# I To: LauraRemo Exec Air Inc. ofNaples 160 13th 

### Street NW Naples, Florida 34120 239-290-5668 

### Phone

239-348-8871 

### Fax



### Chief, Air CarrierFitness Division Office ofAviation Analysis

Re: application ofExec

### Air, Inc. ofNaples ("ExecAir") 

### filed inDocketDaf-OST-2014-0149on August21, 2014. Letter

### ofQuestions dated 

### 10/29/2014.

I have responded belowto each ofyour questions,

I am attaching revised and requested documents, as indicated below as well as your letter reprinted below with answers to

### it~m~~**t~h** 8 included.

...
John Swasey

.

# /·}~**~** Exec Air Inc. ofNapleJ 1 ·' /U.S. 

### Departmentof Transportation
Office of the Secretary of Transportation



### October 29, 2014

Mr. John Swasey President Exec

### Air, Inc. ofNaples 160 13rh Street NW Naples, FL 34120

Dear Mr. Swasey: 1200 New Jersey Avenue SE Washington DC 20590



### This letter is in reference to the application ofExec Air, Inc. ofNaples C'Exec 

### Air") filed in Docket DOT-OST-2014-0149 on August 21, 2014. We have completed our review of the information Exec Air has 

### filed in support ofits request for commuter authority and find several areas where the information is deficient and has revealed the need for additional and/orclarifying information before we cancomplete processingExec

### Air's application.

The attached Information Requestlists the areas where further and/or clarification informationisnecessary.

I ask 

### thatyou respond fully to this requestwithin 30 days ofthe date ofthis letter. We note that it is not our policy to keep incomplete applications open indefinitely. If

### we do not receive the information in 

### the time period specified, we intend to dismiss Exec Air's application withoutprejudice.

You may upload your response via 

### the web at , or you may mail 

### your response to 

### U.S. Department ofTransportation Dockets, West Building, 

### Ground Floor, {M

### 30, Room W12-140), 1200 New Jersey Avenue SE, Washington, D.C. 20590. In either
case, yourresponse shouldbefiled inDocketDOT-OST-2014-0149.

As is the Department's practice, further processing ofExec Air's application will 

### be deferredpendingreceiptofthismaterial.

In addition, please remember that Exec Air should promptly provide the Departmentwith any information regarding changes it may undergo in 

### areas affecting its fitness (i.e., 

### management, operating plans or financial 

### condition, compliance disposition, or oV\IIlership) while itsapplicationisunderreviewbytheDepartment.

### 2

Ifyou have any questions regarding this letter, please feel free to contact Katy O'Toole of my staffat 

## (202)-366-9721 or**~Sincerely.**



### Laur

. Remo Chief,Air CarrierFitness Division Office ofAviation Analysis



### a:: DocketDOT -OST 

## -2014-0149

Ms. Helene Porche POI for Exec

## Air, Inc.

### Pleaseprovide the following: 

# Information Request Exec Air, 

## Inc. ofNaples

1. The balance sheet Exec Air provided in its application is dated December 2007. A copy of Exec Air's balance sheet, current to within 3 months of the date of this letter is required. Additionally, please provide a forecast balance sheet for the first normalyearending after the initially proposed operations have been incorporated. A) Revised Balance sheet current B) Forecast/projected balance sheet for Dec 31,2015



### 2. A current (within 3 months) income statement for Exec Air.

New P&L statement through November 1,2014

3. Income Statements for Exec Air for the past three calendar or fiscal years. Please do not provide U.S. Income Tax statements.

P&L Statements for 2013, 2012, and 2011

4. A resume for stockholder Tom Parent. Please identify his citizenship and supply compliance history information as required by sections 204.3(1), (m), (o), and (p) ofourrules. My investor is A MD.( Medical Doctor-sergin) By profession, He is a US Citizen., he does not have any aviation experience and is only a 8% stock holder. Thus is classified as a minor investor with no operational control. With regard to the 204.3(l),(m),(o), and (p) parts ofthe rules.

(I) A list of all actions and outstanding judgments for more than $5,000 against any relevant corporation, key personnel employed (or to be employed) by any relevant corporation, or person having a substantial interest in any relevant corporation, including the amount of each judgment, the party to whom it is payable, and how long it has been outstanding. Does not apply to Tom Parent minor investor.
(m) The number of actions and outstanding judgments of less than $5,000 against each relevant corporation, key personnel employed (or to be employed) by any relevant corporation, or person having a substantial interest in any relevant corporation, and the total amount owed by each on such judgments. Does not apply to Tom Parent minor investor.
(o) A description of the current status of all pending investigations, enforcement actions, and formal complaints filed by the Department, including the FAA, involving the applicant
or any relevant corporation, any personnel employed (or to be employed) by any relevant corporation or person having a substantial interest in any relevant corporation, regarding compliance with the Statute or orders, rules, regulations, or requirements issued pursuant to the Statute, and any corrective actions taken. (If an applicant has a compliance historythat yvarrants it, additional information may be required.) Does not apply to Tom Parent minor investor.

(p} A description of all charges of unfair or deceptive or anticompetitive business practices,
or of fraud, felony or antitrust violation, brougrt against any relevant corporation or person having a substantial interest in any relevant corporation, or member of the key personnel employed (or to be employed) by any relevant corporation in the past 10 years. Such descriptions shall include the disposition or current status of each such proceeding. Does not apply to Tom Parent minor investor.



### Please address the following questions:

5. Mr. Jeremy Vandersluis' resume indicates he is a contract pilot, a flight instructor, and also a Captain for 3 separate airlines. If 

### Exec Air is granted commuter authority, does Mr. Vandersluis intend to remain in these additional positions?

Mr. Vandersluis will continue to conduct contract flying with several of his customers and at this time he is not employed by any other Air Carrier. Should the need arise ExecAir may require his full time services however we feel as there will be engulftime to allow him to continue to do boththe contract flying and work for ExecAir.



### 6. Exec Air's business plan calls for the operation of one aircraft. Operations for scheduled service must continue on schedule even when the aircraft has mechanical problems. What is Exec Air's contingency plan to maintain operations when the aircraft is not operational? Also as a matter ofrecord ExecAir conducted contract privet routs for over ten years five days a week multiple stops a day for several bank customers and in

### that time only had flight cannulations three times due to mechanical issues. We even were able to schedule engine and propeller changes without missing a flight withthree exceptions in the same time period. I an1 confident in our mechanical reliability, we maintain our aircraft with preventive maintains during non scheduled flying periods ofthe day.

### 7. A grant ofcommuter authority also requires the air carrier to file BTS Form 298-C, A Report of Financial and Operating Statistics for Small Aircraft Operators, and Schedule T-100, U.S. Air Carrier Traffic and Capacity Data by Nonstop Segment and On-Flight Market. Please describe how Exec Air intends to track this information. As I have begun reading this decimation I believe there are instructions provided as to what is required to be reported, as well as where and when to file the information. We will figure it out.



### 8. Exhibit 6, page 5 of 7 (Balance Sheet) states an amount of 250,000 "common stock issued major investors" under Stockholder Equity but then also states other information regarding 7,500 shares and $150,000 deposit from a stock sale. Please clarify the amount of stock issued and outstanding, and if applicable, provide a detailed description, of each class or series of stock issued. Such description should include: the number of shares outstanding by class or series, convertibility into other classes or series of stock, representation on the board of directors, voting rights, entitlement to dividend, consequences of failure to pay such dividends, and liquidation preferences. This cannot be any clearer there are 7500 shares issued total, I sold 8% ofthe shares to Tom Parent for 

### $ 150,000.00 there is only one class ofstock. I am submitting a revised page Exhibit 6 page 5 of7. To show a clearer picture ofthis. the 250,000 was a typo from a previous worksheet. Should be as follows:

STOCKHOLDERS' EQUITY Preferred Stock Issued Common Stock Issued major Investors Common Stock Issued minor Investors Per share Asset based Equity Value $0 $317,492 $27,608 

### $46

As far as voting rights Mr. Parent has elected to be a non-voting stock holder and has such few shares as to be of no real effect should he elect to exercise his voting privileges. He holds no Board positions and does not want to have any operational control ofthe company. I have fully disclosed the Risks ofowning shares in an air carrier operation and that he may not see a return on investment and may lose his investment ifthings do not go as planned. This is a requirement ofthe US SEC, Mr. Parent meats Regulation D as a suffocated Informed Investor.

# I Exibit 6 FinacalsPage 5 of7 

## Balance Sheet ExecAir, Inc. ofNaples
ForPeriodEnding October29, 2014 ASSETS CASHASSETS Cash onHandCheckimg Cash on Hand Saveings Depositfrom stocksale 6oo sharestoTom Parenton 8/2014 placed incompanymoneymarket acount

JTOTAL CASHASSETS FIXEDASSETS (estimates) Office Furniture & Fixtures Computers Phone System Office Equipment (Copiers, FaxMachines, Printers) Office Supplies Machinery& Tooling CompanyVehicles AircraftParts (Rotables & Consumables)

JTOTAL FIXEDASSETS OTHERASSETS

t Company owned Cessna182

JTOTAL OTHERASSETS

ITOTALASSETS LIABILITIESAND STOCKHOLDERS' EQUI1Y LIABILITIES PassengerCharterFlightliabilities Annual ShorttermandlongtermPayables AnnualLongterm andlongtermPayables JTOTAL CURRENTLIABILITIES STOCKHOLDERS' EQUI1Y Prefered StockIssued Common StockIssued majorInvestors Common StockIssued minorInvestors Per shareAssetbased EquityValue

lTotal Stockholders Equity 0 335,524

29,176 49

lTOTAL LIABILITIESAND STOCKHOLDERS' EQU11Y

Notes: 1 FixedAssets basedonreplacementvalue • 2 Liabilities basedupon companies currentdebts. $7,000 $1,ooo $140,000

$2,000 $1o,ooo

$1,000

$100 $1,000 $25,000 $25,000 $70,000

$85,ooo

$o $2,400 $0

3 Managementhas compiledthebalance sheetwiththeirbestknowledge andbelief

ofthe Company'sfinancialposition. 4 The balance sheethas notbeenreviewed or audited.

MA.JOR INVI<JS'l,OHS .JOHN SWASEY 'l'OM l'ARENT INVESTOH #2 INVJ<JSTOR #:3 INVES'POR #4 7,500 Shares 1,700,000 6900

150,000 600 0 0 () 1,850,000 7500 % OF OWNI<JHSI-IIP H2%

8'!/o 0% 0'?/o**o~/"** 100% $148,oool

$134,1001

$85,000

$85,oool

$367,1001

$2,4001

### Projected endoffirst year 

# Balance Sheet ExecAir, Inc. ofNaples
ForPeriodEnding December31, 2015 ASSETS CASHASSETS Cash onHand Checkimg $29,700 Cash on Hand Saveings $25,000 Depositfrom stock sale 6oo sharesto Tom Parent on 8/2• $14o,ooo placedincompanymoneymarketacountfrom proffit $100,000

JTOTAL CASHASSETS FIXEDASSETS (estimates) Office Furniture & Fixtures Computers Phone System Office Equipment (Copiers, FaxMachines, Printers) OfficeSupplies Machinery & Tooling CompanyVehicles Aircraft Parts (Rotables & Consumables)

JTOTAL FIXED ASSETS OTHERASSETS

1 Company owned

1 Leased

JTOTAL OTHERASSETS

JTOTAL ASSETS Cessna 182
Cessna 206

LIABILITIES AND STOCKHOLDERS' EQUI1Y LIABILITIES

JTotal Stockholders Equity 0 590,088 51,312 86

JTOTAL LIABILITIESAND STOCKHOLDERS' EQUI1Y

Nott 1 FixedAssets based on replacementvalue • 2 Liabilitiesbasedupon companies currentdebts. $2,000 $10,000

$1,000

$100 $1,000 $25,000 $25,000 $70,000

$85,000 $130,000

$0 $2,400 $0 $134,1001

$85,000 $130,000

$215,0001

$643,8ooJ

$641.400

3 Managementhas compiledthebalance sheetwiththeirbestknowledge andbelief

ofthe Company'sfinancialposition. 4 Thebalance sheethas notbeenreviewed or audited.

MA.JOH INVIDSTORS 7,500 Shares %OF**OWN~JHSHIP rJ~(~)~~I~N~S~'VV~A~S~~~~Y~'~~~------~1~.~7~0~0~,0~(~)0~--~6~90~0----~9~2~** **/t~o** 'f'OM PAREN'l:' 150,000 600 8% INVliJS'l'OH #'2 0 0% INVJ{jS'l'OR #H 0 0%**INVliJS'l'Ol~** #4 0 0% 1 ,850,000 7500 100%9:30PM

10/30/14 Accrual Basis 

### Exec Air Inc. of Naples 

## Profit & 

## Loss January through December 2013

Ordinary Income/Expense Income

60100 ·Charter Income 60300 · Broker Fee Income 60500 ·Banner Income 60700 · Air Tour Income
Total Income Expense

66000 · Payroll Expenses 6999 · Uncategorized Expenses 85300 · Automobile Expense 85400 · Advertising 86000 · Bank and Credit Card Charges 86500 · Business Meals and Entertainmen 87300 · Contributions 87800 · Depreciation 88000 · Drug Program 88800 · Dues and subscriptions 89000 · Purchase Banner Equipment 90000 · Fuel & Oil 90200 · Interest Expense 90400 · Insurance 90800 · Legal and Accounting 91 000 · Licenses & Taxes • Other 91500 ·Meal & Entertainment 91600 ·Misc. Expense 91800 · Office Expense 92800 ·Rent 92900 · Rent ·Airplane 93000 • Repairs and Maintenance 93100 ·Salaries- Officer 93200 · Payroll 93800 · Supplies 93900 · Taxes

- Payroll 93975 • Taxes- Property 94100 ·Telephone 94200 • Travel
Total Expense

Net Ordinary Income
Other Income/Expense

Other Income 95800 • Other Income
Total Other Income

Net Other Income

Net Income Jan- Dec 13

126,102.21 35.00 2,550.00 2,180.56 130,867.77

0.00 0.00 2,831.53 8,143.18 2,748.26

973.23 250.00 871.05 600.00 4,485.64 1,402.60 34,374.08

1,094.58 8,990.67

780.00 729.82

0.00 0.00 926.66 14,031.03 5,210.00 19,824.34 6,294.88 4,208.99 1,883.66 3,140.01 0.00 4,940.58

107.63 128,842.42

2,025.35

161.30
161.30

161.30

2,186.65

Page 18:45PM

10/30/14 Accrual Basis 

### Exec Air Inc. of Naples 

## Profit 

## & Loss January through December 2012

Ordinary Income/Expense Income

601 00 · Charter Income 60500 · Banner Income 60700 · Air Tour Income 60800 · Maintenance Income 61200 ·Misc. Income
Total Income Expense

66000 · Payroll Expenses 6999 · Uncategorized Expenses 85300 · Automobile Expense 85400 · Advertising 86000 · Bank and Credit Card Charges 86500 · Business Meals and Entertainmen 88000 · Drug Program 88800 · Dues and subscriptions 89000 · Purchase Banner Equipment 90000 · Fuel & Oil 90200 · Interest Expense 90400 · Insurance 90800 · Legal and Accounting 91000 ·Licenses & Taxes- Other 91500 ·Meal & Entertainment 91600 ·Misc. Expense 91800 • Office Expense 92800 ·Rent 92900 · Rent -Airplane 92950 · Rental Equipment 93000 · Repairs and Maintenance 93100 ·Salaries- Officer 93200 · Payroll 93800 • Supplies 93900 · Taxes

- Payroll 93975 · Taxes- Property 94100 ·Telephone 94200 · Travel
Total Expense

Net Ordinary Income

Net Income Jan- Dec 12

61,896.95 14.485.00

1,123.75 1,609.74 2,718.60 81,834.04

275.00 936.44 365.93 7,562.00 3,391.69

180.84 -917.00 177.33 39.66 19,39f;).01 1.417.27 5,930.46 1,250.00

548.04 180.66 810.64 562.87 14,091.36 8,123.00

76.32 9,790.10 0.00 10,925.00

1,687.70 1,687.74 0.00 2,703.29

770.57

--···- ···--·- 91,962.92

-10,128.88

-10,128.88

Page 18:36PM

10/30/14 Accrual Basis 

### Exec Air Inc. of Naples 

## Profit & 

## Loss January through December 2011

Ordinary Income/Expense Income

601 00 • Charter Income 60500 · Banner Income 60600 · Jumper Income 60700 ·AirTour Income 60800 · Maintenance Income 61200 ·Misc. Income
Total Income Expense

Check printing 61100 · Loan Proceeds 6999 • Uncategorized Expenses 85300 · Automobile Expense 85400 · Advertising 86000 · Bank and Credit Card Charges 86500 · Business Meals and Entertainmen 87400 ·Commissions 88000 · Drug Program 88800 · Dues and subscriptions 89000 • Purchase Banner Equipment 90000 · Fuel &Oil 90400 · Insurance 90800 • Legal and Accounting 91 000 · Licenses & Taxes

- Other 91500 ·Meal & Entertainment 91600 · Misc. Expense 91800 ·Office Expense 92800 ·Rent 92900 · Rent

- Airplane 93000 · Repairs and Maintenance 93200 · Payroll 93800 · Supplies 94100 ·Telephone 94200 · Travel
Total Expense

Net Ordinary Income

Net Income Jan- Dec 11

25,684.01 23,500.00 19,273.67

713.40 254.40 3,697.97 73,123.45

20.99 -10,000.00

3,289.08 97.00 4,491.68 1,021.95

43.56 75.00 240.00 4,734.11

702.63 20,726.59

8,117.20 1,175.00

547.25 26.63 162.72 2,528.72 15,552.12

970.75 10,382.32 4,069.00 2,763.03 2,603.46 15.40 74,356.19

-1,232.74

-1,232.74

Page 13:14PM

11/04/14 Accrual Basis 

### Exec Air Inc. of Naples 

## Profit & 

## Loss January 1 through November 4, 2014

Ordinary Income/Expense Income

60100 ·Charter Income 60200 · Rental Income 60300 · Broker Fee Income 60500 · Banner Income 60700 ·AirTour Income 60800 · Maintenance Income
Total Income Expense

66000 · Payroll Expenses 6999 · Uncategorized Expenses 85300 · Automobile Expense 85400 · Advertising 86000 • Bank and Credit Card Charges 86500 • Business Meals and Entertainmen 87300 · Contributions 88000 · Drug Program 88800 · Dues and subscriptions 89000 · Purchase Banner Equipment 90000 · Fuel & Oil 90400 • Insurance 90800 • Legal and Accounting 91000 ·Licenses & Taxes- Other 91500 ·Meal & Entertainment 91600 · Misc. Expense 91800 · Office Expense 92800 ·Rent 92900 · Rent

- Airplane 92950 · Rental Equipment 93000 · Repairs and Maintenance 93200 • Payroll 93800 · Supplies 93900 · Taxes

- Payroll 93975 • Taxes- Property 94100 ·Telephone 94200 · Travel
Total Expense

Net Ordinary Income

Net Income Jan 1- Nov 4, 14

128,309.71 800.00 160.00 11,675.28 127.50 -1,000.00 140,072.49

1,215.00 1,824.94

60.00 4,238.66 29,357.31 542.22 1,401.65

700.00 2,264.62 7,195.74 33,064.78 13,390.87

1,456.40

333.75 202.76 1,182.72 2,023.97 11,054.65 17,055.00 2,250.00 8,580.44 4,050.00 1,296.96 1,129.83 1,888.41 4,729.42 3,009.00 155,499.10

-15,426.61

-15,426.61

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