# EXHIBIT APage1of4DIRECTORS AND OFFICERSNAME TITLE ADDRESS CITIZENSHIPJ.I.A. Arumemi-IkhideChairman/DirectorPersonal:27 Imadiyi StreetOff Etefte RoadGRABenin City,EDO State NigeriaBusiness:Arik Air Aviation CentreMurtala MuhammedDomestic AirportP.O. Box 10468Ikeja,Lagos, NigeriaTel. 08077791200NigerianDr. Michael Aigbokai ArumemiIkhideDirector/ CEOBusiness:Tower 42, 25 Old Broad StreetEC2N IHN London, England:Tel. 08077791202BritishMr. Chris Chidi NdulueDirector &AccountableManager/Executive VicePresidentBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja,Lagos, NigeriaTel. 08077791204NigerianMr. Olubiyi SangowawaDirector, NonExecutiveBusiness:Tower 42, 25 Old Broad StreetEC2N IHN London, EnglandTel. 08077791201NigerianWilliam ClarkChief FinancialOfficerBusiness:5th Floor, Tower 4225 Old Broad Street. London, UKEC2N 1HNTel: +44 (0) 207 877 0341BritishPage2of4AOC Post holdersAdo SanusiVice President ofFlight OperationsBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08055056000NigerianDuncan ForbesVice President ofMaintenanceBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791528BritishZaidan KhalifatQuality ManagerBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791223JordanianJide BakareVice President ofSafetyBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791393NigerianAdetokunbo AdekunbiChief PilotBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791390NigerianPage3of4Maury SeckChief InspectorBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791515SenegaleseOTHER COMPANY MANAGEMENTSMark GrahamVice PresidentHuman ResourcesBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791214BritishSuraj SundaramSenior VicePresident Salesand MarketingBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791207IndianDavid HenningVice PresidentCabin ServicesBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, NigeriaTel. 08077791212BritishVitor GamboaVice PresidentGroundOperationsBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791209SpanishPage4of4Miguel SerraVice PresidentOperationsControl CentreBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791220SpanishLachlan Mac-NeilVice PresidentAviation SecurityBusiness:Arik Air Aviation CentreMurtala Muhammed Domestic AirportPO Box 10468Ikeja Lagos, Nigeria.Tel. 08077791216Scottish

# EXHIBIT B

# EXHIBIT C

# EXHIBIT D

# arik air limited 

# | annual report and accounts 

# | 31 december 2008 

# wings of nigeria



# Profit and Loss account

2008 2007 2008* 2007*

N '000 N '000 US$ '000 US$ '000

Revenue 2 25,705,547 10,980,758 219,706 90,006

Cost of sales 3 (19,197,610) (9,783,415) (164,082) (80,192)

Gross profit 6,507,937 1,197,343 55,623 9,814

Selling expenses (2,998,540) (1,675,376) (25,630) (13,732)

Administrative expenses (4,710,981) (2,067,319) (40,265) (16,945)

Operating loss 4 (1,201,584) (2,545,352) (10,271) (20,863)

Finance charges 5 (3,349,297) (982,705) (28,626) (8,055)

Other income 6 16,646 508,224 142 4,165

Loss before taxation (4,534,235) (3,019,833) (38,756) (24,753)

Taxation 7

- - - -

Loss after taxation (4,534,235) (3,019,833) (38,756) (24,753)

Earnings per share:

Basic loss per share (Naira/US$) 8 (2.27) (1.59) (0.02) (0.01)

Diluted loss per share (Naira/US$) 8 (2.27) (1.59) (0.02) (0.01)

The accounting policies and the notes on pages 25 to 40 form an integral part of these financial

statements. * 

# Dollar denominated amounts are converted at a memorandum rate of N117 to US$1 (2007: N122 to

US$1), based on average exchange rates in effect during the year. Note

24

# arik air limited 

# | annual report and accounts 

# | 31 december 2008 

# wings of nigeria



# Balance sheet

2008 2007 2008* 2007*

N '000 N '000 US$ '000 US$ '000

Property, plant & equipment 9 55,154,753 27,871,961 421,029 238,222

Current assets

Inventories 10 1,898,504 106,997 14,493 915

Receivables & prepayments 11 3,436,372 1,318,837 26,232 11,272

Deposits for aircraft 12 15,284,731 6,514,349 116,677 55,678

Cash & cash equivalents 13 1,967,549 246,522 15,019 2,107

22,587,156 8,186,705 172,421 69,972

Current liabilities

Current income taxation 7

- - - - Payables & accrued expenses 14 (6,996,555) (2,044,518) (53,409) (17,475)

Borrowings 15 (18,316,115) (5,795,318) (139,818) (49,532)

(25,312,670) (7,839,836) (193,227) (67,007)

Net current (liabilities)/assets (2,725,514) 346,869 (20,806) 2,965

Non-current liabilities

Borrowings 15 (31,366,709) (19,163,332) (239,441) (163,789)

Deferred income taxation 16

- - - - Amounts due to related parties 17 (13,726,448) (8,539,568) (104,782) (72,988)

(45,093,157) (27,702,900) (344,223) (236,777)

Net assets 7,336,082 515,930 56,000 4,410

Capital employed

Share capital 18 2,000,000 2,000,000 15,267 17,094

Deposit for shares 19 13,100,000 3,500,000 100,000 29,914

Reserves 20 (7,763,918) (4,984,070) (59,267) (42,598)

Shareholders' funds 7,336,082 515,930 56,000 4,410

The financial statements on pages 22 through 40 were approved by the board of directors on

Director Director * 

# Dollar denominated amounts are translated at a memorandum rate of N131 to US$1 (2007: N117 to

US$1), based on exchange rates in effect at the end of the year.

2010 and signed on its behalf by: Note

25

# EXHIBIT E

Confidential Treatment Requested Under 14 CFR Section

302.12

Submitted under seal with Motion for Confidential Treatment

# EXHIBIT F