### BEFORE THE DEPARTMENT OF TRANSPORTATION OFFICE OF THE SECRETARY WASHINGTON, 

### D.C.

Application of Docket DOT-OST-2013- CARGO THREE, INC. D/B/A PANAIR CARGO For aforeign air carrier permit pursuant to 49 U.S.c.941301 and exemption authority pursuant to 49 U.S.c. 940109 (U.s.-PANAMA)



### APPLICATION OF CARGO THREE, INCDBA PANAIR CARGO FOR A FOREIGN AIR CARRIER PERMIT AND EXEMPTION AUTHORITY
Communications with respect to this document should be sent to: Daniel Baquerizo Vice President-JATI Antonio J. Fernandez CEO/Manager of ACcounts-- CARGOTHREE, INC. D/B/A PANAIR CARGO IATI Consulting 8600 N.W. 17 Street, Suite 110 Miami, FL.33126 Phone 305-599-2195 Fax 305-599-2992 dbaquerizo@iai-aviation.com IATI Agent for CARGOTHREE, INC. D/B/A PANAIR CARGO ANTONIO J. FERNANDEZ ajfernandez@panaircargo.com President

June 26, 2013 Notice: Any person who wishes to support or oppose this application may file an answer and serve that answer on above-named counsel and all persons served with the application. Answers to the exemption application are due by Jul 09, 2013, and answers to the permit application are due by JullS, 2013. 1

### BEFORETHE DEPARTMENT OF TRANSPORTATION

WASHINGTON, 

## D.C. Application of CARGO THREE, INC. D/B/A PANAIR CARGO For aforeign air carrier permit pursuant to 49 U.S.c. 9 41301 and exemption authority pursuant to 49 U.S.c. 9 40109 (U.S.-PANAMA) Docket DOT-OST-2013-



### APPLICATION OF CARGO THREE, INC DBA PANAIR CARGO FOREIGN AIR CARRIER PERMIT AND EXEMPTION AUTHORITY 

### Pursuant to 49 U.S.c. 941302 and Part 211 of the Economic Regulations of the Department of Transportation, CARGOTHREE,INC. D/B/A PANAIR 

### CARGO hereby applies for aforeign air carrier permit to operate charter air transportation of property between the between any point or points in the Republic of Panama and any point or points in the United States; and between any point or points in the United States and any point or points in athird country or countries, whether or not it constitutes part of acontinuous operation that includes service to Panama. PANAIRCARGO further requests exemption authority under 49 U.S.c.g 40109 to the extent necessary to enable it to provide the services described above pending issuance of aforeign air carrier permit and such additional or other relief asthe Department may deem necessary or appropriate. PANAIRCARGOrequests that the authority described above be issued expeditiously and that the Department process this application pursuant to the streamlined regulatory procedures for licensing U.S.and foreign air carriers set forth in the Notice dated August 23, 2005 (Docket OST-2005-22228), and issue asingle order 

## (l) granting the requested 2

### exemption authority for atwo-year period or until the requested permit

authority becomes effective, whichever occurs first, and (2) approving the corresponding foreign air carrier permit under the show-cause procedures described in the August 23, 2005 Notice.1ln support of this application and pursuant to 9 211.20 the Department's regulations, PANAIRCARGO states as follows:

1. The full name and address of the applicant is: PANAIRCARGO CARGOTHREE,INC- HEADOFFICE METROBANK, Calle Isaac Hanono Missri. Punta Pacifica. PISO9. OFIC9-C Tel. +507203.1430 Mobile +5076489.8480 PANAMA The applicant isa limited liability company incorporated and existing under the laws of Panama, Republic of Panama

3

### 2. The name and official address of the government air transport authority in

the Panama, Republic of Panama having regulatory jurisdiction over PANAIRCARGOis: REPUBLICOFPANAMA CIVILAERONAUTICALAUTHORITY Address: Administrative offices Albrook Edificio 805 - Panama Republic of Panama

3. Air transport between the Panama, Republic of Panama and the United States isgoverned bythe Air Transport Agreement Between the Government of the United States and the Government of Panama, Republic of Panama, signed on May 08,1997. PANAIRCARGOseeks authority under Annex II of that agreement to operate charter all-cargo service. 4. The names, addresses and citizenship of PANAIR CARGOofficers and Key management personnel are set forth in Exhibit PA-02. PANAIRCARGO does not have a board of directors. None of PANAIRCARGOkey management personnel are related by blood or marriage.

4

### 5. PANAIRCARGOisfifty-one (51) percent owned by Mrs. Blanca Vasquez,

President of PANAIR CARGOand acitizen of Panama, Republic of Panama To the extent necessary and consistent with Department policy, PANAIR CARGOrequests DOTwaive its ownership and control policy. Given that PAN AIRCARGOisentirely owned and controlled by citizens of Panama, the ownership of PANAIRCARGOis not inimical to U.S. aviation policy. 6. PANAIR CARGOneither receives nor expects to receive any financial assistance from the Panamanian government. PANAIRCARGO,its officers, directors, managers, and holders of five percent or more of its stock do not hold any interest in any U.S.carrier or other entity engaged in the business of aeronautics.
7. CARGOTHREE,INC. D/B/A PANAIRCARGOwas created in December 27 1990 and PanAir Cargo initially plans to conduct non- scheduled cargo service between the United States and the Republic of Panama using a Panamanianregistered B727-200 freighter aircraft. PanAir Cargo proposes to commence operating twice weekly roundtrip flights between Panama-Miami focused on developing its charter business. Today, PANAIRCARGOis planning to grow its charter operations in Latin America, and worldwide. To that end, PANAIR CARGOisseeking Department authority in order to provide much-demanded all-cargo serve to the USA, initially on acharter basis.

5

### 8. PANAIRCARGOcurrently operates one aircraft listed below; the B727-225

aircraft will be used for service to the USA.All aircraft are configured for all cargo operations. PANAIRCARGOhas no immediate plans to acquire additional aircraft in connection with the authority requested herein.
Aircraft Type B727-225-F Registration Number Country of Registration

HP-1754CTW Panama, Rep. of Panama
9. Maintenance on all present and future PANAIRCARGOaircraft is (or will be) performed by PANAIRCARGOMaintenance department for Engineering or other appropriately licensed maintenance providers. PANAIR CARGO maintenance program complies with ICAOPilots and Airmen Annexes 1, 6 (Part 1) and 7. PANAMA isacontracting state to the Convention on International Civil Aviation. PANAIRCARGOhomeland authority, Le. it's Commercial License, Air Operator Certificate (AOe) and Operations Specifications, are attached as Exhibit PA-01.3

10. At present, PANAIRCARGOdoes not have any code-share agreements or other cooperative agreements with any U.S.carriers, non-U.S. carriers, or air freight forwarders/consolidators, except for interline agreements with KLM/Air France but neither agreement will affect the proposed service to the USA.

6

### 11. PANAIRCARGOmeets the Department's requirements for foreign air

Carrier insurance. Attached as Exhibit PA-03 isOSTForm 6411 evidencing PANAIR CARGOinsurance coverage. 12. Attached as Exhibit PA-04 isacopy of PANAIRCARGOisa new start-up . carrier with no operating history, the amount and source of its initial capitalization. This Exhibit is being submitted with a motion for confidential treatment pursuant to Rule 12 of the Department's rules of practice.3 Consistent with current Panamanian procedures, PanAir Cargo Commercial License isvalid Through January 02,20161, and PanAir CargoAOC isvalidity should remain in force as long asThe Operator complies with the Panama Civil Aviation Lawsand Regulations concerning the Specific Operations.6
13. Attached as Exhibit PA-05 isacopy of PANAIRCARGOtraffic and financial forecast for the first full year of normal operations to and from the United States. These forecasts are being submitted with a motion for confidential treatment pursuant to Rule 12 of the Department's rules of practice.
14. PANAIRCARGOhas experienced no safety or tariff violations or fatal accidents in the past five years.
15. PANAIR CARGOwill submit acopy of its Aviation Disaster Family Assistance Plan in Docket DOT-OST-98-3304, pursuant to 49 U.S.c. 941313.

7

### 16. Attached as Exhibit PA-06 isOSTForm 4523, a partial waiver of the

liability limitations of the Warsaw Convention.
17. The verification required by Part 211.11 of the Department's regulations is attached as Exhibit PA-07.
18. PANAIRCARGOisfit, willing and able to provide the charter Service embraced by this Application. The authority requested herein isencompassed by and consistent with the U.S.- Panama Air Transport Agreement. Annex II of the U.S. Panama Transport Agreement States;
ANNEX II Charter Air Transportation Section 1 Airlines of each Party designated under this Annex shall, in accordance with the terms of their designation, have' the right to carry international charter traffic of passengers (and their accompanying baggage) and/or cargo (including, but not limited to, freight forwarder, split, and combination (passenger/cargo) charters) :Between any point or points in the territory of the Party that hasdesignated the airline and any point or points in the territory of the other Party; and Between any point or points in the territory of the other Party and any point or points in athird country or countries, provided that such service constitutes part of acontinuous operation, with the exception of cargo charters, with or without achange of aircraft, that includes service to the homeland for the purpose of carrying local traffic between the homeland and the territory of the other Party. In the performance of services covered bythis Annex, airlines of each Party designated under this Annex shall also have the right: (1) to make stopovers at 8

### any points whether within or outside of the territory of either Party; (2) to

carry transit traffic through the other Party's territory; (3) to combine on the same aircraft traffic originating in one Party's territory, traffic originating in the other Party's territory, and traffic originating in third countries; and (4) to perform international air transportation without any limitation asto change, at any point on the route, in type or number of aircraft operated; provided that, in the outbound direction, the transportation beyond such point isa continuation of the transportation from the territory of the Party that has designated the airline and in the inbound direction, the transportation to the territory of the Party that has designated the airline isacontinuation of the transportation from beyond such point .Each Party shall extend favorable consideration to applications by airlines of the other Party to carry traffic not covered by this Annex on the basis of comity and reciprocity.

Section 2 Any airline designated by either Party performing international charter air transportation originating in the territory of either Party, whether on aoneway or round-trip basis, shall have the option of complying with the charter laws, regulations, and - 2 rules either of its homeland or of the other Party .If a Party applies different rules, regulations, terms, conditions, or limitations to one or more of its airlines, or to airlines of different countries, each designated airline shall be subject to the least restrictive of such criteria. However, nothing contained in the above paragraph shall limit the rights of either Party to require airlines designated under this Annex byeither Party to adhere to requirements relating to the protection of passenger funds and passenger cancellation and refund rights.

9

### Section 3


# ,

Except with respect to the consumer protection rules referred to in the preceding paragraph above, neither Party shall require an airline designated under this Annex bythe other Party, in respect of the carriage of traffic from the territory of that other Party or of athird country on aone-way or roundtrip basis, to submit more than adeclaration of conformity with the applicable laws, regulations and rules referred to under section 2 of this Annex or of a waiver of these laws, regulations, or rules granted bythe applicable aeronautical authorities

10

### WHEREFOREPANAIRCARGOsubmits that grant of this application

would be consistent with the public interest, and request that the Department grant foreign air carrier permit authority under 49 U.S.c. 941302 and exemption authority under 49 49 U.S.c. 940109 to enable PANAIRCARGOto engage in charter all-cargo service to the Full extent authorized byAnnex II of the U.S. Panama Air Transport Agreement asset forth herein.

Respectfully submitted

IATIAgent for CARGOTHREE,INC. D/B/A PANAIRCARGO 

# f.~ 

# j{
Antonio 

## J. Fernandez CEO--CARGOTHREE,INC. D/B/A PANAIRCARGO

11

### CERTIFICATE OF SERVICE

I certify on this 26th day of June, 2013 acopy of the foregoing Application for a Foreign Air Carrier Permit and Exemption Authority has been served by electronic mail on the parties named below.

Daniel Baquerizo Carl Nelson (American) Dan Weiss (United/Continental) Steve Morissey (United/Continental) Sametta C. Barnett (Delta) Bailey Leopard (FedEx) Nancy Sparks (FedEx) Edward Sauer (Evergreen) Mark Atwood (Kalitta) carl.nelson@aa.com dan.weiss@united.com steve. morissey@united.com sametta. barnett@delta.com gbleopard@fedex.com nssparks@fedex.com esauer@ssd.com matwood@sherblackwell.com Kevin Montgomery (Polar) Kevin.montgomery@polaraircargo.com David Vaughan (UPS) dvaughan@kelledrye.com Howard Kass(USAirways) howard.kass@usairways.com NACA pdoell@naca.cc U.S.State Department uskr@state.gov John Allen (FAA) john.allen@faa.gov John Byerly (State Department) byerlyjr@state.gov Robert Finamore (DOT) RobertJinamore@dot.gov Brett Bruger (DOT) brett.bruger@dot.gov
12

### EXHIBIT PA 01
COMMMERCIAL LICENSE

AIR OPERATOR CERTIFICATE

OPERATIONS SPECIFICATIONS

13FECHA DE EXPEDICION: 03 deenerode2013 FECHA DE VENCIMIENTO: 02deenerode 2016 No. 12S-N-AAC

! I.Ul.: '~.:r',';'.C.J:,i::H":!\d.~.JTlCACIVIL • Si::Cr..E.TA'~;1"\ ~.:NERAL EI suscrito Secretario General de laAutoridad Aeronautica Civil, hace constar.que e.tpreseme docume aestiel copia d~suonglnal.



## CERTIFICADO DE EXPLOTACION DE SERVICIOS.i,»)<;AERONA\%GACION COMERCIAL 

# , f 

## EL DIRECTOR GENERAL EN

# usa DE SUS FACUL TADES LEGALES



## RE'S UEL VE:

AUTORlZAR A LA EMPRESA CARGO THREE, INC. 

### Para ofrecer scrvicios de Transpor:te Allreo Publico No Regular' Nacional c

.Intcrnacional de:Carga Exelusiva dcacuerdoalascondicionesy 

### limitacionesqueseSTATEOFFLORIDA COUNTYOFMIAMI.DADE Onthis2'" dayApril 2013, Iattestthisdocum!/.lllIll\~IHH/(~ copy,that Ihaveexamined,

.•• ~~ t'",o'VAr:J..PJ.Q "', ~~v' ••••••••

is' ~ 

### .'
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# ,~,'..:-- ~~ J~;.. ~:~ ~~c....o -~ ~9i26\4 

# i~f PATRICIO R.VALLEJOS ~ •• ~~~~ , NOTARYPUBLICSTATEOF FLORIDA"'~~:U8iic:Sii.~\*<" ID No, 

### 1133358/ CommissionDD

### 982614 

# ''''''''"1111' Yo JAIME EDUARDO G'JILl~N ANGUIZl:)I:A:-.NQt;l(IO Publico C~artodel Circuito de t-dnama, CGn:~"dula'~No
.. ~~:3.S9-37S /",' ::

### ",.,
.~

. - ~-

# ._~.~,.' CERTIFIeO:,' '."- Que he cotejado dct'l,ida ym;n'~ciosamente.P.stacapia fotosMtlca con su OriglflCli 'f la he enco~d1 ~"" 

# me.:-: •

panarr,tj

JAIME EDUARDO GUllU N NGUIZOLA

Notario Publico Cuarto



### :L.rOA.DB PAN"A 

### JIICAi C1UO DE RELACiONES EXTERIOIlR'; 

## .A..P08TTTiLE (Convention de

### t.Hayedu 5 oetubre 1961) , 1. EnPanami eIpresentedocumcnto publico 2, H.sidofumadupor: JATDrE E GUXI.x.EN.lL 3, Quien.ebia en ealid.d de: NOTARIO 4, Yestlrevestido del sella/timbredc: NOTARIA PUBLICA CVARTA DEL CIRCUITO DE PANAMA certif:lcado 5, En cJMinistoriode RelaeionesExteriores 6,Etdla: 04/02/2013 7, Por: DEPARTAMENTO DE AUTENTICACI6N Y LEGAUZACI6N 8. BajaelD1i.mero 9, Sello/ timbre: 31-0 / #Ree.: 465845 DT

## , , 

# REPUBLICA DEPANAMA 

# AUTORIDAD AERONAuTICA CIVIL DIRECCI6N DE SEGURIDAD AEREA • 

# CERTIFICADO DE OPERACION

CARGO THREE,INC N° AAC/EXI/005

Can Base Principal de Operaeiones en el Aeropuerto Internacional de Tocumen,Terminal de Carga,Edificio Principal, Planta Baja, Local COOS. Nombre Comereiaf 

## PANAIR CARGO TelMono 

### 203-1430 Direeei6n Punta Pacifica, Torre Metrobank, Piso 

### 9, Ofieina 9C. Mail Ha eumplido satisfaetoriamente can todas las Jeyes, regulaeiones, requisitos 

### ypruebas exigidas par la Direeei6n de Seguridad Aerea, para operar 

### y eondueir la aetividad de: 

## BRINDAR SERVICIOS DE TRANSPORTEAEREO PUBLICO NO REGULAR

INTERNACIONAL DE CARGA EXCLUSIVA. De aeuerdo 

### a sus Espeeifieaeiones de Operaeipnes debidamente aprobadas. Esta
. Cf!/1ificaci. ." 

### VI 

### \ IMiORIO"') AERO/>!IMJJ' 

## e( eg

## a SECI':ETARiA 

## GE~ A
. 

### \ criloSecrets:'o 

### '-:ienerafcf!.chatdeae ;l~r~~~utica

Civil, ha~';~



### :;o~star quee.'

# ~~:rnte \ documento esfiel co I.desuong • ••. I L1C.A6 EL MARTINEZ' 

### a ael Barcenas C. "Ill 

### I $. ~(/



## QI

# ~I;::.'' Director General

------ ~ . ~. e contacto operacionales: Dlreccl6n de Seguridad A~rea. Tel.: (507) 501.9508, Fax: (507) 501-9317. mail: di eumpla can las

.~'., ';,0. .:: .:~.:, 

### ..::~

## REPUBLICOF PANAMA 

# CIVIL AERONAUTICAL AUTHORITY FLYING SAFETY DIRECTORATE 

# OPERATION CERTIFICATE CARGO THREE, INC N° AAC/EXIIOOS

7thits main base of opereliC!ns In the Aeropuerto Intemaclonal de Tocumen,Terminal de Carga,Edificio Principal, Planta Baja. Local COOS. i81Name 

### PAN AIR CARGO Telephone 203-1430



# --------- Punta Pacifica, Torre Metrobank, Piso 9. Oficina 9C. E-mail 

### • has complied satisfactorily with af! Laws, Regulations, Requisites and Tesls required by the Flying Safety Directorate, in order to operate and carry out the activity of 

### PUBLIC AIR TRANSPORT SERVICE NOTREGULAR EXCLUSIVE

INTERNA TlONAL CARGO =.'
.~ A~g:"lZ.Ola.

Notam Publico r'. ''B, co..,chd"i~ No. 8-359.315 In accordance with lis duly approved Operalions Specifications. '.FlC:",;
.



### APOS'X'IIJ;B (ConvcntiCln de laHaye du 5 ocbJhre 1961 ) 1. EnPanama

e1 presente d~ento pliblico 2. Ha sida firmado pot: 3. Quien actUaen calidad de : JAXMlEl: E GUILLEN' .A.. NOTARIO On this 2" day Apn12013. Iattest this document onginal copy, that Ihave examined.

4. Y~b\ ~stido delsello/timbr-e de: NOTARIAPOBLICACUARTA DEL CIRCUITO DE PANAMA oeru.ft.cado 5. En d Ministc:rio de Relaciones F..rteriorcs 6. E1dia: 04/0212013 7. Po" DEPARTAMENTO DE AUTENTICACI6N Y LEGALIZACI6N I. B;joelmlrncro 32-0 /# Ree.' 465845 DT PATRICIOR. VALLEJOS NOTARY PUBLIC STATE OF FLORIDA ID No. 1133358/ Commission DD 982614

). Sella I timbre:



# ~~=-. 10. '0

,., I ~Q ••- ••••• ,J; 

# -~

# REPUBLICA DE PANAMA AUTORIDAD AERONAuTICA CIVIL Direccl6n de Seguridad Aerea 

# ESPECIFICACIONES DE lAS OPERACIONES
INFORMACI6N DE CONTAcTO DE LA AUTORIDAD EXPEDIDORA



### . '

## .., Direeei6n de Seguridld Aerea. Tel.: (507) 501-9508, Fax: (507) 501-9317, mail: direeeion..oeneral@aeronautica.gob.pa N° Certlficado de operaci6n 

### AAC/EXI/OOS Feeha de expediei6n 

### Julio 30, 2012

PAN AIR CARGO Nombre del Operador I Explolador Nombre Comercial 

### CARGO THREE, INC FirmaAAC expedidora

Modelo de aeronave 

### B727-200 Vuelos a larga distaneia (ETOPS) 

### N/A Tipos de operaciones Transporte aerea comercial lPasajeros lCarga 

## X Jarga Exelusiva
Area de operaelones 

### Norte, Centro y 

### Sur America e Islas del Caribe

Limitaciones especiale 

### N/A

COMENTARIOS

. ; 

# . APROBACIONES ESPECfFICAS



# , " NO 

## si

~ ... ,. ,

## .. AUTORIZACIONES ESPECIALES Mercanc!as peligrosas"' • : 

## X"' • l ",



# . .. X

~ I r t' 

### . '.- ~Dpemci6neS con 

### baja . ~.:.~,'
.. ,'. ". ~visibllidad •

Aproximaci6n y aterrizaje 

### ,



## X .' CAT • :1" "' 550 m



### I 

# I RVR~800It l I

" DH

# I 200 It 

### i

Tiempo maximo de desviaci6n minutos



## GNSS, DME/DME/IRU Despegue RVSM EDTO Especificaeiones de navegaci6n para las operaciones PBN Aeronavegabilidad continuada Otros 

## X



## X 

# x X 

# X 

# x ; RVR, 1600FT 488M 

# y., MN 0 como este publicado

AACIOPSI0359

### REPUBLIC OF PANAMA CIVIL AERONAUTIC AUTHORITY FLIGHT STANDARDS DIRECTORATE OPERATIONS SPECIFICATIONS (subject to the approved conditions in the operations manual) 

### ISSUING AUTHORITY CONTACT DETAILS Flight Slandards Directorate, Phone.: (507) 501.9508, Fax: (507) 501.9317, E. mall: direcclon-lleneral@aeronautica.gob.pa AOC N° Operator name
Commercial Name Aicraft model 

### AACIEXI/OOS

CARGO THREE, INC. Date of issue Signature AAC 

### PAN AIR CARGO B727-200 Julio 30, 2012

Types of operation Commercial air transportation Passangers argo 

## X Exclusive Cargo
Area (s) of operation 

### North, Center, South America and Caribbean. Islands
Special limitalion 

### N/A
SPECIAl AUTHORIZATION YES NO SPECIFIC APPROBAVALS REMARKS Dangerous goods 

### X Lowvisibility operation 

### X Approach and landing 

### X C Take. off 

### X RVSM 

### X 

# - c..........o EDTO 

### X Maximum diversion time: minutes Navigation specifications for 

### X PBN operations Continuing airworthiness 

### X

,

### .•.••...

### -. 

## . ...:- Other: 

### X GNSS, DMEIDMElIRU

AAC/OPS/0359REPUBLICADE PANAM AUTORIDADAERONAuTICACIVIL DIRECCIONDESEGURIDADAEREA ESPECIFICACIONESDEOPERACIONES Parte. Pagina. 

# I Revision: Fecha. 078

ide 3 

# O' 30.Jul.'2 pAGINA DEAUTORIZACiON CARGO THREE, INC. (PANAIR) .'

PARTED 

## 018. Autorizaci6n de 

## Contrato para Mantenimiento:Especifico. CARGO THREE, INC. (PANAIR), esla autorizada para usar las disposiclones de mantemmlenlo Iislados en la siguiente labia. EI manlenimienlo estara limiiad a aquellas funciones Iisladas par el conlralisla en el parrafo F. 

# I FECHA DEL 

### i MARCA, MODELO.YTiViji:RCA,"""MODELO Y. CONTRATISTA I MATRICULA DE LA 1 SERlE DE LOS CONTRATO AERONAVE MOTORES 

### , : 

### , I P&W JT8D.1S 

## , , AM.TECH 

# , , I SIN 1: 700619 

# I ENGINEERING. INC. On Call I FIola B727.200 SIN 2:657698 

# J PANAMA 

# I I SIN3: 688643 I 

## , 

# -_._----, 

# I I 

# ! P&W JT8D.1S I ABA-USA SIN 1: 700619 I 

## I On Call Flota 8727-200 I 

# I SIN 2:657698 I SIN3. 688643 

# , , P&W JT8D.15 , I COOPESA 

# , SIN 1: 700619 On Call Fiola 8727-200 SIN 2'657698 I CONDOR I SIN3: 688643

..

# - , 

# --~-~ i MIAMI NDT I P&W JT8D-1S I On Call ~,ota 8727.200 SIN 1: 700619 SIN 2:657698 

### , 

# I AERO RADIO : 

# I SIN 3: 688643 I 

### --t~-- 

# I I 

### , P&W JT8D.1S 

### ,

AERO On Call 

# I Flota 8727.200 

## I SIN 1:7,00619 ESTRUCTURAS I SIN2:657698 i SIN3' 688643 

# - _0_..._0'.


## - -,

Inspector PrinCIpal de Monrenlmlento (rPM} !()SpaCiO" "mIG/pal de Operaoones (IPOi 

# cffJjrma

Firma 

# • capt. Manuel Rodriguez Nombre St. Carlos Guerra Nombre 1. Emrtido pot laAutoridad AeronautlCa Civil de Panama. 2. Estas Especificaciones de Operaciones estan aprobadas por la Dlrecc/()O de Segundad Aerea



# L/~~

3. Fecha de Aprobaci6n: 4. Mediante fa presente acepto y recibo las Especificaclones de OperaClOncs C(jiltentdas en este documento en nombre de: CARGO THREE, INC. Capt. Roberto Ramirez Nombre Sr. Everardo Garrido Nombre 

### ~ Firm. J 

# .:g // 

# ~.ti ; Firma /

~e MBnjemnllento. Cer'llficadO No
.. AA C/EXIIOOS 

# ------------------_._---- 

# _. --.'

# --_._-------------

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 5th 

### day April 2013. Iattest this document is aoriginal copy, that Ihave examined
.



# •

# r REPUBLICADE PANAMA --"-,- , Pane: AUTORIDADAERONAuTICACIVIL Pagina: DIRECCIONDESEGURIDADAEREI', Revision: ESPECIFICACIONES

DEOPERACIONE2.. 

### 1 Fecha: pAGINA DEAUTORIZACI6N CARGO THREE, Inc, PARTED 071 1 de 2 04 30-Jul-12

Tabla de Contenido Parte D- Disposiciones Generales. Cualquiera que sea el tipo de operaci6n que naya de realizar CARGO THREE, INC. (PANAIR) la aeronavegabilidad continuada y las Iimitaciones del Programa de Mantenimiento que se describen y especifican en estas Especificaciones de Operaciones, seran aplicables a todas las aeronaves de CARGO THREE.lNC
. Iistadas y autorizadas para su uso en la Parte A, De acuerdo a las disposiciones de la AAC el Programa de Manrenimiento aprobado es de cumplimiento obligalorio. CARGO THREE, INC (PANAIR) establecera en su Manual General de Mantenimiento aprobado. un Programa de Mantenimiento amplio y detallado necesario para el cumpllmiento de su responsabilidad a fin de mantener la aerOnave en condiciones de Aeronavegabilidad de acuerdo con las disposiciones aplicables del RACP y las normas prescritas yaprobadas por laAAC. La aeronave y sus partes componentes. accesorios y aparatos se mantendran en condiciones de Aeronavegabilidad de acuerdo con los Ilmites de liempo maximos establecidos en este documento para el cumplimiento de las revislones overhaul. inspecciones peri6dicas 

### y comprobaciones de rulina de laaeronave yde sus partes componentes. accesorios y aparatos. los componentes 'On Condition" y "Hard Time" se mantendran en condlci6n de Aeronavegabilidad continua mediante inspecciones peri6dicas y/o progresivas, verificaciones, servicios, reparaci6n 

### y/o manlenimiento preventivo ydebera estar apropiadamente descrito en ef Programa de Mantenimienlo aprobado de CARGO THREE, INC. (PANAIR).
. Las partes 0 sub-componentes no listados se comprobaran, inspeccionaran y/o reVisaran con las mismas Iimltaclones de tiempo especlficadas para el componenle 0 accesono con el que se relacionen lales partes 0 sub-componentes 0 en el perfodo de tiempo Indicado en el Programa de Mantenimlento aprobado.

Inspector PriflCl,osf de Msntemmienfo (IPM) fnspecw( Principal de Operaciones (lPO) Cspt. Manuel ROdrigUeZ Nombre Sr. Carlos Guert8 Nombre Em~jdopar laAutoridad AerontuJtica CIvil de Panamil. Estas Especificaciones de Operaciones estan aprobadas per la Oirecci6n de Seguridad Ae:ea



### ~ 

# a;aa

-------- Firma 1. 2.

3. 4. Fecha de Aprobaci6n: Mediante Is presente acepto y(ecibo las Especlflcaclones.de Qperacior.es conter'l1dasen este documento en nombre de' CARGO THREE. INC. Capt. Roberto Ramirez Nombre Sr. Everardo Garrido Nombre Firma r

__ -..--"~;eme de O..2f;!raclones
Jere de Maoreolfnreato Cert1fu:ado No.. AACIEXIICC5

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE

,

## l On this 5~. day April 2013. Iattest this document isaoriginai copy, that Ihave examined.

- ~",1I111t1l1l1l111 

### ~", ,,\JALL€l1" 

# 'II,
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# 2"

_ ~c.:::...-o PATRICIO R. VALLEJOS NOTARY PUBLIC STATE OF FLORIDA -ID No. 1133358" Commission DD 982614

### EXHIBIT PA 02

KEY MANAGEMENT PERSONNEL

14OCfJ 0-< 

## c» z-< 

## :;!~ -n

CD 

## -a"
. Vi' , m. o 

# ". <0 5. !!!. 

## 8 

## ."

. ~
~ !li -;::r



### ~

~ 3 5.



### ~ 

# **PanAir

Cargo

•None ofthe above mentioned persons are related to one another bVblood ormarrIage. Key Management Personnel W-n n Name Position Otlzenshlp BusIness Address E.mall 

### ~~ ,u. Shar901der QLNClf OOC» 

## ~ »~ -Or Mrs. BlancaVc1squez President Panama Torre Metrobank. Punta Pacifica.Panama blanca@panaf~C/) r Ytlll51% ;;:: 0 

### :S-t~ 

## '" 6» Mr.Antonio Fern~ndel ChIefExecutiveOfficerIManager ofAccounts Venezuela TorreMetrobank, Punta Paclflca,Panama a!fernandel@p.g~~om 

### ,gO 

## <5 ~.O m



## - CaptaIn Roberto Ramirez DIrectorofOperations andTraining Panama TorreMetrobank. Punta Pacifica,Panama rramirez@pana~rM.com 

### riD' O~ 

### ~ Mr.JavierParra DirectorofMaintenance ColombIa Torre Metrobank, Punta Pacifica,Panama IParra@panalrCfJ8~m 

## rtJ't 

## ~» 0. Captain Isauro Carrizo DIrectorofSafety and Security Panama Torre Metrobank, Punta Pacifica,Panama operaclones@ptr;"alrcargo.com 

# -t

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE

### EXHIBIT PA03
CERTIFICATE OF INSURANCE

15

# 0 AGENCY DISPLAYOF ESTIMATED BURDEN The pubfrc reporting burden for this coOection of information is estimated to average 30 minutes per response. Ifyou wish to comment on the accuracy ofthe estimate or make suggestions for reducing this burden, please direct your comments to: U.S. Department of Transportation. OffICe ofAviation Analysis, X.sa, 400"" St, SN
..,Washington, D.C. 20590. According to the Paperwork Reduction Act of 1995. no persons are required to respond to 8 collection of information unless Itdisplays a valid OMS control number. Office of the Secretary NOTE: For Infonnation on where tofile completed copies ofthis form. see fiLING INSTRUCTION8 below. of Transportation OMBNo.210e-0030 IreS~2007 

### FOREIGN AIR CARRIERS. CERTIFICATE OF INSURANCE POLICIES OF INSURANCE FOR AIRCRAFT ACCIDENT BODILY INJURY

AND PROPERTY DAMAGE UABIUTY RUNG INSIRUCDONS: File a signed original of this form wtth"the Federal Aviation Administration, Air Transportation Oiv.. AF8-260. 800 Independence Ave., &N., Washington, DC20591. (See EXCEPTIONbelow.)
. 

### EXCEPTION: Ifsection 2.A. is fdled in because the insured is 8 CBnsdian Cham, Air Taxi OperatJJr. file an original ofthis fa"" wlth the U.S. Department

ofTransportation. Special Authorities Division (X-46), 400 7ltl Street, &N, Washington, D.C. 20590 (Please type informaYon, except signetures.) THIS CERTIFIES THAT: Uoyds Syndicates and various Insurance companies (Name of Insurer) has issued a policy or policies of Aircraft Liability Insurance to PanAir Cargo and/or Cargo Three Inc., and / or Alvar Enterprises Ltd FAA Certificate Number (Name, address and FAA CertifICate number of Insured Foreign Air carrier) effective from 7~ June 2012 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. 

# Sg NOTE: Part 205 of the Departmenfs Regulations does not allow for a predetennined termination date, and a certificate showing such a date is unacceplable. 

# .!:&i 1.

The Insurer (Check 

## One':

is licensed to issue aircraft insurance policies in thB United Stales; 

# .g:c3~ is licensed or Bpproved by the government of United Kingdom to issue Bircraft insurance policies; or 

# c: ~ is an approved surplus line insurer in the Slate(s) ot; ,,". ' "" 

# ([)l 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 tenn is defined in 49 U.S.C. 40102. (Complate applicable section A B orCbelow):
. 

# .•

" 

### ~ A. CANADIAN CHARTER AIR TAXI OPERATORS WITH PART 294 AUTHORITY ONLY



### ~ The aircraft covered bythis policy have: (1)30 orfewer passenger seats end e maximum payload capacity of 7,500 pounds or less;

andior (2)a maximum authorized takeoff weight on wheels of no more than 35,000 pounds. (Cqrnplete seperste occomblned CQYell1ae

a8 appropriate): 

# J Separate Coverages: Mjn/mumUmit


# - ~ Poticy No TypeofUabilily Esch MfSOn esch Occummce 

# - ~ 

# - Combined Bodily Injury (Excluding Passengers other 

# f 

# --- than cargo attendants) and Property Damage Uability $75,000 $2,Ooo,ooO"(See note) 

# -- Pessenger Bodily Injury $75,000 $75,000 x75% of 

# '- total number 01 passenger seats 

# , installed in aircraft 

# , ./



### ~ Combined Coverage: This combined coverage is 8 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. 

# - PolicyNo. Amount of COverage U.S. Oollars 

# -.....: •.•.•.••.••.•.. This policy covers CARGO operationa onlyand excludes passenger liability insurance.

NOTE: Ifthe aircraft covered by th!s polley have more than 30 passenger seats or more than a maximum paytoad C8padty of 1,SOO pounds. the minimum limit per occurrence shall be $20,000,000,

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE \\\\\"u i

# """11 On this 2nd

### dayApril 2013. Iattest thisdOCU~~~~J' that Ihave examined. ~Q.~ ••

### ;;'~'SSION;'~

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## c« ~ ""valie ST~~"" 'IJ"" 

## i11\1111"" 

# ~c~ PATRICIO R.VALLEJOS NOTARY PUBLIC STATE OF FLORIDA ID No. 1133358/ Commission DD982614OSTForm6411 B, FOREIGN AIR CARRIERS OPERATING SMALL AIRCRAFT The aircraft covered by this po6cy are SMALL AIRCRAFT (i.e., with 60orfewer passenger seats orwilh a maximum payload capacity of 18,000 pounds or less). (Complete seoerete or combined cove!B!l8 

### as eDQropriate),.

$300,000 $300,000 Minimum Umlt Eachperson Each

### OWummce .',' Type'OfUab/lity Combined Bodily Injury (Excluding Passengers other than cargo attendants) and Property Damage U3bility Passenger Bodily Injury separate Coverages: Po/leYNa $2,000,000 $300,000 x75% :>f total number of passenger seats installed in aircraft Combined Coverage: This combined coverage Isa single limn of liability for each OCCJmsnceat teasl equal to Ihe required minimums stated above for bodily injury (excluding passengers), property damaged, and passenger bodily injury. Policy No. Amount of COVerage. U.S, Dollars 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 18,000 pounds). 

### (ComPlete separaf9 orcombined cov8@ae as appropriate):
Each Occurrence

FAA or Foreign Flag

N755QHI HP1754CTW Registration No Minimum Limit $300,000 $300,000 Each person

Make and Model BoeingW-225f TVDe of Uabn;lv Combined Bodily Injury (Excluding Passengers other than cargo attendants) and Property Damage Liability Passenger Bodily Injury separate Coverages: PoIievNo $20,000,000 $300,000 x75% of total number of passenger seats Installed in aircraft Combined Coverage: This combined coverage is a single limn of liability for each occurrence al leasl .qual 10Ihe required minimums stated above for bodily injury (excluding passengers), property damaged, and passenger bodily injury. Policy No. AYNLS1200692 Amount of Coverage 300000 000 U.S. Dollars This policy covers CARGO operations onlyand excludes passenger liability Insurance.

Operations conducted with atl airaaft operated by the Insured Operationscondudod withthefollowingtypesofa~CllIft: Operationswilh thefollowing a_ft: (Useadditionalpageifnecessary) 3. The policy or policies liSled in this certificate Insure(s) 

### (Check One):

Each policy listed in this certificate meets or exceeds lI1erequirements in 14CFR Part 205.

(Name ofInsurer) 

### lockto0 Companies (Name of Broker, Hepplicable) sdO 'Address) (City, Stete, Zip Code)

(Signetu,., HapplicsbJa) ntact (person whocan verify the effectiveness ofthe coverage)

nature} 

### It M•••.•.

" 

### .tOl' LondongC3A ZAG (CIIy, Stete, ZipCode) 

# few," f:u..l (omee,or authorized repressntawe) +44(0)2079332751 + 0 0 (AreeCorle, umbetl (AreeCorle, FexNumbetl (Atee Corle, FexNumbetl I (Ares Cads. Phon& Number) 

## "

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 

### 20d

day April 

### 2013. Iattest this document is aWaW:\\IHlffltlllJ)at Ihave examined. 

### ~'~~i\Cl0Y41'

,~ 

# *~~ "-<e:: ~

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... '1111Ie. STAi~ 0 ~,~ lilll" "111111\\\' 

# =P~ PATRICIO R.VALLEJOS NOTARY PUBLIC STATE OF FLORIDA ID No. 

### 1133358/ Commission DD 

### 982614

STATE OF FLORIDA COUNTY OF MIAMI-DADE On this 2nd 

### day April ~13. Iattest this docu~I\I!IO"'tllil)i)jal copy, that Ihave examined.

~~.~\C{(

### VAl, 

# 'I,. ~n"f.' •••••••• ,C"&t ~
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.. 

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# ~~-. ~~..«-'.~ NOTARY PUBLIC STATE OF FLORIDA 

## "IIII~llC.'ST';'~ o\\\\~ ID No. 

### 1133358/ Commission DD 

### 982614 1111"1111111\\\'

### EXHIBIT PA 04
FINANCIAL INFORMATION


### Confidential Treatment Requested Under & 302.12)

16

### CARGOTHREE,INC, It is a Panamanian company, whose major shareholders "nd financial'

support come from Panamanian and USAcapital. The main companies that make up this economic group are: 1. - EXIM AMERICA CORP., is 

# a' marketing company dedicated to purchase sale, distribution and representation of equipment, supplies and medical equipme':lt surgical, hospital, dental and laboratory, as well as the provision of services of maintenance of hospital equipment. It has esti!J1ated sales of SSO million a year... Its suppliers more important are: Steris CorporatiOil, Siemmens, Amsino, Mindray, Rockwell and Bausch &



# . ::

### ... Lomb. ~ Shared Service Center: Calle IsaacHanono Missri, Torre Metrobank Piso9, oficina 9C, Punta Pacifica, Ciudad de Panama, Panama Tel 507 203 1430/2032431 Warehouse and Trading Center: 2315 NW 107th Avenue-Suite 1M16 Miami, FL33172, United States Telephone Number: (305) 599-7301
Products or services: key distribution products:

• Monitoring of vital signs, Modular and multipara meter

• Infusion Pump • Etroencefalografos, Electromiografos, potential, magnetic stimulators evoked, brain mapping, cutting edge technology world in Neurodiagnostic

• Equipment for physical therapy and rehabilitation. Compressor>s hot and cold. Pelvic and cervical traction, Electro stimulators, ultrasound, Diathermy, - Kinesiotherapy computerized, equipment multiforce, etc.

• Electrosurgical, pencils Electro surgery and electrodes'

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 7th

. 

### day May 2013. Iattest this document isaoriginal copy, that Ihave examined. 

# ~~c.....o PATRICiO R. VALLEJOS NOTARY PUBLIC STATE OF FLORIDA \0 No. 1133358/ Commission DO982614

### • Electrosurgical Bovie lines. Intensive line of cardiac catheterization in Angiology and

therapies

• Instrumental for consultation and gynecological surgery, consultation Electrosurgical or minor surgery

• Adult, Pediatric and neonatal ..ventilators',' vacuum cleaners, Nebulizers and compressors portable medical • 'fopt models; even blood pressure monitors and table • equipment of diagnostics, ears, noSe,,i?y~sand thrcoat. Proctologic equipment, front lamps 'Portable ultrasonic therapy and wh'~'elchair"t~a~s • Instrumental and materia! of implant for orthopedics and Traumatology~ 'screws, 'plate~, nails, tutors and prosthesis of hi'p, shoulder, etc. • colposcopies high-re'solution optical and mechanical precision • surgical, bone, acrylic cements. Stainless steel sterilization cases
Source of funds deposited inthe account: Exim America sales come directly from the companies, such as 1. Continental medical Omega health, 2. - RISMED DYALISISSISTEMS,Costa Rica, to give support administrative, accounting and logistics companies is USARismed. Group of companies is in'charge of the medical-surgical needs, therefore are oriented towards the distribution wholesale and retail of equipment and material medical surgical, as well as the provision of technical service for medical, but very oriented to the treatment of dialysis and derivatives. They are beginning to explore markets in Colombia and other Latin American countries. They are exclusive representatives of: General Electric, Marco sterir, Draguer, Hill Room and Fresenius Medical Care. The Group of companies RISMED, have sales estimated for the 2012 USD 100 MM. Much of that, manage it through our company in Costa Rica and in the USA.

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 7th 

### day May 2013. Iattest this document isaoriginal copy, that Ihave examined.

PATRICIO R VALLEJOS NOTARY PUBLIC STATE OF FLORIDA ID No. 1133358/ Commission DD 982614

# OPERATIONAL SCHEME

Shippe onbehalfofUSARismed/ CR 

# ........., •RYSMED DIALISYS SYSTEMS USA: 

# I M~magement ofdeposit andoperational logistics - goods . 

### Payments USD 

### INTERNATIONAL SUPPLIERS ~A~M~NTS USD ~RCHAND(SE 

## /

Service Support 

### RYSMED DIALISYS SYSTEMS USA: Service pre ypost sales to customers RYSMED DIALISYS SYSTEMS CR: Shared Service Center: Administration, Trading, etc.

CUSTOMERS USA
- COLOMBIA
- AND OTHERS

Start of operations: 

### Ofthe RYSMEDgroup in March 2007. Business Address: 

### Shared Service Center: Centro Corporativo Internacional, Piso 4. Barrio Don Bosco, avenida 6, calles 26y.28 (Intermontt) San Jose
- Costa Rica. Telephone: 00506-40000553 Email: rismed@scr-cr.net Warehouse and Trading Center: 

### Dianella Mykitta 2315 NW 107th Avenue Doral, FL33172 

## USA Telephone Number:+1305 9723357

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this,7~. day May 2013. Iattest this documenljulilli'flainal copy, that I

### haveexamined
.

.~"~~\C\O 

# VA~,:!I';" i:f. 

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## o~~ PATRICIO R. VALLEJOS 

# 111'!I/:7;,m~Th\\\"" NOTARY PUBLIC STATE OF FLORIDA 10 No. 1133358/ Commission DO982614

### EXHIBIT PA OS
TRAFFIC AND FINANCIAL FORECAST


### Confidential Treatment Requested Under ~302.12)

17Total, . Total 

# *~nA;r

______ Cargo 

# u.s. Operations - Business Operating P/Lfor 2nd Semester2013

132,123.32

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 11th 

### day April 2013. 

# --=r\ 

# > 

# <::::~

\) PATRICIO R. VALLEJOS NOTARY PUBLIC STATE OF FLORIDA 10 No. 1133358/ Commission DO 982614Total

'Toial 

# *~nA;r

_____ Cargo 

### Operational PILfor Weekly Schedule 2013

1,955.50 P/L for the Leg 20,800.00 -$ 3,279.31 30,400,00 $ e,170.77 51,200.00 $ 4,891.46

PIl for the L 4,579.31 6,270.77 1,691.46

PIl. for the L. 3,279.31 8,170,77 4,891..46

Pil for the L 20,800,00 -$ 3,279.31 30,400.00 $ 8,170.77 51,200.00 $ "4,891.46

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 11~ day April 2013. Iattest this documeO"iM,RlilJinal copy, that Ihave examined. 

# ~~c~gX~f~JJ"""" ~Q.."t- ••~~~\SSroNP:'t~U'

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## :$ 'C" s' ~.~ 

# S 

# ~_.....\--..-~U ~~:. .;~14 };~

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### PATRICIO R. VALLEJOS 

# "';;d';~~;'c~~ NOTARY PUBLIC STATE OF FLORIDA '11111~~~i1~~~~\\\\~ 

### ID No. 1133358/ Commission DD 982614ACMI PER LeG I MIA.PTY I $ 3,892,13 I I PTY.MIA I $ 3,524.47 I 

# *~nA;r

_____ Cargo ACMI 

### $ 1'267:.79 Average Block Hours MIA.PTY I 3.07 PTY-MIA I 2,78 

# Detailed Operational Cost Summary
I ,""' ", -,- 1 .-;. 

## j' "
..'

# ,~Air.~r~ff~,.\

, J ,r ':.



# r 'F~el' 

# I F~el--

8-Apr.13 8.Apr.13 Average gal/hour MIA.PTY 1 507 PTY.MIA 1,507

MIA.PTY $ PTY.MIA $ Fuel Comsum MIA.PTY PTY.MIA

PTY •

, MIA bon4,628

4,191 Cost

MIA.PTY $ 13,883,71 PTY.MIA $ 16,226,54

3.8000 3.0000 0.057

NM $ $0.0150



## uso $

$ 

## uso

$ 132.00 $ $ 132.00 $ 

## uso

MIA

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 11~ day April 2013. Iattest this document isaoriginal copy, that I have examined. ~\\"I\' I" II

# ""'11. 

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## tS~ PATRICIO R

### VALLEJOS 

# % "':':~",~~~~.f ,NOTARY PUBLIC STATE OF FLORIDA~*:/,lI8iiC'5i~~~~~ ID No. 1133358/ Commission DO982614 IIIII""II\I\\\\~

### Tons 

## 95.03 Aircraft Gross Weight 

# - 1_"_._. PTY 

# r---.--.- I 

# *~nAir

~ Cargo Operational Costs per Station



# ••• • Aircraft Gross Wj!lght

..

# _- M I .-.- ..- ... I~- t I 

# A ---
Landing Costo (usd) Landing Rate (usd). Per 1 Ton Cost (usd) $1.94 $406.43 $2.56 $243.56 Rate forfirst 6 Hours $120.00 Parking Rates per hour Approximation Rate (usd). Per 1 Ton Cost (usd) Parking hours car 0 hrs Cost usd $6.42 $610.08



## o a 6 Hours 6 120.00 Additional hour 1 $20.00 Rate (usd). Per 1 Ton Cost (usd) Maximum 24 hours 24 $300.00 Parking APHIS (INSPECnON) Rate uS'd~P reacl:tLandin $70.50 $0.25 $23.76 

### • 

## .... ". ,'" Flight Protection Rate (usd). Per 1 Ton Cost (usd) $213.63 $213.63

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 

### 11thdayApril 

### 2013. Iattest this document isaoriginal copy, that Ihave examined.



# . ~""\I\"""I,,,"

. ~,,~ ~~o VALLe111~ ~"\.~""., ••••••• VQt'I~ 

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### ~. ,~:J'.::g:;;: PATRICIO R.VALLEJOS 

# ~,,-~;{~,f NOTARY PUBLIC STATE OF FLORID~~PU8i;Z~sii..*-¥ ID No. 

### 1133358/ Commission DD

### 982614 111"'''/IIil\\\\\\\\~ ,Recupera Rentabilid Rentabilidadpor cion de In ad vs anho 

### 2400000 $ 137.14 $ 7.43

.~ ".

ENGINES 

### 150000 3 $ 9,375.00 78.125 hr MLG 

### 120000 10 $ 1,000.00 8.333333 hr C-CHECK 

### 250000 24 $ 10,416.67 86.80556 hr Line Maintenance Avionics IHT 

### 100000 12 $ 8,333.33 69.44444 hr Preflights 

### 2 9 0.25 4.5 USD/hr
. A-Check 

### 16 9 0.6 86.4 USD/hr B-Check 

### 36 9 0.2 64.8 USD/hr Brakes 

### 9000 36000 $ 7,200.00 $ 60.00 hr Tires 

### 1200 6 $ 7,200.00 $ 18.00 hr 

### 233.7

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 11fu 

### day April 2013. Iattesllhis document isaoriginal copy, that Ihave examined. ~"II\II "" "11"1 

### ~\\' C\o VAlJ.€ "'>:<

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# iii PATRICIO R. VALLEJOS 

# %,.% 

# ~'1'''i:r:~'~1 NOTARY PUBLIC STATE OF FLORIDA 

# ~,Z-:U8LiC'S1~~$-~ 10 No. 1133358/ Commission DO982614 ""II/lIillllll'"

# *<PanAir ---,Cargo A.C.M.I. CALCULATION B-727-200 AIRCRAFT (Aj 

# I .~ Meraft value 

# i~ $ 1,750,000.00 

# I Total Payments $ 

### , 60.00 

## : Monthly Payment $ 40,000.00 

# I Costo por hora '

### .. 1$ " 333.331 CREW(Cj Pilot $ 5,000.00 Quantity 2 $ 10,000.00 Monthly Co-pilot $ 3,000.00 Quantity 2 $ 6,000.00 Monthly Engineer $ 3,000.00 Quantity 2 $ 6,000.00 Monthly Training $ $ 12,133.00 Monthly Total Cost Crew $ 34,133.00 Monthly Cost. perflight hour in USD 1$ 284.44 IHour MAINTENANCE (Mj Reserve for Engine USD'150K' E (4years) 78.13 Hour Landing Gears 8.33 Hour C-Cheek 86.81 Hour Avionics and Hard Time 69.44 Hour Reserve for General Maintenance 727.200 233.70 Monthly Reserve perflight hour in USD 476.41 Hour INSURANCE (I) Yearly Prime perAircraft Yearly Yearly Prime per Civil Liabilities Yearly Total Insurance Cost peryear $ 250,000.00 Yearly Total Insurance Cost per month $ 20,833.33 Monthly Insurance Cost per flight hour in USD 1$ 173.61 IHour TOTAL COSTFORACMI (SUMMARY) Aircraft Crew Maintenance Insurance TOTAL A.C.M.I. per flight hour (not including administration) $ $ $ $ $ 

### USO$

333.33 284.44 476.41 173.61 1,267.79

AVERAGE OF HOURS OPERATED BY MONTH



### I 120 I
.

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 11~ day April 2013. Iattest this document isaoriginal copy, that Ihave examined. ~,,,, 1\11111"'''1 ~\\' ~Q \} 

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# \,;'.r.""'''''I<~~V NOTARY PUBLIC STATE OF FLORIDA 

# ~/~:U8Lic:s;;"t\\\,,~ 10 No. 1133358/ Commission DO 982614 ''''''1111111\'

### EXHIBIT PA 06 OST Form 4523

18U.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 govemment:

"The Carrier shall avail itself of the limitation of liability provided in the Convention for the Unification of Certain Rules Relating to Intemational 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 Cartier agrees that, as to all international transportation bythe Carrier as defined in the said Convention or said Convention as amended oy said Protocol, lNhich, 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 fo;"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 respeel 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 shail be deemed to affeel the rights and liabilities of the Carrier with re9ard to any claim brou9ht by, on behalf of, or in respect of any person who has willfully caused damage 'Nhich resulted in death, wounding, or other bodily injury of a passenger.n • 2. Each Carrier shall, at the time of delivery of the ticket, fumish 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 foilowing notice. which shall be printed in type at leasl 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 with 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 entireiy within the country of origin or destination. For such passengers on a joumey 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 

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# ~.P!1'1 PJ};J ~ (l. CA(l.S0 [(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 iiability 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. liability 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 ~rriage. For further information please consult your airline or insurance company representative. n 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, Ihis 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 'Nhich become a party to this Agreement by signing a counterpart hereof and depositing it 5. Any Carrier party hereto may withdraw from this Agreement by giving lwei and the other Carriers parties to the Agreement. (Signature and Date) "Either alternative may be used. (Printed Name and TWe)
OSTFonn 4523 (Fonnerly CABFonn 263)

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE Onthis2<>d

ayApril 2013. Iattest this docu~\Il!l\llf\llniMl copy, that I haveexamined. ,\' n..\CIO V/f[.I.":!'7i".
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### ICommission DO982614 "III/lhll"I\\~

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### EXHIBIT PA 07 

### Statement ofVerification

19Statement ofVerification

Pursuant to Title 18 United States CodeSeetion 1001, I, Captain Roberto Ramirez, in my Individual capacity asDirector of FlightOperations and asthe authorized representative ofthe

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## . pleader, have not in any manner knowingiy andwiflfully, falsified, concealed, orfailed to disclose any material fact or made anyfalse, fictitious, orfraudulent statement or knowingly used any documents which contain such statements in connection with the preparation, filing or prosecution ofthe pleading, I understand that an individual who isfound to haveviolated the provisions of 18 U.s.Csection 1001 shall befined not more than $10,000 or imprisoned not more than five years, or both,

Signature:

Name: Roberto Ramirez

ntle: Director of Operations
Date:

### STATE OF FLORIDA

COUNTY OF MIAMI-DADE On this 

### 2ndday April 

### 2013. I attest this docum~\\\II\,l\lIHH/litllll copy, that Ihave examined.


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