BEFORETHE DEPARTMENTOF TRANSPORTATION WASHINGTON, D.C.

APPLICATION OF: TRANSPORTES AEREOS PEGASO. S.A.DE C.V.

FOR AN EXEMPTION FROM 49 U.S.C.//41301 (U.S./ MEXICO CHARTERAIRTRANSPORTATION) Docket OST-09- 

# 0 )-?-

# sAPPLICATION OF TRANSPORTESAEREOS PEGASO, S.A. DE C.V. FORANEXEMPTION
Communications concerning this document maybe served upon: SergioZepeda Tielve Santander 15, Piso 10 Mexico, D.F. 03920 Telephone: 52 55 5598-5079 Fax: 52 55 5611-5376 E-mail: szt@tagsa-mx.com Legal Representativefor: Transportes Aereos Pegaso, S.Ade C.V. January 1Oth, 2014 Notice: Any person may support or oppose this appllcation by Filling an answer and serving a copy ofthat answer on counsel for Transportes Aereos Pegaso, S.A. de C.V. and upon each person servedwith this application.BEFORETHE DEPARTMENTOFTRANSPORTATION WASHINGTON, D.C.

APPLICATION OF: TRANSPORTESAEREOS PEGASO, S.A.DE C.V.

FOR AN EXEMPTION FROM 49 U.S.C.//41301 (U.S./MEXICO CHARTER AIR TRANSPORTATION) DocketOST-09-

APPLICATION OF TRANSPORTESAEREOS PEGASO. S.ADEC.V. FORANEXEMPTION (Filed on January 1Oth, 2014)
Pursuant to 49 U.S.C. //40109 and subpart C of the Department's Rules of Practice, Transportes Aereos Pegaso, S.A. de C.V., a Mexican Air Taxi Operator of small aircraft, request an exemption from 49 U.S.C. //41301 to authorize Transportes Aereos Pegaso. S.A. de C.V. to engage in charter foreign air transportation of passengers between Mexico and the United States of America and to engage in other passenger charteroperations in accordance with 14CFR Part 212, using small aircraft Transportes Aereos Pegaso, S.Ade C.V. also requests stnpover privileges and relief from the Department's requirement to provide prior notice of each flight, or series of flights between Mexico and the United States ofAmerica.



### 2TransportesAereos Pegaso, SA de CV
- Initial Exemption Application


### Transportes Aereos Pegaso, S.A. de C.V. (PEGASO) respectfully seeks the requested exemption fromthe DepartmentofTransportation fora period of atleasttwoyears. In support of this application and pursuant to the Department's Procedural Regulations, PEGASO states as follows: Subpart C- Information Requirements 211.20 Foreign aircarrier permit (a) State the name and address ofthe applicant, the nature of its organization (individual, partnership, corporation, etc.) and 

### if other than an individual, the name of the country under the laws which 

### it is organized and the statutory citation ofsuch laws, ifany. a.1 Applicantname: TransportesAereos Pegaso, S.A. deC.V. a.2 Applicantaddress:

a.3Organization: Santander 15, Piso 10 Col. lnsurgentes Mixcoac Mexico, D.F. 03920 Partnership a.40rganized under the laws and regulatory jurisdiction of Mexico's, Secretaria de Comunicaciones y Transportes (Secretary of Communications and Transportation) and the Direccion General de Aeronautica Civil (General Direction of Civil Aeronautics) known as DGAC. (b) State the name and official address ofthe government air transport authority or applicant's country of citizenship having regulatory jurisdiction over applicant Secretariade Comunicaciones

### yTransporte Oireccion General de Aeronautica Civil (DGAC) PerifericoSur, 1990 Col. LosAlpesTlacopac, Mexico DF. C.P. 01010Transgortes Aereos Pegaso. SA de CV-Initial Exemption Application


### (c) Supplythefollowing information regarding the services proposed: 1) A complete statement ofthe authoritysought; and
Pursuant to 49 U.S.C. //40109 and subpart C of the Department's Rules of Practice, Transportes Aereos Pegaso, S.A de C.V., a Mexican AirTaxi Operator of small executive aircraft, request an exemption from 49 U.S.C. //41301 to authorize Transportes Aereos Pegaso, S.A de CV. to engage in charterforeign air transportation of passengers between Mexico and the United States of America and to engage in other passenger charter operations in accordance with 14 CFR Part 212, using small aircraft. Transportes Aereos Pegaso, S.A.de C.V. also requests stopover privileges and relieffrom the Department's requirementto provide prior notice of each flight, or series of flights between Mexico and the United States ofAmerica. Pegaso initiated flight operations in 1981 as ataxi operator with Mexican DGAC license authorizing international non schedule passengerandAirTaxi service. Pegasa is operationally and financially qualified to continue performing air transportation services for which PEGASO requests authorization in this application. As evidencethereof: Although PEGASO's forecast operations do not include specific flights between third countries and the U.S., PEGASO anticipates the need to operate Fifth Freedom Charter Service and is seeking such authority subject to the prior approval pursuantto part212 ofthe Department's regulations. As a reference, please see notice ofaction taken, October2, 1996, application of Aero Personal, S.A.de C.V., docket**ost~96-1562,** 

### issuing an initial exemption to Aero PersonaL The DOT did renew Aero Personal's exemption by Notice of Action Taken, January 22. 2007. In the same Docket The FAA has issued operations specificationsto Aero Personal undercertificate numberor9f672f. Pegaso's proposed U.S. services are consistent whit the public interest for the fallowing reasons: First the Third and Fourth Freedom Charter Authority sought by PEGASO is authorized byAnnex II to the U.S.-Mexlco AirTransport Agreement ofSeptember

4JransQortesAereos Pegaso, SA de CV -Initial ExemptionApplication

15, 1960, as amended and extended, and therefore is presumptively in the public interest
Second: PAGASO's operations will include carriage of passengers to the U.S. on business, thereby fostering commerce between Mexico and the U.S. consistent with the objectives of the North American Free Trade Agreement (NAFTA). Third: PEGASO's request for extra-bilateral stopover privileges for passenger flights result from the need to make occasionalstops at two or more points in the U.S. No regulatory purpose would be served by preventing PEGASO from meeting the stopover requirements of its corporate passengers. In addition, the department has routinely waived stopover restrictions for other Mexican air taxi operators Fourth: although PAGASO's request for relieffrom the requirement to notifythe DOT of all Third and Fourth Freedom flights or series of flights is also extrabilateral, comity and reciprocity favor such relief. The notice requirements serves no specific regulatory purpose for commercial operators ofsmall, business type aircraft. It burdens the Department, as the regulating agency, and PEGASO as the party being regulated. In addition, the DOT has routinely waived the notice requirement for other Mexican AirTaxi Operators. On information and belief, the Mexican DGAC does not require advance noticefor similar operations by U.S. air taxis, or by U.S. corporate operators carrying passengers for compensation pursuantto Subpart Fof Part 91 ofThe Federal Aviation Regulations. The impact of authorizing stopover privileges to PEGASO would be negligible. PEGASO estimates that only a few passengers per month would be involved in stopover operations. It is unlikely that U.S. carriers would transport any ofthese passengers ifthe requested authoritywerewithheld. Please refer to Notice of Action Taken, Application 

### of Transportes Aereos Mexiquenses, S. A de C.V

.. Docket OST-05-21108, November 29, 2005; Notice of Action Taken, Application of Aero Personal, S.A de C.V., Docket OST-96- 1562, October23, 1997. Please refer to DOT Order 99-7-23n(July 30, 1999)which exempted an Mexican foreign air carriers holding Department authorityfrom the requirement to obtain a statement of authorization before operating Third and Fourth Freedom charter flights so long as these aircarriers submitan advance notice ofsuch operations.

5Transportes['\ereos Pegaso. SAde CV -Initial Exemption Application

Please refer to Notice of Action Taken. application of Aerovics, S.A de C.V., Docket OST-96-1405, August 3, 2004; Notice of Action Taken, Application of Comander Mexicana, S.Ade C.V., Docket OST-97-2245, April16, 1998.
PEGASO has applied for part 129 operations specifications from the FAA International Field Office in Dallas-FortWorth
1) A description ofthe services proposed ,specifying: (i) The points in the Unlted States proposedto be served are: THE SERVICE OFFERED BY PEGASO IS TO PROVIDE AN AVERAGE OF 5 HOURS A MONTH OF INTERNATIONAL AIR TAXI TRANSPORTATION TO: COMPANY SHARE HOLDERS AND FAMILY, EXECUTIVE PERSONNEL, BUSINESS AND VACATION PASSENGERS. THE POINTS IN THE U.S. PROPOSEDTO BE SERVED ARE: TEXAS • LAREDO,TX (KLRD) • BROWNSVILLE,TX (KBRO) • HOUSTON, TX, (KHOU} • EL PASO, TX, (KELP) • MeALLEN (KMFE)
ARIZONA • TUCSON, AZ, ( KTUS)
CALIFORNIA • SAN DIEGO, CA, (KSDL)
FLORIDA • FORT LAUDERDALE, FL (KFLL) • KEYWEST, FL(KEYW) LUISIANA • NEWORLEANDS, LU (KMSY}

6TransportesAereos Pegaso, §,.A de CV -lnitral Exemption Application

FLIGHTS MAY CONTINUE TO DIFFERENT CITIES IN THE USA, CANADA OR OTHER COUNTRIES ACCORDING TO FLIGHT PLANS SUGGESTED IN THE JEPSSON MANUAL a) The frequency of service planned at the start of operations, indicating any seasonal variations; whether the service proposed is scheduled, non-scheduled, or charter whether the service would be passenger, property and mail, or a combination; andthe type ofequipment (and configuration) to be used; and THE SERVICE PLANNED WILL BE PASSENGER, NON SCHEDULE, CHARTER, PROPERTY OR A COMBINATION OF THOSE, WITH THE FOLLOWINGAIRCRAFT: LEARJET31 A CONFIGURATION: 8 PAX, 2CREW. MEXICAN REG. XA-ZYZ

(ii) A service stating the manner in which the service will be operated (e.g., non stop or multi-stop, and the identity of proposed intermediatetraffic and non traffic points). THE SERVICE PLANNED WILL BE NON-STOP AND MULTl- STOP DEPENDING ON THE RANGE OF THE AIRCRAFT, DESTINATIONS AND PASSENGERS NEEDS. THE DEPARTURE AIRPORTS WILL BE MAINLY TOLUCA, EST ADO DE MEXICO INTERNATIONAL AIRPORT (MMTO}, CIUDAD DEL CARMEN CAMPECHE INTERNATIONAL AIRPORT (MMCE) AND MERIDA INTERNATIONALAIRPORT (MMMD). THE DESTINATIONS ARE ACCORDING TO CUSTOMERS REQUIREMENTS, BUT OUR EXPERIENCE HAS MAINLY BEEN ENTERING THE USATROUGH: TEXAS • LAREOO,TX (KLRO) • BROWNSVILLE, TX (KBRO) • HOUSTON, TX, (KHOU) • EL PASO, TX, (KELP} • McALLEN (KMFE)

7TransportesAereos Pegaso. SA deC.V. -Initial Exemption Application

ARIZONA • TUCSON, AZ, ( KTUS)
CALIFORNIA • SAN D'IEGO, CA, {KSDL)
FLORIDA • FORT LAUDERDALE, FL (KFLL) • KEYWEST, FL (KEYW) LUISIANA • NEWORLEANDS, LU (KMSY)
FLIGHTS MAY CONTINUE TO DIFFERENT CITIES IN THE USA OR OTHER COUNTRIES ACCORDING TO EACH FLIGHT PLAN AND PASSENGERS NEEDS.

(d) Provide the names , addresses {both residence and business), and citizenship of all Directors, Officers and key management personneL including the President, Vice Presidents, the Directors or Supervisors ofOperations, Maintenance, and Finance, and the chief pilot and chief inspector. Indicate whether any ofthese persons are related by blood ormarriage.
ENRIQUE ZEPEDA MORALES President Mexican Citizen Business address: Santander No. 15. Piso 10 Col. lnsurgentes Mixcoac Mexico, D.F. 03920 Residenceaddress: KM 93.5 CarreteraToluca
- Zitacuaro Zitacuaro, Michoacim, Mexico 61500

8TransQQrtes Aereos Pegaso, SA de CV -Initial Exemption AQQiication

ENRIQUEZEPEDA NAVARRO 

### C.EO. Mexican Citizen Businessaddress: Santander No. 15, Piso 10 Col. lnsurgentes Mixcoac Mexico, 

### DF03920 Residence address: Rinconada Los Encinas 7 Frace. ClubdegolfLos Encinas Lerma, Edo. de Mexico 52031
JOSE

### A EROSAZEPEDA Operations Manager CME Mexican Citizen Business address: Hangar#5Zona Federal Aeropuerto lnternacional Ciudad del Carmen Ciudad del Carmen, Campeche, Mexico 24120 Residenceaddress: Privada Higo8, Col. Miami Ciudad del Carmen, Campeche, Mexico 24120
SERGIOA. ZEPEDATIELVE Administrative Manager Mexican Citizen Business address: Santander No. 15. Piso '10 CoL lnsurgentes Mixcoac Mexico, D.F. 03920 Residence address: Aniceto Ortega #1008 Col. Del Valle Mexico, D.F. C.P. 03100
JUAN DE OIOS CHANONAVALDEZ Operations ManagerTLC Mexican Citizen Business address: Aeropuerto !nternacional deToluca
9TransportesAereos Pegaso. SA de CV-Initial Exemption Application
HangarEOLO Zona Hangares Privados Residenceaddress: Calle 12 de Octubre N. 

### 67-6 FraccionamientoArboledas 2 Metepec, Edo. de Mexico 52170
NOEMI SAAVEDRA BELLO GeneralAccountant Mexican Citizen Business address: Santander No. 15, Piso 

### 10 CoL lnsurgentes Mixcoac, Mexico, D.F. 03920 Residence address: A!barrada 

### 54 Col. Progresista Mexico, D.F. 

### 09240
FERNANDO NUNEZ RAMIREZ Maintenance and Engineering Chief Mexican Citizen Business address: Aeropuerto lnternacionalde Villa Hermosa HangarPegaso Residenceaddress: Circuito RomaNo. 159 FraccionamientoSol Campestre Villa HermosaT abasco, Mexico

### 86280
NOE MARTIN QUINTANAACEVES Chief Inspector Mexican Citizen BusinessAddress: Hangar#5 Zona Federal Aeropuerto lnternacional Ciudad del Carmen Ciudad del Carmen, Campeche, Mexico ResidenceAddress: Calle

### 48 No. 157entre calles41-C Y43 No. 57 Fraccionamiento Franciscode Montejo

10JransgortesAereos Pegaso. SA de CV-Initial ExemptionApplication
Merida Yucatan, Mexico 97210 ERNESTOALONSO HERNANDEZ MEJIA Pilot Mexican Citizen Licence: 200104879 Expires: 11/MAR/2015 Businessaddress: Santander No. 15, Piso 10 Col. lnsurgentes Mixcoac, Mexico. D.F. 03920 Residence address: Circuito Hacienda Carlome Manzana 1 Casa 7, Fraccionamlento Hacienda del Valle. Toluca. C.P. 50200
Carlos Manuel RuizVelazco Chief Pilot Licence: 201219117 Expires: 01/08/2014 Business address: Santander No. 15, Piso 10 Col. lnsurgentes Mixcoac, Mexico, D.F. 03920 Residence address: RETORNO DE BELLAVISTA 154 LOMAS RESIDENCIAL PACHUCA DE SOTO, C.P. 42094
THE ABOVE MENTIONED ARE PERSONNEL OF TRANSPORTES AEREOS PEGASO AND ARE RELATED BY BLOOD EXCEPT FOR: NOEMI SAAVEDRA BELLO, FERNANDO NUNEZ RAMIREZ, NOE MARTIN QUINTANA ACEVES, CARLOS MANUEL RUJZ VELAZCO, ERNESTOALONSO HERNADEZ MEJIA (e) Providethe names and citizenship ofall persons holding five percent (5%) or more of the capital stock or capital of the applicant. Also indicate the numberand percentage ofshares ofstock orpercentage ofcapital held by each. If five percent or more of the applicant's stock is held by a corporation or partnership, set forth the name and citizenship of each person holding five percent or more ofthe entire capital stock or capital of thatcorporation partnership and the respective interestofeach. IfanyTransportesAereos Pegaso. SAde CV-Initial Exemption Application 

### (f) shares are held for the benefit of another person, give the name and citizenship ofthat person.
ENRIQUE ZEPEDA MORALES MEXICAN CITIZEN NUMBER OF SHARES: 275 PERCENTAGE OF SHARES: 27.5% ENRIQUE ZEPEDA NAVARRO MEXICAN CITIZEN NUMBEROF SHARES: 100 PERCENTAGE OF SHARES: 10% ALBERTO ZAGA HOP MEXICAN CITIZEN NUMBER OF SHARES: 230 PERCENTAGE OF SHARES: 23% CARLOS ZAGA HOP MEXICAN CITIZEN NUMBER OF SHARES: 230 PERCENTAGE OF SHARES: 23% JAIMEGARCIA GUTIERREZ MEXICAN CITIZEN NUMBER OF SHARES: 165 PERCENTAGEOF SHARES: 16.5% NONE OF THE APPLICANTS STOCK IS HELD BY A CORPORATION OR PARTNESHIP NO SHARES ARE HELD FORTHE BENEFIT OF ANOTHER PERSON. (g) If the applicant is not wholly owned by its homeland government, state whether the applicant (each officer, director, manager, or holder of five percent ormore ofthe capital stock) holds any interest directly or indirectly (through brokers or holding companies) in any ofthe entities listed below. Ifno interest is held, so state. THE APPLICANT (EACH OFFICER, DIRECTOR, MANAGER, OR HOLDER OF FIVE PERCENTOR MORE OF THE CAPITAL STOCK) DO

12TransportesAereos Pegaso, SAde CV-Initial Exemption Application



### NOT HOLD ANY INTEREST DIRECTLY OR INDIRECTLY (THROUGH BROKERS OR HOLDING COMPANIES} lN ANY OF THE ENTITIES LISTED BELOW:
a. Any U.S. carrier; b. Anyotherforeign aircarrier; c. Any persons engaged in the businessofaeronautics; and d. Any common carrier, orany person whose principal business is the holding ofstock in, orcontrol of, any aircarrier. 3) Indicate the relationship between the applicant and its homeland government. Ifthe applicant is wholly owned orsubstantially owned by the government, indicate which government department has responsibilityfor managerial decisions. APPLICANT HAS NO RELATIONSHIP WITH ITS HOMELAND GOVERNMET 4) State whether t!1e applicant's insurance coverage meets or exceedsthe liability limits of 14 CFR part 205. State the name(s) of its insurance carriers(s). APPLICANT'S INSURANCE COVERAGE MEETS OR EXCEEDS THE LIABILITY LIMITS OF 14CFR PART 205. INSURANCE CARRIER IS: AFIRME SEGUROS. ATTACHMENT 1: INSURANCE 

### 5) Supply certified evidence, in English, of the applicant's operating authority issued by its government that relates to the operations proposed. The evidence must include a description of the applicant's present authority, the expiration date of this authority, and the manner inwhich it is expectedto be renewed. OPERATING AUTHORITY AO.C. (PERM!SO DE EXPLOTACION DE SERV!ClOS AEREOS). IT IS RENEWED EVERY TVVO YEARS. LAST RENEWAL IS GOOD FROM JAN 2011 TO JAN 2013. ATTACHMENT2: A.O.C.TransportesAereos Pegaso. SAde CV-Initial Exemption Application


### 6) Summarize the operating history ofthe applicant. Include the types of transportation services rendered, points served, etc., from the beginning of operations to the present. Also, if the applicant is a new airline (NOT THE CASE} (i.e., an airline that began direct air service within the past 12 months), briefly summarize the business experience of each officer, director and key management personnel, emphasizing any airtransportation experience. Transportes Aereos Pegaso began operations in 1981. Services include air transportation with fixed and rotary wing aircraft for corporate personnel, executives, tourist, photography, off shore missions, mountain and sea rescue, fire extinction, ambulance and cargo hook missions to destinations in Canada, U.S., Mexico, the caribean and Latin America. In 2011 Pegaso had completed 200,000 of shore flight hours transporting over 1.8 million passengers. Since 1985 Pegaso has been certified to perform maintenace on its aircraft, engines and avionics. Facilities include a flight dispatch office, training rooms, hangars in Ciudad del Carmen and Villa Hermosa, leisure space for crews including sports activities such as swimming pool, volley ball and basket ball courts and services. In Toluca, hangar and office space is shared with Eolo FBO station. For security reasons, a video circuit recording system monitors aH activities in all our facilities and we have a dedicated web system for our operatlons facilities with voice, information and video recording with frame relay technology. Personalized software has been developed to increase operations efficiency and document's backup, Over the years, Pegaso has been granted many contracts from important corporations such as Pemex, Cotemar, Semarnat, Hawkeye gold & 

### diamond, inc, TASA, Schlumberger, CFE and others. 

## ATTACHMENT3:RESSUME 7) Provide a list of aircraft owned, leased and operated by the applicant. State each aircraft registration numberand the country of registration. If leased, state the address and citizenship of each lessor. Describe any plansforthe acquisition orlease ofadditional

14TransportesAereos Pegaso. SA de C.V. -Initial Exemption Application

aircraft ifthe present permitorapplication is granted as proposed. If any of the listed aircraft 

### wiH not be used exclusively by the applicant, explain its proposed use. State whether any aircraft are or will be wet-leased. AIRCRAFT OWNED: LEARJET31A REGISTRATION NUMBER IS: XA-ZYZ COUNTRY OF REGISTRATION IS: MEXICO AIRCRAFTWILL BE USED EXCLUSIVELY BYTHEAPPLICANT THERE ARE NO PLANSTO WET-LEASE ANYAIRCRAFT THIS IS THE FIX WING AIRCRAFT THAT IS PLANNED TO FLY TO THE USA ATTACHMENT4: COMPLETE AIRCRAFT FLEET 8) State where and by whom the maintenance ofthe aircraft is or will be performed. State whether the applicant's maintenance program complies with the provisions of ICAO pilots and Airmen Annexes 1, 6 (Part 1) and 7. Also state whetherthe applicant's home country is acontracting Statetothe Convention on International Civil Aviation. MAINTENANCE IS STRICTLY PERFORMED ACCORDING TO THE AIRCRAFT MAINTENANCE PROGRAM IN COMPLIANCE WITH ICAO ANNEXES 1, 6 (PART I) AND 7 .AT DGAC AND FAA AUTHORIZED REPAIR STATIONS IN MEXfCO AND IN THE U.S., INCLUDING PAGASOS's FACILITIES. AIRCRAFT FLEET IS AIRWHORTY. 9) Briefly describe any agreements or cooperative working arrangements (e.g., block
- space, wet lease). both oral and written, entered with and between the applicant, or on behalfofthe applicant. and any U.S. orforeign air carrier, affecting the proposed services to the United States that are not on file with the Department. Ifthere are no such agreements, so state. OTHER THAN AS DESCRIBED IN THIS APPLICATION, PEGASO, DOES NOT HAVE ANY AGREEMENTS OR COOPERATIVE WORKING ARRANGEMENTS ORAL OR WRITTEN ENTEREDWITH AND BETWEEN THE APPLICANT,

15TransportesAeneas Pegaso. SA deC.V. -Initial Exemption Agplication

AND ANY U.S. OR FOREIGN AIR CARRIER, AFFECTING THE PROPOSED SERVICES TO THE UNITED STATES THAT ARE NOT ON FILE WITH THE DEPARTMENT. 10)Supp!y financial data summaries, setting forth in U.S. dollars the applicant's profit and loss statements and balance sheets for the 2 more recent available years (calendar or fiscal). These summaries must be accompanied by a statement from the applicant's official responsible for preparation of the summaries that the submissions are complete and accurate. These summaries must include the following data, but need not be more detailed than the financial summaries published by ICAO: i. The profit and loss summary shall identify: (i) Total air transport operating revenues (separated into three categories: passenger, cargo, and other transport revenues): 2011: USD$51,038,324 2012: USD$70,848,574 (ii) Total airtransportoperating expenses; 2011: USD$50,362,717 2012: USD$66,864,176 {iii) Operating result (difference between (i) and (ii)); 2011: USD$675,607 2012: USD$3,984,176 (iv) Non-operating items; 2011: USD$879,189 2012: USD $1 ;864,453 (v) Profitor loss after incometaxes. 2011: USD$(203,582) 2012: USD $2,119,945 ii. The balancesheetsummary shall stateand identify: (i) Currentassets; 2011: USD$9,688,026 2012:USD$16,170,581 (ii) Flightequipment (afterdepreciation); 2011: USD$72,173,742 2012:USD $41,644,226 (iii) OtherAssets; 2011: USD$52,616,059 2012:USD $2,981,699

16TransportesAereosPegaso. SA de CV- Initial Exemption Application
(iv) Total assets (sum of{i}through (iii}; 2011 :USD$86,646,373 2012:USD $60,796,506 (v) Current liabilities; 2011: USD$11,804,240 2012:USD $15,083.925 (vi) Other !iabilitles; 2011: USD$0 2012:USD $0 (vii) Long-term debt; 2011: USD$19,114.415 2012:USD $38,878,467 (viii) Capital stock; 2011: USD$2,381,270 2012:USD $2,268.100 (ix) Retained earnings {balance including capital surplus); 2011: USD$53,550,030 2012:USD $4.566,014 (x) Total liabilities and equity {sum of(v) through (ix)). 2011: USD$55,727,618 2012:USD $6,076,506


### ATACHMENT

### 5: FINANCIAL

### SUMMARIES

11)0escribe the amount, type and reason for financial assistance received orexpectedfrom the applicant'sgovernment

### ifany. APPLICANT DOES NOT RECEIVE ANY FINANCIAL ASSISTANCE FROM ANY GOVERNMENT. 12)Subm!tan estimate showing the total traffic and the financial result ofthe proposed services for the first full year of normal operations and the supporting data employed to calculate the financial forecast BASED IN OUR YEARS OF EXPERIENCE WE ARE EXPECTING TO FLY THE EXECUTIVE AIRCRAFT (LEAR JET)TOTHE USA



### !7TransportesAereos Pegaso, SA de CV
- Initial Exemption ApQlication

AN AVERAGE OF 8 HOURS A MONTH WHICH AMOUNTS TO $230,000 USD PER YEAR AND OUR REGULAR OPERATION IN MEXICO AMOUNTS $990,000 USD PER YEAR.
13)For the preceding 5 years, state whether the applicant has been involved in any safetyortariffviolations oranyfatal accidents. Ifso, furnish details. FOR THE PRECEDING 5 YEARS, APPLICANT HAS NOT BEEN INVOLVED IN ANY SAFETY OR TARIFF VIOLATIONS OR ANY FATAL ACCIDENTS.
14)Submit 3 completed copies of OST Form 4523 (Waiver of liability limits underthe Warsaw Convention).
ATTACHMENT

### 6:3COPIES OF FORM 4523
WHEREFORE, Transportes Aereos Pegaso, S.A. de C.V. respectfully requests exemption authority for a term of at least two years to engage in charter foreign air transportation of passengers between Mexico and The United States of America and to engage and other passenger charter operations in accordance with 14 CFR Part 212. using small aircraft as set forth herein, and such other reliefas may be in the public interest

\ J Respectfullysubmitted by: 

# \\ "./'J\

; 

### \ ·'

' 

### \ Sergio ZepedaTie!ve Legal representative TRANSPORTESAEREOS PEGASO, S.A. DE C.V.

l8TransportesAereos Pegaso. SA de CV-Initial Exemption Application

ATTACHMENT 1: INSURANCE

\9TransportesAereos Pegaso. S.8o de CV -Initial Exemption Agp!ication

ATTACHMENT2: A.O.C.



### 20TransportesAereos Pegaso, 

### SA de CV

### -Jnl.tJgl Exemgtion Apg!ication



### ATTACHMENT3:RESSUME

21TransportesAereos Pegaso, SA de CV-Initial Exemption Application

ATTACHMENT4: COMPLETE AiRCRAFT FLEETTransportesAereos Pegaso, SA de CV -Initial Exemption Apo!icat!on

ATACHMENT 5: FINANCIALSUMMARIESTransportesAereos Pegaso, SA de CV-Initial Exemption Application

ATTACHMENT6: 3COPIES OF FORM 4523



### 24