturetwinturbopropaircraft!•Discountsfor4YearTerms!*Eachoptionrepresentsaninseparableofferingforthecommunitieshighlightedtherein.**StartDatewillbedependentonfinalcompletionofFAAcertificationmodificationand/orapprovalprocess.AirChoiceAlpena,Michigan-ChicagoO'HareInternationalAirportCessnaGrandCaravan18RoundTripsPerWeekAlpena,Michigan-ChicagoO'HareInternationalAirportCessnaGrandCaravan21RoundTripsPerWeekAlpena,Michigan-Chicago0'InternationalAirportCessnaGrandCaravan24RoundTripsPerWeekAirChoiceAlpena,Michigan-ChicagoO'HareInternationalAirportPiperNavajo18RoundTripsPerWeekAlpena,Michigan-ChicagoO'HareInternationalAirportPiperNavajo24RoundTripsPerWeekAirChoice8Seats16-18Seats'*b,,f;5"'1;0"'8Seatsc;·..•·>\'<:;;:;:4itJetstream16-18Seats21RoundTripsPerWeek**StartDatewillbedependentonfinalcompletionofFAAcertificationmodificationand/orapprovalprocess.AirChoiceAlpena,Michigan-ChicagoO'HareInternationalAirport-CaravanOperationRevenuesAPN-ORDRevenuesOtherRevenuesTotalOperatingRevenuesDirectOperatingExpensesFlyingOperationsFuelandOilMaintenanceAircraftLeasesTotalDirectIndirectTotalOperatingExpensesOperatingLossProfitElement(5%totalOper.Exp.)CompensationRequiredCompensationperPAXCompensationperDeparture$772,2007J22$779,922$348,052869,973664,463420,000$2,302,488567,430$2,921,918$2,141,996146,096$2,288,092$293$1,244#Passengers:7,800AverageFare:$99.00Departures:1,840BlockHours:3,164RevenuePassengerMiles:2,386,800AvailableSeatMiles:4,491,003EstimatedFlightOperationsDepartureArrivalAPN@6:00AMETORD@6:40AMCTORD@8:00AMCTAPN@10:40AMETAPN@12:00PMET.ORD@12:40PMCTORD@2:00PMCTAPN@4:40PMETAPN@5:30PMETORD@6:10PMCTORD@7:00PMCTAPN@9:40PMETAirChoiceAlpena,Michigan-ChicagoO'HareInternationalAirport-CaravanOperationRevenuesAPN-ORDRevenuesOtherRevenuesTotalOperatingRevenuesDirectOperatingExpensesFlyingOperationsFuelandOilMaintenanceAircraftLeasesTotalDirectIndirectTotalOperatingExpensesOperatingLossProfitElement(5%totalOper.Exp.)CompensationRequiredCompensationperPAXCompensationperDeparture$940,50091405$949,905$424,5181,033,795775,2074201000$2,653,5206751610$3,381,130$2A31,2251691057$2,600,282$274$1,212#Passengers:9,500AverageFare:$99.00Departures:2,146BlockHours:3,691RevenuePassengerMiles:2,907,000AvailableSeatMiles:5,239,503EstimatedFlightOperations!-DepartureArrivalIAPN@6:00AMETORD@6:40AMCTORD@8:00AMCTAPN@10:40AMETAPN@12:00PMETORD@12:40PMCT!ORD@2:00PMCTAPN@4:40PMETIAPN@5:30PMETORD@6:10PMCTIORD@7:00PMCTAPN@9:40PMETiAirChoiceAlpena,Michigan-ChicagoO'HareInternationalAirport-CaravanOperationRevenuesAPN-ORDRevenuesOtherRevenuesTotalOperatingRevenuesDirectOperatingExpensesFlyingOperationsFuelandOilMaintenanceAircraftLeasesTotalDirectIndirectTotalOperatingExpensesOperatingLossProfitElement(5%totalOper.Exp.)CompensationRequiredCompensationperPAXCompensationperDeparture$1,039,50010,395$1,049,895$458,6741,146,475833,952420,000$2,859,101747,826$3,658,927$2,609,032182,946$2,791,978$266$1,138#Passengers:AverageFare:Departures:BlockHours:RevenuePassengerMiles:10,500$99.002,4534,1703,213,000AvailableSeatMiles:5,988,004EstimatedFlightOperationsDepartureArrivalAPN@5:00AMETORD@5:40AMCTORD@6:30AMCTAPN@9:10AMETAPN@9:30AMETORD@10:10AMCTORD@10:40AMCTAPN@1:20PMETAPN@2:00PMETORD@2:40PMCTORD@3:10PMCTAPN@5:50PMETAPN@6:20PMETORD@7:00PMCTORD@7:30PMCTAPN@10:10PMET-AirChoiceAlpena,Michigan-ChicagoO'HareInternationalAirport-NavajoOperationRevenuesAPN-ORDRevenuesOtherRevenuesTotalOperatingRevenuesDirectOperatingExpensesFlyingOperationsFuelandOilMaintenanceAircraftLeasesTotalDirectIndirectTotalOperatingExpensesOperatingLossProfitElement(5%totalOper.Exp.)CompensationRequiredCompensationperPAXCompensationperDeparture$772,2007J22$779,922$300,591869,973632,822325,000$2,128,386569,380$2,749,766$1,969,844137.488$2,107,332$270$1,145#Passengers:7,800AverageFare:$99.00Departures:1,840BlockHours:3,164RevenuePassengerMiles:2,386,800AvailableSeatMiles:3,929,628-EstimatedFlightOperationsDepartureArrivalAPN@6:00AMETORO@6:40AMCTORO@8:00AMCTAPN@10:40AMETAPN@12:00PMETORO@12:40PMCTORO@2:00PMCTAPN@4:40PMETAPN@5:30PMETORO@6:10PMCTORO@7:00PMCTAPN@9:40PMETAirChoiceAlpena,Michigan-ChicagoO'HareInternationalAirport-NavajoOperationRevenuesAPN-ORDRevenuesOtherRevenuesTotalOperatingRevenuesDirectOperatingExpensesFlyingOperationsFuelandOilMaintenanceAircraftLeasesTotalDirectIndirectTotalOperatingExpensesOperatingLossProfitElement(5%totalOper.Exp.)CompensationRequiredCompensationperPAXCompensationperDeparture$841,5008A15$849,915$400J881,159,963696,105325,000$2,581,856755,090$3,388,946$2,539,031169,447$2,708,478$319$1,104#Passengers:8,500AverageFare:$99.00Departures:2A53BlockHours:4,219RevenuePassengerMiles:2,601,000AvailableSeatMiles:5,239,503EstimatedFlightOperationsDepartureArrival.APN@5:00AMETORD@5:40AMCTORD@6:30AMCTAPN@9:10AMETAPN@9:30AMETORD@10:10AMCTORD@10:40AMCTAPN@1:20PMETAPN@2:00PMETORD@2:40PMCTORD@3:10PMCTAPN@5:50PMETAPN@6:20PMETORD@7:00PMCTORD@7:30PMCTAPN@10:10PMETAirChoiceAlpena,Michigan-ChicagoO'HareInternationalAirport-JetstreamOperationRevenuesAPN-ORDRevenuesOtherRevenuesTotalOperatingRevenuesDirectOperatingExpensesFlyingOperationsFuelandOilMaintenanceAircraftLeasesTotalDirectIndirectTotalOperatingExpensesOperatingLossProfitElement(5%totalOper.Exp.)CompensationRequiredCompensationperPAXCompensationperDeparture$1,309,50013,095$401,7681,345,2081,004,422425,000$3,176,398848,110$4,076,508$2,753,913203,825$2,957,738$305$1,600#Passengers:AverageFare:Departures:BlockHours:RevenuePassengerMiles:9,700$135.001,8402,3912,968,2004,491,003AvailableSeatMiles:EstimatedFlightOperationsDepartureArrivalAPN@6:30AMETORO@6:50AMCTORO@8:00AMCTAPN@10:20AMETAPN@12:00PMETORO@12:20PMCTORO@2:00PMCTAPN@4:20PMETAPN@5:30PMETORO@5:50PMCTORO@7:00PMCTAPN@9:20PMETAirChoiceAlpena,Michigan-ChicagoO'HareInternationalAirport-JetstreamOperationRevenuesAPN-ORDRevenuesOtherRevenuesTotalOperatingRevenuesDirectOperatingExpensesFlyingOperationsFuelandOilMaintenanceAircraftLeasesTotalDirectIndirectTotalOperatingExpensesOperatingLossProfitElement{5%totalOper.Exp.)CompensationRequiredCompensationperPAXCompensationperDeparture$1,687,50016,875$1,704,375$468J301,555A591,046,273425,000$3A95,462886,765$4.434,227$2,729,852221,711$2,951,563$236$1,375#Passengers:AverageFare:Departures:BlockHours:RevenuePassengerMiles:12,500$135.002,1462,7903,825,0005,239,503AvailableSeatMiles:EstimatedFlightOperationsDepartureArrivalAPN@6:30AMETORO@6:50AMCTORO@8:00AMCTAPN@10:20AMETAPN@12:00PMETORO@12:20PMCTORO@2:00PMCTAPN@4:20PMETAPN@5:30PMETORO@5:50PMCTORO@7:00PMCTAPN@9:20PMEThAirChoiceEstablishedHub-ChicagoO'HareSuccessfulPricingStrategyCommunitySupport&Involvement'ProvenReliability102°./oSuccessfulMarketingCampaignsServicethatCaterstoCommunityandBusinessNeedst•II