| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 1/15                  |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

----

| Clauses |                                         |      |
|---------|----------------------------------------------|-----------|
|    |                                         |      |
| 0       | SUPPLEMENTARY DEFINITIONS                    |   5  |
|    |                                         |      |
| 1       | QUANTITY                                     |   7  |
|    |                                         |      |
| 2       | AIRCRAFT DEFINITION                          |   7  |
|    |                                         |      |
| 3       | BASE PRICES                                  |   8  |
|    |                                         |      |
| 4       | DELIVERY SCHEDULE                            |   9  |
|    |                                         |      |
| 5       | PAYMENTS                                     |   10 |
|    |                                         |      |
| 6       | LIQUIDATED DAMAGES                           |   10 |
|    |                                         |      |
| 7       | WARRANTIES AND SERVICE LIFE POLICY           |   10 |
|    |                                         |      |
| 8       | TECHNICAL DATA                               |   11 |
|    |                                         |      |
| 9       | SELLER REPRESENTATIVE SERVICES               |   12 |
|    |                                         |      |
| 10      | NEGOTIATED AGREEMENT                         |   12 |
|    |                                         |      |
| 11      | APPLICABILITY                                |   12 |
|    |                                         |      |
| 12      | CONFIDENTIALITY                              |   13 |
|    |                                         |      |
| 13      | CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999 |  13  |
|    |                                         |      |
| 14      | LAW AND JURIDICTION                          |   13 |
|    |                                         |      |
| 15      | COUNTERPARTS                                 |   14 |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 2/15                  |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| A      | A330-300 STANDARD SPECIFICATION          |
|--------|------------------------------------------|
|   |                                     |
| B      | AIRFRAME PRICE REVISION FORMULA          |
|   |                                     |
| C1     | GENERAL ELECTRIC PRICE REVISION FORMULA  |
|   |                                     |
| C2     | PRATT AND WHITNEY PRICE REVISION FORMULA |
|   |                                     |
| C3     | ROLLS ROYCE PRICE REVISION FORMULA       |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 3/15                  |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| A. | The Seller and the Buyer, with the consent of the Consenting Party, have signed an aircraft general terms agreement reference CT0803291 dated February 2nd, 2010 (the “AGTA“) which constitutes an integral part of this Agreement. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| B. | Subject to the terms and conditions of this Agreement and of the AGTA, the Seller desires to sell the Aircraft to the Buyer and the Buyer desires to purchase the Aircraft from the Seller. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 4/15                  |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| 0. | SUPPLEMENTARY DEFINITIONS |
|----|---------------------------|

| 0.1 | In addition to the words and the terms elsewhere defined in this Agreement, the initially capitalised words and terms used in this Agreement shall have the meaning set out below. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 0.2 | Capitalised words and terms used in this Agreement which are not defined herein shall have the meaning assigned thereto in the AGTA. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------|

|   | A330-300 Airframe | means the A330-300 Aircraft excluding the A330-200 Propulsion Systems. |
|--------|-------------------|------------------------------------------------------------------------|

|   | A330-300 Aircraft | means an Airbus A330-300 model aircraft including the A330-300 Airframe, the applicable Propulsion Systems, and any part, component, furnishing or equipment installed on the A330-300 Aircraft on Delivery under the terms and conditions of this Agreement and the AGTA. |
|--------|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | A330-300 Specification | means either (a) the A330-300 Standard Specification if no SCNs are applicable or (b) if SCNs are issued, the A330-300 Standard Specification as amended by all applicable SCNs and MSCNs. |
|--------|------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Specification | means the A330-300 standard specification document number G.000.03000 Issue 8, dated October 30th, 2009, a copy of which has been annexed hereto as Appendix A2, with the following design weights: |
|--------|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | MTOW: | 233.0 tonnes |
|--------|-------|--------------|

|   | MLW: | 187.0 tonnes and |
|--------|------|------------------|

|   | MZFW: | 175.0 tonnes |
|--------|-------|--------------|

|   | Airframe Base Price | means the A330-300 Airframe Base Price set forth in Clause 3.1 |
|--------|---------------------|----------------------------------------------------------------|

|   | Aircraft | means any or all of the A330-300 Aircraft. |
|--------|----------|--------------------------------------------|

|   | Condition Year | *** |
|--------|----------------|-----|

|   | Base Price | means the sum of the applicable Airframe Base Price and the applicable Propulsion Systems Base Price. |
|--------|------------|-------------------------------------------------------------------------------------------------------|

|   | Damages Amount | as specified in Clause 6. |
|--------|----------------|---------------------------|

|   | First Quarter, or Q1 | means the months of January, February, and March. |
|--------|----------------------|---------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 5/15                  |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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|   | Fourth Quarter, or Q4 | means the months of October, November, and December. |
|--------|-----------------------|------------------------------------------------------|

|   | Period | as specified in Clause 8.2. |
|--------|--------|-----------------------------|

|   | Base Price | as specified in Clause 3.2 |
|--------|------------|----------------------------|

|   | Manufacturer | means the manufacturer of the selected Propulsion Systems |
|--------|--------------|-----------------------------------------------------------|

|   | Reference Price | as specified in Clause 3.2 |
|--------|-----------------|----------------------------|

|   | Quarter | means any or all of the First Quarter, Second Quarter, Third Quarter and Fourth Quarter |
|--------|---------|-----------------------------------------------------------------------------------------|

|   | Period | as specified in Clause 8.1. |
|--------|--------|-----------------------------|

|   | Second Quarter, or Q2 | means the months of April, May, and June. |
|--------|-----------------------|-------------------------------------------|

|   | Third Quarter, or Q3 | means the months of July, August, and September. |
|--------|----------------------|--------------------------------------------------|

| 0.3 | Clause headings and the index are inserted for convenience of reference only and shall be ignored in the interpretation of this Agreement |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

| 0.4 | In this Agreement unless the context otherwise requires: |
|-----|----------------------------------------------------------|

|   | (a) | references to Clauses, Schedules, Appendices, and Exhibits are to be construed as references to the Clauses, Schedules, Appendices, and Exhibits to this Agreement and references to this Agreement include its Clauses, Schedules, Exhibits and Appendices. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | words importing the plural shall include the singular and vice versa; and |
|--------|-----|---------------------------------------------------------------------------|

|   | (c) | references to a person shall be construed as including, without limitation, references to an individual, firm, company, corporation, unincorporated body of persons and any state or agency of a state. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 6/15                  |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| 1. | QUANTITY |
|----|----------|

|   | The Seller shall sell and deliver and the Buyer shall buy and take delivery of six (6) A330-300 Aircraft on the Delivery Date at the Delivery Location upon the terms and conditions contained in this Agreement. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | AIRCRAFT DEFINITION |
|----|---------------------|

| 2.1 | Aircraft Standard Specification Definition |
|-----|--------------------------------------------|

|   | The A330-300 Aircraft shall be manufactured in accordance with the A330-300 Specification. |
|--------|--------------------------------------------------------------------------------------------|

| 2.2 | Propulsion Systems |
|-----|--------------------|

| 2.2.1 | The A330-300 Airframe shall be equipped with a set of two (2): |
|-------|----------------------------------------------------------------|

|   | (i) | General Electric CF6-80E1A4 engines, or |
|--------|-----|-----------------------------------------|

|   | (ii) | Pratt & Whitney 4170 engines, or |
|--------|------|--------------------------------------|

|   | (iii) | Rolls Royce Trent 772B engines |
|--------|-------|--------------------------------|

| 2.2.2 | The Buyer shall notify the Seller in writing of its selection of Propulsion Systems type for the Aircraft by no later than *** prior to the Scheduled Delivery Month of the first Aircraft based on the Aircraft delivery schedule set forth in Clause 4 herein. Such selection shall be incorporated in the applicable Aircraft Specification by signature of a Specification Change Notice. If the Buyer does not select its Propulsion Systems type as agreed herein, in addition to its other rights and remedies, the Seller will have the right to defer the Scheduled Delivery Months of any or all of the Aircraft. |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 7/15                  |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| 3. | BASE PRICES |
|----|-------------|

| 3.1 | Airframe Base Price |
|-----|---------------------|

|   | (i) | the base price of the standard A330-300 Airframe as defined in the A330-300 Standard Specification excluding Buyer Furnished Equipment, which is: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the budgetary sum of the base prices of the A330-300 Specification Change Notices (SCNs) , which is: |
|--------|------|------------------------------------------------------------------------------------------------------|

| 3.2 | Propulsion Systems Base Price |
|-----|-------------------------------|

| 3.2.1 | General Electric |
|-------|------------------|

| 3.2.2 | Pratt and Whitney |
|-------|-------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 8/15                  |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| 3.2.3 | Rolls-Royce |
|-------|-------------|

| 3.3 | Base Price of the Aircraft |
|-----|----------------------------|

| 4. | DELIVERY SCHEDULE |
|----|-------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 9/15                  |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| 5. | PAYMENTS |
|----|----------|

| 5.1 | With respect to Clause 5.3.1 of the AGTA, the Predelivery Payment Rreference Price is determined by the following formula: |
|-----|----------------------------------------------------------------------------------------------------------------------------|

| 5.2 | With respect to Clause 5.3.2 of the AGTA, the Predelivery Payments shall be made in accordance with the following schedule: |
|-----|-----------------------------------------------------------------------------------------------------------------------------|

|   | *** |
|--------|-----|

| 5.3 | With respect to Clause 5.3.5 of the AGTA, the Seller shall be entitled to request Predelivery Payments for each SCN executed after signature of this Agreement: |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | LIQUIDATED DAMAGES |
|----|--------------------|

| 7. | WARRANTIES AND SERVICE LIFE POLICY |
|----|------------------------------------|

| 7.1 | With respect to Clause 12.1.3 of the AGTA, the Warranty Period shall be *** |
|-----|-----------------------------------------------------------------------------|

| 7.2 | With respect to Clause 12.2.2 of the AGTA, if a Failure occurs in an Item before the Aircraft in which such Item has been originally installed has completed ***, then the Seller shall comply with the undertakings defined in such Clause 12.2.2. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.3 | With respect to Clause 12.2.3 of the AGTA, *** |
|-----|------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 10/15                 |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| 7.4 | Waiver, Release and Renunciation |
|-----|----------------------------------|

|   | THE WARRANTIES, OBLIGATIONS AND LIABILITIES OF THE SELLER (AS DEFINED BELOW FOR THE PURPOSES OF THIS CLAUSE) AND REMEDIES OF THE BUYER SET FORTH IN CLAUSE 12 AND CLAUSE 14 OF THE AGTA ARE EXCLUSIVE AND IN SUBSTITUTION FOR, AND THE BUYER HEREBY WAIVES, RELEASES AND RENOUNCES ALL OTHER WARRANTIES, OBLIGATIONS AND LIABILITIES OF THE SELLER AND RIGHTS, CLAIMS AND REMEDIES OF THE BUYER AGAINST THE SELLER, EXPRESS OR IMPLIED, ARISING BY LAW, CONTRACT OR OTHERWISE, WITH RESPECT TO ANY NON-CONFORMITY OR DEFECT OF ANY KIND, IN ANY AIRCRAFT, COMPONENT, EQUIPMENT, ACCESSORY, PART, SOFTWARE, DATA OR SERVICES DELIVERED UNDER THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO: |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | A. | ANY WARRANTY AGAINST HIDDEN DEFECTS; |
|--------|----|--------------------------------------|

|   | B. | ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS; |
|--------|----|-----------------------------------------------------|

|   | C. | ANY IMPLIED WARRANTY ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OR TRADE; |
|--------|----|-----------------------------------------------------------------------------------------------|

|   | D. | ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY, WHETHER IN CONTRACT OR IN TORT, WHETHER OR NOT ARISING FROM THE SELLER’S NEGLIGENCE, ACTUAL OR IMPUTED; AND |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | E. | ANY OBLIGATION, LIABILITY, RIGHT, CLAIM, OR REMEDY FOR LOSS OF OR DAMAGE TO ANY AIRCRAFT, COMPONENT, EQUIPMENT, ACCESSORY, PART, SOFTWARE, DATA OR SERVICES DELIVERED UNDER THIS AGREEMENT, FOR LOSS OF USE, REVENUE OR PROFIT, OR FOR ANY OTHER DIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | TECHNICAL DATA |
|----|----------------|

| 8.1 | Pursuant to Clause 14 of the AGTA, Technical Data shall be supplied in accordance with Exhibit G of the AGTA *** (the “Revision Service Period”). |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.2 | Pursuant to Clause 14.13.3 of the AGTA, the license to use the Performance Engineer Program (the “PEP”) and the revision service shall be provided *** (the “PEP Revision Service Period”). |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.3 | With respect to Clause 14.7 of the AGTA, upon request by the Buyer, the Seller shall provide up to *** of Technical Data familiarization training at the Seller’s or the Buyer’s facilities. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 11/15                 |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| 9. | SELLER REPRESENTATIVE SERVICES |
|----|--------------------------------|

| 9.1 | The Seller shall provide to the Buyer a total of *** of Seller Representative Services per Aircraft at the Buyer's main base or at other locations to be mutually agreed. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.2 | For the sake of clarification, such Seller Representatives’ services shall include initial Aircraft Entry Into Service assistance, sustaining support services and spares representatives. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.3 | The number of the Seller Representatives assigned to the Buyer at any one time shall be mutually agreed, but shall at no time exceed *** Seller Representatives. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10. | NEGOTIATED AGREEMENT |
|-----|----------------------|

| 11. | APPLICABILITY |
|-----|---------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 12/15                 |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

----

| 12. | CONFIDENTIALITY |
|-----|-----------------|

| 13. | CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999 |
|-----|----------------------------------------------|

| 14. | LAW AND JURISDICTION |
|-----|----------------------|

| 14.1 | This Agreement and the AGTA shall be governed by and construed in accordance with the laws of England. |
|------|--------------------------------------------------------------------------------------------------------|

| 14.2 | Any dispute, controversy or claim arising out of or in connection with this Agreement and/or the AGTA, including any question regarding their existence, validity or termination ("Dispute") shall be referred to and finally resolved in accordance with the following procedure. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 13/15                 |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

----

| 15. | COUNTERPARTS |
|-----|--------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 14/15                 |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

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| Agreed and Accepted                   |         | Agreed and Accepted   |
|---------------------------------------|--------------|-----------------------|
|                                  |         |                  |
| For and on behalf of:                 |         | For and on behalf of: |
|                                  |         |                  |
| CHINA SOUTHERN AIRLINES               |         | AIRBUS S.A.S.         |
| COMPANY LIMITED                       |         |                  |
|                                  |         |                  |
| Name:                                 |    |                  | Name: |    |
|                                  |         |                  |   |   |
| Title:                                |    |                  | Title: |    |
|                                  |         |                  |   |   |
| Signature:                            |    |                  | Signature: |    |
|                                  |         |                  |
| Witnessed and acknowledged,           |         |                  |
|                                  |         |                  |
| For and on behalf of                  |         |                  |
|                                  |         |                  |
| CHINA SOUTHERN AIRLINES GROUP         |         |                  |
| IMPORT AND EXPORT TRADING CORP., LTD. |         |                  |
|                                  |         |                  |
| Name:                                 |    |                  |   |
|                                  |         |                  |   |
| Title:                                |    |                  |   |
|                                  |         |                  |   |
| Signature:                            |    |                  |   |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | Page 15/15                 |
|------------------|----------------------------|
| CT1004628        | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 |       | Page 1/1                   |
|------------------|------------|----------------------------|
| CT1004628        | Appendix A | Private & Confidential |

----

| 1 | BASE PRICE |
|---|------------|

| 2 | BASE PERIOD |
|---|-------------|

| 3 | INDEXES |
|---|---------|

| 4 | REVISION FORMULA |
|---|------------------|

| 5 | GENERAL PROVISIONS |
|---|--------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 |       | Page 1/1                    |
|------------------|------------|-----------------------------|
| CT1004628        | Appendix B | Private & Confidenti al |

----

| 1 | REFERENCE PRICE OF THE PROPULSION SYSTEMS |
|---|-------------------------------------------|

| 2 | REFERENCE PERIOD |
|---|------------------|

| 3 | INDEXES |
|---|---------|

| 4 | REVISION FORMULA |
|---|------------------|

| 5 | GENERAL PROVISIONS |
|---|--------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 |           | Page 1/1                   |
|------------------|----------------|----------------------------|
| CT1004628        | Appendix C1 GE | Private & Confidential |

----

| 1 | REFERENCE PRICE OF THE PROPULSION SYSTEMS |
|---|-------------------------------------------|

| 2 | REFERENCE PERIOD |
|---|------------------|

| 3 | INDEXES |
|---|---------|

| 4 | REVISION FORMULA |
|---|------------------|

| 5 | GENERAL PROVISIONS |
|---|--------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 |           | Page 1/1                   |
|------------------|----------------|----------------------------|
| CT1004628        | Appendix C2 PW | Private & Confidential |

----

| 1 | REFERENCE PRICE OF THE PROPULSION SYSTEMS |
|---|-------------------------------------------|

| 2 | REFERENCE PERIOD |
|---|------------------|

| 3 | INDEXES |
|---|---------|

| 4 | REVISION FORMULA |
|---|------------------|

| 5 | GENERAL PROVISIONS |
|---|--------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 |           | Page 1/1                   |
|------------------|----------------|----------------------------|
| CT1004628        | Appendix C3 RR | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA0    | Page 1/2                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| LETTER    |                     |
|-----------|--------------------------|
| AGREEMENT |                     |
|      |                     |
| N°1  | ***                      |
|      |                     |
| N°2  | ***                      |
|      |                     |
| N°3  | ***                      |
|      |                     |
| N°4  | ***                      |
|      |                     |
| N°5  | PERFORMANCE GUARANTEES   |
|      |                     |
| N°6  | MISCELLANEOUS MATTERS    |
|      |                     |
| N°7  | CUSTOMER SUPPORT MATTERS |
|      |                     |
| N°8  | ***                      |
|      |                     |
| SIDE      |                     |
| LETTER    |                     |
|      |                     |
| N°1  | ***                      |
|      |                     |
| N°2  | ***                      |
|      |                     |
| N°3  | ***                      |
|      |                     |
| N°4  | ***                      |
|      |                     |
| N°5  | ***                      |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA0    | Page 2/2                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA1    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| 6. | Assignment |
|----|------------|

| 7. | Confidentiality |
|----|-----------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA1    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted     |   | Agreed and Accepted   |
|-------------------------|--------|-----------------------|
|                    |   |                  |
| For and on behalf of:   |   | For and on behalf of: |
|                    |   |                  |
| CHINA SOUTHERN AIRLINES |   | AIRBUS S.A.S.         |
| COMPANY LIMITED         |   |                  |
|                    |   |                  |
| Name:                   |   |                  | Name: |   |
|                    |   |                  |
| Title:                  |   |                  | Title: |   |
|                    |   |                  |
| Signature:              |   |                  | Signature: |   |

| Witnessed and acknowledged,           |   |
|---------------------------------------|--------|
|                                  |   |
| For and on behalf of                  |   |
|                                  |   |
| CHINA SOUTHERN AIRLINES GROUP         |   |
| IMPORT AND EXPORT TRADING CORP., LTD. |   |
|                                  |   |
| Name:                                 |   |   |
|                                  |   |
| Title:                                |   |   |
|                                  |   |
| Signature:                            |   |   |

|   |   | , 2010 |
|--------|--------|--------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA1    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA2    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| 2. | Assignment |
|----|------------|

| 3. | Confidentiality |
|----|-----------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA2    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted     |   | Agreed and Accepted   |
|-------------------------|--------|-----------------------|
|                    |   |                  |
| For and on behalf of:   |   | For and on behalf of: |
|                    |   |                  |
| CHINA SOUTHERN AIRLINES |   | AIRBUS S.A.S.         |
| COMPANY LIMITED         |   |                  |
|                    |   |                  |
| Name:                   |   |                  | Name: |   |
|                    |   |                  |
| Title:                  |   |                  | Title: |   |
|                    |   |                  |
| Signature:              |   |                  | Signature: |   |

| Witnessed and acknowledged,           |   |
|---------------------------------------|--------|
|                                  |   |
| For and on behalf of                  |   |
|                                  |   |
| CHINA SOUTHERN AIRLINES GROUP         |   |
| IMPORT AND EXPORT TRADING CORP., LTD. |   |
|                                  |   |
| Name:                                 |   |   |
|                                  |   |
| Title:                                |   |   |
|                                  |   |
| Signature:                            |   |   |

|   |   | , 2010 |
|--------|--------|--------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA2    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA3    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| 2. | Assignment |
|----|------------|

| 3. | Confidentiality |
|----|-----------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA3    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted     |   | Agreed and Accepted   |
|-------------------------|--------|-----------------------|
|                    |   |                  |
| For and on behalf of:   |   | For and on behalf of: |
|                    |   |                  |
| CHINA SOUTHERN AIRLINES |   | AIRBUS S.A.S.         |
| COMPANY LIMITED         |   |                  |
|                    |   |                  |
| Name:                   |   |                  | Name: |   |
|                    |   |                  |
| Title:                  |   |                  | Title: |   |
|                    |   |                  |
| Signature:              |   |                  | Signature: |   |

| Witnessed and acknowledged,           |   |
|---------------------------------------|--------|
|                                  |   |
| For and on behalf of                  |   |
|                                  |   |
| CHINA SOUTHERN AIRLINES GROUP         |   |
| IMPORT AND EXPORT TRADING CORP., LTD. |   |
|                                  |   |
| Name:                                 |   |   |
|                                  |   |
| Title:                                |   |   |
|                                  |   |
| Signature:                            |   |   |

|   |   | , 2010 |
|--------|--------|--------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA3    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA4    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| 6. | Assignment |
|----|------------|

| 7. | Confidentiality |
|----|-----------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA4    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted     |   | Agreed and Accepted   |
|-------------------------|--------|-----------------------|
|                    |   |                  |
| For and on behalf of:   |   | For and on behalf of: |
|                    |   |                  |
| CHINA SOUTHERN AIRLINES |   | AIRBUS S.A.S.         |
| COMPANY LIMITED         |   |                  |
|                    |   |                  |
| Name:                   |   |                  | Name: |   |
|                    |   |                  |
| Title:                  |   |                  | Title: |   |
|                    |   |                  |
| Signature:              |   |                  | Signature: |   |

| Witnessed and acknowledged,           |   |
|---------------------------------------|--------|
|                                  |   |
| For and on behalf of                  |   |
|                                  |   |
| CHINA SOUTHERN AIRLINES GROUP         |   |
| IMPORT AND EXPORT TRADING CORP., LTD. |   |
|                                  |   |
| Name:                                 |   |   |
|                                  |   |
| Title:                                |   |   |
|                                  |   |
| Signature:                            |   |   |

|   |   | , 2010 |
|--------|--------|--------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA4    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| 1 | PERFORMANCE GUARANTEES |
|---|------------------------|

|   | The guarantees applicable to the Aircraft are attached in the following appendixes hereto : |
|--------|---------------------------------------------------------------------------------------------|

| Appendix |   | Aircraft |   | Propulsion Systems     |
|----------|--------|----------|--------|-----------------------------|
|     |   |     |   |                        |
| 1        |   | A330-300 |   | General Electric CF6-80E1A4 |
|     |   |     |   |                        |
| 2        |   | A330-300 |   | Pratt & Whitney 4170    |
|     |   |     |   |                        |
| 3        |   | A330-300 |   | Rolls Royce Trent 772B      |

| 2. | ASSIGNMENT |
|----|------------|

|   | Notwithstanding any other provision of this Letter Agreement, the AGTA or the Purchase Agreement, this Letter Agreement and the rights and obligations of the Buyer herein shall not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this Clause shall be void and of no force or effect. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | CONFIDENTIALITY |
|----|-----------------|

|   | This Letter Agreement (and its existence) shall be treated by the Parties as confidential and shall not be released (or revealed) in whole or in part to any third party without the prior consent of the other Parties. In particular, each Party agrees not to make any press release concerning the whole or any part of the contents and/or subject matter hereof or of any future addendum hereto without the prior consent of the other Parties. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted                   |   | Agreed and Accepted              |
|---------------------------------------|--------|----------------------------------|
|                                  |   |                             |
| For and on behalf of:                 |   | For and on behalf of:            |
|                                  |   |                             |
| CHINA SOUTHERN AIRLINES               |   | AIRBUS S.A.S.                    |
|                                  |   |                             |
| COMPANY LIMITED                       |   |                             |
|                                  |   |                             |
| Name: ______________________          |   | Name: ________________________   |
|                                  |   |                             |
| Title: _______________________        |   | Title: _________________________ |
|                                  |   |                             |
| Signature: ___________________        |   | Signature: _____________________ |
|                                  |   |                             |
| Witnessed and acknowledged,           |   |                             |
|                                  |   |                             |
| For and on behalf of                  |   |                             |
|                                  |   |                             |
| CHINA SOUTHERN AIRLINES GROUP         |   |                             |
|                                  |   |                             |
| IMPORT AND EXPORT TRADING CORP., LTD. |   |                             |
|                                  |   |                             |
| Name: ______________________          |   |                             |
|                                  |   |                             |
| Title: _______________________        |   |                             |
|                                  |   |                             |
| Signature: ___________________        |   |                             |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| 1. | AIRCRAFT CONFIGURATION |
|----|------------------------|

| 2. | GUARANTEED PERFORMANCE |
|----|------------------------|

| 2.1 | Speed |
|-----|-------|

| 2.2 | Specific Range |
|-----|----------------|

|   | Weight | Pressure Altitude |
|--------|--------|-------------------|
|   | ***    | ***               |

| 2.3 | Take-off |
|-----|----------|

| 2.4 | Second Segment Climb |
|-----|----------------------|

| 2.5 | Landing Field Length |
|-----|----------------------|

| 2.6 | En-route One Engine Inoperative |
|-----|---------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5             | Page 1/3                   |
|------------------|-----------------|----------------------------|
| CT1004628        | APPENDIX 1 - GE | Private & Confidential |

----

| 3. | MANUFACTURER'S WEIGHT EMPTY |
|----|-----------------------------|

| 4. | GUARANTEE CONDITIONS |
|----|----------------------|

| 4.1. | The performance certification requirements for the Aircraft, except where otherwise stated, will be as stated in Section 02 of the Specification. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2. | For the determination of JAR take-off and landing performance a hard level dry runway surface with no runway strength limitations, no line-up allowance, no obstacles, zero wind, atmosphere according to ISA, except as otherwise stated and the use of speedbrakes, flaps, landing gear and engines in the conditions liable to provide the best results will be assumed. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.1. | When establishing take-off and second segment performance no air will be bled from the engines for cabin air conditioning or anti-icing. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.2. | When establishing en-route one engine inoperative climb performance the air conditioning bleed shall be on but no air will be bled from the engines for anti-icing. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.3. | Climb, cruise and descent performance associated with the Guarantees will include allowances for normal electrical load and for normal engine air bleed and power extraction associated with maximum cabin differential pressure as defined in Section 21-30.31 of the Specification. Cabin air conditioning management during performance demonstration as described in Clause 5.3 may be such as to optimize the Aircraft performance while meeting the minimum air conditioning requirements defined above. Unless otherwise stated no air will be bled from the engines for anti-icing. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.4. | The engines will be operated using not more than the engine manufacturer's maximum recommended outputs for take-off, maximum go-round, maximum continuous, maximum climb and cruise for normal operation unless otherwise stated. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.5. | Where applicable the Guarantees assume the use of an approved fuel having a density of *** and a lower heating value of ***. |
|------|------------------------------------------------------------------------------------------------------------------------------|

| 5. | GUARANTEE COMPLIANCE |
|----|----------------------|

| 5.1. | Compliance with the Guarantees shall be demonstrated using operating procedures and limitations in accordance with those defined by the certifying Airworthiness Authority and by the Seller unless otherwise stated. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5             | Page 2/3                   |
|------------------|-----------------|----------------------------|
| CT1004628        | APPENDIX 1 - GE | Private & Confidential |

----

| 5.2. | Compliance with the take-off, second segment, en-route one engine inoperative and landing elements of the Guarantees will be demonstrated with reference to the approved Flight Manual. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.3. | Compliance with those parts of the guarantees defined in Clause 2 not covered by the requirements of the certifying Airworthiness Authority shall be demonstrated by calculation based on data obtained during flight tests conducted on one (or more, at the Seller's discretion) A330-300 aircraft of the same aerodynamic configuration as those Aircraft purchased by the Buyer and incorporated in the In-Flight Performance Program and data bases appropriate to the Aircraft.. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.4. | Compliance with the Manufacturer's Weight Empty guarantee defined in Clause 3 shall be demonstrated with reference to a weight compliance report. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.5. | Data derived from tests will be adjusted as required using conventional methods of correction, interpolation or extrapolation in accordance with established aeronautical practices to show compliance with the Guarantees. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.6. | Compliance with the Guarantees is not contingent on engine performance defined in the engine manufacturer's specification. |
|------|----------------------------------------------------------------------------------------------------------------------------|

| 5.7. | The Seller undertakes to furnish the Buyer with a report or reports demonstrating compliance with the Guarantees at, or as soon as possible after, the delivery of each of the Buyer's A330-300 Aircraft |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | ADJUSTMENT OF GUARANTEES |
|----|--------------------------|

| 6.1. | If any change to any law, governmental regulation or requirement or interpretation thereof by any governmental agency (a “Rule Change” is made subsequent to the date of the Purchase Agreement and such Rule Change affects the Aircraft configuration and/or performance required to obtain certification, then the Guarantees shall be appropriately modified to reflect the effect of any such Rule Change. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2. | The Guarantees apply to the Aircraft as described in Clause 1 and may be adjusted in the event of : |
|------|-----------------------------------------------------------------------------------------------------|

| 7. | EXCLUSIVE GUARANTEES |
|----|----------------------|

| 8. | *** |
|----|-----|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5             | Page 3/3                   |
|------------------|-----------------|----------------------------|
| CT1004628        | APPENDIX 1 - GE | Private & Confidential |

----

| 1. | AIRCRAFT CONFIGURATION |
|----|------------------------|

| 2. | GUARANTEED PERFORMANCE |
|----|------------------------|

| 2.1 | Speed |
|-----|-------|

| 2.2 | Specific Range |
|-----|----------------|

|   | Weight | Pressure Altitude |
|--------|--------|-------------------|
|   | ***    | ***               |

| 2.3 | Take-off |
|-----|----------|

| 2.4 | Second Segment Climb |
|-----|----------------------|

| 2.5 | Landing Field Length |
|-----|----------------------|

| 2.6 | En-route One Engine Inoperative |
|-----|---------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5             | Page 1/3                   |
|------------------|-----------------|----------------------------|
| CT1004628        | APPENDIX 2 - PW | Private & Confidential |

----

| 3. | MANUFACTURER'S WEIGHT EMPTY |
|----|-----------------------------|

| 4. | GUARANTEE CONDITIONS |
|----|----------------------|

| 4.1. | The performance certification requirements for the Aircraft, except where otherwise stated, will be as stated in Section 02 of the Specification. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2. | For the determination of JAR take-off and landing performance a hard level dry runway surface with no runway strength limitations, no line-up allowance, no obstacles, zero wind, atmosphere according to ISA, except as otherwise stated and the use of speedbrakes, flaps, landing gear and engines in the conditions liable to provide the best results will be assumed. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.1. | When establishing take-off and second segment performance no air will be bled from the engines for cabin air conditioning or anti-icing. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.2. | When establishing en-route one engine inoperative climb performance the air conditioning bleed shall be on but no air will be bled from the engines for anti-icing. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.3. | Climb, cruise and descent performance associated with the Guarantees will include allowances for normal electrical load and for normal engine air bleed and power extraction associated with maximum cabin differential pressure as defined in Section 21-30.31 of the Specification. Cabin air conditioning management during performance demonstration as described in Clause 5.3 may be such as to optimize the Aircraft performance while meeting the minimum air conditioning requirements defined above. Unless otherwise stated no air will be bled from the engines for anti-icing. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.4. | The engines will be operated using not more than the engine manufacturer's maximum recommended outputs for take-off, maximum go-round, maximum continuous, maximum climb and cruise for normal operation unless otherwise stated. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.5. | Where applicable the Guarantees assume the use of an approved fuel having a density of *** and a lower heating value of *** |
|------|-----------------------------------------------------------------------------------------------------------------------------|

| 5. | GUARANTEE COMPLIANCE |
|----|----------------------|

| 5.1. | Compliance with the Guarantees shall be demonstrated using operating procedures and limitations in accordance with those defined by the certifying Airworthiness Authority and by the Seller unless otherwise stated. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5             | Page 2/3                   |
|------------------|-----------------|----------------------------|
| CT1004628        | APPENDIX 2 - PW | Private & Confidential |

----

| 5.2. | Compliance with the take-off, second segment, en-route one engine inoperative and landing elements of the Guarantees will be demonstrated with reference to the approved Flight Manual. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.3. | Compliance with those parts of the guarantees defined in Clause 2 not covered by the requirements of the certifying Airworthiness Authority shall be demonstrated by calculation based on data obtained during flight tests conducted on one (or more, at the Seller's discretion) A330-300 aircraft of the same aerodynamic configuration as those Aircraft purchased by the Buyer and incorporated in the In-Flight Performance Program and data bases appropriate to the Aircraft.. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.4. | Compliance with the Manufacturer's Weight Empty guarantee defined in Clause 3 shall be demonstrated with reference to a weight compliance report. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.5. | Data derived from tests will be adjusted as required using conventional methods of correction, interpolation or extrapolation in accordance with established aeronautical practices to show compliance with the Guarantees. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.6. | Compliance with the Guarantees is not contingent on engine performance defined in the engine manufacturer's specification. |
|------|----------------------------------------------------------------------------------------------------------------------------|

| 5.7. | The Seller undertakes to furnish the Buyer with a report or reports demonstrating compliance with the Guarantees at, or as soon as possible after, the delivery of each of the Buyer's A330-300 Aircraft |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | ADJUSTMENT OF GUARANTEES |
|----|--------------------------|

| 6.1. | If any change to any law, governmental regulation or requirement or interpretation thereof by any governmental agency (a “Rule Change” is made subsequent to the date of the Purchase Agreement and such Rule Change affects the Aircraft configuration and/or performance required to obtain certification, then the Guarantees shall be appropriately modified to reflect the effect of any such Rule Change. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2. | The Guarantees apply to the Aircraft as described in Clause 1 and may be adjusted in the event of : |
|------|-----------------------------------------------------------------------------------------------------|

| 7. | EXCLUSIVE GUARANTEES |
|----|----------------------|

| 8. | *** |
|----|-----|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5             | Page 3/3                   |
|------------------|-----------------|----------------------------|
| CT1004628        | APPENDIX 2 - PW | Private & Confidential |

----

| 1. | AIRCRAFT CONFIGURATION |
|----|------------------------|

|   | (i)  | installation of  ROLLS ROYCE TRENT 772B engines |
|--------|-----------|------------------------------------------------------|

|   | (ii)  | *** |
|--------|------------|-----|

| 2. | GUARANTEED PERFORMANCE |
|----|------------------------|

| 2.1 | Speed |
|-----|-------|

| 2.2 | Specific Range |
|-----|----------------|

| Weight | Pressure Altitude |
|--------|-------------------|
| ***    | ***               |

| 2.3 | Take-off |
|-----|----------|

| 2.4 | Second Segment Climb |
|-----|----------------------|

| 2.5 | Landing Field Length |
|-----|----------------------|

| 2.6 | En-route One Engine Inoperative |
|-----|---------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5             | Page 1/3                   |
|------------------|-----------------|----------------------------|
| CT1004628        | APPENDIX 3 - RR | Private & Confidential |

----

| 3. | MANUFACTURER'S WEIGHT EMPTY |
|----|-----------------------------|

| 4. | GUARANTEE CONDITIONS |
|----|----------------------|

| 4.1. | The performance certification requirements for the Aircraft, except where otherwise stated, will be as stated in Section 02 of the Specification. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2. | For the determination of JAR take-off and landing performance a hard level dry runway surface with no runway strength limitations, no line-up allowance, no obstacles, zero wind, atmosphere according to ISA, except as otherwise stated and the use of speedbrakes, flaps, landing gear and engines in the conditions liable to provide the best results will be assumed. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.1. | When establishing take-off and second segment performance no air will be bled from the engines for cabin air conditioning or anti-icing. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2.2. | When establishing en-route one engine inoperative climb performance the air conditioning bleed shall be on but no air will be bled from the engines for anti-icing. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.3. | Climb, cruise and descent performance associated with the Guarantees will include allowances for normal electrical load and for normal engine air bleed and power extraction associated with maximum cabin differential pressure as defined in Section 21-30.31 of the Specification. Cabin air conditioning management during performance demonstration as described in Clause 5.3 may be such as to optimize the Aircraft performance while meeting the minimum air conditioning requirements defined above. Unless otherwise stated no air will be bled from the engines for anti-icing. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.4. | The engines will be operated using not more than the engine manufacturer's maximum recommended outputs for take-off, maximum go-round, maximum continuous, maximum climb and cruise for normal operation unless otherwise stated. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.5. | Where applicable the Guarantees assume the use of an approved fuel having a density of *** and a lower heating value of *** |
|------|-----------------------------------------------------------------------------------------------------------------------------|

| 5. | GUARANTEE COMPLIANCE |
|----|----------------------|

| 5.1. | Compliance with the Guarantees shall be demonstrated using operating procedures and limitations in accordance with those defined by the certifying Airworthiness Authority and by the Seller unless otherwise stated. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2. | Compliance with the take-off, second segment, en-route one engine inoperative and landing elements of the Guarantees will be demonstrated with reference to the approved Flight Manual. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5             | Page 2/3                   |
|------------------|-----------------|----------------------------|
| CT1004628        | APPENDIX 3 - RR | Private & Confidential |

----

| 5.3. | Compliance with those parts of the guarantees defined in Clause 2 not covered by the requirements of the certifying Airworthiness Authority shall be demonstrated by calculation based on data obtained during flight tests conducted on one (or more, at the Seller's discretion) A330-300 aircraft of the same aerodynamic configuration as those Aircraft purchased by the Buyer and incorporated in the In-Flight Performance Program and data bases appropriate to the Aircraft.. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.4. | Compliance with the Manufacturer's Weight Empty guarantee defined in Clause 3 shall be demonstrated with reference to a weight compliance report. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.5. | Data derived from tests will be adjusted as required using conventional methods of correction, interpolation or extrapolation in accordance with established aeronautical practices to show compliance with the Guarantees. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.6. | Compliance with the Guarantees is not contingent on engine performance defined in the engine manufacturer's specification. |
|------|----------------------------------------------------------------------------------------------------------------------------|

| 5.7. | The Seller undertakes to furnish the Buyer with a report or reports demonstrating compliance with the Guarantees at, or as soon as possible after, the delivery of each of the Buyer's A330-300 Aircraft |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | ADJUSTMENT OF GUARANTEES |
|----|--------------------------|

| 6.1. | If any change to any law, governmental regulation or requirement or interpretation thereof by any governmental agency (a “Rule Change” is made subsequent to the date of the Purchase Agreement and such Rule Change affects the Aircraft configuration and/or performance required to obtain certification, then the Guarantees shall be appropriately modified to reflect the effect of any such Rule Change. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2. | The Guarantees apply to the Aircraft as described in Clause 1 and may be adjusted in the event of : |
|------|-----------------------------------------------------------------------------------------------------|

|   | (i)  | any further configuration change which is the subject of a SCN |
|--------|-----------|----------------------------------------------------------------|

|   | (ii)  | any variation in actual weights of items defined in Section 13-10 of the Specification |
|--------|------------|----------------------------------------------------------------------------------------|

| 7. | EXCLUSIVE GUARANTEES |
|----|----------------------|

| 8. | *** |
|----|-----|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA5             | Page 3/3                   |
|------------------|-----------------|----------------------------|
| CT1004628        | APPENDIX 3 - RR | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA6    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| 1. | Clause 5 of the AGTA |
|----|----------------------|

| 2. | Clause 7 of the AGTA |
|----|----------------------|

| 3. | Clause 18 of the AGTA |
|----|-----------------------|

| 4. | Assignment |
|----|------------|

| 5. | Confidentiality |
|----|-----------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA6    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted                   |   | Agreed and Accepted              |
|---------------------------------------|--------|----------------------------------|
|                                  |   |                             |
| For and on behalf of:                 |   | For and on behalf of:            |
|                                  |   |                             |
| CHINA SOUTHERN AIRLINES               |   | AIRBUS S.A.S.                    |
| COMPANY LIMITED                       |   |                             |
|                                  |   |                             |
| Name: ______________________          |   | Name: ________________________   |
|                                  |   |                             |
| Title: _______________________        |   | Title: _________________________ |
|                                  |   |                             |
| Signature: ___________________        |   | Signature: _____________________ |
|                                  |   |                             |
| Witnessed and acknowledged,           |   |                             |
|                                  |   |                             |
| For and on behalf of                  |   |                             |
|                                  |   |                             |
| CHINA SOUTHERN AIRLINES GROUP         |   |                             |
| IMPORT AND EXPORT TRADING CORP., LTD. |   |                             |
|                                  |   |                             |
| Name: ______________________          |   |                             |
|                                  |   |                             |
| Title: ______________________         |   |                             |
|                                  |   |                             |
| Signature: __________________         |   |                             |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA6    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA7    | Page 1/4                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| 1 | Clause 14 of the AGTA |
|---|-----------------------|

| 1.1 | With respect only to the Aircraft purchased under the Purchase Agreement, Clause 14.4.3.1 of the AGTA shall be deleted in its entirety and replaced by the following quoted text: |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.2 | With respect only to the Aircraft purchased under the Purchase Agreement, Clause 14.6 of the AGTA shall be deleted in its entirety and replaced by the following quoted text: |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.3 | With respect only to the Aircraft purchased under the Purchase Agreement, the following quoted text shall be added at the end of Clause 14.9.3 of the AGTA: |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2 | Exhibit H of the AGTA |
|---|-----------------------|

| 2.1 | With respect only to the Aircraft purchased under the Purchase Agreement, the following clauses shall be added to Exhibit H of the AGTA: |
|-----|------------------------------------------------------------------------------------------------------------------------------------------|

| 2.2 | With respect only to the Aircraft purchased under the Purchase Agreement, the following clause 4.2.2 shall be added to Exhibit H of the AGTA: |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

| 3 | Training Allowance |
|---|--------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA7    | Page 2/4                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| 4. | Assignment |
|----|------------|

| 5. | Confidentiality |
|----|-----------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA7    | Page 3/4                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted         |   | Agreed and Accepted    |
|-----------------------------|--------|-----------------------------|
|                        |   |                        |
| For and on behalf of:  |   | For and on behalf of:  |
|                        |   |                        |
| CHINA SOUTHERN AIRLINES     |   | AIRBUS S.A.S.               |
| COMPANY LIMITED             |   |                        |
|                        |   |                        |   |
| Name:                       |   |                        | Name: |   |   |
|                        |   |                        |   |
| Title:                      |   |                        | Title: |   |   |
|                        |   |                        |   |
| Signature:                  |   |                   | Signature: |   |   |

| CHINA SOUTHERN AIRLINES GROUP         |
|---------------------------------------|
| IMPORT AND EXPORT TRADING CORP., LTD. |
|                                  |
| Name:                                 |   |   |
|                                  |   |
| Title:                                |   |   |
|                                  |   |
| Signature:                            |   |   |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA7    | Page 4/4                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA8    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004826        |   | Private & Confidential |

----

| 2. | Assignment |
|----|------------|

| 3. | Confidentiality |
|----|-----------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA8    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004826        |   | Private & Confidential |

----

| Agreed and Accepted         |   | Agreed and Accepted    |
|-----------------------------|--------|-----------------------------|
|                        |   |                        |
| For and on behalf of:  |   | For and on behalf of:  |
|                        |   |                        |
| CHINA SOUTHERN AIRLINES     |   | AIRBUS S.A.S.               |
| COMPANY LIMITED             |   |                        |
|                        |   |                        |   |
| Name:                       |   |                        | Name: |   |   |
|                        |   |                        |   |
| Title:                      |   |                        | Title: |   |   |
|                        |   |                        |   |
| Signature:                  |   |                   | Signature: |   |   |

| CHINA SOUTHERN AIRLINES GROUP         |
|---------------------------------------|
| IMPORT AND EXPORT TRADING CORP., LTD. |
|                                  |
| Name:                                 |   |   |
|                                  |   |
| Title:                                |   |   |
|                                  |   |
| Signature:                            |   |   |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | LA8    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004826        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL1    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

|   | *** |
|--------|-----|

| 2. | Assignment |
|----|------------|

|   | Notwithstanding any other provision of this Side Letter, the AGTA or the Purchase Agreement, this Side Letter and the rights and obligations of the Buyer herein shall not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this Clause shall be void and of no force or effect. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Confidentiality |
|----|-----------------|

|   |  This Side Letter (and its existence) shall be treated by the Parties as confidential and shall not be released (or revealed) in whole or in part to any third party without the prior consent of the other Parties. In particular, each Party agrees not to make any press release concerning the whole or any part of the contents and/or subject matter hereof or of any future addendum hereto without the prior consent of the other Parties. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL1    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted         |   | Agreed and Accepted    |
|-----------------------------|--------|-----------------------------|
|                        |   |                        |
| For and on behalf of:  |   | For and on behalf of:  |
|                        |   |                        |
| CHINA SOUTHERN AIRLINES     |   | AIRBUS S.A.S.               |
| COMPANY LIMITED             |   |                        |
|                        |   |                        |   |
| Name:                       |   |                        | Name: |   |   |
|                        |   |                        |   |
| Title:                      |   |                        | Title: |   |   |
|                        |   |                        |   |
| Signature:                  |   |                   | Signature: |   |   |

| CHINA SOUTHERN AIRLINES GROUP         |
|---------------------------------------|
| IMPORT AND EXPORT TRADING CORP., LTD. |
|                                  |
| Name:                                 |   |   |
|                                  |   |
| Title:                                |   |   |
|                                  |   |
| Signature:                            |   |   |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL1    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL2    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

|   | *** |
|--------|-----|

| 2. | Assignment |
|----|------------|

|   | Notwithstanding any other provision of this Side Letter, the AGTA or the Purchase Agreement, this Side Letter and the rights and obligations of the Buyer herein shall not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this Clause shall be void and of no force or effect. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Confidentiality |
|----|-----------------|

|   | This Side Letter (and its existence) shall be treated by the Parties as confidential and shall not be released (or revealed) in whole or in part to any third party without the prior consent of the other Parties. In particular, each Party agrees not to make any press release concerning the whole or any part of the contents and/or subject matter hereof or of any future addendum hereto without the prior consent of the other Parties. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL2    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted         |   | Agreed and Accepted    |
|-----------------------------|--------|-----------------------------|
|                        |   |                        |
| For and on behalf of:  |   | For and on behalf of:  |
|                        |   |                        |
| CHINA SOUTHERN AIRLINES     |   | AIRBUS S.A.S.               |
| COMPANY LIMITED             |   |                        |
|                        |   |                        |   |
| Name:                       |   |                        | Name: |   |   |
|                        |   |                        |   |
| Title:                      |   |                        | Title: |   |   |
|                        |   |                        |   |
| Signature:                  |   |                   | Signature: |   |   |

| CHINA SOUTHERN AIRLINES GROUP         |
|---------------------------------------|
| IMPORT AND EXPORT TRADING CORP., LTD. |
|                                  |
| Name:                                 |   |   |
|                                  |   |
| Title:                                |   |   |
|                                  |   |
| Signature:                            |   |   |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL2    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| (i) | a purchase agreement dated as of even date herewith pursuant to which, amongst other things, AIRBUS has agreed to manufacture and sell and CSN has agreed to purchase and take delivery of (10) A320 aircraft and twenty (20) A321 aircraft (together the “A320 Family Aircraft”) (the “A320 Family Purchase Agreement”); and |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii) | a purchase agreement dated as of even date herewith pursuant to which, amongst other things, AIRBUS has agreed to manufacture and sell and CSN has agreed to purchase and take delivery of six (6) A330 aircraft (the “A330 Aircraft”) (the “A330 Purchase Agreement”). |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Agreed and Accepted                     |   | Agreed and Accepted For and on behalf of |
|-----------------------------------------|--------|------------------------------------------|
|                                    |   | For and on behalf of                     |
|                                    |   |                                     |
| CHINA SOUTHERN AIRLINES COMPANY LIMITED |   | AIRBUS S.A.S.                            |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL3    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Name:      |   |         | Name:      |   |
|------------|--------|--------------|------------|--------|
|       |   |         |
| Title:     |   |         | Title:     |   |
|       |   |         |
| Signature: |   |    | Signature: |   |

| Name:      |   |   |
|------------|--------|--------|
|       |   |
| Title:     |   |   |
|       |   |
| Signature: |   |   |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL3    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL4    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

|   | *** |
|--------|-----|

| 2. | Assignment |
|----|------------|

|   | Notwithstanding any other provision of this Side Letter, the AGTA or the Purchase Agreement, this Side Letter and the rights and obligations of the Buyer herein shall not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this Clause shall be void and of no force or effect. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Confidentiality |
|----|-----------------|

|   | This Side Letter (and its existence) shall be treated by the Parties as confidential and shall not be released (or revealed) in whole or in part to any third party without the prior consent of the other Parties. In particular, each Party agrees not to make any press release concerning the whole or any part of the contents and/or subject matter hereof or of any future addendum hereto without the prior consent of the other Parties. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL4    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted         |   | Agreed and Accepted    |
|-----------------------------|--------|-----------------------------|
|                        |   |                        |
| For and on behalf of:  |   | For and on behalf of:  |
|                        |   |                        |
| CHINA SOUTHERN AIRLINES     |   | AIRBUS S.A.S.               |
| COMPANY LIMITED             |   |                        |
|                        |   |                        |   |
| Name:                       |   |                        | Name: |   |   |
|                        |   |                        |   |
| Title:                      |   |                        | Title: |   |   |
|                        |   |                        |   |
| Signature:                  |   |                   | Signature: |   |   |

| CHINA SOUTHERN AIRLINES GROUP         |
|---------------------------------------|
| IMPORT AND EXPORT TRADING CORP., LTD. |
|                                  |
| Name:                                 |   |   |
|                                  |   |
| Title:                                |   |   |
|                                  |   |
| Signature:                            |   |   |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL4    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL5    | Page 1/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

|   | *** |
|--------|-----|

| 2. | Assignment |
|----|------------|

|   | Notwithstanding any other provision of this Side Letter, the AGTA or the Purchase Agreement, this Side Letter and the rights and obligations of the Buyer herein shall not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this Clause shall be void and of no force or effect. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Confidentiality |
|----|-----------------|

|   | This Side Letter (and its existence) shall be treated by the Parties as confidential and shall not be released (or revealed) in whole or in part to any third party without the prior consent of the other Parties. In particular, each Party agrees not to make any press release concerning the whole or any part of the contents and/or subject matter hereof or of any future addendum hereto without the prior consent of the other Parties. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL5    | Page 2/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----

| Agreed and Accepted                   |               | Agreed and Accepted   |
|---------------------------------------|--------------------|-----------------------|
|                                  |               |                  |
| For and on behalf of:                 |               | For and on behalf of: |
|                                  |               |                  |
| CHINA SOUTHERN AIRLINES               |               | AIRBUS S.A.S.         |
| COMPANY LIMITED                       |               |                  |
|                                  |               |                  |
| Name:                                 |     |                  | Name: |     |
|                                  |               |                  |   |   |
| Title:                                |     |                  | Title: |     |
|                                  |               |                  |   |   |
| Signature:                            |     |                  | Signature: |     |
|                                  |               |                  |   |
| Witnessed and acknowledged,           |               |                  |
|                                  |               |                  |
| For and on behalf of                  |               |                  |
|                                  |               |                  |
| CHINA SOUTHERN AIRLINES GROUP         |               |                  |
| IMPORT AND EXPORT TRADING CORP., LTD. |               |                  |
|                                  |               |                  |   |
| Name:                                 |     |                  |   |
|                                  |               |                  |   |
| Title:                                |     |                  |   |
|                                  |               |                  |   |
| Signature:                            |     |                  |   |

| *** | This information is subject to confidential treatment and has been omitted and filed separately with the Commission. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| PA A330 CSN 2010 | SL5    | Page 3/3                   |
|------------------|--------|----------------------------|
| CT1004628        |   | Private & Confidential |

----