DEPIOFTRANSPOR 

iJOCKFTS 

BEFORE THE 

DEPARTMENT OF TRANSPORTATION ,..•, ., .^ ., ^ j 

OFFICE OF TflE SECRETARY ' '"' ' ' -

WASHINGTON, D.C. 

NOTICE OF 

Schuman Aviation Company Ltd 

Communications with respect to this document should be sent to: 

Schuman Aviation Company Ltd 

130 lolana Place 

Honolulu, Hawaii 96819 

Attn: Richard Schuman 

December 9, 2009 
BEFORE THE 

DEPARTMENT OF TRANSPORTATION 

OFFICE OF THE SECRETARY 

WASHINGTON, D.C. 

Application of: Schuman Aviation Company Ltd. 

December 14,2009 

for authority to conduct scheduled passenger operations as a 

commuter air carrier under 49 U.S.C. 41738 

DOCKET D6T-os-r-2oi6-Ooofe 

APPLICATION OF 

Schuman Aviation Company Ltd 

130 lolana Place 

Honolulu, Hawaii 96819 

Schuman Aviation Company Ltd submits this application for authority to operate scheduled 

passenger service as a commuter air carrier under section 41738 of Title 49 of the United 

States Code ("the Statute"). 

In support of its application Schuman Aviation Company Ltd states the following: 

Applicant is a Corporation organized on October 1996 under the laws of the State of 

Hawaii. Its address, 130 lolana Street, Honolulu, Hawaii 96819 telephone number 

is 808-834-5813 and fax numbers is 808-837-7867, and email is Schuman@makanikai.com 

Applicant is a citizen of the United States as defined in section 40102(a)(15) of the Statute. 

G. Richard Schuman, President, is a citizen of the United States of American and 

owns 100% of the stock in Schuman Aviation Company, Ltd. 

Applicant is currently engaged in the transportation of passengers and cargo, day and 

night, utilizing Fixed Wing and Rotorwing aircraft under FAA Part 135 "On Demand" 

Certificate number MKHA108K. 

Applicant requests authority to engage in scheduled passenger operations as a commuter and 

proposes to operate Daily scheduled service from the Honolulu International Airport on the 

island of Oahu to the Princeville Airport on the island of Kauai. See Attachment 1. 
Information in support of the applicant's fitness to conduct the proposed air transportation 

operations is contained in Attachments 1 through 1$. 

The contents of this application and the attached exhibit(s) are true and correct to the best of 

my knowledge and belief Pursuant to Title 18 United States Code Section 1001, I G. 

Richard Schuman. President in my individual capacity and as the authorized 

representative of the applicant, have not in any manner knowingly and willftilly falsified, 

concealed or failed to disclose any material fact or made any false, fictitious, or 

fraudulent statement or knowingly used any documents which contain such statements 

in connection with the preparation, filing or prosecution of the application. I understand 

that an individual who is found to have violated the provisions of 18 U.S.C. section 1001 

shall be fined or imprisoned not more than five years, or both. 

Submitted by, 

G. Richard Schuman, President 

Attachment 1 - Proposed Flight Schedule 

Attachment 2 - FAA Part 135 Air Carrier Certificate 

Attachment 3 - FAA Part 145 Air Agency Certificate 

Attachment 4 - Affidavit from Secretary of State 

Attachment 5 - Affidavit stating Citizenship & Aircraft FAA certified. 

Attachment 6 - Resume Key Management Personnel 

Attachment 7 - DOSS from Current Operations Specifications 

Attachment 8 - NTSB Accident report past 24 months. 

Attachment 9 - 2006, 2007, 2008 Balance Sheets 

Attachment 10 - 2006, 2007, 2008 Profit & Loss Sheets 

Attachment 11 - First years forecast from Commuter operations. 

Attachment 12 - 2006, 2007, 2008 Tax Returns 

Attachment 13 - GST Form 4523 

Attachment 14 - Two Copies of OST 4507 

Attachment 15 - Copy of letter informing FAA of Applicants intentions. 
Commuter Air Carrier Authority 

Air Carrier Fitness Division 

Department of Transportation 

X-56, Room 6401 

400 Seventln Street, S.W. 

Washington, D.C. 20590 

December 14, 2009 

RE: Application for Commuter Air Carrier Authority 

To Whom It May Concern 

Schuman Aviation Company, Ltd. FAA Part 135 "On Demand" Air Carrier Certificate MKHA 108K (See 

Attachment 2) has been operating in the State of Hawaii since 1996. We are currently seeking approval 

to conduct Scheduled Airplane Service from the Honolulu International Airportto the Princeville airport 

on the island of Kauai. 

We have been in negotiations with Island Air to conduct daily airplane service to Princeville on their 

behalf. Do to the type of aircraft they currently use, they cannot operate to and from the Princeville 

Airport due to runway length and aircraft performance concerns. Island Air currently operates the De 

Havilland Dash 8. 

Schuman Aviation Company, Ltd owns and operates two Piper PA31-350 Chieftains, which have the 

capabilities to operate to and from the Princeville airport. 

We are currently in discussions about a code share type of relationship between Schuman Aviation 

Company Ltd and Island Air. Island Air would market, sell, collect tickets, set the flight schedules, load 

and unload the aircraft. Schuman Aviation Company, Ltd would supply the aircraft, pilots, fuel and 

maintenance. 

At this time, Schuman Aviation Company, Ltd does not have any intention of launching a scheduled 

service to any other location in Hawaii. If and when another airport becomes feasible, Schuman's 

intentions are to work with and through Island Air. 

Schuman reserves the right to continue "On Demand" aircraft charters should they be required outside 

the Island Air and Schuman Aviation Company, Ltd agreement. 

Schuman Aviation Company Ltd currently "does business as": 

• Makani Kai Helicopters 

• Ko Olina Helicopters 

• Makani Kai Air Charters 

• Pacific Air Express 

Schuman Aviation Company Ltd also is an approved FAA Part 145 Repair Station MKHR108K. (See 

Attachment 3) 

Schuman Aviation Company, Ltd Page 1 
Commuter Air Carrier Authority 

AoDllcants for new certificate or commuter air carrier authority. The following is an 

item by item listing of the requirements per Part 204.3 

(a) Schuman Aviation Company Ltd (applicant) 

130 lolana place 

Honolulu, Hawaii 96818 

808-834-5813 Office 

808-837-7867 Fax 

Email Schuman@makanikai.com 

(b) Schuman Aviation Company Ltd is an C Corporation 

(c) Schuman Aviation Company Ltd registered to conduct business in the State of Hawaii. 

(d) Office of the Secretary of State - (See Attachment 4) 

(e) Affidavit stating applicant is a citizen and all aircraft are FAA approved. - (See Attachment 5) 

(f) Key Personnel - (See Attachment 6) 

G. Richard Schuman - President 

Diane L. Schuman - VP Treasurer. 

Clyde Kawasaki - Director of Operations 

Kyle Gray - Chief Pilot - Airplanes 

Eiki Miyasato - Chief Pilot - Helicopters 

Mike Iven - Director of Maintenance. 

Schuman Aviation Company Ltd. 100% of the stock is owned by G. Richard Schuman personally. No 

other persons have any interest in ownership in this company. 

All Key Personnel and all employees are American Citizens. 

(g) N/A - No other person has any interest in applicant. 

(h) N/A - Applicant operates no other subsidiaries. 

(i) N/A - Applicant does not own any stock in any other company. 

(j) N/A-

(k) N/A - Applicant has never filed a lOK report with the Securities and Exchange Commission. 

(I) N/A- No Actions or outstanding judgments over $5,000 accept one. IRS vs Schuman Aviation 

Company Ltd. This case is over the FET tax of 7.5% the IRS imposed on Helicopter Tour 

Operators. Congress has since amended the interpretation that excluded helicopter tours from 

the FET Transportation Tax. Schuman Aviation Company Ltd is one of several helicopter tour 

operators that is involved is this dispute with the IRS. Court dates are pending in the year 2010. 

Schuman Aviation Company, Ltd Page 2 
Commuter Air Carrier Authority 

There has been three different helicopter operators that have had prevailed in judgment 

summaries regarding this FET Tax but to this date, the IRS has continued their fight to collect this 

tax which no helicopter operator in the USA ever collected or paid with the exception of less 

than a two year period which the IRS agent extorted for the Helicopter operators in Hawaii. 

(m) N/A- No judgments or actions pending. 

(n) Applicants fleet: (See Attachment 7) (D085) 

(1). One (1) Eurocopter AS350 BA Helicopter, - aircraft is owned by applicant. 

Two (2) Piper PA-31-350 Chieftains - both aircraft are owned by applicant. 

Three (3) Cessna B208 Caravans - all three are currently leased aircraft. 

No other aircraft are to be leased or purchased to for fill this applicant's 

request. 

(2) Applicant does not plan or need to purchase / lease additional aircraft to for fill 

applicants request. 

(3) All aircraft are currently approved by the DOT submitted on form 4507 dated 

Aug, 19, 2009. The helicopter, the two Piper Chieftains and one Caravan are 

currently listed on applicants Part 135 Operations Specifications D085 (see 

attachment). The other two Caravans are being converted to Cargo 

configurations and awaiting FAA 135 Conformity Statements which should be 

completed in December 2009. 

(o) N/A - No pending investigations, enforcement actions or formal complaints. 

(p) N/A - No such actions pending 

(q) One helicopter accident, (See Attachment 8) (NTSB report). No other FAA or NTSB actions 

pending. 

(r) Applicant has been conducting helicopter tours and charters since 1996 on the island of 

Oahu in the State of Hawaii. Applicant has had steady growth and in 2009 expanded operations 

to include fixed wing and general aircraft repair. Since October 2009, Applicant has been 

conducting night inter island air cargo operations utilizing the Cessna Caravan. The applicant has 

also been conducting day / night inter island air charters utilizing the muti engine Piper 

Chieftains. Because of the applicant's repetition in the aviation community in Hawaii, applicant 

was approached by Island Air to join forces to service a community that is not currently being 

serviced and applicant already has the aircraft and personnel in place in order to conduct 

operations. 

Schuman Aviation Company, Ltd Page 3 
Commuter Air Carrier Authority 

(s) Applicant only operates in the State of Hawaii. The local FSDO is located at 135 Nakolo Place, 

Honolulu, Hawaii, 96819. Applicants POI is Inspector Gino Rezzonico who can be reached at 808-

837-8385. 

(t) Applicants wish to conduct a schedule commuter service out of the Honolulu International 

Airport to and from the Princeville Airport located on the island of Kauai. Initially we are 

considering five round trip flights per day, operated seven days per week. 

No other scheduled commuter service is being considered at this time. 

(1) Balance Sheet - (See attachment 9) forecasts - N/A - Applicant does not feel it needs to 

submit a forecast Balance Sheet. Attached are the last three year actual Balance Sheets. 

Applicant does not plan on acquiring any additional aircraft, equipment, orfacilities. We 

have everything we need to start operations right now. 

(2) Income Statement - (See attachment 10). Attached are the last three year actual Income 

Statements. Also included is the additional income and expenses forecasted to conduct the 

Honolulu to Princeville service, five times a day, seven days a week. Because we will not be 

selling seats, the income shown is a block rate provide to Applicant regardless of seats sold. 

(See Attachment 11). 

(3) Applicant 2006, 2007. & 2008 Tax Returns - (See Attachment 12) 

(u) OST Form 4523 - (See Attachment 13) 

(v) Applicant will provide the following with application and all subsequent written 

communications: 

Pursuant to title 18 United States Code section 1001,1 Richard Schuman, President of Schuman 

Aviation Company, Ltd, in my individual capacity and as the authorized representative of the 

applicant, have not in any manner knowingly and willfully falsified, concealed or covered up any 

material fact or made any false, fictitious, or fraudulent statement or knowingly used any 

documents which contain such statements in connection with the preparation, filing, or 

prosecution of the application. I understand that an individual who is found to have violated the 

provisions of 18 U.S.C sections 1001 shall be fined nor more than $10,000 or imprisoned not 

more than five years, or both. 

(See Attachment 14) Two completed OST Form 4507 

(See Attachment 15) Copy of a letter informing the FAA of applicant's intention to start 

conducting Comrnuter Service. 

G. Richard Schuman 

President 

Schuman Aviation Company, Ltd Page 4 
Chieftain Schedule 

Draft 1 

12.07.2009 

;.- ' k:.. 

ORG 

HNL 

HPV 

HNL 

HPV 

HNL 

HPV 

HNL 

HPV 

HNL 

HPV 

AIRCRAFT ROTATION 

DEP 

8:00 

9:05 

10:15 

11:20 

13:00 

14:05 

15:15 

16:20 

17:30 

18:35 

ARR 

8:45 

9:50 

11:00 

12:05 

13:45 

14:50 

16:00 

17:05 

18:15 

19:20 

DES 

HPV 

HNL 

HPV 

HNL 

HPV 

HNL 

HPV 

HNL 

HPV 

HNL 

TURN 

0:20 

0:25 

0:20 

0:55 

0:20 

0:25 

0:20 

0:25 

0:20 

V 

FREQ 

Daily 

Daily 

Daily 

Daily 

Daily 

Daily 

Daily 

Daily 

Daily 

Daily 

HNL 

HNL 

HNL 

HNL 

HNL 

8:00 

10:15 

13:00 

15:15 

17:30 

"'-' ^SS^M 

8:45 HPV 

11:00 HPV 

13:45 HPV 

16:00 HPV 

18:15 HPV 

TJMETABLE . 

Daily 

Daily 

Daily 

Daily 

Daily 

HPV 

HPV 

HPV 

HPV 

HPV 

" 

9:05 

11:20 

14:05 

16:20 

18:35 

?•••"• : i'- / S 

9:50 HNL Daily 

12:05 HNL Daily 

14:50 HNL Daily 

17:05 HNL Daily 

19:20 HNL Daily 

AVEkAGE DAILY LIFT STATS 1 

Aircraft 

Miles 

Block Hours 

Ave. Util 

Departures 

Ave Distance (SM) 

ASM's 

Seats/Dept 

1 

1250 

7.5 

7.5 

10.0 

125 

8750 

7 

12/7/2009 5:39 PM Schedule Summary.xls 
m 

us Department 

of Tiransportafion 

Federal Aviatlbn 

Administration 

Air Carrier Certificate 

This certifies that 

SCHUMAN AVIATION COMPANY, LTD. 

130 lOLANA PLACE 

HONOLULD, HAWAII 96819 

has met the requiremonts of the Federar Aviation Act of 1958, as amended, and the rules, 

regulations, and standards pfeseribed thereunder for the Issuance of this certificate and is 

hereby authorized to operate as an air barrier and condyct common carriage operations in 

accordance with said Act and the rules, regulations, and standards prescribed thereunder 

and the terms, conditions, and limitations contained in the approved operations specifications. 

This certificate is not transferable and, unless sooner surrendered, suspended, or revol<ed, 

shall continue in effect indefinitely. 

Certificate number: MKHA108K 

Effective Date: FEBRUARY 19. 1991 

REISSUED:, SEPTEMBER 3,2008 

Issued at: wpn . RONOi.injT. HAWAIT 

By Direction of the Administrator 

(Signature) 

ACTING MANAGER. WP.HNT.-PSDO 

(Title) 

WFSTHRN-PAGIPTC REGION. FSDO H 

(Region/Office) 

FAA Form 8430-18 (6-87) AFS Elsotronic Forms System • y2;2 
> UNITED STATES OF AWIEFUCA, 

DEPARtMENT b f TRANSPORTATION 

FEDERAL. AVIATtOJM ADMINISTRAliON 

•yirtxan^de^ MKHR108K 

Schumaii Aviation Company, LTD. 

130 iolana Place 

Honolulu, Hawaii 96819 

Limited Airframe 

Limited Powerplant 

dAa^^^hK'^^i^t^i^ i ^ €/S^c^ indefinitely. 

Nov. 24,2009.: -MUM. ^ ^ '^' 

/William t^MilleriMalinger -

'f^HH Crttificate te not %XCmittttdil(, AND ANY MAJOR CHANGE I N THE BASIC t!ACfUTIESi,QR IN THE LOCATION THEREOF,'' 

SHALL BE IMMEDIATELY REPORTED TOTHE APPROPRIATE REGrOKIAl; OFFICE OFTHEFEOERAtAVMVTIOlJ ADMINISTRATION , , .„ ; 

A«y alteration of this certi/icati idpuniihabh hy a fine of mi exceeding $1,000, or imprisomnent not exceeding i years, or both 

FAA Form 8000-4 (1r87) SUPERSEDEftFAA FORM 390, AFSEl9eironieF<irWsSyat8m-v2.2 
Department of Commerce and Consumer Affairs 

CERTIFICATE OF GOOD STANDING 

I, the undersigned Director of Commerce and Consumer Affairs 

of the State of Hawaii, do hereby certify that according to 

the records of this Department, 

SCHUIVIAN AVIATION COMPANY, LTD. 

was incorporated under the laws of the State of Hawaii on 

10/10/1996 ; and that it is an existing corporation in good 

standing, and is duly authorized to transact business. 

IN WITNESS WHEREOF, I have hereunto set 

my hand and affixed the seal of the 

Department of Commerce and Consumer 

Affairs, at Honolulu, Hawaii. 

Dated: December 09, 2009 

Director of Commerce and Consumer Affairs 

if 

^ y 

.^^^' ' 

To check the authenticity of this certificate, please visit: http://hbe.ehawai l .gov/documents/authenticate .html 

Authentication Code: I844i-C0GS PDF-106118D1 
AFFIDAVIT OF CITIZENSHIP 

STATE OF HAWAII 

COUNTY OF HONOLULU 

I, G. Richard Schuman, Being first duly sworn, deposes, and says: 

1. That he is duly elected, qualified, and serving as President of Schuman Aviation 

Company. Ltd and that he is authorized to and does make this affidavit for it. 

2. That G. Richard Schuman is a citizen of the United States within the meaning of 49 

U.S.C 40102 (a) (15) 

/J. Uw^^^:^:::^ 

Subscribed and sworn to before this A day of ^>=>s>* ^ 2009. 

(signature of Notary Public) ^^ a Z' A'~ ^ 

(SEAL)^ 

~^^^// / 

NOTARY PUBUCCERTlflCATlON^^^, 

Leticia Wong 

Doc. Descriptjc 
AFFIDAVIT OF SAFETY COJMPLIANCE 

STATE OF /-MoJ^r' 

COUNTY OF A^jAt!) U /u -

I, Richard Schuman, being first duly sworn, deposes and says: 

1. That he/she is duly elected, qualified, and serving as President 

of Schuman Aviation Company Ltd. does make this affidavit for it and that he/she is 

authorized to and 

2. That all aircraft owned and leased by Schuma n Aviatio n Compan y Ltd . 

have been certified by the Federal Aviation Administration and currently comply with 

all applicable Federal Aviation Administration safety standards under Part 135, as well 

as the noise standards of Part 36, of the Federal Aviation Regulations. 

Subscribed and sworn to before me this /;? day of ^^y^^Ue-- 200 

fiAL)" Leticia Wong 

Doc. Dsscripti 

'FICATION 

First Circuit 
SCHUMAN AV\AT10N COMPANY LTD. 

OPERATIONS NAANUAL INTRODUCTION 

ORGAZATIONAL CHART 

1 

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~. Chief Pilot ' 

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v AiYraen'lnsinicvOt; ^ 

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REVISION 14 V 05/1/09 
U.S. Department 

of Transportation 

Federal Aviation 

Administration '. 

Operations Specifications 

A006. Management Personnel 

The certificate holder is authorized the following management positions: 

HQ Control: 

HQ Revision: 

02/10/98 

02b 

a. The certificate holder uses the following named personnel in the 14 CFR Part 135 management positions 

listed below. 

Part 119 Position Title 

Chief Pilot, Part 135 

Dir. of Maintenance, Part 135 

Dir. of Operations, Part 135 

Name: 

Miyasato, Eiki 

Iven, Mike 

Kawasaki, Clyde 

Company Equivalent Position Title: 

Chief Pilot 

Dir. of Maintenance, Part 135 

Dir. of Operations, Part 135 

1. The Certificate Holder applies for the Operations in this paragraph. 

2. Support information reference: 

3. These Operations Specifications are approved by direction of the Administrator. 

Principal Operations Inspector 

ite Approval is effective: 8/25/09 

5. I hereby accept and receive the Operations Specifications in this paragraph. 

Schuman, Gustav R. Agent for Service 

WP13 

Amendment Number: 13 

Date: 8/25/09 

Print Date: 8/25/2009 A006-1 

Schuman Aviation Company, Ltd. 

Certificate No.: MKHA108K 
U.S. Department 

of Transportation 

Federal Aviation 

Administration 

Operations Specifications 

A007. Other Designated Persons HQ Control 12/19/06 

HQ Revision 020 

a. The following person is designated as the certificate holder's Agent for Service: 

Schuman, Gustav R. 

1534 Uluhaku Place 

Kailua, HI 96734 

b. The following personnel are designated to officially apply for and receive operations specifications for 

the certificate holder as mdicated below. 

Table 1 - Personnel Designated to Apply for and Receive Operations Specifications 

Title 

President 

Dir. of Maintenance, Part 135 

Dir. of Operations, Part 135 

Name 

Schuman, Gustav R. 

Iven, Mike 

Kawasaki, Clyde 

Parts Authorized; 

ABODE 

DE 

ABC 

c. The following personnel or company email boxes are designated to receive Safety Alert for Operators 

(SAFO) and/or Information for Operators (INFO) messages for the certificate holder as indicated below. A 

receipt of the information by an air carrier or person is not required. 

Table 2 - Personnel Designated to Receive SAFOs and/or INFOs 

Name 

Iven, Mike 

Schuman, Gustav R. 

Email Address 

mike@makanikai.com 

schuman@makanikai.com 

Telephone No. 

(808) 384-3329 

(808) 306-1000 

Type of Information to 

Receive 

AW 

Both OPS/AW 

1. The Certificate Holder applies for the Operations in this paragraph. 

2. Support information reference: 

3. These Operations Specifications are approved by direction of the Administrator. 

Principal Operations Inspector 

4. Date Approval is effective: 8/25/09 

5. I hereby accept and receive the Operations Specifications in this paragraph. 

Schuman, Gustav R. Agent for Service 

WP13 

Amendment Number: 14 

Date: 8/25/09 

Print Date: 8/25/2009 A007-1 

Schuman Aviation Company, Ltd. 

Certificate No.: MKHA108K 
Gustav Richard Schuman 

1534 Uluhaku Place 

Kailua, Hawaii 96734 

(808)306-1000 

Email Schuman(^makanikai.com 

EMPLOYMENT: 

Schuman Aviation Company, Ltd. d.b.a. Makani Kai Helicopters 

October 1, 1996 to present 

President: 

Responsible for day-to-day operations of Part 135 , Part 133, Part 145 Helicopter & Fixed Wing Company 

conducting Statewide transportation of passengers, cargo, tours, charters, utility and general aviation 

aircraft repair. 

Schuman Carriage Company, Ltd. 

January 1, 2001 to October 2004 

Vice President & Director of Fix Operations: 

Responsible for the day to day operations of the parts and service departments for a Buick, Cadillac, GMC, 

Hummer and Subaru vehicle dealerships. Assist negotiations in the sale of NAPA Distribution, 12 NAPA 

AUTO PARTS stores and Schuman Carriage Company. 

Hawaiian Odyssey Helicopters 

January 1, 1996 to September 30, 1996 

President & Owner: 

Responsible for day-to-day operations of Part 91 Helicopter Company conducting aerial tours and 

photography. 

Industrial Technology 

October 1993 to October 1995 

Field Supervisor & Sales of Industrial Waste Disposal & Containment: 

Responsible for clean up, packaging, transportation and disposal of Regulated & Hazardous Waste 

Schuman Automotive Company Ltd. 

October 1980 to October 1993 

President: 

Responsible for day to day operations of twelve NAPA Auto Parts Stores, Tool & Equipment Departments, 

and Complete Automotive Machine Shop. 

EDUCATION: 

Damien Memorial High School, Honolulu, Hawaii Graduate 1976 High School Diploma 

Northwood University, Midland Michigan Graduate 1980 Bachelor Business Administration 

Associate Degree Automotive 

Dealership Management & Parts 

Distribution 

MILITARY 

U.S. Army Reserves 

Enlisted 1986 to 1990 

Hawaii Army National Guard 

Infantry Officer 1990 to 2005 

Honorable Discharge 

PROFESSIONAL LICENCES & RATEINGS: 

Commercial Helicopter Pilot - FAA Part 135 & Part 133 

Private Pilot Single Engine Airplane 

Commercial Drivers Licenses - Endorsements Triples, Tanker and Hazardous Waste 

Open Ocean Scuba Diver 

Proficient in: Microsoft Word, Excel, Outlook, Alpro, & QuickBooks 
Diane Lynn Schuman 

1534 Uluhaku Place 

Kailua, Hawaii 96734 

(808) 262-2229 

EMPLOYMENT: Current 

Schuman Aviation Company, Ltd. D.b.a. Makani Kai Helicopters 

January, 1997 to present 

Vice President & Treasure - Responsible for day-to-day accounting functions of Part 135 , Part 133, Part 

145 Helicopter & Fixed Wing Company conducting Statewide transportation of passengers, cargo, tours, 

charters, utility and general aviation aircraft repair. 

Hawaiian Odyssey Helicopters 

January 1, 1996 to September 30, 1996 

Accounting responsible for overall bookkeeping functions of Part 91 Helicopter Company conducting 

aerial tours and photography on the island of Oahu 

June 1988 to January 1996 - Full time mother of three 

Bob Smolinski & Woodell Law Firm 

September 1984 to June 1988 

Accounting office manager 

Responsible for all office functions in a five attorney law firm 

PROTEC and Auto Audio 

June 1981 to September 1984 

Bookkeeper 

Responsible for accounts payable and receivable for a wholesale automotive car stereo and Supply 

Company 

EDUCATION: 

Alcona High School, Lincoln, Michigan Graduate 1978 

Northwood University, Midland Michigan Graduate 1980 Associate Business Administration 
Clyde Kawasaki 

p. O. Box 624 

66-1490 Pu'u Huluhulu Rd. 

Kamiiela,Hl 96743 

Home: 808-885-4740 

Cell: 808-753-6369 

Email: pokesquid69@hawaii.nr,com 

OBJECTIVE: Career Pilot 

QUALIFICATIONS 

Certificates: ATP, Commercial, Multi-engine, CFI, CFI-MEI, Commerciai Glider, CFIG 

B-737 Type Rating-200, -300, -400, NG Series 

B-777 Type Rating 

Estimated fli^t time: 16,000 hours 

Estimated Turt)ine time: lOOOhoiBrs 

Estimated Piston time: 2000 hours 

Have flown Aero Commander 500,690, Twin Beech (tail dragger and fri-gear), Cessna 100 series, 200 

Series, 310,400 series, Chieftan, DC-3, DHC-6, North American H^vard aand other aircraft and helicopters, 

turbine and piston. 

EDUCATION 

1971 -Graduated Honokaa Hi ^ School 

1971-75 Arizona State University, Aeronautics Degree studies, did not graduate. 

EMPLOYMENT 

June 1988 to March 31, 2008 Aloha Airlines Inc. Captain, B-737- 200, 300,400, NG,ETOPS 

qualified. 

November 1986 to January 1988 Mid Pacific Air, FlewNihon YS-ll interislaaid routi^, 

August 1983 to November 1986 Flew at various Air Tour companies and small 135 operators in 

the Hawaiian Islands and Guam. 

1 also have expwience being Chief Pilot, Director of Operations, for vwous Part 135 operators. 

References: Scott Banning, Hawaiian Airlines Captain/Check Airman 

Doug Dyer, Hawaiian Airlines Captain /Check Airman 

Mike Butts, Hawaiian Airlines Captain 

Robert Carney, Hawaiimi Airlines pilot 

Capt. Roland Smith, Chief Pilot, Alolm Aircargo 

Capt. Peter Clark, Director of Operations, Aloha Aireargo 
KYLE K. GRAY 

Permanent Address 

650 Mokapu Rd. 

Kailua, HI 96734 

Contact Info 

Cell: (808) 255-9376 

Email: kkgray@hotmail.com 

Objective: Makani Kai Chief Pilot/ Line Pilot/ CheckAirman. 

Flight Times 

Total Time: 3490 

Second in Command: 2451 

Multi-Engine: 2871 

Pilot in Command: 873 

Jet/Turbine: 3040 

Instrument: 515 

Night: 780 

X-C:3192 

Ratings 

Airline Transport Pilot, (ICAO ATPL) 

Type Rating: CL-65(Command), EMB-145(SIC), B-737(SIC) 

Commercial Privileges: ASEL, AMEL 

Certified Flight Instructor: CPU (Expired) 

FAA First Class Medical Certificate 

Restricted Radiotelephone Operator Permit 

US Citizen/Valid US Passport 

English Proficient Endorsement 

Employment/Experience 

09/09 to Current: Alpine Air, Honolulu, Hawaii 96819 

Captain: Beech 99 Airliner. Part 135 Scheduled cargo service. 

04/08 to 07/08: Mokulele Airlines, Kona, Hawaii 96740 

Captain: Cessna Grand Caravan C208B. Part 135 Scheduled Inter-island passenger 

service. 

01/07 to 03/08: Aloha Airlines, Honolulu, Hawaii 96813 

First Officer: Boeing 737-200/737-700. Part 121 Inter-island passenger/cargo service. 

Extended Range, Oceanic/ETOPS flying between Hawaii and the US West Coast. 

08/03 to 01/07: Mesa Air Group, Phoenix, Arizona 85008 

Captain/First Officer: CL-65/EMB-145. Part 121 passenger operations throughout Eastern US 

and Hawaii. 
08/02 to 08/03: Eveland Aero, Honolulu, Hawaii 96819 

Flight Instructor: Professional flight and groimd instructor. 

05/98 to 04/00: Federal Express, Honolulu, Hawaii 96819 

Non-Dot Handler: Loading and Off-loading Aircraft HNL ramp. 

Education 

Mesa Airlines Pilot Development, San Juan College, Farmington, NM 

Part 141, Private pilot though Multi/Instrument/Commercial and also including turbine sim and 

aircraft training on Beech 1900D Airliner. 

Associates Degree in Aviation Technology, April 2000-January 2002. 

Kalaheo High School, Kailua, HI, August 1993-May 1997 

Professional Training 

08/03 

05/06 

01/07 

09/07 

03/08 

04/08 

10/09 

03/09 

EMB-145 Initial Pilot Training, Mesa Airlines, Phoenix, AZ 

CL-65 Captain Upgrade Training & Type Rating, Mesa Airlines, Phoenix, AZ 

B-73 7-200 Initial Pilot Training, Alteon Training Center, Long Beach, CA 

B-737-NG Differences Pilot Training, Alteon Training Center, Long Beach, CA 

B-737-NG Recurrent Sim Check, Alteon Training Center, Seattle, WA 

C-208B Part 135 training and check ride, Mokulele Airlines, Kona, HI 

BE-99 Part 135 training and check ride, Alpine Air, Honolulu, HI 

BE-99 Part 135 check ride w/ FAA B. Paget, Alpine Air, Honolulu, HI 

Multiple recurrent ground training events including weather and systems review, excellent CRM 

and safety focused training. 

Other: Experienced in cold weather operations, FMC/FMS, EFIS, Glass Cockpit, Auto 

Throttles and CRM. No failed check rides or training events. No accidents, incidents or 

violations. 

First Place finish 2002, Great Hawaiian Air Race speed category. 
Eiki Miyasato 

94-728 Lumiauau Street #L-6 

Waipahu, Hawaii 96797 

(808) 676-2668 

Cellular 808 306-1005 

EMPLOYMENT: 

Makani Kai Helicopters 

Marcli 2001 to Present 

As Makani Kai Helicopters Instructor Pilot I conducted Part 135 helicopter day / night tours, 

charters, and aerial photography on the Island of Oahu. I developed and implemented the 

companies pilot training program, served as the company liaison between government offices 

(FAA, TSA, DOT, etc.), American and Japanese vendors, etc. 

Sunshine Helicopters 

March 2000 to March 2001 

Responsible for Part 135 operations and conducting aerial tours, photography, and special charters 

on the Island of Hawaii. 

South Sea Helicopter Tours 

February 1999 to March 2000 

Responsible for Part 135 operations and conducting aerial tours, photography on the Island of 

Kauai. 

Makani Kai Helicopters 

January 1991 to February 1997 

As Makani Kai Helicopters General Manager I oversaw and developed the growing Night flight 

segment of the companies Part 135 operation and conducted training, tours, charters, etc. during 

daytime operations. 

PILOT RATINGS: 

Commercial Single / Multi Engine Airplane/ Helicopter Pilot 

Single / Multi Engine Airplane and Helicopter Flight Instructor 

Advanced Ground Instructor 

Certificate Number 6593264 

Class II Medical 

Single/Multi Engine Airplane Instrument Instructor 

Helicopter Instrument 

EDUCATION: 

Okinawa Technical High School Graduated 1972 

FACTORY TRAINING: 

Robinson R-22 Pilot Course Completed Sep, 1995 

Robinson R-22 Instructor Course Completed Sep, 1995 

Robinson R-44 Instructor Course Completed Oct, 2001 

McDonnell Dougals Hughes 500D Completed Jan, 1993 

American Eurocopter AS350BA Completed Dec.2004 
Mike Iven 

Honolulu, Hi 12-01-2009 

Resume 

Qualifications Summary: 

Work Experience: 

1995 - 1998 A&P Certification, Roeder "Praezision", Germany 

1998-1999 A&P Helicopter Adventures FAR 141 /145, Concord, Ca 

2000 - 2004 FAR 135 DOM, Rainbow Pacific Helicopters, Honolulu, Hi 

2006-2007 FAR 135 DOM, All Island Aviafion / Resort Air, Honolulu, Hi 

2007-2008 President A&P Service - Cessna Service Center Hawaii 

2008 - present FAR 135 DOM , Schuman Aviation Company, Honolulu, Hi 

1999 - present Robinson Helicopter Factory Service Center mechanic Hawaii 

2009 - present FAR 145 Repair Station - Accountable Manager, Schuman Aviation, Hi 

Certifications: 

• A&P - lA - CFI # 2528913 

• Helicopter CFI, Fixed Wing rated - 2000 + flight hrs 

• Cessna Citation, Eurocopter & Robinson Helicopter factory maintenance training, 

Hazmat Certification, Air conditioning Certification, Human performance in 

maintenance seminar 2009, NDT - Eddy current class 2009. 

JJ//^ 

1296 Kapiolani Blvd # 2604 - Honolulu, Hi 96814 - 808-384-3329 miinhh@gmail.com 
U.S. Department 

of Transportation 

Federal Aviation 

Administration 

Operations Specifications 

DOSS. Aircraft Listing HQ Control: 

HQ Revision: 

02/06/98 

02a 

a. The certificate holder is authorized to conduct operations under 14 CFR Part 135 using the aircraft 

identified on this operations specification. 

Registration No. 

N6077H 

N866MA 

N135PB 

N351CA 

Serial No. 

2693 

208B0934 

31-7952035 

31-7852075 

Aircraft M/M/S 

AS-350-BA 

CE-208-B 

PA-31-350 

PA-31-350 

1. Issued by the Federal Aviation Administration. 

2. Support information reference: 

3. These Operations Specifications^re approved by direction of the Administrator. 

Valdez, Edward 

4. Date Approval is effective: 9/1/09 

Principal Maintenance Inspector WP13 

Amendment Number: 8 

5. I hereby accept and receive the Operations Specifications in this paragraph. 

Iven, Mike Dir. of Maintenance, Part 135 Date: 9/1/09 

Print Date: 9/1/2009 D085-1 

Schuman Aviation Company, Ltd. 

Certificate No.: MKHA108K 
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WPR09FA072 Page 1 of 1 

NTSB Identification: WPR09FA072 

Nonscheduled 14 CFR Part 135: Air Taxi & Commuter 

Accident occurred Monday, January 05, 2009 in Honolulu, HI 

Probable Cause Approval Date: 11/9/2009 

Aircraft: EUROCOPTER AS 350 BA, registration: N141MK 

Injuries: 2 Uninjured. 

The purpose of the flight was to transport a worker to an antenna located on a ridge top at an elevation 

of about 2,400 feet. The pilot reported that the flight to the location was uneventful and that he 

completed his prelanding checklist and noted nothing abnormal. Just prior to landing, there was a loss of 

engine power. According to the pilot, "the engine felt and sounded like it was winding down and rotor 

RPM was starting to bleed off" At this point the helicopter was less than 10 feet from the landing site 

and was not holding altitude. The pilot maneuvered the helicopter so that it touched down and rolled 

over onto its right side, which prevented the helicopter from falling down the steep slope of the ridge. 

After the helicopter came to rest, the pilot shut down the engine. Examination of die helicopter revealed 

no discrepancies with the fuel system. Engine continuity was established. A pneumatic leak check was 

performed and leaks were identified at the temperature compensator and at the PX acceleration bellows. 

A test cell run of the engine was completed without tightening any of the pneumatic fittings. During the 

test cell run, the engine achieved maximum continuous, takeoff, and thermodynamic shaft horsepower. 

The engine did not surge during transient deceleration and acceleration runs, and was responsive to 

commanded throttle inputs. No preexisting condition was identified on the engine that would have 

interfered with normal operation or explain the reported loss of engine power. 

The National Transportation Safety Board determines the probable cause(s) of this accident as follows: 

The partial loss of engine power during landing for an undetermined reason. 

Full narrative available 

Index for Jan2009 I Index of months 

http://www.ntsb.gov/ntsb/brief asp?ev_id=20090105X82128&key=l 12/3/2009 
6:32 PM Makani Kai Helicopters 

12/08/09 Balance Sheet 

kAccrual Basis As Of December 31 , 2006 

Dec 31, 06 

ASSETS 

Current Assets 

Checking/Savings 

CHECKING-BOH 

MAXI-MIZER SAVINGS-BOH 

Total Checking/Savings 

Accounts Receivable 

ACCOUNTS RECEIVABLE 

Accounts Receivable - Trade 

Total Accounts Receivable 

Other Current Assets 

INVENTORY 

INVENTORY ASSET 

OTHERS 

UNDEPOSITED FUNDS 

Total Other Current Assets 

Total Current Assets 

Fixed Assets 

Accumulated Depreciation 

LEASEHOLD IMPROVEMENTS 

HELICOPTER 

FIXED ASSETS 

64,549.37 

33,037.71 

97,587.08 

133,700.64 

-22,309.92 

111,390.72 

7,122.94 

-721.50 

-100.00 

16,806.09 

23,107.53 

232,085.33 

-1,868,431.07 

18,572.99 

1,399,352.00 

620,726.91 

Total Fixed Assets 170,220.83 

Other Assets 

LOAN TO G. RICHARD SCHUMAN 34,851.64 

GOODWILL 280,192.00 

Accumulated Amortization -177,303.00 

Total Other Assets 137,740.64 

TOTAL ASSETS 540,046.80 

LIABILITIES & EQUITY 

Liabilities 

Current Liabilities 

Accounts Payable 

ACCOUNTS PAYABLE 19,499.07 

ACCOUNTS PAYABLE - T/R 43,712.86 

Total Accounts Payable 

Other Current Liabilities 

Interest Payable 

CURRENT PORTION LTD 

Accrued Liabilities 

PAYROLL LIABILITIES 

Total Other Current Liabilities 

Total Current Liabilities 

Long Term Liabilities 

Note Payable - BOH #2466 

Note Payable - BOH #2357 

Note Payable - BOH #2281 

NOTE PAYABLE - SBA 

LESS CURRENT PORTION LTD 

NOTE PAYABLE 

Total Long Term Liabilities 

63,211.93 

418.34 

88,000.00 

5,000.00 

32,526.04 

125,944.38 

189,156.31 

21,594.58 

48,832.24 

44,983.57 

32,285.24 

-88,000.00 

340,651.52 

400,347.15 

Total Liabilities 589,503.46 

Page1 
6:32 PM IVIakani Kai Helicopter s 

12/08/09 Balance Sheet 

^Accrual Basis As of December 31, 2006 

Dec 31, 06 

Equity 

Capital Stock 20,000.00 

RETAINED EARNINGS -187,599.02 

Net Income 118,142.36 

Total Equity -49,456.66 

TOTAL LIABILITIES & EQUITY 540,046.80 

Page 2 
6:32 PM 

12/08/09 

k Accrual Basis 

Makani Kai Helicopters 

Balance Sheet 

As of December 31, 2007 

Dec 31, 07 

ASSETS 

Current Assets 

Checking/Savings 

CHECKING-BOH 

MAXI-MIZER SAVINGS-BOH 

Total Checking/Savings 

Accounts Receivable 

ACCOUNTS RECEIVABLE 

Accounts Receivable - Trade 

Total Accounts Receivable 

Other Current Assets 

INVENTORY 

INVENTORY ASSET 

OTHERS 

UNDEPOSITED FUNDS 

Total Other Current Assets 

Total Current Assets 

Fixed Assets 

Accumulated Depreciation 

LEASEHOLD IMPROVEMENTS 

HELICOPTER 

FIXED ASSETS 

Total Fixed Assets 

Other Assets 

Income Tax Receivable - Federal 

Income Tax Receivable - Hawaii 

Deposits 

LOAN TO G. RICHARD SCHUMAN 

GOODWILL 

Accumulated Amortization 

Loan Fees 

Accumulated Amortiz - Loan Fees 

Total Other Assets 

TOTAL ASSETS 

LIABILITIES & EQUITY 

Liabilities 

Current Liabilities 

Accounts Payable 

ACCOUNTS PAYABLE 

ACCOUNTS PAYABLE - T/R 

First Card 

Total Accounts Payable 

Other Current Liabilities 

Interest Payable 

CURRENT PORTION LTD 

Accrued Liabilities 

PAYROLL LIABILITIES 

SALES TAX PAYABLE 

Total Other Current Liabilities 

33,628.55 

95,439.56 

129,068.11 

141,269.79 

-22,309.92 

118,959.87 

7,122.94 

-721.50 

-100.00 

6,761.23 

13,062.67 

261,090.65 

-2,090,656.07 

18,572.99 

2,169,983.57 

621,768.56 

719,669.05 

5,381.00 

14,284.00 

102,500.00 

34,851.64 

280,192.00 

-192,648.00 

5,000.00 

-83.00 

249,477.64 

1,230,237.34 

82,984.39 

80,941.84 

78,177.04 

242,103.27 

6,581.05 

127,000.00 

5,000.00 

31,603.34 

775.97 

170,960.36 

Total Current Liabilities 413,063.63 

Pagel 
6:32 PM Makan i Kai Helicopter s 

12/08/09 Balance Sheet 

i Accrual Basis As of December 31 , 2007 

Dec 31, 07 

Long Term Liabilities 

Note Payable - BOH #2466 

Note Payable - BOH #2357 

Note Payable - BOH #2281 

NOTE PAYABLE - SBA 

LESS CURRENT PORTION LTD 

NOTE PAYABLE 

Total Long Term Liabilities 

Total Liabilities 

Equity 

Capital Stock 

RETAINED EARNINGS 

Net Income 

Total Equity 

TOTAL LIABILITIES & EQUITY 

13,781.03 

39,315.76 

35,715.17 

27,150.00 

-127,000.00 

960,200.24 

949,162.20 

1,362,225.83 

20,000.00 

-65,172.66 

-86,815.83 

-131,988.49 

1,230,237.34 

Page 2 
6:32 PM Makani Kai Helicopters 

12/08/09 Balance Sheet 

^Accrual Basis As of December 31, 2008 

Dec 31, 08 

ASSETS 

Current Assets 

Checking/Savings 

CHECKING-BOH 

MAXI-MIZER SAVINGS-BOH 

Total Checking/Savings 

Accounts Receivable 

ACCOUNTS RECEIVABLE 

Accounts Receivable - Trade 

Total Accounts Receivable 

Other Current Assets 

INVENTORY 

INVENTORY ASSET 

OTHERS 

UNDEPOSITED FUNDS 

Total Other Current Assets 

Total Current Assets 

Fixed Assets 

Accumulated Depreciation 

LEASEHOLD IMPROVEMENTS 

HELICOPTER 

FIXED ASSETS 

Total Fixed Assets 

Other Assets 

Income Tax Receivable - Federal 

Income Tax Receivable - Hawaii 

Deposits 

LOAN TO G. RICHARD SCHUMAN 

GOODWILL 

Accumulated Amortization 

Loan Fees 

Accumulated Amortiz - Loan Fees 

Total Other Assets 

TOTAL ASSETS 

LIABILITIES & EQUITY 

Liabilities 

Current Liabilities 

Accounts Payable 

ACCOUNTS PAYABLE 

ACCOUNTS PAYABLE - T/R 

Total Accounts Payable 

Other Current Liabilities 

Interest Payable 

CURRENT PORTION LTD 

Accrued Liabilities 

PAYROLL LIABILITIES 

SALES TAX PAYABLE 

Total Other Current Liabilities 

52,013.49 

52,172.20 

104,185.69 

115,726.16 

-22,309.92 

93,416.24 

7,122.94 

-721.50 

-100.00 

40.00 

6,341.44 

203,943.37 

-2,090,656.07 

96,675.27 

2,177,931.19 

703,067.05 

887,017.44 

5,381.00 

14,284.00 

102,500.00 

34,851.64 

280,192.00 

-192,648.00 

5,000.00 

-83.00 

249,477.64 

1,340,438.45 

47,722.53 

80,941.84 

128,664.37 

6,581.05 

127,000.00 

5,000.00 

43,462.95 

-771.30 

181,272.70 

Total Current Liabilities 309,937.07 

Pagel 
6:32 PM Makan i Kai Helicopter s 

12/08/09 Balance Sheet 

k Accrual Basis As of December 31 , 2008 

Dec 31, 08 

Long Term Liabilities 

Pacific Rim Bank - 30000009 794,905.67 

LOAN FROM G. RICHARD SCHUMAN 45,122.10 

NOTE PAYABLE - PRE #22000050 28,676.53 

NOTE PAYABLE - PACIFIC RIM BANK 829,139.95 

Note Payable - BOH #2466 4,459.07 

Note Payable - BOH #2357 26,019.52 

Note Payable - BOH #2281 23,214.17 

NOTE PAYABLE - SBA 21,818.68 

LESS CURRENT PORTION LTD -127,000.00 

NOTE PAYABLE 866,921.11 

Total Long Term Liabilities 2,513,276.80 

Total Liabilities 2,823,213.87 

Equity 

Capital Stock 20,000.00 

RETAINED EARNINGS -151,988.49 

OPENING BAL EQUITY -1,682,417 04 

Net Income 331,630.11 

Total Equity -1,482,775.42 

TOTAL LIABILITIES & EQUITY 1,340,438.45 

Page 2 
6:28 PM Makan i Kai Helicopter s 

12/08/09 Profit & Loss 

Accrual Basis January through December 2006 

Jan - Dec 06 

Ordinary Income/Expense 

Income 

HELICOPTER OPS. 1,946,666.45 

GEN. EXCISE TAX 1,813.42 

Gift Shop Income 19,030.40 

MISC. SALE 24,949.29 

Total Income 1,992,459.56 

Cost of Goods Sold 

Cost of Goods Sold 18.50 

Total COGS 18.50 

Gross Profit 1,992,441.06 

Expense 

TAXES 2,432.49 

OFFICE SUPPLIES 28,887.00 

AMORTIZATION EXPENSE 22,847.00 

UTILITIES 7,716.39 

TRAVEL &ENT 12,689.90 

TELEPHONE 18,843.76 

Repairs 12,044.72 

RENT 81,803.40 

PROFESSIONAL FEES 53,212.37 

Printing and Reproduction 11,734.51 

LICENSES AND PERMITS 1,000.00 

INTEREST EXPENSE 33,530.97 

INSURANCE 57,573.30 

EQUIPMENT RENTAL 1,896.17 

DEPRECIATION EXPENSE 165,624.00 

BANK SERVICE CHARGES 14,198.13 

AUTOMOBILE EXPENSE 46,672.17 

ADVERTISING 80,869.22 

HELICOPTER COST 696,117.90 

DRUG TESTING PROGRAM 471.00 

FEES & PENALITIES 1,143.92 

PAYROLL EXPENSES 482,707.00 

PROFESSIONAL DEVELOPEME... 7,595.36 

SUB-CONTRACTING FLIGHTS 15,581.89 

TOUR OPS 15,917.03 

Total Expense 1,873,109.60 

Net Ordinary Income 119,331.46 

Other Income/Expense 

Other Income 

INTEREST INCOME 304.73 

Total Other Income 304.73 

Other Expense 

OTHER EXPENSES 1,493.83 

Total Other Expense 1,493.83 

Net Other Income -1,189.10 

Net Income 118,142.36 

Pagel 
6:30 PM Makani Kai Helicopters 

12/08/09 Profit & Loss 

. Accrual Basis January through December 2007 

Jan - Dec 07 

Ordinary Income/Expense 

Income 

Uncategorized Income 

HELICOPTER OPS. 

GEN. EXCISE TAX 

Gift Shop Income 

MISC. SALE 

Total Income 

Gross Profit 

Expense 

BAD DEBTS 

TAXES 

OFFICE SUPPLIES 

AMORTIZATION EXPENSE 

UTILITIES 

TRAVEL & ENT 

TELEPHONE 

Repairs 

RENT 

PROFESSIONAL FEES 

Printing and Reproduction 

INTEREST EXPENSE 

INSURANCE 

EQUIPMENT RENTAL 

DEPRECIATION EXPENSE 

BANK SERVICE CHARGES 

AUTOMOBILE EXPENSE 

ADVERTISING 

HELICOPTER COST 

DRUG TESTING PROGRAM 

FEES & PENALITIES 

PAYROLL EXPENSES 

PROFESSIONAL DEVELOPEME... 

SUB-CONTRACTING FLIGHTS 

TOUR OPS 

Total Expense 

39.89 

2,314,095.02 

884.04 

11,207.44 

17,201.58 

2,343,427.97 

2,343,427.97 

1,999.34 

956.36 

26,407.30 

15,428.00 

8,008.47 

29,229.18 

20,315.82 

3,208.59 

80,364.00 

123,330.81 

16,740.01 

57,619.68 

58,523.10 

2,538.19 

222,225.00 

14,149.29 

52,695.82 

75,808.77 

1,025,947.67 

457.00 

4,840.77 

563,131.92 

1,417.47 

3,034.23 

23,126.26 

2,431,503.04 

Net Ordinary Income -88,075.07 

Other Income/Expense 

Other Income 

INTEREST INCOME 2,384.73 

Total Other Income 2,384.73 

Other Expense 

OTHER EXPENSES 1,125.49 

Total Other Expense 1,125.49 

Net Other \ncome 1,259.24 

Net Income -86,815.83 

Pagel 
6:31 PM Makan i Kai Helicopter s 

12/08/09 Profit & Loss 

^Accrual Basis January through December 2008 

Jan - Dec 08 

ary Income/Expense 

Income 

HELICOPTER OPS. 

Gift Shop Income 

MISC. SALE 

Total Income 

OSS Profit 

Expense 

BAD DEBTS 

TAXES 

Professional Development 

OFFICE SUPPLIES 

UTILITIES 

TRAVEL &ENT 

TELEPHONE 

Repairs 

RENT 

PROFESSIONAL FEES 

Printing and Reproduction 

LICENSES AND PERMITS 

INTEREST EXPENSE 

INSURANCE 

EQUIPMENT RENTAL 

BANK SERVICE CHARGES 

AUTOMOBILE EXPENSE 

ADVERTISING 

HELICOPTER COST 

DRUG TESTING PROGRAM 

FEES & PENALITIES 

PAYROLL EXPENSES 

PROFESSIONAL DEVELOPEME... 

SUB-CONTRACTING FLIGHTS 

TOUR OPS 

Total Expense 

2,647,663.73 

7,154.18 

6,279.20 

2,661,097.11 

2,661,097.11 

318.40 

29,900.16 

100.00 

46,752.98 

24,587.79 

23,209.71 

19,342.61 

21,998.78 

30,058.98 

74,575,72 

15,232.44 

515.00 

151,689.75 

86,095.70 

2,839.92 

36,464.48 

64,951.37 

86,081.33 

909,991.00 

502.00 

4,863.04 

640,044.02 

21,456.11 

19,195.15 

18,366.28 

2,329,132.72 

Net Ordinary Income 331,964.39 

Other Income/Expense 

Other Income 

INTEREST INCOME 1,281.40 

Total Other Income 1,281.40 

Other Expense 

OTHER EXPENSES 1,615.68 

Total Other Expense 1,615.68 

Net Other Income -334.28 

Net Income 331,630.11 

Page 1 
ISLAND AIR PRINCEVILLE 

B Cheiftain PA31 

^ ^ 

First Years Sales 

1 Hours 

Monthly Sales 

Hours 

Weekly Sales 

1 Hours 

1 Daily Sales 

j Hours 

1 Dollar per liour 

Total Sales 

\Est cost Direct 

p*etO'pe;sttirfCost 

p$rls&i.abor$125.gb 

ber.PiigHt'Mom' • . • 

pperatmijCosfpther -

$40.00 . - ' • 

iFuel burn 50 gals per hr 

Price per gallon 

iFuel cost per hour 

InsMf^ga-^llbllit^:;.,- •? 

teWKe- huiifi.v-'^:-.. '••:•: 

$ 300,000.00 

^mm^^ m 

Billable Hours 

$0.00 

0 

$0.00 

0 

$0.00 

0 

$0.00 

0.0 

ft ^^^^^ ^ 

First Year 

$0.00 

$0.00 

$ 150.00 

$0.00 

$0.00 

50 

$5.50 

$275.00 

$18,000.00 

$12,000.00 

4% 

$48,000.00 

hours per day 

Month 

$0.00 

$0.00 

$0.00 

$0.00 

$1,500.00 

$1,000.00 

$4,000.00 

Cheiftain PA31 

First Years Sales 

Hours 

Monthly Sales 

1 Hours 

Weekly Sales 

1 Hours 

Daily Sales 

1 Hours 

1 Dollar per hour 

1 Total Sales 

est cost D/rect 

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^raflnaeostDtttwd 

teen'WR'SartsSt tabor' 

JFuel burn 50 gals per hr 

Price per gallon 

Fuel cost per hour 

IflSuraiiiGallility " '• s' 

miu^Mi^M.:,-smmi'< 

$300,000 

{Aircraft Purchase/L^^se 

Billable Hours 

$1,774,500.00 

2730 

$147,875.00 

228 

$34,125.00 

53 

$4,875.00 

7.5 

m "m^ 

First Year 

$1,774,500.00 

$1,774,500.00 

$ 150.00 

$409,500.00 

$750,750.00 

50 

$5.50 

$275.00 

$18,000.00 

$12,000.00 

4% 

$48,000.00 

hours per day 

Month 

$147,875.00 

$147,875.00 

$34,125.00 

$62,562.50 

$1,500.00 

$1,000.00 

$4,000.00 

Direct Operationg Cost Is not really a monthily expence. It is a dollar 

amount per flight hour flown that the operator should expect to spend 

for repairs, parts and labor in the future, as connponents need to be 

changed. 

Openst!^0[.Cost otftar theif.' 

Combined Aircraft 

First Years Sales 

Hours 

Monthly Sales 

Hours 

Weekly Sales 

Hours 

Daily Sales 

Hours 

$1.774,500.00 

2,730 

$147,875.00 

228 

$34,125.00 

53 

$4,875.00 

7.5 hours per day 

SALES INCOME 

Charge 

Total Sales 

EXPENSES- Wages 

Salary- Office 

Salary- Pilots $50 

Sales Consultant fee 

Wages - Transportation 

Total 

EXPENSES -SEMI FIXED 

Dlriwst; Operating C<M Pacta 

s tabor '•'.' . 

Vehicle 

Electric 

Phone 

Travel @ Training 

Outer Island Travel 

Taxes 

Insurance - medical 

Insurance - Vehical 

instif ^ * Miiigagter1il?ilj^^^ 

iftfeigd^'haisS 

Membership @ Dues 

Publications 

Equipment leases 

Bank Loan Payment 

Office supplies 

Shop Supplies 

Auditing 

Postage @ Freight 

Landing Fees 

Advertising 

Catering 

Total 

EXPENSES -FIXED 

Rent 

Hanger 

Total 

TOTAL EXPENSES 

INCOME from OPERATION 

First Year 

$1,774,500.00 

$1,774,500.00 

$12,000.00 

$136,500.00 

$0.00 

$0.00 

$148,500.00 

$409,500.00 

$750,750.00 

$0.00 

$0.00 

$0.00 

$0.00 

$0.00 

$0.00 

$18,000.00 

$0.00 

$36,000.00 

$24,000.00 

$1,500.00 

$1,000.00 

$0.00 

$0.00 

$0.00 

$6,000.00 

$1,200.00 

$3,000.00 

$600.00 

$6,000.00 

$0.00 

$0.00 

$1,353,550.00 

$30,000.00 

$30,000.00 

$60,000.00 

$1,562,050.00 

$212,450.00 

Month 

$147,875.00 

$147,875.00 

$1,000.00 

$11,375.00 

$0.00 

$0.00 

$12,375.00 

$34,125.00 

$62,562.50 

$0.00 

$0.00 

$0.00 

$0.00 

$0.00 

$0.00 

$1,500.00 

$0.00 

$3,000.00 

$2,000.00 

$125.00 

$83.33 

$0.00 

$0.00 

$0.00 

$500.00 

$100.00 

$250,00 

$50.00 

$500.00 

$0.00 

$0.00 

$112,795.83 

$2,500.00 

$2,500.00 

$5,000.00 

$130,170.83 

$17,704.17 
Form 1120 

Department of the Treasury 

Internal ftevenue Service 

beginning 

U/ Corporation Income Tax Re rn 

For calendar year 2006 or tax year 

, ending 

EXTENSION GRANTED TO 09/17/07 

OMB No. 1545-0123 

A Check if: 

1 Consolidated retum I I 

(attach Form 851) 

2 Personal holding co. | | 

(attach Sch, PHf r 1 

3 Personal service corp.l I 

(see Instructions) 

4 Schedule M-3 required 

(attach Sch. M-3) | | 

Use 

IRS 

label. 

Otherwise, 

print 

or type. 

NameSCHUMAN AVIATIO N 

DBA MAKANI KAI HELICOPTERS 

Number, street, and room or suite no. If a P.O. box, see Instructions. 

110 KAPALULU PLACE 

City or town, state, and ZIP code 

HONOLULU, H I 96819 

E Checklf: (DE H Initial return (2)[ZI I Final retum (3) FT I Name change (4)[I I I Aiiriress change 

B Employer Identification numt>er 

99-0330001 

C Date incorporated 

09/01/1996 

D Total (see Instructions) 

543,390 . 

« 

E 

o 

o 

1 a Gross receipts or sales Xy""ify4DU « b Less returns and attowances 

2 Cost of goods sold (Schedule A, line 8) 

3 Gross profit. Subtract line 2 from line l c 

4 Dividends (Schedule C, line 19) 

5 Interest 

6 

7 

B 

9 

10 

11 

c Bal • 

Gross rents 

Gross royalties 

Capital gain net income (attach Schedule D (Form 1120)) 

Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797) 

Other income (attach schedule) ;..SEE..STATEME^^ ^ 

Total Income. Add lines 3 through 10 

1c 

10 

11 

1,992,460 . 

1,992,460. 

305 

5,552 

1,998,317 

o 

•g 

•o 

c 

o 

M J 

CO 

E 

m 

0) 

o s. 

10 

c 

o 

••5 

3 

•V 

» 

D 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

29 

Compensation of officers (Schedule E, line 4) 

Salaries and wages (less employment credits) 

Repairs and maintenance 

Bad debts 

Rents 

Taxes and Iteenses SEE... STATEMENT...2. . 

Interest 

Charitable contributions 

Depreciation from Form 4562 not claimed on Schedule A or elsewhere on retum (attach Form 4562) 

Depletion 

Advertising 

Pension, profit-sharing, etc., plans 

Employee benefit programs 

Domestic production activities deduction (attach Form 8903) 

Other deductions (attach schedule) S.E.E....S.T.ATE.ME.NT....3. 

Total deductions. Add lines 12 through 26 

Taxable income before net operating loss deduction and special deductions. Subtract line 27 from line 11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

Less: a Net operating loss deduction STATEMENT.. . 4 . 

b Special deductions (Schedule C, line 20) 

29a 

29b 

127,412 

21 

22 

23 

24 

25 

26 

27 

28 

29c 

130,000 

353,636 

12,045 . 

81,80 3 

4,170, 

33,53 1 

165,624 

80,869 

29,233 , 

979,994 

1,870,905 

127,412 

127,412 

c 

ID 

a. 

•o 

c 

ID 

X 

32a 

30 Taxable Income. Subtract line 29c from line 28 (see instructions) 

31 Total tax (Schedule J, line 10) ..... 

32 a 2005 overpayment credited to 2006 

b 2006 estimated tax payments 

c 2006 refund applied for on Form 4466 

e Tax deposited with Form 7004 

f Credits: {1) Form 2439 

30 

31 

32b 

32c dBal >• 

(2) Form 4136 . 

32d 

32e 

32f 

321 

5,000 

g Credit for federal telephone excise tax paid (attach Form 8913) 

33 Estimated tax penalty (see instructions). Check If Fomi 2220 is attached 

34 Amount owed, if line 32h is smaller than the total of lines 31 and 33, enter amount owed 

35 Overpayment. ;if line 32h is larger than thetotal of lines 31 and 33, enter amount overpaid 

36 Enter amount from line 35 you want: Credited to 2007 estimated tax • 5,38 1 

381 . 32h 

• • 

34 

35 

Refunded 36 

0 . 

5,381 . 

0 . 

5,381 . 

Sig n 

Her e 

Under penalties of perjury, I dedaie that I have examined this retum. Including accompanying schedules and statements, and to the best of my knowledge and belief, it Is true, 

corrsct, and complete. Declaration of preparer (other than taxpayer) is based on all Information of which preparer has any knowledge. 

'signature of officer Date "^ Title 

Mpy the.lRSdIscuss this 

WnW?""'"" ^ 

[ g ] Yes n Mo 

kPald 

Preparer's 

^Use Only 

Preparer's 

signature 

Check If 

self-employed I I 

Fim,sn.me TARYN R. SCHUMAN, CPA, INC 

!Srrpioyed),!kp.O. BOX 4409 

ap'Sgi""' ^HONOLULU, HI 96812-4409 

Preparer'SSSN or PTIN 

P00360965 

EIN 99 10338688 

Phoneno. 808-524-741 1 

oro2°o7 ^^ ^ For Privacy/Paperwork Reduction Act Notice, see instructions. 1 Form 1120 (2006) 

1650072 7 79706 0 SCHUMANAVIA T 2006.0507 0 SCHUMA N AVIATIO N DB A MAKAN I SCHUMAO l 
Form 1120(2006) SCHUMAN AVIATIOlv DBA MAKANI KAI HELICOPT 99-033000 1 PaQe2 

Cos t o f Good s Sol d (see instmctions) 

1 

2 

3 

4 

5 

6 

7 

8 

9a 

inventory at beginning of year 

Purchases 

Cost of labor 

Additional section 263A costs (attach schedule) 

Othercosts (attach schedule) 

Total. Add lines 1 through 5 

Inventory at end of year 

Costiof goods sold. Subtract line 7 from line 6. Enter here and on page 1, line 2 

Check all methods used for valuing closing inventory: 

(i) • Cost 

(ii) I I Lower of cost or market 

(ill) C ] Other (Specify method used and attach explanation.) • 

Check ifthere was a writedown of subnormal goods 

1 

2 

3 

4 

5 

6 

7 

8 

Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) .. 

If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of 

closing inventory computed under LIFO 

If property is produced or acquired for resale, do the rules of section 263A apply to the corporation? 

Was there any change in determining quantities, cost, or valuations between opening and closing inventory? 

If'Yes,'attach explanation 

• • 

9d 

• Yes • No 

• Yes [TlNn 

Dividends and Special Deductions (see instmctions) (a) Dividends 

received (b)% 

(c) Special deductions 

(a)x(b) 

1 Dividends from less-than-20%-owned domestic corporations (other than 

debt-financed stock) 

2 Dividends from 20%^or-more-owned domestic corporations (other than debt-financed 

stock) : 

3 Dividends on debt-nnancad stock of domestic and fbreigncorpomtlons 

4 Dividends on certein preferred stock of less-than-20M-owned public utilities 

5 Dividendson certain preferred stock of 20%-or-nfX3re-owned public utilities 

6 Dividends from lees-than-20H-owned foreign corporations and certain FSCs 

7 Dividends from 20f(-or'moie-owned fbielgn corporations and certain FSCs 

8 Dividends from wholly owned foreign subsidiaries 

9 Total. Add lines 1 through 8 

10 Dividends from domestic corporations received by a small business investment 

company operating under the Small Business Investment Act of 1958 

11 Dividends from afflllated group members 

12 Dividends from certain FSCs 

13 Dividends from foreign corporations not included on lines 3, 6, 7, B, 11, or 12 

14 Income from contn>llad foreign corporations under subpart F (attach Farm(s) 5471) 

15 Foreign dividend gross-up 

16 IC-DISC and tomrier DISC dividends not Included on lines 1,2, or 3 

17 Other dividends 

18 Deduction for dividends paid on certain preferred stock of public utilities 

19 Total dhridends. Addlinesi through 17. Enter here and on pagel, line 4 

70 

80 

Instmcttons 

42 

48 

70 

80 

100 

' ".'.'.'.'•'.^•^•''•'??!'?.T.'; 

100 

100 

100 

20 Total saecial deductions. Add lines 9.10.11,12. and 18. Enter here and on page 1, line 29b 

ScH0t|^€l Compensation of Officers ^"gg^girs'gLSdTe'ionfv 12) 

!otal receipts (line l a plus lines 4 through 10 en page 1) are$500,000or nwre. 

(a) Name of officer (b) Social security 

number 

(c) Percent of 

time devoted 

to business 

Percent of corporation 

stock owned 

(d) Common (e) Preferred 

(f) Amount of 

compensation 

iRICHARD SCHUMAN 576-60-5636 FULL 100.00% 130,000 

2 Total compensation of officers 

' 3 Compensation of officers claimed on Schedule A and elsewhere on retum 

4 Subtract line 3 from line 2. Enter the result here and on page 1. line 12 . 

130,000, 

130,000 

611611 nfl,. 

01-02-07 J" " Form 1120 (2006) 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Fomi 1120 (2006) SC HUMAN AVI AT lU, DBA MAKANI KAI HELICOPT 99-0330001 Page 3 

T a x Computatio n (see instructions) 

1 

2 

3 

4 

5a 

b 

c 

d 

e 

6 

7 

10 

Check if the corporation Is a member of a controlled group (attach Schedule 0 (Form 1120)) 

Income tax. Check if a qualified personal service corporation 

(see instructions) 

Altemative minimum tax (attach Fomi 4626) 

Add lines 2 and 3 

• • 

• • 

• Form 3800 

• Form 8844 

Foreign tax credit (attach Form 1118) 

Qualified electric vehicle credit i(attach Form 8834) 

General business credit. Checl< applicable box(es): 

n 3 Form 6478 [H I Form 8835, Section B 

Credit for prior year minimum tax (attach Form 8827) 

Bond credits from: CZI Form 8860 CZI Form 8912 

Total credits. Add lines 5a through 5e 

Subtract line 6 from line 4 ....; 

Personal holding company taxi(attach Schedule Phi (Form 1120)) .. 

Othertaxes. Check if from: [ZD Form 4255 CZ] Form 8611 

• Form 8866 •Fomi890 2 

Total tax. Add lines 7 through 9. Enter here and on page 1. line 31 ... 

5a 

5b 

5e 

6d 

5e 

• Forni 8697 

EZ] Other (attach schedule) 

4 

18_ 

0 . 

Is 

No 

Other Inf bmnation (see instmctions) 

1 Check accounting method: 

c • ! Other (specify) • 

2 See the instructions and enter the: 

a Business activity code no. ^48700 0 

b Business activity 

I I Cash b I X I Accmal 

• HELICOPTE R TOUR 

C Product or service • ENTERTAINMEN T 

At the end of the tax year, did the corporation own, directly or 

indirectly, 50% or more of the voting stock of a domestic 

corporation? (For rules of attribution, see section 267(c).) 

If 'Yes.'attach a schedule showing: (a) name and 

employer identification number (EIN), (b) percentage owned, 

and (c) taxable income or (loss) before NOL and special 

deductions of such corporation for the tax year ending with or 

within your tax year. 

Is the corporation a subsidiary in ian affiliated group or a 

parent-subsidiaiy controlled group? 

If "Yes,* enter name and EIN ofthe parent corporation • 

At the end of the tax year, did any individual, partnership, 

corporation, estate, or trust own, directly or indirectly, 

50% or more ofthe corporation's votindstock? (For rules 

of attribution, see section 267(c).) S.T.AT.B.MENT ...5 

If "Yes,* attach a schedule showing name and identifying 

number. (Do not include any information already entered 

in 4 above.) Enter percentage owned • 10 0 . 0 0 

During this tax year, did the corporation pay dividends (other 

than stock dh/idends and distributions in exchange for stock) 

in excess ofthe corporation's current and accumulated 

earnings and profits?:(See sections 301 and 316.) 

If 'Yes," file Form 5452, Corporate Report of 

Nondividend Distributions. 

If this isa consolidated return, answer here for the parent 

corporation and on Form 851, Affiliations Schedule, for 

each subsidiary. 

Yes 

• 

X 

' 

No 

X 

X 

•. 

X 

' 

At any time during the tax year, did one foreign person 

own, directly or indirectly, at least 25% of (a) the total 

voting power of all classes of stock of the corporation 

entitled to vote or (b) the total value of all classes of stock 

ofthe corporation? 

If 'Yes," enter: (a) Percentage owned • 

and (b) Owner's country • 

c The corporation may have to file Form 5472, Infomnation 

Retum of a 25% Foreign-Owned U.S. Corporation or a 

Foreign Corporation Engaged in a U.S. Trade or Business. 

Enter number of Forms 5472 attached • 

8 Check this box if the corporation Issued publicly offered 

debt instruments with original issue discount • 

if checked, the corporation may have to file Form 8261, 

Information Return for Publicly Offered Original issue 

Discount Instruments. 

Enter the amount of tax-exempt interest received or 

accrued during the tax year • $ ^_ _ 

• 

10 Enter the number of shareholders at the end of the tax 

year (if 100 or fewer) • 1 _ 

11 If the corporation has an NOL for the tax year and is 

eiectinig to forego the carryback period, check here ... • I' I 

If the corporation is filing a consolidated retum, the statement 

required by Temporary Regulations section 1.1502-21T(b)(3) 

must be attached or the election will not be valid. 

12 Enter the available NOL carryover from prior tax years 

(Do not reduce it by any deduction on line 

29a.) • $ 149,291 . 

13 Are the corporation's total receipts (line 1a plus lines 4 through 

10 on page 1) for the tax year and its totalassets at the end ofthe 

tax year less than $250,000? 

If "Yes," the corporation is not required to complete Schedules L, 

M-1, and M-2 on page 4. Instead, enter the total amount of cash 

distributions and the book value of property distributions (other 

than cash) made during the tax year, w- $ 

Yes 

X 

Note: if the corporation, at any time during the tax year, had assets or operated a business in a foreign country or U.S. possession, it may be required 

to attach Schedule N (Form 1120), Foreign Operations of U.S. Corporations, to this retum. See Schedule N for details. 

JWA Form 11 M (2006) 

611621 

12-29-06 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Fomi,1120 (2006) SCHUMA N AVIATI' " " DB A MAKAN I 

liS^Jiiililiil i Balance Sheelts per Books 

Assets 

1 Cash 

2a Trade notes and accounts receivable 

b Less allowance for bad debts 

3 Inventories 

4 U.S. govemment obligations 

5 Tax-exempt securities 

6 Ottiercunent assets (att sch.) STM T .. .6... . 

7 Loans to shareholders 

6 Mortgage and real estate loans 

9 other Investments (attach.) 

10a Buildings and Other depreciable assets 

b Less accumulated depreciation 

1la Depietable assets 

b Less accumulated depletion 

12 Land (net of any amortization) 

13a Intangible assets (amortizable only) 

b Less accumulated amortization 

14 Other assets (att. sch.) ... . 

15 Totalassets 

Liabilities and Shareholders' Equity 

16 Accounts payable 

17 Mortgages, notes, bonds payable in less than 1 year 

18 Othercunent liabilities (att sch.) S.T.M.T...7;.. . 

19 Loans from Shareholders 

20 Mortgages, notes, bonds payable In 1 year or more 

21 Other liabilities (att. sch.) 

22 Capital stock: a Preferred stock 

b Common stock 

23 Additional paid-in capital 

k . . Retained eamings -

1 24 Appropriated (attach schedule) 

25 Retained eamings - Unappropriated 

_ . Adjustments to shareholders' 

ZO equity (attach schedule) 

27 Less cost of treasury stock 

28 Total liabilities and shareholders' equity 

SchdilUil#lMr^1 1 Reconciliation o 

K AI HELICOPT 

Beginning of tax year 

l»l 

109,402 . 

f ) 

1,772,739 . 

r 1,702,8074 

f \ 

280,192 . 

( 154,456^ 

20,000 . 

, ^ 

Income (Loss) per 

(b) 

67,617 . 

109,402 . 

7,259 . 

34,852 . 

''•""•"""TM't^9j'932^^ 

iii^iiiiiiilii 

•••'••" 'vm-TTi . II . T-1 rr125)736'. 

414^798. 

80,711 . 

101,000 . 

23,231 . 

378,398 . 

'••'"•TM"'"""" ^ 

<188,542 . 

( 1 

414,798 . 

Books With Income 

99-033000 1 Page 4 

End of tax year 

(0 

'*"TM""lLTiTi9n 

1 ) 

2,038,652 . 

( 1,868,4314 

i > 

280,192 . 

( 177,3034 

5 

20,000 . 

> , -

per Retum 

(d) 

96,645 . 

, 

111,391 . 

27,392 . 

34,852 . 

iil^liiiiiiiiiliiiii i 

170,221 . 

iiiii^iiiiiiiiil i 

iiiiiiiiiiiisiii i 

102,889 . 

543,390 . 

63,212 . 

88,000 . 

37,944 . 

400,347 . 

20,000 . 

<66,113. > 

( \ 

543,390 . 

Note: Schedule iVl-3 required instead of Schedule M-1 if total assets are $10 million or more - see instructions 

1 Net income (loss) per books .: 

2 Federal income tax per books 

3 Excess of capital losses over capital gains 

4 Income subject to tax not recorded oh books this year 

(itemize): 

5 Expenses recorded on books this year not 

deducted on this return (itemize): 

a Depreciation $ 

. Charitable . 

b contributions * 

, Travel and » 9 0 fi Q 

STMT 8 2,914 . 

6 Add lines 1 throuflh 5 

ii^^iiH^iSl i Analysis of UnaoD 

1 Balance at beginning of year 

2 Net income (loss) per books 

3 Other increases (itemize): 

k 1 

4 Add lines 1.2. and 3 

122,429 . 

' 

4,983 . 

127,412 . 

rooriated Retained 

<188,542 . 

122,429 . 

-

<66,113 . 

7 Income recorded on books this year not 

included on this return (itemize): 

Tax-exempt interest $ 

8 Deductions on this retum not charged 

against book income this year (itemize): 

a Depreciation $ 

h Charitable >, 

0 mntHhiiHnn . » 

9 Add lines 7 and 8 

10 Income (page 1, line 28) - line 6 less line 9 

' K ' 

^ 

; 1 ^ 

127,412 . 

Earnings per Books (Line 25. Schedule L) 

>5 Distributions: a Cash 

b Stock 

c Property 

6 Other decreases (itemize): 

7 Add lines 5 and 6 

>8 Balance at end of vear (line 4 less line 7) <66,113.> 

611631 JWA Form 1120 (2006) 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Fonn 4562 

Department of ttie Treasury 

Internal Revenue Sanrlce 

Depreciation and Amortization 

(Including Information on Listed Property) OTHER 

• See separate Instructions. • Attach to your tax return. 

OMB No. 1S45-0172 

Attadimant 

Sequence Mo. 6 7 

Name(s) shown on retum 

SCHUMAN AVIATION 

'DBA MAKANI KAI HELICOPTERS 

Business or activity to which this form relates 

OTHER DEPRECIATION 

identifying number 

99-0330001 

i^^^l ^ Election To Expense Certain Property Under Section 179 Note: If you have any listed pmperty, complete Part t/before you compl&te Parti. 

1 Maximum amount. See the instructions for a tiigtier limit for certain businesses 

2 Total cost of section 179 property placed in service (see instructions) 

3 Threstiold cost of section 179 property liefore reduction in limitation 

4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter-0-

5 Dollar limitation for tax year. Subtract line 4 from line 1. If lero or less, enter -0-. If manled lillng separatelyi see Instructions 

1 

4 

5 

108,000 

262,571 

430,000 

108,000, 

6 (a) Description of property 

OPERATING EQUIPMENT 

SPHERE STOP 

(b) Cost (business use only) 

102,280 . 

23,060 , 

7 Listed property. Enter the amount from line 29 I 7 

8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 

9 Tentative deduction. Enter the smaller of line 5 or line 8 

10 Carryover of disallowed deduction from line 13 of your 2005 Form 4562 

(c) Elected cost 

102,280 

5,720 

11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 

12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 

13 Carryover of disaliov/ed deduction to 2007. Add lines 9 and 10. less line 12 • 13 

108,000 , 

108,000 

10 

11 108,000 

12 108,000, 

Note; Do not use Part II or Part III below for listed property. Instead, use Part V. 

Special Depreciation Allowance and Other Depreciation (Do not include listed property.) 

14 Special allowance for qualified New Yoric Liberty or Gulf Opportunity Zone property (other than listed property) 

placed in service during the tax year 

15 Property subject to section 168(f)(1) election 

16 other depreciation (Including ACRS) 

14 

15 

16 

MACRS Depreciation (Do not include listed property.) (See instructions.) 

Section A 

17 MACRS deductions for assets placed in service in tax years beginning before 2006 17 

1 8 If you are electing to group any assets placed in service during the tax year Into one or more general asset accounts, check here ^ | | liP^^^^gijiBJiaJs^^^i^i^^jS^li : 

24,970 . 

Section B - Assets Placed in Service During 2006 Tax Year Using the General Depreciation System 

(a) Classification of propsrty 

19a 3^year property 

b 5-year property 

c 7-year property 

d 10-year property 

e 15-year property 

f 20-year property 

g 25-year property 

h Residential rental property 

1 Nonresidential real property 

(b) IMonth and 

year placed 

in sendee 

^.. / ^ •• y 

1 

1 

02/06 

/ 

(c) Basis tor dspredatlan 

only - see instmctions) 

154,571 . 

3,341 . 

<d) Recovery 

period 

5.0 

25yrs. 

27.5 yrs. 

27.5 yrs. 

39 yrs. 

(e) Convention 

HY 

MM 

MM 

MM 

MM 

(1) IVIethod 

200DB 

S/L 

S/L 

S/L 

S/L 

S/L 

(g) Depreciation deduction 

30,914 . 

7 5. 

Section C - Assets Placed in Service During 2006 Tax Year Using the Alternative Depreciation System 

20a Class life 

b 12-year 

c 40-year Hill 

/ 

12 yrs. 

40 yrs. MM 

S/L 

S/L 

S/L 

j^^iiilli ^ Summary (see instmctions) 

21 Listed property. Enter amount from line 

22 Total. Add amounts from line 12, lines 1 

I Enter here and on the appropriate lines < 

^ 3 For assets shown above and placed in s 

portion of the basis attributable to sectic 

28 

4 through 17, lines 19 and 20 in column (g), and line 21. 

3f your retum. Partnershios and S corporations • see instr 

ervice during th 

>n263A costs.. 

9 current year, enter the 

23 

21 

22 

1,665. 

165,624 . 

^ i ^ ^ 

10^7-06 LHA For Paperworic Reduction Act Notice, see separate instructions. Forni 4562 (2006) 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Form 4562 (2006) SCHUMAlv AVIATION DBA MAKANI KAI HL^-ICOPT 99-033000 1 Page 2 

Listed Property (include automobiles, certain other vehicles, cellular telephones, certain computers, and property used for entertainment, 

recreation, or amusement.) 

Note: For any vehlde for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 24b, columns (^ 

through (c) of Section A all of Section B, and Section C If applicable. 

Section A - Depreciation and Other Infonmation (Caution: See the instructions for limits for passenger automobiles.) 

24a Do you have evidence to support the business/investment use claimed? 1 X 1 Yes I I No 

(a) 

Type of property 

(list vehicles first) 

(b) 

Date 

placed In 

service 

(e) 

Business/ 

investment 

use percentage 

(cD 

Cost or 

other basis 

(e) 

Basis for depredation 

(buslnees/lnvestment 

use only) 

24b If "Yes." is the evidence written? ) L Yes Z ] No 

m 

Recovery 

period 

(g) 

Method/ 

Convention 

25 Special allowance for qualified New York Liberty or Gulf Opportunity Zone property placed in service during the tax year 

and used more than 50% in a qualified business use 25 

(h) 

Depreciation 

deduction 

(0 

Elected 

section 179 

cost 

, ' 

26 Property used more than 50% In a qualified business use: 

% 

SEE STATEMENT: 1,665 . 

% 

27 Property used 50% or less in a qualified business use: 

% 

% 

% 

S/LS/LS/L28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 

29 Add amounts in column (1), line 26. E nter here and oi 1 line 7, page 1 .. 

28 1,665. 

29 

' 

,' ^ 

I ' 

^ •. ^ f 

Section B - Information on Use of Vehicles 

Complete this section for vehicles used by a sole proprietor, partner, or other'more thetn 5% owner,* or related person. 

If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for 

those vehicles. 

30 Total business/investment miles driven during the 

year (do not include commuting miles) 

31 Total commuting miles driven during the year ... 

32 Total other personal (noncommuting) miles 

^ ^ driven 

^^3 3 Total miles driven during the year. 

^ ^ Add lines 30 through 32 

34 Was the vehicle available for personal use 

during off-duty hours? 

35 Was the vehicle used primarily by a more 

than 5% owner or related person? 

36 is another vehicle available fbr personal 

use? 

(a) 

Vehicle 

Yes No 

(b) 

Vehicle 

Yes No 

(c) 

Vehicle 

Yes No 

(d) 

Vehicle 

Yes No 

(e) 

Vehicle 

Yes No 

Vehicle 

Yes No 

Section C - Questions for Employers Who Provide Vehicles for Use by Their Employees 

Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are notmore than 5% 

owners or related persons. 

37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your 

employees? 

38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your 

employees? See the instructions for vehicles used by corporate officers, directors, or 1 % or more owners 

39 Do you treat all use of vehicles by employees as personal use? 

40 Do you provide more than five vehicles to your employees, obtain information from your employees about 

the use ofthe vehicles, and retain the information received? 

41 Do you meet the requirements conceming qualified automobile demonstration use? 

Note: If your answer to 37,38, 39,40, or 41 is "Yes," do not complete Section B for the covered vehicles. 

Yes No 

X 

WWWKrHTTW Amortization 

(a) 

Description of cost s 

(b) 

Ditgamortlzillon 

tugins 

(C) 

Amortizable 

amount 

(d) 

Code 

section 

(e) 

Amortization 

pwlodorpercenlane 

(f) 

Amortization 

for this year 

k 

pi3 Amortization of costs that began before your 2006 tax vea 

44 Total. Add amounts in column (f). See the Inst ructions for 

r 

where to report 

43 

44 

22,847 . 

22,847 . 

616252/10-17-06 Form 4S62 (2006) 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
TM 8827 

Department of the Treasury 

Internal Revenue Sereice 

Creciit for Prior Year Minimum Tax - Corporations 

^ Attach to the corporation's tax return. 

N»TM SCHUMAN AVIATION 

DBA MAKANI KAI HELICOPTERS 

1 Altemative minimum ts 

2 Minimum tax credit ca 

3 Enter the total of any 2 

qualified electric vehici 

4 Add lines 1,2, and 3 

5 Enter the corporation's 

instmctions) 

6 Is the corporation a'sr 

• Yes. Enter 25% of tr 

• No. Complete Form 

7 Subtract line 6 from lin 

8 Minimum tax credit. !E 

lineSdortheappropri 

post-1986 ownership 

9 Minimum tax credit ci 

amount to carrv forwa 

IX (AMT) for 2005. Enter the amount from line 14 of the 2005 Form 4626 

rryfora/ard from 2005. Enter the amount from line 9 of the 2005 Form 8827 

005 unallowed nonconventional source fuel credit and 2005 unallowed 

e credit (see instructions) 

2006 regular income tax liability minus allowable tax credits (see 

nail corporation" exempt from the AMT for 2006 (see instructions)? 

le excess of line 5 over $25,000. If line 5 is $25,000 or less, enter -0-

4626 for 2006 and enter the tentative minimum tax from line 12 

e 5. If zero or less, enter-0-

nter the srhaller of line 4 or line 7 here and on Form 1120, Schedule J, 

ate line ofthe corporation's income tax retum. If the corporation had a 

:hange or has pre-acquisition excess credits, see instmctions 

irryforward to 2007. Subtract line 8 from line 4. Keep a record of this 

rd and usem future years 

OMB No. 1545-1267 

2006 

Employer identification nu mber 

99-0330001 

1 

2 

3 

4 

S 

6 

7 

8 

9 

3,195. 

3,195. 

0 . 

0 . 

0 . 

0 . 

3,195. 

JWA 

6202B1 

01-04-07 

Form 8827 (2006) 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Form 0«IT 0 Credit for Federal Telephone Excise 1 dx Paid 

^ Attach to your income tax return. 

Name(s) as shown on your Income tax return 

SCHUMAN AVIATION 

DBA MAKANI KAI HELICOPTERS 

OMB No. 1545-2051 

2006 

Attachnnent „ 

Sequence No. 63 

Identifying number 

99-0330001 

Enter the federal telephone excise tax billed during each period as listed in column (^ of lines 1-14 below. 

By filing this form, you are certifying that you (1) have not received from your service provider a credit or refund of the tax paid on long distance 

service or bundled service billed after February 28,2003, and before August 1,2006, and (2) will not ask your provider for a credit or refund or have 

withdrawn any request submitted to the provider for a credit or refund. 

Caution. See the instructions for explanations of the services that qualify for a credit or refund of the federal telephone excise tax. 

(a) Bills dated during: 

1 March, April, and 

May 2003 

2 June, July, and 

Auaust 2003 

3 September, October, and 

November 2003 

4 December 2003; January and 

Febnjarv 2004 

5 March, April, and 

May 2004 

6 June, July, and 

Auaust 2004 

7 September, October, and 

November 2004 

i 8 December 2004; January and 

' February 2005 

9 March, April, and 

May 2005 

10 June, July, and 

August 2005 

11 September, October, and 

November 2005 

12 December 2005; January and 

February 2006 

13 March, April, and 

May 2006 

14 June and 

July 2006 

Amount of federal 

bun 

(b) Long distance 

service 

$ 

excise tax on long distance or 

died seivice onlv 

(c) Bundled service 

$ 

15 Add lines 1 -14 in columns (d) and (e) 

16 Total credit or refund requested. Add columns (d) and (e) on line 15. Enter here and on 

Fomi 1040, line 71; Form 1040A, line 42; Form 1040EZ, line 9; Form 1040EZ-T, line la; 

Form 1040NR, line 69; Form 1040NR-EZ, line 21; Form 1120, line 32g; Form 1120-A, 

line 28g; Fomd 1120S, line 23d; Form 1041, line 24f; Fomi 1041-N. line 17; 

Form 1065. line 23; Form 990-T, line 44f; or the proper line of other returns • 

(d) Tax credit or refund 

(add columns (b) and (c)) 

$ 13 . 

1 3 . 

1 3 . 

1 9 . 

2 1 . 

2 1 . 

2 1 . 

3 8 . 

4 6 . 

4 6 . 

4 6 . 

2 6 . 

1 6 . 

1 1 . 

$ 350 . 

(e) Interest 

(see instructions) 

$ 2 . 

2 . 

2 . 

2 . 

2 . 

2 . 

2 . 

4 . 

4 . 

4 . 

3. 

1 . 

1 . 

$: 31 . 

$ 381 . 

LHA For Paperworic Reduction Act Notice, see the instructions. Fomo 8913 (2006) 

612891 

12-09-06 

8 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
, SCHUMAN AVIATION DBA MAK" "I KAI HELICOPT " 99-0330001 

FORM 1120 OTHER INCOME STATEMENT 

m CRIPTION AMOUNT 

HAWAII TAX REFUND - BASED ON INCOME 5,552. 

TOTAL TO FORM 1120, LINE 10 5,552. 

FORM 1120 TAXES AND LICENSES STATEMENT 

DESCRIPTION AMOUNT 

GENERAL EXCISE TAX 2,770. 

LICENSES 1,400. 

TOTAL TO FORM 1120, LINE 17 4,170. 

FORM 1120 OTHER DEDUCTIONS STATEMENT 

DESCRIPTION AMOUNT 

AIRCRAFT OPS COSTS 602,735. 

i|^RTIZATION 22,847. 

BHI K CHARGES 14,198. 

INSURANCE 135,135. 

M^ALS AND ENTERTAINMENT 2,070, 

MISCELLANEOUS 3,861. 

OFFICE SUPPLIES 28,887, 

OUTSIDE SERVICE 29,958, 

PRINTING AND REPRODUCTIONS 11,735, 

PROFESSIONAL DEVELOPMENT 7,595, 

PROFESSIONAL FEES 23,254, 

TELEPHONE 18,844, 

TOUR COSTS 15,936. 

TllAVEL 8,551, 

UTILITIES 7,716, 

VEHICLE EXPENSES 46,672, 

TOTAL TO FORM 1120, LINE 26 979,994 

9 STATEMENT(S) 1, 2, 3 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
. SCHUMAN AVIATION DBA MAK' T KAI HELICOPT 99-0330001 

NET OPERATING LOSS DEDUCTION STATEMENT 

m 

YEAR 

12/31/02 

12/31/04 

LOSS SUSTAINED 

125,122. 

76,305. 

LOSS 

PREVIOUSLY 

APPLIED 

52,136. 

NOL CARRYOVER AVAILABLE THIS YEAR 

LOSS 

REMAINING 

72,986, 

76,305 

149,291 

AVAILABLE 

THIS YEAR 

72,986, 

76,305 

149,291, 

OTHER INFORMATION 50% OR MORE OF VOTING STOCKS OWNED BY STATEMENT 

(A) NAME RICHARD SCHUMAN 

ADDRESS 

IDENTIFYING NUMBER 576-60-5636 

(B) PERCENT OF STOCK 100.00% 

SCHEDULE L OTHER CURRENT ASSETS STATEMENT 

DESCRIPTION 

UNDEPOSITED FUNDS 

q^RATING SUPPLIES 

sBfTE INCOME TAX RECEIVABLE 

TOTAL TO SCHEDULE L, LINE 6 

BEGINNING OF 

TAX YEAR 

6 

7 

939 . 

r320 . 

0 . 

r259 . 

END OF TAX 

YEAR 

1 6 , 

6, 

4 , 

i 27 , 

806 . 

301 . 

285 . 

392 . 

SCHEDULE L OTHER CURRENT LIABILITIES STATEMENT 

DESCRIPTION 

AtCRUED LIABILITIES 

ACCRUED PAYROLL 

TOTAL TO SCHEDULE L, LINE 18 

BEGINNING OF 

TAX YEAR 

11,556. 

11,675. 

23,231. 

END OF TAX 

YEAR 

5,418. 

32,526, 

37,944, 

10 STATEMENTI(S) 4, 5, 6, 7 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
. SCHiJMAN AVIATION DBA MAK' T KAI HELICOPT 99-0330001 

SCHEDULE M-1 OTHER EXPENSES RECORDED ON BOOKS 

NOT DEDUCTED IN THIS RETURN 

STATEMENT 8 

m CRIPTION 

LIFE INSURANCE 

PENALTIES 

TOTAL TO SCHEDULE M-1, LINE 5 

AMOUNT 

2,170. 

744. 

2,914. 

FORM 4562 TOTALS LISTED PROPERTY INFORMATION-MORE THAN 50% STATEMENT 9 

(A) (B) (C) 

DESCRIPTION DATE BUS. % 

(D) (E) (F) (G) (H) (I) 179 

COST BASIS LIFE MTH/CV DEDUCTION ELECTED 

(K) (L) (M) (N) (0) (P) (Q) 

TOTAL BUSINESS COMMUTING PERSONAL WAS VEH. > 5% ANOTHER VEH. 

MILES MILES MILES MILES AVAIL.? OWNER? AVAILABLE? 

Y N Y N Y N 

1995 FORD 10/15/96 

VAN 

COMPUTER & 10/01/96 

ITWARE 

2004 SUBARU 01/01/05 

10,000. 10,000. 5 200DBMQ 

5,000. 5,000. 5 200DBMQ 

8,163. 5,203. 5 200DBMQ 1,665 

TOTALS TO FORM 4562, PART V, LINE 26 1,665 

11 STATEMENT(S) 8, 9 

16500727 797060 SCHUMANAVIAT 2006.05070 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Form 1120 

Department of the Treasury 

Internal Revenue Service 

beginning 

U.f ^Corporation Income Tax Re' 

For calendar year 2007 or tax year 

, ending 

EXTENSION GRANTED TO 09/15/08 

n 

OMB No. 1645-01?3 

2007 

A Check if: 

^ a Consolidated return 

(attach Form 851)... 

f b Life/nonltfe consoli- | 1 

dated return | ( 

Personal holding co. ( n 

{attach Sch. PHf | | 

Personal service corp. I I 

(see instructions) I I 

Schedule M-3 

attached 

.• 

• 

Use 

IRS 

label. 

Otherwise, 

print 

or type. 

NameSCHUMAN AVIATION 

DBA MAKANI KAI HELICOPTERS 

Number, street, and room or suite no. If a P.O. box, see instructions. 

110 KAPALULU PLACE 

City or town, state, and ZIP code 

HONOLULU, HI iiSll 

B Enipioyer identification numbtw 

99-033000 1 

C Date incorporated 

09/01/1996 

D Total assets (see instructions) 

$ 1.228,58 0 

E Cfieckif: (1)1 I Initial return (2)1 I Final return (3)1 I Name change (4)1 I Address ctianoe tian 

1 Gross receipts or sales | 2/343 , 428 . b Less returns and allowances 

Cost of goods sold (Schedule A, line 8) 

Gross profit. Subtract line 2 from line 1c 

Dividends (Schedule C, line 19) 

Interest 

Gross rents 

Gross royalties ' 

Capital gain net income (attach Schedule D (Form 1120)) 

Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797) 

Other income (attach schedule) 

Total income. Add lines 3 through 10 

c Bal ^ 

3 

4 

5 

6 

J_ 

6 

_9_ 

10 

11 

1.,.343, 428 

2.343.428 

J_,38 5 

2.345.813 

m 

12 Compensation of officers (Schedule E, line 4) 

13 Salaries and wages (less employment credits) 

14 Repairs and maintenance 

15 Baddebts 

16 Rents 

12 i6_5.^0.00^ 

13 398,13 2 

14 _3^2Q9-

15 

16 

17 Taxes and licenses 

18 Interest 

19 

20 

21 

22 

23 

24 

25 

26 

27 

SEE...STATEMENT JL., 17 

__l/999 , 

_82/9,02 

1,337 . 

18 _57_._620 

Charitable contributions 

Depreciation from Form 4562 not claimed on Schedule A or elsewhere on return (attach Form 4562) 

Depletion 

Advertising 

Pension, profit-sharing, etc., plans 

Employee benefit programs 

Domestic production activities deduction (attach Form 8903) 

Other deductions (attach schedule) SEE,..STATEMENT...2. 

Total deductions. Add lines 12 through 26 

19 

20 J.2 2,^2.2 5 

21 

-22. 

23 

_75.-,.80J.. 

24 

25 

26 1.418.94 5 

27 2.427.178 . 

28 Taxable income before net operating loss deduction and spocial deductions. Subtract line 27 from line ^^ 28 

29 Less: a Net operating loss deduction STATEMENT 3 

b Special deductions (Schedule C, line 20) 

29a 

29b 

<81^365. > 

0. 

290 

30 

31 

32 32a 5,381 . 

Taxable income. Subtract line 29c from line 28 (see Instructions) 

Totaltax (ScheduleJ,line 10) 

a 2006 overpayment credited to 2007 

b 2007 estimated tax payments 

c 2007 refund applied for on Form 4466 

e Tax deposited with Form 7004 

f Credits: (1) Form 243B 

30 

31 

32b 

32c 

-<Uu-365 . 

0 

I Ba l ^ 

(2) Form 4136 . 

32d 

32e 

32f 

5,38 1 

33 

34 

35 

36 

Estimated tax penalty (see instructions). Check if Form 2220 is attached 

Amount owed. If line 32g is smaller than the total of lines 31 and 33, enter amount owed 

Overpayment. If line 32g is larger than the total of lines 31 and 33, enter amount overpaid 

Enter amount from line 35 you want: Credited to 2008 estimated tax • 

• o 

^ I L ._5. 38.1. 

33 

34 

35 

Sign 

Here 

Refunded 36 

_5^38 1 

5LJ8 1 

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, ii is true. 

correct, and complete. Declaration ot preparer (other than taxpayer) is based on all information of which preparer has any knowledge. 

Signature of officer 

May the IMS discuss thiK 

[ X ] Yes C: 'No 

Rd 

Preparer'i 

Use Only 

Preparer's 

signature 

Check if 

self-employed I [ 

Firm's name 

(or yours if 

self-employed), 

address, and 

ZIP code 

•

TARYN R. SCHUMAN, CPA, INC. 

P.O. BOX 4409 

HONOLULU. HI 96812-4409 

Preparer's SSN or PTIN 

P00360965 

EIN 99 0338688 

Phone no. 808-524-741 1 

711601 

12-26-07 JWA For Privacy/Paperworic Reduction Act Notice, see instructions. 

11140821 797060 SCHUMANAVIAT 2007.06000 SCHUMAN AVIATION DBA MAKANI 

Form 1120 (2007) 

SCHUMAOl 

m 
Form 1120(2007) SCHUMAN AVIATI01>4 DBA MAKAN I KA I HELICOPT 99-0330001 Papc2 

Schedule A Cost of Goods Sold (see instructions) 

1 Inventory at beginning of year 

2 Purchases 

^ H k 3 Costoflabor 

^ ^ 4 Additional section 263A costs (attach schedule) 

5 Other costs (attach schedule) 

6 Total. Add lines 1 through 5 

7 Inventory at end of year , , . 

8 Cost of goods sold. Subtract line 7 from line 6. Enter here and on page 1, line 2 

1 

2 

3 

4 

5 

6 

7 

8 

9a Check all methods used for valuing closing inventory: 

(i) • Cost 

(ii) I I Lower of cost or market 

(iii) I I Other (Specify method used and attach explanation.) • _ 

Check if there was a writedown of subnormal goods 

Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) 

If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of 

closing inventory computed under LIFO 

If property is produced or acquired for resale, do the rules of section 263A apply to the corporation? 

Was there any change in determining quantities, cost, or valuations between opening and closing inventory? 

9d 

• • 

• IZJ 

• Yes LI J No 

If "Yes," attach explanation I I Yes L, l No 

Schedule C | Dividends and Special Deductions (see instructions) 

1 Dividends from less-than-20%-owned domestic corporations (other than 

debt-financed stock) 

2 Dividends from 20%-or-more-owned domestic corporations (other than debt-financed 

stock) 

3 Dividends on debt-financed stock of domestic and foreign corporations 

4 Dividends on certain preferred stock of less-tlian-20% -owned public utilities 

5 Dividends on certain preferred stock of 20% -or-more-owned public utilities 

} 0 Dividends from less-ttian-20% -owned foreign corporations and certain FSCs 

7 Dividends from 20% -or-more-owned foreign corporations and certain FSCs 

8 Dividends from wholly owned foreign subsidiaries 

9 Total. Add lines 1 through 8 

10 Dividends from domestic corporations received by a small business investment 

company operating under the Small Business Investment Act of 1958 

11 Dividends from affiliated group members 

12 Dividends from certain FSCs 

13 Dividends from foreign corporations not Included on tines 3, 6. 7, 8, 11, or 12 

14 Income from controlled foreign corporations under subpart F (attach Form(s) 6471) 

15 Foreign dividend gross-up 

16 IC-DISC and former DISC dividends not included on lines 1, 2, or 3 

17 Other dividends 

18 Deduction for dividends paid on certain preferred stock of public utilities 

19 Total dividends, Add lines 1 through 17. Enter here and on page 1, line 4 

(a) Dividends 

received (b) % 

70 

80 

see 

instructions 

42 

48 

70 

80 

100 

too 

100 

100 

20 Total special deductions. Add lines 9.10.11,12. and 18. Enter here and on page 1. line 29b 

(c) Special deductions 

(a)x(b) 

Schedule E Compensation of Officers r.^crS'scLggu^rekX;';, only if total receipts (line 1a plus lines 4 ttirough 10 on page i) are $500,000 or more. 

I Name of officer 

IRICHARD SCHUMAN 

(b) Social security 

number 

576-60-5636 

(c) Percent of 

time devoted 

to business 

FULL 

Percent of corporation 

stock owned 

(d) Common 

100.00 % 

(e) Preferred 

(f) Amount ol 

compensation 

120,00 0 

DIAN SCHUMAN 380-70-7562 FULL 45,000 

Total compensation of officers 

3 Compensation of ollicers claimed on Schedule A and elsewhere on return 

4 Subtract line 3 from line 2. Enter the result here and on page 1. line 12 .. 

J=.i5...0J0 

165,00 0 

JWA Form 112 0 (2007) 

11140821 797060 SCHUMANAVIAT 2007.06000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Form 1120(2007) SCHUMAN AVIATION DBA MAKANI KAI HELICOPT 99-033000 1 ''3903 

Schedule J | Tax Computation (see instructions) 

1 

2 

3 

4 

5a 

b 

c 

d 

e 

6 

7 

8 

9 

10 

5a 

5b 

Check if the corporation is a member of a controlled group (attach Schedule 0 (Form 1120)) 

Income tax. Check if a qualified personal service corporation 

(see instructions). 

Alternative minimum tax (attach Form 4626) 

Add lines 2 and 3 ... 

Foreign tax credit (attach Form 1118) 

Credits from Forms 6735 and 8834 

General business credit. Check applicable box(es): I I Form 3800 LZH Form 5884 

I I Form 6478 CZ ] Form 8835, Section B C U Form 8844 C D Form 8846 

Credit for prior year minimum tax (attach Form 8827) 

Bond credits from: •Form886 0 [IIlForm891 2 

Total credits. Add lines 5a through 5e 

Subtract line 6 from line 4 

Personal holding company tax (attach Schedule PH (Form 1120)) 

Other taxes. Check if from: d l Form 4255 CZD Form 8611 CZ l Form 8697 

• Form 8866 • Form 8902 CZ l Other (attach schedule) 

Total tax. Add lines 7 through 9. Enter here and on page 1, line 31 

• ZD 

• • 

5c 

5d 

5e 

9 

10 

.0 

" o" 

Schedul e K | Othe r Informatio n (see instructions) 

1 Check accounting method: a I . I Cash b I X I Accrual 

c I I Other (specify) • 

See the instructions and enter the: 

a Business activity code no. • 4 8 7 0 0 0 

b Business activity •HELICOPTE R TOU R 

C Product or service • ENTERTAINMEN T 

At the end of the tax year, did the corporation own, directly or 

indirectly, 50% or more of the voting stock of a domestic 

corporation? (For rules of attribution, see section 267(c).) 

If "Yes," attach a schedule showing: (a) name and 

employer identification number (EIM), (b) percentage owned, 

and (c) taxable income or (loss) before NOL and special 

deduction of such corporation for the tax year ending with or 

within your tax year. 

Is the corporation a subsidiary in an affiliated group or a 

parent-subsidiary controlled group? 

If "Yes," enter name and EIN of the parent corporation • 

At the end of the tax year, did any individual, partnership, 

corporation, estate, or trust own, directly or indirectly, 

50% or more of the corporation's voting stock? (For rules 

of attribution, see section 267(c).) STATEMENT , . ,4,. 

If "Yes," attach a schedule showing name and identifying 

number. (Do not include any information already entered 

in 4 above.) Enter percentage owned • 100 . 00 

During this tax year, did the corporation pay dividends (other 

than stock dividends and distributions in exchange for stock) 

in excess of the corporation's current and accumulated 

earnings and profits? (See sections 301 and 316.) 

If "Yes," file Form 5452, Corporate Report of 

Nondividend Distributions. 

If this is a consolidated return, answer here for the parent 

corporation and on Form 851. Affiliations Schedule, for 

each subsidiary. 

Yes No 

X 

X 

X 

At any time during the tax year, did one foreign person 

own, directly or indirectly, at least 25% of (a) the total 

voting power of all classes of stock of the corporation 

entitled to vote or (b) the total value of all classes of stock 

of the corporation? 

If "Yes," enter: (a) Percentage owned • 

and (b) Owner's country • 

c The corporation may have to file Form 5472, Informatioii 

Return of a 25% Foreign-Owned U.S. Corporation or a 

Foreign Corporation Engaged in a U.S. Trade or Business. 

Enter number of Forms 5472 attached • 

Check this box if the corporation issued publicly offered 

debt instruments with original issue discount • 

If checked, the corporation may have to file Form 8281, 

Information Return for Publicly Offered Original Issue 

Discount Instruments. 

Enter the amount of tax-exempt interest received or 

accrued during the tax year • $ 

CD 

10 Enter the number of shareholders at the end of the tax 

year (if 100 or fewer) • 1^ _ 

11 If the corporation has an t^OL for the tax year and is 

electing to forego the carryback period, check here ... • I I 

If the corporation is filing a consolidated return, the statement 

required by Regulations section 1.1502-21(b)(3) must be 

attached or the election will not be valid, 

12 Enter the available NOL carryover from prior tax years 

(Do not reduce it by any deduction on line 

29a.) • $ 21.879 . 

13 Are the corporation's total receipts (line la plus lines 4 through 

10 on page 1) for the tax year and its total assets at the end of the 

tax year less than $250,000? 

If "Yes," the corporation is not required to complete Schedufes L, 

M-1, and M-2 on page 4. Instead, enter the total amount of cash 

distributions and the book value of property distributions (other 

than cash) made during the tax year. • $ 

Yes No 

X 

X 

JWA Form 112 0 (2007) 

711621 

12-26-07 

11140821 797060 SCHUMANAVIAT 2007.06000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Form 1120(2007) SCHUMAN AVIAT I 

Schedul e L | Balance Sheets per Books 

Assets 

1 Cash 

2a Trade notes and accounts receivable 

^ ^ b Less allowance tor bad debts 

^ ^ ^ 3 Inventories 

4 U.S. government obligations 

5 Tax-exempt securities 

6 other current assets (att. son.) STMT . 5 .. 

7 Loans to shareholders 

8 Mortgage and real estate loans 

9 other investments (att. sch,) 

10a Buildings and other depreciable assets 

b Less accumulated depreciation 

11a Depietable assets 

b Less accumulated depletion 

12 Land (net of any amortization) 

13a Intangible assets (amortizable only) 

b Less accumulated amortization 

14 Other assets (att. sch.) 

15 Totalassets 

Liabilities and Stiareliolders' Equity 

16 Accounts payable 

17 Mortgages, notes, bonds payable in less than 1 year 

18 Other current liabilities (att, soh,) STM T 6 

19 Loans from shareholders 

20 Mortgages, notes, bonds payable in 1 year or more 

21 Other liabilities (att. sch.) 

22 Capital stock: a Preferred stock 

^ ^ b Common stock 

^ ^ 3 Additional paid-in capital 

^^^tj A Retained earnings -

^ ^ Appropriated (attach schedule) 

25 Retained earnings - Unappropriated 

„ „ Adjustments to shareholders' 

t o equity (attach schedule) 

27 Less cost Of treasury stock 

28 Total liabilities and shareholders' equity 

Schedule M-1 Reconciliation ol 

DBA MAKANI KAI HELICOPT 

Beginning o( tax year 

(a) 

111,391 . 

( ) 

2.038.652 . 

( 1.868.431J 

( 1 

280.192 . 

( 177.303J 

20.000 . 

Income (Loss) per 

(b) 

96,645 . 

111,391 . 

27.392 . 

34.852 . 

170.221 . 

102.889. 

543,390. 

63.212 . 

88.000 . 

37.944 . 

400,347. 

20,000 . 

<66,113 . 

( \ 

543.390. 

Books With Income 

99-0330001 ''-^90* 

F.nd of tan year 

(0 

118.960 . 

( ) 

2,810,325 . 

( 2,090.656 J 

( 1 

285,192 . 

( 192,7314 

20,000 . 

> 

per Return 

(d) 

127,411 . 

118,960. 

135,227. 

34,852 . 

719.669 . 

92.461 . 

1,228,580 . 

242,103 . 

127,000 . 

43.959 . 

949,162 . 

20,000 . 

<153,644.> 

( 1 

1,228,580 . 

Note: Schedule M-3 required instead of Schedule M-1 if total assets are $10 million or more - see instructions 

1 Net income (loss) per books 

2 Federal income tax per books 

3 Excess of capital losses over capital gains 

4 Income subject to tax not recorded on books this year 

(itemize): 

5 Expenses recorded on books this year not 

deducted on this return (itemize): 

a Depreciation $ 

Charitable * 

D contributions *P 

Travel and • A "il l 

V entertarnmenl * *± f -j 1 1 » 

STMT 7 2,170 . 

6 Add lines 1 through 5 

<87,531 . 

<381 . 

6,547 . 

<81,365 . 

Schedule M-2 Analysis of Unappropriated Retained 

1 Balance at beginning of year 

2 l^et income (loss) per books 

3 Other increases (itemize): 

^ i 

4 Add lines 1,2, and 3 

<66,113 . 

<87,531 . 

<153,644. 

>7 Income recorded on books this year not 

> included on this return (itemize): 

Tax-exempt interest $ 

8 Deductions on this return not charged 

against book income this year (itemize): 

a Depreciation $ 

. Charitable * 

9 Addlines7and8 

SO Income (page 1. line 28) - line 6 less line 9 <&1.365.> 

Earnings per Books (Line 25, Schedule L) 

>6 Distributions: a Cash 

> b Stock 

c Property 

6 Other decreases (itemize): 

7 Addlines5and6 

>8 Balance at end of vear (line 4 less line 7) <153,644.> 

JWA Form 1120 (200/) 

.1140821 797060 SCHUMANAVIAT 2007.06000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
F=orni 4562 

Department of the Treasury 

(nternaf Revenue Service 

Depreciation and Amortization 

(Including Information on Listed Property) OTHER 

• See separate instructions. • Attach to your tax return. 

OMB No. 1S46 0I(',' 

2007 

Attachment 

Sequence No &7 

I Name(s) shown on return 

SCHUMAN AVIATION 

DBA MAKANI KAI HELICOPTERS 

Business or activity to which this form relates 

OTHER DEPRECIATION 

idenlifying numhor 

99-033000 1 

Part 11 Election To Expense Certain Property Under Section 179 Note: If you have any listed property, complete Part V before you complete Part I. 

1 Maximum amount, See the instructions tor a higfier limit for certain businesses 

2 Total cost of section 179 property placed in service (see instructions) 

3 Ttireshold cost of section 179 property before reduction in limitation 

4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter-0-

5 Dollar limitation for tax year. Subtract line 4 from line 1. It zero or less, enter -Q-. If married filing separately, see instructions 

_t25_..QQ.O 

JM.PO0 

6 i) Description of property (b) Cost (business use only) 

7 Listed property. Enter the amount from line 29 

8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 

9 Tentative deduction. Enter the sma((er of line 5 or line 8 

10 Carryover of disallowed deduction from line 13 of your 2006 Form 4562 

fc) Elected cost 

11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 

12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 

13 Carryoverof disallowed deduction to 2008. Add lines 9 and 10, less line 12 • 13 

10 

11 

12 

Note: Do not use Part II or Part III below for listed property. Instead, use Part V. 

Part II Special Depreciation Allowance and Other Depreciation (Do not include listed property.) 

^ 

^ 

14 Special allowance for qualified He\N York Liberty or Gulf Opportunity Zone property (other than listed property) and cellulosic 

biomass ethanol plant property placed in service during the tax year 

5 Property subject to section 16B(f)(1) election 

'6 Other depreciation (including ACRS) 

14 

15 

16 

Part III MACRS Depreciation (Do not include listed property.) (See Instructions.) 

Section A 

17 MACRS deductions for assets placed in service in tax years beginning before 2007 

18 If you are electing to group any assets placed in service during tfie tax year into one or more general asset accounts, ctieck fiere >Q. 

17 66.89 0 

Section B - Assets Placed in Service During 2007 Tax Year Using the General Depreciation System 

(a) Classification of property 

19a 3year property 

b 5-year property 

c 7-year property 

d 10-year property 

e 15-year property 

f 20-year property 

q 25-year property 

h Residential rental property 

1 Nonresidential real property 

(b) tulontl^ and 

year placed 

In service 

/ 

/ 

/ 

/ 

(c) Basis for depreciation 

(business/investment use 

only - sea Instructions) 

771,674. 

(d) Recovery 

period 

5.0 

25 yrs. 

27.5 yrs. 

27,5 yrs. 

39 yrs. 

(e) Convention 

HY 

I^M 

bAM 

MM 

MM 

(f) fVlettiod 

200DB 

S/L 

S/L 

S/L 

S/L 

S/L 

(g) Depreciation deduction 

154,336. 

Section 0 - Assets Placed in Service During 2007 Tax Year Using the Alternative Depreciation System 

20a Class life 

b 12-year 

c 40year / 

12 yrs. 

40 yrs. MM 

S/L 

S/L 

S/L 

Part IV Summary (see instructions) 

21 Listed property. Enter amount from line 

^ ^ k Total. Add amounts from line 12, lines 1 

^ ^ F Enter here and on the appropriate lines c 

23 For assets shown above and placed in s 

portion of the basis attributable to sectic 

28 

4 through 17, lines 19 and 20 in column (g), and line 21, 

3f your return. Partnerships and S corporations - see instr 

ervice during th 

)n 263A costs .. 

s current year, enter the 

23 

21 

22 

999. 

222,225. 

11-03-07 LHA For Paperwork Reduction Act Notice, see separate instructions. Form 4562 (2007) 

5 

.1140821 797060 SCHUMANAVIAT 2007.06000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 

m m 
Form 4562 (2007) SCHUMAN AVIATION DBA MAKANI KAI HELICOPT 99-0330001 Page 2 

2-

Part V Listed Property (Include automobiles, certain other vehicles, cellular telephones, certain computers, and property used for entertainment, 

recreation, or amusement.) 

Note: For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 24b, columns (a) 

through (c) of Section A, all of Section B, and Section C if applicable 

iection A - Depreciation and Other Information (Caution: See the instnjctlons for limits for passenger automobiles.) 

24a Do you have evidence to support the business/investment use claimed? | X | Yes 1 No 

(a) 

Type of property 

(list vehicles first) 

(b) 

Date 

placed in 

service 

(c) 

Business/ 

investment 

use percentage 

(d) 

Cost or 

other basis 

(e) 

Basis for depreciation 

(business/investment 

USB only) 

24b If "Yes," is the evidence written? [X.] Yes ._J No 

(f) 

Recovery 

period 

(g) 

H/lethod/ 

Convention 

25 Special allowance for qualified Gulf Opportunity Zone property placed in service during the tax year and 

used more than 50% in a qualified business use 25 

(h) 

Depreciation 

deduction 

(i) 

llcclod 

section 1 /9 

cost 

26 Property used more than 50% in a qualified business use: 

SEE STATE MENT: 8 

% 

% 

% 

999. 

27 Property used 50% or less in a qualified business use: 

% 

% 

% 

S/LS/LS/L28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 

29 Add amounts in column (i), line 26. E nter here and or 1 line 7, paae 1 ,. 

28 999. 

29 

Section B - Information on Use of Vehicles 

Complete this section for vehicles used by a sole proprietor, partner, or other "more than 5% ovifner," or related person. 

If you provided vehicles to your employees, first ansvifer the questions in Section C to see if you meet an exception to completing this section for 

those vehicles. 

30 Total business/investment miles driven during the 

year (do not include commuting miles) 

31 Total commuting miles driven during the year 

^^3 2 Total other personal (noncommuting) miles 

^ ^ B driven 

33 Total miles driven during the year. 

Add lines 30 through 32 

34 Was the vehicle available for personal use 

during off-duty hours? 

35 Was the vehicle used primarily by a more 

than 5% owner or related person? 

36 Is another vehicle available for personal 

use? 

(a) 

Vehicle 

Yes No 

(b) 

Vehicle 

Yes No 

(c) 

Vehicle 

Yes No 

(d) 

Vehicle 

Yes No 

' 

(e) 

Vehicle 

Yes No 

( 

Veti 

Yes 

f) 

icic 

No 

Section C - Questions for Employers Who Provide Vehicles for Use t)y Their Employees 

Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are not more than 5% 

owners or related persons. _____ ^ 

37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your 

employees? 

38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your 

employees? See the instructions for vehicles used by corporate officers, directors, or 1 % or more owners 

39 Do you treat all use of vehicles by employees as personal use? 

40 Do you provide more than five vehicles to your employees, obtain information from your employees about 

the use ofthe vehicles, and retain the information received? 

41 Do you meet the requirements concerning qualified automobile demonstration use? 

Note: If your answer to 37, 38, 39, 40, or 41 is "Yes," da not complete Section B for the covered vehicles. 

Yes _No. 

X 

_X 

X.._ 

X 

"x 

Part VI Amortization 

(a) 

Description of cosls 

(b) 

Dale ainonizatlon 

begins 

(c) 

Amortizable 

amount 

(d) 

Code 

section 

(e) 

Amoillzation 

peiioD 01 peicentage 

(t) 

Arnorii7alion 

(of this yefir 

42 Amortization of costs that begins during your I 

.^A N FEES w 

2007 tax year: 

100107 5,000 . 180 

43 Amortization of costs that began before your 2007 tax year 

44 Total. Add amounts in column (f). See the inst ructions for ivhere to report 

43 

44 

8 3. 

15,345 . 

15,428 . 

716262/11-03-07 Form 4562 (MO/) 

.1140821 797060 SCHUMANAVIAT 2007.06000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
,

TM 8827 

Depailment of the Treasury 

Internal Revenue Service 

CreL.< for Prior Year Minimum Tax - Corporai..>ns 

^ Attacli to the corporation's tax return. 

•^^^ SCHUMAN AVIATION 

DBA MAKANI KA I HELICOPTERS 

1 Alternative minimum tax (AMT) for 2006. Enter the amount from line 14 of the 2006 Form 4626 

2 Minimum tax credit car 

3 Enter the 2006 unallow 

4 Add lines 1,2, and 3 

5 Enter the corporation's 

instructions) 

6 Is the corporation a "sn 

• Yes. Enter 25% of th 

• No. Complete Form' 

7 Subtract line 6 from lin 

8 Minimum tax credit. E 

line 5d or the appropris 

post-1986 ownership c 

9 Minimum tax credit ca 

amount to carry forwar 

ryforward from 2006. Enter the amount from line 9 of the 2006 Form 8827 

ed qualified electric vehicle credit (see instructions) 

2007 regular income tax liability minus allowable tax credits (see 

lall corporation" exempt from the AMT for 2007 (see instructions)? 

e excess of line 5 over $25,000. If line 5 is $25,000 or less, enter -0-

1626 for 2007 and enter the tentative minimum tax from line 12 

e 5. If zero or less, enter -0-

nter the smaller of line 4 or line 7 here and on Form 1120, Schedule J, 

te line of the corporation's income tax return. If the corporation had a 

hange or has pre-acquisition excess credits, see instructions 

rry1or>ward to 2008. Subtract line 8 from line 4. Keep a record of this 

d and use in future years 

OMUNo. 1fa4!) I?'.)/ 

2007 

Employer identification number 

99-0330001 

1 

2 

3 

5 

6 

7 

-

8 

9 

3,195. 

3^195. 

0. 

0. 

0. 

0. 

3,195. 

JWA 

720281 

12-27-07 

Form 8827(2007) 

11140821 797060 SCHUMANAVIAT 2007.06000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 

•^••••••iMiiiilai i 
SCHUMAN AVIATION DBA MAK^ I KAI HELICOPT 99-0330001 

FORM 1120 

iSicRIPTION 

GENERAL EXCISE TAX 

TOTAL TO FORM 1120, LINE 17 

FORM 1120 

DESCRIPTION 

AIRCRAFT OPS COSTS 

AMORTIZATION 

BANK CHARGES 

INSURANCE 

MEALS AND ENTERTAINMENT 

MISCELLANEOUS 

OFFICE SUPPLIES 

OUTSIDE SERVICE 

PRINTING AND REPRODUCTIONS 

PROFESSIONAL DEVELOPMENT 

PROFESSIONAL FEES 

TE^PHONE 

T M COST S 

TRSVE L 

UTILITIES 

VEHICLE EXPENSES 

TOTAL TO FORM 1120, LINE 26 

NET 

TAX YEAR LOSS SUSTAINED 

12/31/02 125,122. 

12/31/04 76,305. 

NOL CARRYOVER AVAILABLE THIS 

TAXES AND LICENSES 

OTHER DEDUCTIONS 

OPERATING LOSS DEDUCTION 

LOSS 

PREVIOUSLY LOSS 

APPLIED REMAINING 

125,122. 0. 

54,426. 21,879. 

YEAR 21,879. 

STATEMENT 1 

AMOUNT 

1,337. 

1,337. 

STATEMENT 2 

AMOUNT 

877,864. 

15,428. 

14,149. 

212,871. 

4,377. 

6,423. 

26,407. 

3,749. 

16,740. 

1,417. 

123,331. 

20,316. 

23,126. 

20,476. 

8,009. 

44,262. 

1,418,945. 

STATEMENT 3 

AVAILABLE 

THIS YEAR 

0. 

21,879. 

21,879. 

8 STATEMENT(S) 1, 2, 3 

.1140821 797060 SCHUMANAVIAT 2007.06000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
SCHUMAN AVIATION DBA MAK T KAI HELICOPT 99-0330001 

OTHER INFORMATION 50% OR MORE OF VOTING STOCKS OWNED BY STATEMENT 4 

NAME RICHARD SCHUMAN 

ADDRESS 

IDENTIFYING NUMBER 576-60-5636 

:B) PERCENT OF STOCK 100.00% 

SCHEDULE L OTHER CURRENT ASSETS STATEMENT 5 

DESCRIPTION 

UNDEPOSITED FUNDS 

OPERATING SUPPLIES 

STATE INCOME TAX RECEIVABLE 

FEDERAL INCOME TAX RECEIVABLE 

DEPOSIT 

TOTAL TO SCHEDULE L, LINE 6 

BEGINNING OF 

TAX YEAR 

16,806. 

6,301. 

4,285. 

0. 

0. 

27,392. 

END OF TAX 

YEAR 

6,761. 

6,301. 

14,284. 

5,381. 

102,500. 

135,227. 

SCHEDULE L OTHER CURRENT LIABILITIES STATEMENT 

DESCRIPTIO DWC N 

BEGINNING OF 

TAX YEAR 

END OF TAX 

YEAR 

ACCRUED LIABILITIES 

ACCRUED PAYROLL 

ACCRUED GENARAL EXCISE TAX 

TOTAL TO SCHEDULE L, LINE 18 

5,418. 

32,526. 

0. 

37,944, 

11,580 

31,603, 

776 

43,959 

SCHEDULE M-1 OTHER EXPENSES RECORDED ON BOOKS 

NOT DEDUCTED IN THIS RETURN 

STATEMENT 

DESCRIPTION 

LIFE INSURANCE 

TOTAL TO SCHEDULE M-1, LINE 5 

AMOUNT 

2,170 

2,170. 

,1140821 797060 SCHUMANAVIAT 

9 STATEMENT!S) 4, 5, 6, 7 

2007.06000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 

m 
SCHUMAN AVIATION DBA MAK I KAI HELICOPT 99-0330001 

FORM 4562 TOTALS LISTED PROPERTY INFORMATION-MORE THAN 50% STATEMENT 8 

(A) (B) (C) (D) (E) (F) (G) (H) (I) 179 

DESCRIPTION DATE BUS. % COST BASIS LIFE MTH/CV DEDUCTION ELECTED 

(K) (L) (M) (N) (0) (P) (Q) 

TOTAL BUSINESS COMMUTING PERSONAL WAS VEH. > 5% ANOTHER VEH. 

MILES MILES MILES MILES AVAIL.? OWNER? AVAILABLE? 

Y N Y N Y N 

1995 FORD 10/15/96 

VAN 100.00 10,000. 10,000. 5 200DBMQ 

COMPUTER & 10/01/96 

SOFTWARE 100.00 5,000. 5. 5 200DBMQ 

2004 SUBARU 01/01/05 100.00 8,163. 5,203. 5 200DBMQ 

0. 

0. 

999. 

TOTALS TO FORM 4562, PART V, LINE 26 999 

10 STATEMENT(S) 8 

11140821 797060 SCHUMANAVIAT 2007.06000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Form 1120 

0«pvtm«nt of th* TrMau^r 

Intamal Ravanu* S«fvtc* 

A Check if: 

bLI(WnonlH*oon»oll- I 1 

dat«d ratum j J 

' ' giSg?^«B?.::!::..n 

* Sch«iutaM-3 I H 

atlaehad ,. I J 

beginning 

U. Corporation Income Tax Re rn 

For ealendtr year 2008 or tax yatr 

_ _ j , ending ^ 

Uce 

ms 

label. 

Otherwice, 

print 

or type. 

EXTENSION GRANTED TO nQ/lJ^/OQ 

NameSCHUMAN AVIATION 

D6A MAKANI KAI HELICOPTERS 

Number, street, and room or suite no. If a P.O. box, see Instructions. 

l i b KAPALULU PLACE 

City or town, state, and ZIP code 

HnWOr.TTT.TT • HT 9681Q 

OMB No. 1S45-0123 

2008 

B Employtr IdenWlcaHon numbar 

99-0330001 

C Oat* Inosrporatad 

09/01/1996 

D Total 

1 2 

Check It <nr~ l Initial return (2)1 I Final return Oi l I Name change Mi l 1 Adflress chanoB 

(••* Inatructlons) 

636.766, 

1 aQcoa*rac*lptsor**l«* | 2 . 66 3 . 07 9 «l bU**r»tufnaandallow«nc<a t 'i 

2 Cost Of goodssold (Schedule A, line 8); 

3 Gross profit Subtract line 2 from line 1c 

4 Dividends (Schedule C, line 19) 

5 Interest ; 

6 Gross rents .. . 

e Bal ^ 

7 Gross royalties , 

8 Capital gain net income (attach Schedule D (Form 1120)) 

9 Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797) 

10 Other income (attach schedule) j S.g.B....S.TAT.SWBiNT....i.. 

11 Total income. Add lines 3 through 10 I , 

1c 2.663.079 . 

2.663.079 . 

1,281 . 

10 30,8^7 . 

11 2.695.227 . 

12 Compensation of officers (Schedule E, line 4) 

13 Salaries and wages (less employment cfedits) 

14 Repairs and maintenance 

15 Baddebts 

16 Rents 

12 173.000 . 

13 461,098 . 

14 22,428 . 

15 318 . 

17 Taxes and licenses S.B.B....S.TAT.BMENT...,2.. 

18 Interest ^ 

19 Charitable contributions S.Ell....S.TAT.lMEaJT....3 MD, S.EliB....S.TATiBMBl?T ...4.. 

20 Depreciatioh from Form 4562 not claimed on Schedule A or elsewhere on return (attach Form 4562) 

21 Depletion 

22 Advertising 

23 Pension, profit-sharing, etc., plans ...., 

24 Employee benefit programs 

28 Domestic production activtlies deduction (attach Form 8903) 

26 Other deductions (attach schedule) ...J SKK...STATEMENT...5.. 

27 Totti deductions. Add lines 12 through 26 

28 TaxabI* Incom* batbr* net operating Io** dadwAlon and apaeial deductions. Subtract lin* 27 from Una 11 

16 30.059. 

17 13,867. 

18 149.250. 

19 0. 

20 522,786. 

21 

22 85,278. 

23 

24 

25 

26 1.281.705. 

29 Lesca Net operating loss deduction 

b Special deductions (Schedule iC, line 20) 

.STAT.EMSNT....6., 29a 

29b 

• 

6 . 

27 2,739,789 . 

28 <44.562.> 

29e 

if 

It 

^ 

32a 

30 Taxable Income. Subtract line 29c Irdm line 28 (see instructions) 

31 ToUltax (Schedule J, line 10) .. 

32 a 2007 overpayment credited to 2008 

b 2008 estimated tax payments 

c 2008 refund applied for on Form 4466 

e Tax deposited with Form 7004 .. 

f Crodita: (1) Fomi 2430 

30 <44.562.> 

31 

B2b 

i32c 

0. 

dBai> » 

(2) Farm 4130 . 

32d 

32e 

32f 

g Refundable credits from Form 3800, line 19c, and Form 8827, line 8c I 32n 

33 Estimated tax penalty (see instructions), icheck if Form 2220 is attached 

34 Amount owed. If line 32h is smaller than the total of lines 31 and 33, enter amount owed 

35 Overpayment, if line 32h is larger than the total of lines 31 and 33, enter amount overpaid 

?6 Enter amount from line 35 you want Creldited to 2009 estimated tax • 

32h 

• • 33 

34 0. 

i i 

Refunded 36 

Sign 

Here 

Unclarp*n*ltl«*o(p*riuiy,ld»clii»th«tltiai»l««xamtrt»dtltl«i*tum, tewludlna«eoompanytnfl*cti«dul«*and«tat»rn«nt«, andtotti«b««tortny ^ 

correct, and cogi^Ma. Oaclaratlon of prvparat' (oltiar ttian taxpayer) la baa*d on all Intormatlon of wtiieh preparer haa any knowledge, 

Y^f^ "if-: 

1 ^ 3 \ i 

^ Slyiatur* of k>ffio*r '--- < -.^, 

JL 

Diilb 'Title 

ttieJRsdiacuasthI* 

^^n^^ , preparer 

[^vtawo 

FPreperer'a SSN or PTIN 

• I P00360965 S

aid 

reparer"! 

Use Only 

Preperer'a 

signatur* E Check If 

selfHwnployed 

Flrm'e neme 

(a your* If 

eetf-employed), 

addraa8,and 

ZIP code 

•

TARYN R. SCHUMAN, CPA, INC. 

P.O. BOX 4409 

HONOLULU. HI 96812-4409 

EIN 99 i0338688 

Phoneno. 808-524-7411 

rPrhrajsy/Papeiworii Reduction Act Notice, see instructions. 1 Form 1120 (2008) 

10320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 

i2.'3Toe JWA Fori 
Fom,ii2op,o,) SCHUMAN AVIATIOt. DBA MAKANI KAI HELICOPT 99-0330001 Paoe2 

Schedul e A I Cos t o f Gbod s Sol d (see instructions) 

1 

2 

3 

4 

5 

6 

7 

8 

9a 

Inventory at beginjning of year 

Purchases 

Costoflabor 

Additional section 263A costs (attach schedule) 

Other costs (attach schedule) 

Totti. Add lines t through 5 

Inventory at end oil year 

Cost of goods sold. Subtract line 7 from line 6. Enter here and on page 1, line 2 

Check all methodsj used for valuing closing inventory: 

(1) •cost I 

(ii) I I Lower a1 cost or market 

(iil) CZ] Other (Specify method used and; attach explanation.) • 

Check if there was a writedown of subnormal goods 

Check if the LIFO inventory method was adapted this tax year for any goods (if checked, attach Form 970) 

If the LIFO invento y method was used for this tax year, enter percentage (or amounts) of 

closing Inventory computed under LIFO 

If property is prodi iced or acquired for resale, do the rules of section 263A apply to the corporation? 

Was there any change in determining quanttUes, cost, or valuations between opening and closing inventory? 

IfYes/attachexplanation 

T CI 

• • 

9d 

n Yes • No 

• Yes aN o 

Scheduled Dividends and Special Deductions (see insb^uctions) (a) Dividends 

received (b) % 

(c) Special deductions 

(•)x(b) 

1 Dividends from less-ihan-20%-owned dotnestic corporations (other than 

debt-financed stock)! 

2 Dividends from 20%|or-more-owned domestic corporations (other than debt-financed 

stock) i 

3 DIvidenda on debt-flnan<M atock of domeetlc and toreign oorpcratlona 

4 Olvldenda on certain preferred Btodt of leea-than-2(n(-owned public utilltlea 

5 DIvldende on certain pr»j«r«dataek of 20N.orwiioreH>wned public utllltiee 

6 Olvldanda from leaa-tharj-20K .owned foreign eorpcratjonB and certain FSC* 

7 Dividend* from 2(m-ar-iincr«.own«d foreign copcrvtlon* and certain FSCs 

8 Dividends from whoify owned foreign subsidiaries 

9 Total. Add lines 1th rough 8 

10 Dividends from dome stic corporations received by a small business investment 

company operating under the Small Business Investment Act of 1958 

11 Dividends Itacn af«llat*d group memliera 

12 Dividende (hxn certain F$Ca 

13 DlvldendaltamtoeignotrporatlonanotlncludedonlineeS, e, 7, a, 11, or 12 

14 Income 1mm controlled fc reign uii pt»aUona under aubpart F (attach FomX*) 5471) 

15 Foreign dividend grois-up 

16 IC-DISC wdfbmier DISC dhrtdend* not Included on line* 1,2, or 3 

17 Ottier dividends ....j 

18 Deduction for divldenids paid on certain preferred stock of public utilities 

19 Totti dividends. Add lines 1 ttirough 17. Enter here and on page 1, line 4 

70 

80 

Instructlona 

42 

48 

70 

80 

100 

100 

100 

100 

20 Totti special ded^cttons. Add lines 9.10.11.12. and 18. Enter here and on pace 1. line 29b J

d^ctwns. Add lines 9. io. ii . iz. and ia. Enter here and on pace i. line 

Schedule Ci^mpensation of Officers a;fgS;g!ari5:sr.i:i;;!^;'i E otal ceoelpt* (line la plus line* 4 throucX 10 on page 11 ere $500,000 or more. 

(4) Name of officer (b) Social security 

number 

(c) Percent of 

time devoted 

to business 

Percent of corporation 

stock owned 

(d) Common (e) Preferred 

(f) Amount of 

compensation 

IRICHARD SCHUMAN 576-60-5636 FULL 100.00% 120.000. 

DIAN SCHUMAN 380-70-7562 FULL 53.000. 

.2 Total compensation o| officers 

3 Compensation of offiders claimed on Schedule A and elsewhere on return 

4 Subtract line 3 from line 2. Enter ttie result here and on oaoe 1. line 12 . 

173.000, 

17?,Q0Q. 

811011 nu t 

12-31-08 J" " Form 1120 (2008) 

10320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Forni 1120 (2008) g^HUMAN AVIATIv^W DBA MAKANI KAI HELICOPT 99-033000 1 Pages 

Schedule J | [Tax Cotriputation (see instructions) 

1 

2 

3 

4 

5a 

b 

c 

d 

e 

6 

7 

8 

9 

10 

Check it the corpbration is a member of a controlled group (attach Schedule 0 (Form 1120)) 

Income tax. Check if a qualified personal service corporation 

(see instructions! 

Alternative minirnum tax (attach Form 4626) 

Add lines 2 and 3 

• • 

• • 

Foreign tax credit (attach Form 1118) 

Credit from Forn^ 8834 

General business! credit (attach Form 3800) 

Credit for prior year minimum tax (attach Form 8827) 

Bond credits frorn Form 8912 

Total credits. Ad|d lines 5a through Be 

Subtract line 6 trim line 4 

Personal holding [company tax (attach Schedule PH (Form 1120)) 

Other taxes. Chedk if from: CZD Form 4255 [ZD Form 8611 

I •For m 8866 • Form 8902 

Total tax. Add lines 7 through 9. Enter here and on page 1. line 31 ,,,, 

5a 

5b 

5c 

Sd 

5e 

• Form 8697 

I I Other (attach schedule) 

dieth 

JO 

0. 

0. 

Schedule K | Other Information (see instructions) 

1 Check accounting njiethod: a L_J Cash b LXJ Accrual c I I Other (specify) • _ 

2 See the Instructlonsjand enter the: 

a Businessactivitycopeno.•487000 

b Business activity • HELICOPTER TOUR 

c Product or service h- ENTERTAINMENT 

3 Is the corporation alsubsldlary In an afflllated igroup or a parent-subsidiary controlled group? 

If "Ves," enter name and EIN of the parent corporation • 

4 At the end of the tax year: 

a Did any foreign or d|}mestlc corporation, partnership (including any entity treated as a partnership), or trust own directly 20% or 

more, or own, directly or indirectly, 50% or niore of the total voting power of all classes of the corporation's stock entitled to vote? 

For rules of constructive ownership, see instructions. If "Yes." complete (1) through (vl. 

tin Cmn\n\imr 

Yes No 

X 

0) Nanie of Entity 

(II) Employer 

Identification Number 

(if any) 

(iii) Type of Entity (iv) Country of 

Organization 

(v) Percentage 

Owned in Voting 

Stodi 

b Did any individual or| estate own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power ot all 

classes of the corpo|ation's stock entitled to vote? 

For rules of construdtive ownership, see instrOctions. If •Yes." complete (i) through (iv). 

X 

j (i) Name of Individual or Estate 

RICHARD SCHUMAN 

(11) Identifying Number 

(if any) 

576-60-5636CJNITED STATES 

(Iii) Country of Citizenship 

(see instructions) 

(iv) Percentage 

Owned in Voting 

Stock 

100.00 % 

JWA Form 1120 (2008) 

811621 

12-31-08 

16390806 79706b SCHUMANAVIAT 2008.04000 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Form 1120 (2008) gdHUMAN AVIATION DBA MAKANI KAI HELICOPT f 99-0330001 Page4 

Scheduf e K 1 Continued 

5 At the end of the tax year, 

a Own directly 20% oi 

foreign or domestic corporation 

If "Yes.* complete (1) through 

, did the corporation: 

more, or own, dlrectty or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of any 

not included on Form 851, Affiliations Schedule? For rules of constructive ownership, see instructions 

M ^ 

Yes No 

(1) Name of Corporation 00 Employer 

Identlfiotlon Number 

or any) 

Oil) Country of 

Incorporation 

Ov) Percentage 

Ovmed In Voting 

Stocl( 

b Own directly an interest 

(Including an entity 

If "Yes.'completed) 

of 20% or more, or own, directly or indirectly, an interest of 50% or more in any foreign or domestic partnership 

treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see Instructions 

through (iv). 

|lv) Mtidmuni 

PtitnilaiiiOwiiMllii 

ProKLgst, 01 Capital 

9) Name of Entity 00 Employer 

Identification Number 

(Ifeny) 

(III) Country of 

O-ganlzatlon 

During this tax year, did the corporation pay dividends (other than stock dividends and distributions in exchange for stock) in 

excess of ttie corporation's current and accumulated earnings and profits? (See sections 301 and 316.) 

If "Yes," file Form 646|z, Corporate Report of Nondividend Distributions. 

if this is a consolidated return, answer here for the parent corporation and on Form 851 for each subsidiary. 

At any time during the tax year, did one foreign;person own, directly or indirectly, at least 25% of (a) the total voting power of all 

classes of the corporation's stock lentitled to vote or (b) the total value of all classes of the corporation's stock? 

For rules of attribution, see section 318. If "Yes,* enter: 

(i) Percentage owned • and (ii) Owner's country • ^ 

(e) The corporation niay have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign 

Corporation Engaged in a U.S. Trade or Business. Enter the number of Forms 5472 at&ched • 

8 Check this box it ttie (^orporatton issued publicly offered debt instruments with original issue discount • I I 

9 

10 

11 

12 

.13 

If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue Discount Instruments. 

Enter the amount of fix-exempt interest received or accrued during the tax year • $ 

Enter the number of shareholders at the end of the tax year (if 100 or fewer) • . 1 _ 

If the corporation has|an NOL for the tax year and is electing to forego the carryback period, check here • I I 

If the corporation is filjlng a consolidated rehirn, the statement required by Regulations section 1.1502-21(b)(3) must be attached or 

the election will not bd valid. 

Enter the available NOL carryover from prior tax years (do not reduce it by any deduction on line 29a.) • $ 103 . 244. 

Are ttie corporation's jotai receipts (line la plus lines 4 ttirough 10 on page 1) for the tax year and its total assets at the end of the 

tax year less than $25|3,000? 

If "Yes," the corporation is not required to complete Schedules L, M-1, and M-2 on page 5. instead, enter the total amount of cash 

distributions and the hook value of property distributions (other than cash) made during the tax year. • $ 

12-31-08 JW A 

X 

4 

Form 1120 (2008) 

10320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 

i 
Fop1l20{2008) SdHUMAN AVIAT I 

Schedul e L I BI (Isnee Sheets oar Books 

Assets 

1 Cash j 

2s Trade notes and accounts receivable 

b Less allowance for iad debts 

' 3 Inventories ... 

4 U.S. government 0^ 

6 Tax-exempt securit 

6 Otiw current aaaeta (a 

ligations . 

BS 

..ac*,.) STMT....?.... 

7 Loans to shareholdjers 

8 Mortgage and real* 

10s Buildings and othei 

State loans 

ecn.) 

depreciable assets 

b Less accumulated depreciation 

11a Depietable assets 

b Less accumulated < epietion 

12 Land(nefofanyanonization) 

13s Intangible assets (a 

b Less accumulated i 

14 Other assets (atL so 

16 Totalassets 

Liabilities and Sba 

16 Accounts payable 

17 Mortgagee, notee, bon< 

mortiable only) 

morti2ation 

h.) 

eholdars' Equity 

e payable In leaa than 1 year 

18 01hera.Tent»abllltte.U.ech.) S.TMT...8... . 

19 Loans from shareh( 

20 Mortgagee, notee, bon 

Iders . 

e payable In 1 year or more 

21 Other liabilities (att. ^ch.) 

22 Capital stock: i Pr 

bCc 

k23 Additional paid-in c 

iferred Stock 

mmon stock 

ipital 

I . J Retalnadaamlnge- | 

' 2 4 Apprapriat«l(attacficc|ieclule) 

25 Retained earnings - unappropriated 

2 8 equity (attach actiedule) 

27 Less cost of treasury stock 

28 Total ilabilities and ^rehofders' equity 

Schedule M-1 Reconciliation ol 

DBA MAKANI KAI HELICOPT 

Beginning of tax yaer 

(S| 

118.960 . 

( » 

,.••.•' • 

• • • • . • • 

2.810,325 . 

( 2.090.656 J 

f ) 

285.192 . 

( 192.731J 

20.000 . 

Income (Loss) per 

(b) 

127.411 . 

118,960 . 

135.227 . 

34.852 . 

. • • • 

719.669 . 

... 

92.461 . 

• 

1.228,580 . 

242.103 . 

127,000 . 

43.959 . 

949,162 . 

20,000 . 

<153,644 . 

( ) 

1.228.580 . 

Books With Income 

99-033000 1 P.9.S 

Endoftaxyeer 

le) 

93.416 . 

( ) 

• • • 

4.808.929 . 

t 2.693.771 J 

f 1 

326,447 . 

( 211.739J 

20,000 . 

>..;••, • 

per Retum 

(d) 

204.111 . 

93,416 . 

109.373 . 

2,115,158 . 

114.708 . 

2,636,766 . 

50,502 . 

220,000 . 

53.785 . 

202,270 . 

2,378,920 . 

20.000 . 

<288,711.> 

t 1 

2,636.766 . 

^ 

Note: Schedule M-3 required instead of Schedule M-1 if total assets are $10 million or more - see instructions 

1 Net income (loss) pir books 

2 Federal Income tax per books 

3 Excess of capital losses over capital gains 

4 income aubjael to tax n«t recorded on booke Ifiie year 

(itemize): j 

5 Expenses recorded ({in 

deducted on this retgrn 

a Depreciation 

. CtMrtteMe 

D contributloM . 

Travel and 

C enlirtaininent 

STMT 9 

6 Add lines 1 throupfi 

books this year not 

(itemize): 

$ 80,329 . 

1.200 . 

2.906 . 

6,070 . 

<135,067, >7 Income recorded on books this year not 

included on this return (itemize): 

Tax-exempt interest $ 

9Q,5p5 

^44,5$? 

8 Deductions on this return not charged 

against book income this year (itemize): 

< Depreciation $_ _ 

. $ 

h Charitabla 

l> oontrfbutlonc 

9 Add lines 7 and 8 

ao Income (page 1. line 28) - line 6 less line 9 <44.562.> 

Schedule M-2 Analysis of Unappropriated Retained Earnings per Books (Line 25. Schedule U 

1 Balance at beginnlnd of year 

2 Net income (loss) per books 

3 Other increases (itenliize): _ 

4 Add lines 1,2. and 31 

<153,644. 

<135,067. 

>5 Distributions: s Cash 

> b Stock.... 

e Property 

6 Other decreases (itemize): 

<288.711. 

7 Add lines 5 and 6 

>6 Balance at end of vear (line 4 less line 71 <288.711.> 

12-31.08 '''" " Form 1120 (2008) 

110320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
l=orm 4562 

Depertment of ttie Treaaury 

Internal Revenue Service (88) 

Depreciation and Amortization 

(Including Information on Listed Property OTHER 

• 8g« separate instructJons. • Attach to your tax retum. 

OMB No. 1545-0172 

2008 

Attachment 

Secjuenoe No. 6 7 

Name(e) ehown on return 

SCHUMAN AVIATION 

DBA MAKANI KAI HELICOPTERS 

Bualnasa or activity to wlticti Uila Itarm relates 

IPTHBR PBPRgCXATlQN 

Identifying number 

99-0330001 

Partl j Elsctton To Expense Certain Property Under Section 179 Mote: If you have any listed pmperty, complete Part V before you complete Part I. 

1 Maximum amount. See ttie instructions for a higher limit for certain businesses 

2 Total cost of sectk^n 179 property placed in service (see instmctions) 

3 Threshold cost of sectk)n 179 property before reduction in limitation 

4 Reductton in limitation. Subtract line 3 from line 2. If zero or less, enter -0-

5 Dollar limitation for tax veer. Subtract line 4 from line 1. If u m or lesa. enter -0-. If married fl Ino aeparatelv. i »instructlona 

250.000, 

969,671 

800,000, 

169,671, 

80,329 

6 (a) Deecriptlon of property (b) Coat (bualness uee only) (0) Elected coet 

HELICOPTER-EUROCOPTER AS 350 BA 850,000 80,329 

7 Usted property. Enter the amount from line 29 | 7 

8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 

9 Tentative deduction. Enter the smaller of line 5 or line 8 

10 Canyover of disallowed deduction from line 13 of your 2007 Form 4562 

11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 

12 Sectkin 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 

13 Canryover of disallowed deduction to 2009. Add lines 9 and 10. less line 12 • 13 

80,329 . 

80,329 . 

ja. 

11 0 . 

12 

80.329 

Note; Do not use Part H or Part III betow for listed property. Instead, use Part V. 

Part III Special Depreciation Allowance and Other Depreciation (Do not include listed property!) 

14 Special depreciatton for qualified property (other than listed property) placed in servtoe during the tax year 

15 Property subject to sectton 168(f)(1) election 

|16 Other depreciation (Including ACRS^ 

Part III j] MACRS Depreciation (Do not include listed property.) (See instmctions.) 

14 

15 

16 

59.836, 

Section A 

17 h^ACRS deductions for assets placed in service In tax years beginning before 2(X)8 

1 8 If YOU are elecUno to aroup any aasatablaoed In aervlce during tlie tax veer into one or more General aaastaceounte. check iiere ^ I | 

17 288.075 . 

Section B - Assets Placed in Service During 2008 Tax Year Using the General Depreciation System 

(a) Ciaaalflcatlan of property 

19a 3-year property 

b 5-year property 

c 7-year property 

d 10-year property 

e 15-year property 

f 20-year property 

a 25-year property 

h Residential rental property 

1 Nonresidential real property 

(D) Month end 

yearplapwl 

Ineervloe 

/ 

/ 

08/08 

1 

(e)Baale tor depreciation 

only - eee Instructione) 

802.894 . 

26.612 . 

1.028.932 . 

(d) Recovery 

period 

5 

7 

25 yrs. 

27.5 yrs. 

27.5 yrs. 

39vrs. 

(e) Convention 

HY 

HY 

MM 

MM 

MM 

MM 

(0 Method 

20 ODE 

20 ODE 

SA. 

S/L 

S/L 

S/L 

S/L 

(g) Depreciation deduction 

160.579 . 

3.802 . 

9.894 . 

Section C - Assete Placed In Service During 2008 Tax Year Using the Alternative Depreciation System 

20a Class life 

b 12-yoar 

c 40-year / 

12 yrs. 

40 yrs. MM 

sn. 

S/L 

S/L 

Part IV1 Summary (See instmctions.) 

21 Listed propsrty. Enter amount from line 

22 Totel. Add amounts from line 12, lines 1 

1 Enter here and on the appropriate lines i 

^ For assets shown above and placed in s 

Dortion of the basis attributable to sectic 

28 

4 through 17, lines 19 and 20 in column (g), and line 21. 

jf your retum. Partnerships and S con3oratlons - see instr 

ervice during th 

in263A costs.. 

a cunrent year, enter the 

_S21 

22 

600. 

522.786 . 

ii^B-os LHA For Paperwork Reduction Act Notice, see separate instructions. Fonn 4582 (2008) 

10320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
Fonn 4562 (2008) SCHUMAN AVIATION DBA MAKANI KAI HELICOPT 99-033000 1 Page 2 

Party Listed Property (Include automobiles, certain other vehicles, cellular telephones, certain computers, and property used for entertainment, 

recreation, or amusement.) 

Note: For any vehtole for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 24b, columns (a) 

thmuah fc) of Section KeUof Section B. and Section C If apDlicable. 

^^Sectio n A - Depreciation and Other Information (Caution: See the Instructions for limits for passenger automobiles.) 

^|B4 a Do you have evidence to support the business/investment use claimed? 1 ^ Yes 

(a) 

Type of property 

(list vehicles first) 

(b) 

Date 

placed in 

sennce 

(c) 

Business/ 

investment 

use percentage 

(d) 

Cost or 

other basis 

No 

(•) 

Basis tcr depreciation 

(business/lnvaatment 

uee only) 

24b If 'Yes.' is the evidence written? 

m 

Recovery 

period 

(a) 

Method/ 

Convention 

SlYesL No 

(h) 

Depreciation 

deduction 

W 

Elected 

section 179 

cost 

25 Special depreciation allowance for qualified listed property placed in service during the tax year and 

used more than 50% in a qualified business use 25 

26 Property used more than 50% in a qualified business use; 

% 

SEE STATEMEN EMEt T 10 % 600 . 

% 

27 Property used 50% or less in a qualified business use: 

% 

% 

% 

S/LS/LS/L28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 

29 Add amounts in column (1). line 26. E nter here and or nine7,panel „ 

2? 600. 

Section B - Information on Use of Vehicles 

Complete this section for vehicles used by a sole proprietor, partner, or other 'more than 5% owner,' or related person. 

If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for 

those vehicles. 

30 Total business/investment miles driven during the 

year (do not include commuting miles) 

31 Total commuting miles driven during the year .. 

32 Total other personal (noncommuting) miles 

i driven 

^ Total miles driven during the year. 

Add lines 30 through 32 

34 Was the vehicle available for personal use 

during off-duty hours? 

35 Was the vehicle used primarily by a more 

than 5% owner or related parson? 

36 Is another vehicle avaiiable for personal 

use? 

(a) 

Vehicle 

Y ^ No 

(b) 

Vehicle 

Yes No 

(c) 

Vehicle 

Yes No 

(d) 

Vehicle 

Yes No 

(e) 

Vehicle 

Yes No 

(f) 

Vehicle 

Yes No 

Section C • Questions for Employers Who Provide Vehicles for Use by Their Employees 

Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are not more than 5% 

owners or related persons. 

37 Do you nnaintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your 

employees? 

38 [X> you niaintain a written policy statement that prohibits personal use of vehicles, except commuting, by your 

employees? See the instmctions for vehicles used by corporate officers, directors, or 1 % or more owners 

39 IDo you treat ail use of vehicles by employees as personal use? 

40 Do you provide more than five vehicles to your employees, obtain information from your employees about 

the use of the vehicles, and retain the information received? 

41 Do you meet the requirements conceming qualified automobile demonstration use? 

Note: If your answer to 37.38.39,40.or41is 'Yes.' do not complete Section B for the covered vehicles. 

Yes No 

Part VI Amortliatlon 

(a) 

Deecriptlon of costs 

(b) 

DtttMoHtaiilaii 

biftai 

(c) 

Amortlzsble 

amount 

(cQ 

Code 

aactlon 

(e) 

Amoitiation 

peiiod or percentage 

(f) 

Amortization 

for thie year 

f SEE STATEMENT 11 

^43 Amortization of costs that began before your 2008 tax year 

notions for where to report 

43 

44 

3.328 . 

15.680 . 

19,008. 

818292 11-08-06 Form 4662 (2008) 

10320629 797060 SCHIMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
^ 8827 

Department of the Treaaury 

Internal Revenue Service 

Creciit for Prior Year Minimum Tax - Corporations 

^ Attach to the corporation't tax return. 

N«"e SCHUMAN AVIATION 

1 DBA MAKANI KAI HELICOPTERS 

1 Alternative minimum ta 

2 Minimum tax credit cai 

3 Enter any 2007 unaltov 

4 Add lines 1,2, and 3 

5 Enter the corporation's 

Instructions) 

6 Is the corporation a'sr 

• Yes. Enter 25% of tf 

• No. Complete Form 

7a Subtract line 6 from lin 

b For a corporation electl 

amount atb-lbutable to 

c Add lines 7a and 7b 

8a Enter the smaller of lin 

or has pre-acquisition 

b Current year minlmun 

Schedule J, line 5d (or 

line 8c. (}thenvise, siclp 

c Subtract line 8b from 1 

the minimum tax credil 

1 your return) 

ix (AMT) for 2007. Enter the amount from line 14 of the 2007 Form 4626 

Tyforward from 2007. Enter the amount from line 9 of the 2007 Form 8827 

rad qualified electric vehicle credit (see instructions) 

2008 regular Income tax liability minus allowable tax credits (see 

nail corporation' exempt from the AMT for 2008 (see instructions)? 

e excess of line 5 over $25,000. If line 5 is $25,000 or less, enter -0-

1626 for 2008 and enter the tentative minimum tax from line 12 

e 5. If zero or lass, enter-0-

ng to accelerate the ntinimum tax credit, enter the bonus depreciation 

the minimum tax credit (see Instructions) 

e 4 or line 7c. If the corporation had a post-1986 ownership change 

excess credits, see instructions 

1 tax credit. Enter the smaller of line 4 or line 7a here and on Form 1120, 

the applicable line of your return). If you made an entry on line 7b, go to 

line 8c 

ne 8a. This is the refundable amount for a corporation electing to accelerate 

L Include this amount on line 32g of Form 1120 (or the applicable line of 

' 9 Minimum tax credit carryfonward to 2009. Subtract line 8a from line 4. Keep a record of this 

amount to carrv fonrard and useiin future years 

OMB No. 1546-1257 

2008 

Employer identification number 

99-0330001 

1 

2 

3 

4 

5 

6 

7a 

7b 

7c 

8a 

8b 

8e 

9 

3.195 . 

3.195 . 

0. 

0 . 

0 . 

0 . 

3.195 . 

JWA 

820281 

01-23-08 

8 

Form 8827 (2008) 

10320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
SCHUMAN AVIATION DBA MAK '. KAI HELICOPT 99-0330001 

FORM 1120 OTHER INCOME STATEMENT 

^CRIPTION 

HAWAII TAX REFUND - BASED ON INCOME 

TOTAL TO FORM 1120, LINE 10 

AMOUNT 

30,867. 

30,867. 

FORM 1120 TAXES AND LICENSES STATEMENT 

DESCRIPTION 

GENERAL EXCISE TAX 

PROPERTY TAXES 

LICENSES & PERMITS 

TOTAL TO FORM 1120, LINE 17 

AMOUNT 

8,704. 

4,648. 

515. 

13,867. 

CURRENT YEAR CONTRIBUTIONS STATEMENT 

DESCRIPTION 

[•RIBUTIONS 

TOTAL CURRENT YEAR CONTRIBUTIONS 

AMOUNT 

1,200. 

1,200. 

9 STATEMENT(S) 1, 2, 3 

10320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
SCHUMAN AVIATION DBA MAK I KAI HELICOPT 99-0330001 

CONTRIBUTIONS STATEMENT 

QUALIFIED CONTRIBUTIONS SUBJECT TO 100% LIMIT 

CONTRIBUTION SUBJECT TO LIMITATION: 

CARRYOVER OF PRIOR YEARS UNUSED CONTRIBUTIONS 

FOR TAX YEAR 2003 

FOR TAX YEAR 2004 

FOR TAX YEAR 2005 

FOR TAX YEAR 2006 

FOR TAX YEAR 2007 

TOTAL CARRYOVER 

CURRENT YEAR CONTRIBUTIONS 

TOTAL CONTRIBUTIONS AVAILABLE 

TAXABLE INCOME LIMITATION AS ADJUSTED 

EXCESS CONTRIBUTIONS 

ALLOWABLE CONTRIBUTIONS DEDUCTION 

TOTAL CONTRIBUTION DEDUCTION 

1,200 

1,200 

0 

1,200 

10 STATEMENT(S) 4 

10320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
SCHUMAN AVIATION DBA MAK I KAI HELICOPT 99-0330001 

FORM 1120 OTHER DEDUCTIONS 

^CRIPTION 

AIRCRAFT OPS COSTS 

AMORTIZATION 

BANK CHARGES 

EQUIPMENT RENTAL 

INSURANCE 

MEALS AND ENTERTAINMENT 

OFFICE SUPPLIES 

OUTSIDE SERVICE 

PRINTING AND REPRODUCTIONS 

PROFESSIONAL DEVELOPMENT 

PROFESSIONAL FEES 

TELEPHONE 

TOUR COSTS 

TRAVEL 

UTILITIES 

VEHICLE EXPENSES 

TOTAL TO FORM 1120, LINE 26 

NET OPERATING LOSS DEDUCTION 

^ LOSS 

^ r PREVIOUSLY LOSS 

TAX YEAR LOSS SUSTAINED APPLIED REMAINING 

12/31/02 125,122. 125,122. 0. 

12/31/04 76,305. 54,426. 21,879. 

12/31/07 81,365. 81,365. 

NOL AVAILABLE THIS YEAR 103,244. 

SCHEDULE L OTHER CURRENT ASSETS 

BEGINNING OF 

DESCRIPTION TAX YEAR 

UNDEPOSITED FUNDS 6,761. 

OPERATING SUPPLIES 6,301. 

STATE INCOME TAX RECEIVABLE 14,284. 

FEDERAL INCOME TAX RECEIVABLE 5,381. 

DEPOSIT 102,500. 

TOTAL TO SCHEDULE L, LINE 6 135,227. 

STATEMENT 5 

AMOUNT 

860,758. 

19,008. 

14,456. 

5,098. 

80,950. 

2,906. 

45,040. 

24,680. 

12,913. 

21,166. 

64,615. 

17,816. 

18,155. 

16,397. 

16,001. 

61,746. 

1,281,705. 

STATEMENT 6 

AVAILABLE 

THIS YEAR 

0. 

21,879. 

81,365. 

103,244. 

STATEMENT 7 

END OF TAX 

YEAR 

40. 

6,301. 

45,151. 

5,381. 

52,500. 

109,373. 

10320629 797060 SCHUMANAVIAT 

11 STATEMENT(S) 5, 6, 7 

2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
SCHtJMAN AVIATION DBA MAK E KAI HELICOPT 99-0330001 

SCHEDULE L OTHER CURRENT LIABILITIES STATEMENT 8 

S SCRIPTION 

ACCRUED LIABIIJITIES 

ACCRUED PAYROIJL 

ACCRUED GENARi^ EXCISE TAX 

TOTAL TO SCHEDtJLE L, LINE 18 

BEGINNING OF 

TAX YEAR 

11,580. 

31,603. 

776. 

43,959. 

END OF TAX 

YEAR 

12,892. 

36,117. 

4,776. 

53,785. 

SCHEDULE M-1 OTHER EXPENSES RECORDED ON BOOKS 

NOT DEDUCTED IN THIS RETURN 

STATEMENT 

DESCRIPTION i 

[ 

LIFE INSURANCE! 

PENALTIES j 

STOCKHOLDER ACCRUED INTEREST 

TOTAL TO SCHBDijLE M^l, LINE 5 

AMOUNT 

5,146. 

151, 

773. 

6,070. 

^ U I 4562 LISTED PROPERTY INFORMATION-MORE THAN 50% STATEMENT 10 

(A) (B) (C) (D) (E) (F) (G) (H) (I) 179 

DESCRIPTION DATE BUS. % COST BASIS LIFE MTH/CV DEDUCTION ELECTED 

(K) (L) (M) (N) (0) (P) (Q) 

TOTAL BUSINESS COMMUTING PERSONAL WAS VEH. > 5% ANOTHER VEH. 

MILES MILES MILES MILES AVAIL.? OWNER? AVAILABLE? 

Y N Y N Y N 

1995 FORD 10^15/96 

VAN 100.00 10,000. 10,000. 5 200DBMQ 

COMPUTER & 10/01/96 

SOFTWARE I 100.00 5,000. 5,000. 5 200DBMQ 

2004 SUBARU 01/01/05 100.00 8,163. 5,203. 5 200DBMQ 600. 

I 

i • 

TOTALS TO FORM(4562, PART V, LINE 26 600. 

12 STATEMENT(S) 8, 9, 10 

10320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
' SgaUMAN AVIATION DBA MAI II KAI HELICOPT 99-0330001 

FORM 4562 PART VI - AMORTIZATION STATEMENT 11 

(A) i 

DESCRIPTION OF COSTS 

LOAN FEES 

LOAN FEES 

LOAN FEES 

TOTAL TO FORM 14562, LINE 42 

(B) 

DATE 

BEGAN 

03/17/08 

05/12/08 

05/28/08 

! 42 

(C) 

AMORTIZABLE 

AMOUNT 

26,756. 

414. 

14,084. 

(D) 

CODE 

SECTION 

(E) 

PERIOD/ 

PERCENT 

10 

5 

9 

(F) 

AMORTIZATION 

THIS YEAR 

2,230. 

55. 

1,043. 

3,328. 

13 STATEMENT(S) 11 

10320629 797060 SCHUMANAVIAT 2008.03060 SCHUMAN AVIATION DBA MAKANI SCHUMAOl 
& 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 ofthe 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; (11) 

a piece of paper either placed in the ticket envelope with the ticket or attached to the ticket; or (ill) 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 

[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, 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 carriage. For further 

Information please consult your alrilne 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 (12) months' written notice of withdrawal to DOT 

and the other Carriers parties to the Agreement. 

(Signature and Date) 

•Either alternative may be used. 

(Printed Name and Title) Kj^cJlk<i^4. ^g-/t^»*/t4v/ ^te^^^^ti^ T 

(Name and Address of Carrier) Z>AAUIV\A-* 4 ^srJuaj-Jfi,^ COi^p^i^ , A4<L 

OST Form 4523 (Formerly CAB Form 263) /%fO 'J^io/^Ldi^ fPluiCf ^ 

iJf^l^Ulu, /^kLUJ'«)r'-^' ^0/ f 
Approved by OH/IB 

OMB No. 2106-0031 

Expires: 6/30/99 

AGENCY DISPLAY OF ESTIMATED BURDEN 

The public reporting burden for this collection of information is estimated to average 30 minutes per response. If you wish to 

comment on the accuracy of the estimate or make suggestion is for reducing this burden please direct your comments to the U.S. 

Department of Transportation. Office of Aviation Analysis, X-56 400 7"^ Street, S.W.. Washington. D.C. 20590 

PAPERWORK REDUCTION ACT OF 1995 

Under the Paperwork Redgction Act of 1995, no persons are required to respond to a collection of Information unless it 

displays a valid OMB control number. The OMB control number is displayed In the upper right-hand corner of this form 

K M AIR TAXI OPERATOR AND COMMUTER AIR CARRIER 

^ REGISTRATION AND AMENDMENTS UNDER 

T;ansport~ °' PART 298 OF THE REGULATIONS OF 

Office of the Secretary THE DEPARTMENT OF TRANSPORTATION 

of Transportation 

Air taxis: Submit this form In duplicate to the Federal Aviation Administration, Air Transportation 

Division AFS-200, 800 Independence Avenue S.W., Washington, D.C, 20591. 

Commuters: Submit this form in duplicate to Department of Transportation, Air Carrier Fitness 

Division, X-56, Office of Aviation Analysis, 400 7th Street, S.W., Washington, D.C. 20590. 

Fees: The fee for the Initial registration of an air taxi is $8, The fee for an Initial registration of a 

commuter is $670. Checks, drafts, or postal money orders should be payable to DOT. There is no 

filing fee for amendments to forms previously filed. 

la. Name {and DBA, if appiicabie) and Mailing Address ofthe Registering Carrier: 

SCHUMAN AVIATION COMPANY LTD 

130 lolana Place 

Honolulu, Hawaii 96819 

1b. Telephone No. 808-834-5813 Fax No. 808-837-7867 

2a. Address of principal place of business (if different from above): 

Same 

2b. Telephone No. Fax No. 

FOR USE BY DOT ONLY 

Effective date of registration/amendments 1 

3a. Federal Aviation certificate number 

3b. Address of local FAA office: 

Federal Aviation Administration 

Honolulu Flight Standards District 

135 Nakolo Place 

Honolulu, Hawaii 

96819 

3c. FAA Telephone No.: 

808-837-8300 

3d. FAA Principal Operations Inspector: 

Glno Rezzonico 

4. This filing is the carrier's: 

1 1 Initial Registration | 3 Amendment to reflect changes since previous filing (Complete Item 9) 

If Initial registration, give proposed date of commencement of operations: 

5. Check type or types of service the carrier intends to perform upon commencement of operations, or, for amendments, service the carrier is currently 

performing: 

V^ Scheduled passenger* ^ On-demand passenger [_] Air ambulance 

1 1 Scheduled cargo ^ On-demand cargo CH Seasonal 

1 1 Mall under a U.S. Postal Service contract d ] Other (Please specify)** 

* Check only if service is of at least five (5) round trips per week on at least one route between two or more points and is operated pursuant to 

published flight schedules which specify the times, days of the week, and places between which such flights are performed. If the registrant has 

not previously been found "fit, willing an able" to perform scheduled passenger service as a commuter, this registration should be accompanied 

by the evidence required by 14 CFR 204.3 and. If applicable, 204.4. 

** For example, if the carrier perfonns other sen/ices such as fire fighting operations for the U.S. Forest Sen/ice, It should be indicated here. 

OST Form 4507 (Rev. 2-93) 
0. Aircraft wlijcli IIle carrier proposes to operate In air taxi or commuter service or, for aniendments. 7. Is the registering carrier a U.S. citizen? 

Aircraft Make and Model 

1. Eurocopter AS350BA 

2. Piper PA31-350 

3. Piper PA31-350 

4. Cessna 208B Caravan 

FAA Registration Number 

N6077H 

N135PB 

N351CA 

Passenger Seats 

Installed 

N687MA 

5. Cessna 208B Caravan N865MA 

U^o^o 

(Add additional sheets if necessary) 

*This does not include seats occupied by ttie pilot or co-pilot unless the latter is available for passenger use. 

YES D NO 

NOTE: An air taxi or commuter registered under Part 

298 must be a citizen of the United States. The Federal 

Aviation Act defines a citizen as (a) an individual who is 

a U.S. citizen; (b) a partnership of which each member 

is a U.S. citizen; or © a corporation of which the 

President and two-thirds or more of the Officers and 

Directors are U.S. citizens and at least 75 percent of the 

voting interest is owned or controlled by U.S. citizens. 

8. If this is an amendment, has the carrier carried 

passengers in foreign air transportation, that is, 

between any point in the United States and any point 

outside thereof, during the past 12 months: 

n YES Kl NO 

9. REPORT CHANGES OR AMENDMENTS TO INFORMATION PREVIOUSLY FILED WITHIN 30 DAYS OF THE EFFECTIVE DATE: 

a. Change in Carrier's Name and/or Address (Please specify): 

Former Name and Address: Current Name and Address: 

Schuman Aviation Company Ltd. dba 

Makani Kai Helicopters 

Ko' Olina Helicopters 

Pacific Air Express 

Makani Kai Air Charters 

b. Description of Any Other Changes or Amendments (Including additions or deletions of aircraft, change in type of operations, registration 

numbers, etc.): 

Appl y for Commute r 135 Schedule d Service 

10. Certification 

I certify that the information contained in this application is complete and accurate to the best of my knowledge. If 

operating as a commuter air carrier or in foreign air transportation or participating in an interline agreement, the 

carrier subscribes to Agreement 18900 (see OST Form 4523), and in accordance with that Agreement agrees that a 

liability limit of not less than $75,000 shall apply under Article 22(1) of the Warsaw Convention for passenger injury or 

death in international transportation as defined in the Convention. 

Signature: ^ y ^ CA^— 

(See note) 

Date: November 25, 2009 

Place: Honolulu, Hawaii 

Name: 

Title: 

G. Richard Schuman 

(Please type) 

President 

(City and State) 

NOTE: This registration mus t be signed b y a responsible officer, such as the President, Vice President, Secretary o r Treasurer, or 

partner or owner o f the carrier 

TO INSURE PROPER PROCESSING OF THIS REGISTRATION, PLEASE COMPLETE THIS FORM IN ITS ENTIRETY. 
Approved by OMB 

OMB No. 2106-0031 

Expires: 6/30/99 

AGENCY DISPLAY OF ESTIMATED BURDEN 

The public reporting burden for this collection of Information is estimated to average 30 minutes per response. If you wish to 

comment on the accuracy of the estimate or make suggestion is for reducing this burden please, direct your comments to the U.S. 

Department of Transportation. Office of Aviation Analysis. X-56 400 7*^ Street. S.W.. Washinaton. D.C. 20590 

PAPERWORK REDUCTION ACT OF 1995 

Under the Papera/ork Reducfion Act of 1995, no persons are required to respond to a collection of information unless it 

displays a valid OMB control number. The OMB control number Is displayed in the upper right-hand corner of this form 

R B AIR TAXI OPERATOR AND COMMUTER AIR CARRIER 

^ ^ REGISTRATION AND AMENDMENTS UNDER 

TransportatTon"* °* PART 298 OF THE REGULATIONS OF 

Office ofthe Secretary THE DEPARTMENT OF TRANSPORTATION 

of Transportation 

Air taxis: Submit this form in duplicate to the Federal Aviation Administration, Air Transportation 

Division AFS-200, 800 Independence Avenue S.W., Washington, D.C. 20591. 

Commuters: Submit this form in duplicate to Department of Transportation, Air Carrier Fitness 

Division, X-56, Office of Aviation Analysis, 400 7th Street, S.W., Washington, D.C. 20590. 

Fees: The fee for the initial registration of an air taxi is $8. The fee for an initial registration of a 

commuter is $670. Checks, drafts, or postal money orders should be payable to DOT. There is no 

filing fee for amendments to fomis previously filed. 

1 a. Name {and DBA, if appiicabie) and Mailing Address of the Registering Carrier: 

SCHUMAN AVIATION COMPANY LTD 

130 lolana Place 

Honolulu, Hawaii 96819 

lb. Telephone No. 808-834-5813 Fax No. 808-837-7867 

2a. Address of principal place of business (if different from above): 

Same 

2b. Telephone No. Fax No. 

FOR USE BY DOT ONLY 

Effective date of registration/amendments 

3a. Federal Aviation certificate number 

3b. Address of local FAA office: 

Federal Aviation Administration 

Honolulu Flight Standards District 

135 Nakolo Place 

Honolulu, Hawaii 

96819 

3c. FAA Telephone No.: 

808-837-8300 

3d. FAA Principal Operations Inspector: 

Gino Rezzonico 

4. This filing is the carrier's: 

L J Initial Registration ^ Amendment to reflect changes since previous filing (Complete Item 9) 

If initial registration, give proposed date of commencement of operations: 

5. Check type or types of service the carrier intends to perform upon commencement of operations, or, for amendments, service the carrier is currently 

perfomning: 

^ Scheduled passenger* ^ On-demand passenger [ H Air ambulance 

1 1 Scheduled cargo ^ On-demand cargo [ H Seasonal 

1 1 Mail under a U.S. Postal Service contract [ H Other (Please specify)'* 

* Check only if service Is of at least five (5) round trips per week on at least one route between two or more points and is operated pursuant to 

published flight schedules which specify the times, days of the week, and places between which such flights are performed. If the registrant has 

not previously been found "fit, willing an able" to perfomn scheduled passenger sen/ice as a commuter, this registration should be accompanied 

by the evidence required by 14 CFR 204.3 and, if applicable, 204.4. 

** For example, if the carrier performs other services such as fire fighting operations for the U.S. Forest Service, it should be indicated here. 

OST Form 4507 (Rev. 2-93) 
0. Aircraft which the carrier propeaea to operate in air taxi or commuter service or, for amendwenta. 7. la the registering aarrier a U.O. citizen? 

Aircraft Make and Model 

1. Eurocopter AS350BA 

2. Piper PA31-350 

3. Piper PA31-350 

4. Cessna 208B Caravan 

FAA Registration Number 

N6077H 

N135PB 

N351CA 

Passenger Seats 

Installed 

N687MA 

5. Cessna 208B Caravan 

4 CrMgfl ?4f4iR ai^^lri^roft 

N865MA 

jLom^o 

(Add additional sheets if necessary) 

This does not include seats occupied by the pilot or co-pilot unless the latter is available for passenger use. 

YES n NO 

NOTE: An air taxi or commuter registered under Part 

298 must be a citizen of the United States. The Federal 

Aviation Act defines a citizen as (a) an individual who is 

a U.S. citizen; (b) a partnership of which each member 

is a U.S. citizen; or © a corporation of which the 

President and two-thirds or more of the Officers and 

Directors are U.S. citizens and at least 75 percent of the 

voting interest is owned or controlled by U.S. citizens. 

8. If this is an amendment, has the carrier carried 

passengers in foreign air transportation, that is, 

between any point in the United States and any point 

outside thereof, during the past 12 months: 

D YES ^ NO 

9. REPORT CHANGES OR AMENDMENTS TO INFORMATION PREVIOUSLY FILED WITHIN 30 DAYS OF THE EFFECTIVE DATE: 

a. Change in Carrier's Name and/or Address (P/easespec/^;; 

Former Name and Address: Current Name and Address: 

Schuman Aviation Company Ltd. dba 

Makani Kai Helicopters 

Ko' Olina Helicopters 

Pacific Air Express 

Makani Kai Air Charters 

b. Description of Any Other Changes or Amendments (including additions or deletions of aircraft, change in type of operations, registration 

numbers, etc.): 

Apply for Commuter 135 Scheduled Service 

10. Certification 

I certify that the information contained in this application is complete and accurate to the best of my knowledge. If 

operating as a commuter air carrier or in foreign air transportation or participating in an interline agreement, the 

carrier subscribes to Agreement 18900 (see OST Form 4523), and in accordance with that Agreement agrees that a 

liability limit of not less than $75,000 shall apply under Article 22(1) of the Warsaw Convention for passenger injury or 

death in international transportation as defined in the Convention. 

Signature: y^^^.(iA^— 

(See note) 

Date: November 25, 2009 Name: 

Place: Honolulu, Hawaii Title: 

(City and State) 

G. Richard Schuman 

(Please type) 

President 

NOTE: This registration must be signed by a responsible officer, such as the President, Vice President, Secretary or Treasurer, or 

partner or owner of the carrier 

TO INSURE PROPER PROCESSING OF THIS REGISTRATION, PLEASE COMPLETE THIS FORM IN ITS ENTIRETY. 
MAKANI KAI HELICOPTERS 

Honolulu International Airport 

110 Kapalufu Place, 

Honolulu, Hawaii 96819 

Plione: (808) 834-5813 Fax: (808) 837-7867 

Makanikai.com 

December 10, 2009 

Mr. Gino D. Rezzonico 

Principal Operations Inspector 

Federal Aviation Administration 

Honolulu Flight Standards District Office 

135 Nakolo Place 

Honolulu, Hawaii 96819 

RE: Pre-Application of Intent to conduct Part 135 Scheduled Commuter Service 

Dear Inspector Rezzonico 

Schuman Aviation Company Ltd, Air Carrier Certificate Number MKHA108K, would 

inform you of our intention to precede fulfilling the application process to move from 

Part 135 "On Demand" to Part 135 Scheduled Commuter Service. 

Enclosed is my Pre Application Statement of Intent FAA Form 8400-6 

Per the requirement by the DOT for initial filing of intent for service, I am informing my 

POI of our intentions and provide you with a brief explanafion. 

If you have any questions, I can be reached at 306-1000 

I am available at your soonest convenience for further discussion 

Sincerely 

/M^ J 

Richard Schuman 

President 
Fonn Approved 

OMB No. 2120-0593 

01/31/2008 

e PREAPPLICATION STATEMENT OF INTENT 

u s Department of Transportation 

Federal Aviation Administration 

Paperwork Reduction Act Statement: Title 49 U.S.C, Section 44702 empowers ttie Secretary of Transportation to issue air earner operating certificates and to establisti minimum safety standards for the 

operation of ttie air carrier to wiiom such certificates are issued. The compieted Preappiicatlon Statement of intent (PASI) denotes an intent by the applicant to continue the certificalion process. The local 

FAA Flight Standanjs District Office (FSDO) uses the PASI to evaluate the complexity of the proposed operation. The FAA will use the infomnation it collects and reviews to ensure compliance and 

adherence to regulations and, if necessary; take enforcement action on violators of the regulations. The FAA estimates the average burden for this certificate application process, to include processing of 

this fonn, is 96 hours. Respondents have been given no assurance of confidentiality. An agency may not conduct or sponsor, and a person is not required to respon to a collection of information unless it 

displays a cunently valid OMB control number. The OMB control number associated with this collection is 2120-0593. Comments conceming the accuracy of this burelen and suggestions for reducing the 

butuen should be directed to the FAA at: 800 Independence Ave SW. Washington. DC 20S91. Attn: Infoimation Collection Clearance OfTicer. ABA-20. 

Section 1A. To Be Completed By All Applicants 

1. Name and mailing address of company 

Schuman Aviation Company Ltd 

130 lolana Place 

Honolulu, Hawaii 96819 

2. Address of principal base where operations will be conducted 

(do not use post office box) 

Same 

3. Proposed Start-up date 

March 2010 

4. Requested three-letter company identifier in order of preference 

1. 2. 3. 

5. Management Personnel 

Name (Last, first, middle) Title Telephone (including area code) 

Richard Schuman 

Diane Schuman 

Clyde Kawasaki 

Kyle Gray 

Eiki Miyasato 

Mike Iven 

President 

Vice President Treasure 

Director of Operations 

Instructor Pilot 

Chief Pilot 

Director of Maintenance 

808-306-1000 

808-262-2229 

808-753-6369 

808-255-9376 

808-306-1005 

808-384-3329 

Section IB. To Be Completed By Air Operators 

6. Proposed type of operation (check as many as appiicabie) 

C J Air Carrier Certificate 

L J Operating Certificate 

D Partial 

• Part 125 

S Part 135 

Section IC. To Be Completed By Air Agencies 

l El Passengers and Cargo 

L J Cargo Only 

[ £ l Scheduled Operations 

li! ^ Nonscheduled Operations 

L J Single Pilot Operator 

uSi Single Pilot-in-Command Operator 

L J Basic Part 136 Operator 

OOULIUII lu . i w OV wuilipiuiv u a y Mi l M^t; 

7. Proposed type of agency and rating(s) 

n Part 145 Repair Station 

Q Domestic 

L J Foreign D New D Renew 

D Satellite 

L J Airframe 

Q Povuerplant 

L J Propeller 

L J Radio 

L J Instrument 

L J Accessory 

L J Specialized Service 

I I Part 147 Maintenance Technical School 

I I Airframe 

L J Powerplant 

D Both 

n Part 149 Parachute Loft 

Section ID. To Be Completed By Air Operators 

8. Aircraft Data 

Numbers and types of aircraft 

(by make, model, and series) 

Two - Piper Chieftains PA31-350 

Number of passenger seats or 

cargo payload capacity 

Nine Passenger 

9. Geographic area of Intended operations 

Conduct five flights per day, seven days a week 

operations between the Honolulu International Airport 

Commuter Terminal Area and the Princeville Airport in 

the island of Kauai. 

F A A For m 8400- 6 (6-96) supersedes Previous, Edition NSN0052-00-889-4002 
Section IE. To Be Completed By All Applicants 

10. Additional information that provides a better understanding of ttie proposed operation or business (attach additional sheets, if necessary) 

Schuman Aviation Company Ltd. has been solicited by Island Air to conduct daily fight operations to and from the Honolulu International 

Airport and the Princeville Airport on the island of Kauai. 

This will be set up like a code share agreement. Island Air thru it's code share agreements with larger 121 Air Carriers will be able to 

offer service into Princeville. 

Currently the Princeville airport cannot accommodate Island Air's Dash 8 aircraft. By utilizing the smaller Piper Chieftain nine passenger 

aircraft, the Princeville area will now have daily dependable air service. 

Schuman Aviation Company Ltd working along with Island Air, will contract or assign Island Air to conduct the ticketing, scheduling, 

passenger terminal operations, baggage loading and unloading. 

Schuman Aviation Company Ltd. will remain and retain Operational Control of it's aircraft at all times. 

11. Ttie statements and information contained on this form denote an intent to apply for FAA certification. 

Signature 

fip^ i^cJ!^*'''^^ 

Date 

December 10, 2009 

Name and Title 

Richard Schuman - President 

S&Aion 2. To Be Compieted By FAA District Office 

Received by (district office): Date forwarded to Region: 

Date: 

For: 

n Action n Inforrhation only 

Remarks 

Section 3. To Be Compieted By Regional Office 

Received by: Precertification Number: 

Date: Date coordinated witti AVN-120: 

District office assigned responsibility: Date forwarded to district office: 

Remarks 

L 

FAA For m 8400-6 (6-95) supersedes Previous Edition NSN: 0052-00-889-4002 
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HELICOPTERS 

SINCE 1988 
.ieve tha t the a. .o.iia spirit is ITV 

...•.v--.:>.^' •'• • • •. it guides ou r actio.i.is 

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\ WELCOME^TO 

KANI 
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It is with great pleasure that I re-introciuce you to Mal<ani Kai Helicopters. 

We've been hard at vvorl< to improve every aspect of our operation. We've 

emerged better than ever and are proud to provide clients with service second 

to none. 

IVIakani Kai Helicopters has been here for more than 20 years, constantly 

seeking ways to improve the customer experience. In that time, we've learned 

a few things about what makes an event memorable and what makes the 

(iustomer want to come back. 

We've learned that the customer wants a clean, comfortable and modern 

^icle for transportation to and from their hotel; a spacious and inviting terminal ' 

tuCility with the comforts of home and spotless restrooms; safe, highly maintained 

and thoroughly reliable aircraft in the hands of experienced and knowledgeable pilots; 

and a fascinating and engaging aerial tour that leaves a lifetime of fond memories. 

Beyond that, we believe that the aloha spirit is more than a catch phrase: it guides 

our interactions with our guests and with you, our loyal customer. No request is too 

big, no expectation is too broad. Our reservationists have been with us for years and 

will do whatever it takes to make you a hero, in front of your customer. 

Thank you for thinking of us first. If you have not yet flown with us yet, please do so 

at your convenience so you can see for yourself what we're all about. 

Sincerely 

Richard & Diane Schuman 

Mayor's Award of Recognition 

Maknni K.ii ]H«lkopter» 

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m CHAMBER OF COMMERCE OF HAWAII Activities & Attractions 

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.it and .safety 

OUR 

COMMITMENT 

TO SAFETY 
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We are a proud member of TOPS, the Tour Operators Program of Safety. We adhere 

to more rigorous flight and safety standards than are required by the FAA. 

TOPS is an independent, private, non-profit organization with the mission to give the 

public access to scenic areas while in the care of safe and professional air tour operators. TOPS represents an unprecedented collaboration of helicopter tour operators 

sharing safety information and developing procedures to ensure members operate 

at the highest possible level of safety. 

Makani Kai Helicopters has established a Safety Management Program that includes 

outside professional safety management courses and ongoing safety training for 

f%rsonnel. We have a dedicated safety manager, are subject to both regular and 

Tihscheduled safety audits by independent auditors, schedule regular safety meetings 

with pilots and staff, and have clearly defined flight operation standards and weather 

minimums to provide safe and consistent day-to-day operations. 

Operators who are approved by TOPS have committed to the highest standards to 

ensure your customer's flight is safe, professional and enjoyable. 

Helicopter 

lAssoclatipnnternasl0.nal 

Makani Kai Helicopters is a recipient of the prestigious Platinum Safety Award frorn 

the Helicopter Association International (HAI). The award prograin aims to impi'ove 

the safety culture in the helicopter industry by encouraging recommended practices 

that are known to enhance aviation safety, In making the award, HAI recognized 

^lakani Kai's adherence to strict criteria and our commitment to the highest standards 

••i.^safety. Our certification under the program underscores our resolve to be the safest 

operator in Oahu skies, bar none. 

Proud members of 

the Tour Operators 

Program of Safety. 

Since t9d9 
3urA-Stars allow passengers to relax and enjoy 

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Meet the Eurocopter single-engine, six place AS350. The low vibration and exceptional 

visibility of the A-Star allow passengers to relax and enjoy a comfortable ride and a 

spectacular view. These aircraft were designed expressly for touring, with a spacious, 

wide open, air conditioned cabin, Bose noise canceling headsets, two-way communication between passengers and pilot, extra windows for premium viewing, and a DVD 

recording system to provide an excellent souvenir of every tour. 

This proven, technologically advanced helicopter has carried hundreds of thousands of 

tourists, business people and VIP's all over the world in optimal safety. 

The aircraft we fly have been upgraded with the more powerful and fuel efficient 

^ll'h'neywell LTS 101 600A3-A American engine. Other imprdvenients made in the 

"^Wcraft are significant enough to give the helicopters a new designation, FX-1. 

Among numerous other improvements, aircraft features now include: 

• A simplified electrical system with environmentally sealed 

connections that eliminate corrosion 

• An exceptionally reliable electroluminescent 

instrument lighting system 

Digital LCD power plant instruments 

providing clear, unmistakable indications 

An enlarged tail rotor and tail boom strake 

providing increased tail rotor authority 

350FX1 STC Specifications 

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Powerplant 

Powerplant Rating 

Gross Weight 

Empty Weight 

Useful Load 

Maximum Altitude 

Maximum Speed 

Cruising Speed 

Fuel Consumption 

Honeywell LTS 101 

650 shaft horsepower 

4961 lbs 

2750 lbs 

2210 lbs 

16,000 feet 

179 mph 

130 mph 

38 gallons per hour 
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OUR 

COMMITMENT 

TO MAINTENANCE 
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Maintaining our aircraft is a top priority with Makani Kai Helicopters. We select only 

the most intelligent, dedicated and experienced technicians to work on our aircraft, 

and then provide them with the best tools and the latest equipment to do the job 

right. The maintenance facility is a pristine, well-lighted and comfortable place to 

work, set up exactly how the technicians prescribe. 

Where others may see maintenance as a necessary evil, we see it as an opportunity 

to go the extra step. We spare no expense to ensure that things are done right. 

You are invited to check out our facilities and talk to our technicians to gather your 

own conclusions. One thing is certain: at Makani Kai, maintenance is a worthy and 

noble endeavor. 

, Mike Iven 

DirectQr of Maintenance 

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Smart, dedicated and experienced, Mike Iven has completed the 

^aSfStar factory maintenance course and a half-dozen other workshops 

wif'd seminars to keep his skills honed. He carries the "IA," designation, 

the highest qualification for maintenance technicians. He was recently honored by 

the Helicopter Association International for exemplary work and has been nominated 

for the pre.stigious FAA Diamond Award for maintenance excellence. 
^i.ueewJndowS; spacious interiors, a tlat screen 1 V 

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OUR 

COMMITMENT 

TO SERVICE 
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A regular van would suffice, we know. But our custom-made Turtle Top mini buses 

are the cat's meow for comfort and convenience. The buses feature low, wide and • 

enclosed entrances, wide aisles and lots of head room. Huge windows, spacious 

seating, flat screen TVs and other amenities make these motor coaches a most 

pleasant place to be. 

Makani Kai Helicopters is dedicated to providing persons with disabilities comfortable and easy access to our vans and our aircraft. It all starts with our mini bus 

that has a special lift to accommodate electric wheelchair-bound passengers to 

transport them to and from their hotel in air conditioned comfort. We also fabricated 

a special lift to move the passenger from his or her wheelchair right up into the 

|rt>in of the helicopter. 

Makani Kai Helicopters owners Richard and Diane Schuman have long made it a 

practice to give back to the community. Their charity of choice is the Make-A-Wish 

Foundation*, which gives hope, strength and joy to children with life-threatening 

medical conditions. 

For more than a decade, Makani Kai Helicopters has given free tours of the island 

to hundreds and hundreds of Make-A-Wish* children. These youth, between the ages 

r^2'/2 and 18, have progressive, degenerative or malignant medical conditions that 

ilpjce the child's life in jeopardy. But, for an hour, they can enjoy the stunning scenery 

of this special place and realize a wish granted. 

* (A'VVISH '•' 

www.malceawishhawaii.org 

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In late 2008, Makani Kai Helicopters moved into its new home, a spacious and 

purpose-built facility at 130 lolana Place at the Honolulu International Airport. 

The new, two-story structure allows for the expansion of our aerial tour operations. 

'The building is dedicated to our business, so we are much better able to service 

our customers and provide them with a premier experience," says Richard Schuman. 

"Our customers deserve a well-designed, comfortable and quiet place prior to and 

following their aerial tour and this new facility provides that." 

The building includes 8,000 square feet under roof plus 28,000 square feet of ramp 

space, enough to accommodate three to four aircraft with ease. The facility also 

f

f,\udes a hangar and maintenance area, a large lobby/waiting area, a retail area, 

Conference room and training area, a full kitchen and his and her showers. 

The lobby and retail areas feature flat screen televisions with satellite uplinks to 

carry live sporting events and other entertainment. Traffic flow in these areas was 

carefully considered in order to better handle a larger number of customers. The walls 

^ d ceiling are double insulted to minimize noise and make cooling more efficient. 

H'a veneer flooring, granite counter tops, and tile in the larger, ADA-accessible 

restrooms lend a quality feel to the interior, as does a custom made a 300-gallon 

salt water aquarium. 
highliglf* of the tour is Sacred Falls, 

OUR 

ISLAND 

TOURS 
This tour begins with beautiful views of Keehi Lagoon, historic Honolulu Harbor, 

Aloha Tower, downtown Honolulu and Punchbowl, the National Memorial Cemetery 

of the Pacific. The tour continues above Ala Moana Beach Park, Magic Island, the 

Ala Wai Yacht Harbor and Waikiki Beach. You'll see Diamond Head crater from a 

dramatic perspective, Hanauma Bay, Sandy Beach and Makapuu Point and lighthouse. 

Your aerial tour continues over Sea Life Park and miles of white sand beach. You'll see 

stunning Mount Olomana, the Nuuanu Pali and Pearl Harbor. 

This tour picks up where the Pali Makani Tour leaves off. After cruising above the white 

sands of Waimanalo Beach, the tour passes over the coral formations of Kaneohe Bay, 

Chinaman's Hat, and up into "Jurassic Park" valley, where a dozen major motion 

#"tures have been filmed. The highlight of the tour is Sacred Falls, a shear and 

splendid 1,000-foot cascade. You'll see the world famous North Shore surfing spots 

including Sunset Beach, Pipeline and Waimea Bay, the world's largest agricultural 

maze at the Dole Pineapple Plantation and the "birthing stones" of Hawaiian royalty. 

Your tour concludes with a panoramic vista of Pearl Harbor. 

No other aerial tour of Oahu offers you this much! This grand adventure includes 

everything in our other tours and then treats you to a spectacular view of the 

Waianae Mountains and infamous Kolekole Pass, where Japanese warplanes flew 

on their date with destiny on December 7, 1941. You'll also get a bird's eye view of 

the Ihilani and Ko Olina Resorts on the Ewa plain, as well as the "bookends" of WWII, 

the Arizona Memorial and Battleship Missouri at Pearl Harbor. 

* Dotted line Indicates tour route on days when weather and military actl\/lty allow. 

s i ' The Combos feature the customer's choice of our outstanding 

aerial tours, plus an unforgettable Atlantis Adventure of either 

a fascinating submarine voyage off Waikiki or a romantic sunset 

cruise complete with sumptuous dinner aboard the sleek 

Navatek. Choose any of Makani Kai's tours and either the 

standard or premium sub, the sunset dinner buffet, or the 

premium Royal steak and lobster dinner. Our exciting combination packages give your customer ultimate flexibility in their 

activity itinerary and can save them up to $50 per couple. 

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OUR 

MAKANI KAI 

OHANA 
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We have built our aerial tour business to be the very best possible by assembling the 

most experienced pilots and the best aircraft. We backed these with a comprehensive 

maintenance program and a total commitment to safety. Over the years, we have 

developed the most comfortable and efficient ground transportation system possible 

between the airport and Waikiki. We have constructed a modern, airy, clean and 

esthetically pleasing passenger terminal and shopping area to maximize passenger 

satisfaction. 

But in truth, our most valuable asset is our people. The Schuman philosophy is to 

hire the most qualified individuals for the job, individuals with heart, and then strive 

to retain those employees by paying them well and treating them with the respect 

t

'ly deserve. Which explains why our employees tend to remain on the job much 

iger than average. We know that there's nothing quite so confidence building for an 

agent as being able to deal with the same reservationist year after year, that drivers • 

who have been making the trip into Waikiki for a decade are unlikely to get lost, that 

happy support personnel are more apt to do their job with passion and commitment. 

It is our promise to you that we will always be a family, gracious and professional, 

to help you do your job the best that you can. 

•A'-

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Richard Schuman, who served 13 years with the Hawaii Army National Guard, strongly 

supports America's Armed Forces. These three distinguished Vietnam veterans round 

out our ohana. 

Pilot Vito Ventrella 

20,000+ hours 

Delta Troop, 3rd Squadron, 5th Calvary 

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ABOUT 

THAT 

CARRIAGE 
What does a horse and buggy have to do with helicopters? The carriage that resides 

in the lobby of our new building was once the iconic symbol of Schuman Carriage, 

a company that provided for the transportation needs of our island for more than a 

century. In its heyday, Schuman Carriage was Oahu's authorized dealer for Cadillac, 

Buick, Oldsmobile and other General Motors vehicles. Schuman Carriage also represented Subaru. 

In 1893, 16-year old Gustav Adolph Schuman emigrated from Germany and founded 

Schuman Carriage Company here. A harness maker by training, Schuman brought 

together a wheelwright and other craftsmen to offer a line of carriages, dump carts, 

farm wagons, saddles and whips. 

After a visit to the 1903 World's Expo in St. Louis, Schuman foresaw the impact of the 

#j?|rnal combustion engine and introduced the Pope-Tribune horseless carnage to the 

Si'and. The following year, he began selling Tin Lizzies at 

Hawai'i's first automobile dealership. 

Soon thereafter, the horse and buggy were relegated 

to history, but this example continued to serve as a 

centerpiece for the company. In addition to being 

featured in television advertisements, the horse 

and carriage graced Schuman's main show- ( 

rooms for more than five decades. 1 

Richard Schuman, owner of Makani Kai Helicopters, 

is the great grandson of Gustav Adolph. 

"I remember sitting in the carriage when ( was a kid," 

says Richard. "It's fitting and proper that this symbol 

of transportation that was synonymous with the 

family name now enjoys the spotlight at a business 

that carries over 14,000 people annually on aerial 

sightseeing adventures." 

After over a centuiy in business, Schuman Carriage quietly 

•"'qsed its doors in 2006. Hawaii's most recognized carriage 

Gustav Adolpii Schuman 

S^^v links past and present in a new venue, unsullied by time, 

still a pi'oud symbol of an earlier day. 
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