Exhibit 10.21

EXECUTIVE BONUS PLANFY06

So long as the Company achieves a minimum profit margin for FY06, as more fully described below, qualifying executives of the Company will be awarded a bonus in
accordance with the following computations:

Base Bonus

The Base Bonus will be equal to the executive's base salary earned during the fiscal year times a Base Bonus Percentage assigned by the Board to his or her
position. For FY06, the Base Bonus Percentage for each executive position is as set forth below:

Title

Bonus PercentagePresident & CEO

75
%Senior Vice President & Chief Operating Officer

65
%Senior Vice President & Chief Financial Officer

65
%Senior Vice PresidentIn-Flight and Administrative Services

55
%Vice President

45
%Senior Directors

30
%Directors

20
%


Profit Adjustment

The Base Bonus will then be adjusted based on the pre-tax profit margin achieved by the Company for the fiscal year as follows:

PAB= BB×APM/TPM, where

|PAB |  | = |  | The executive's Profit Adjusted Bonus                                                                                                                                       
|--- |  | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|BB  |  | = |  | The executive's Base Bonus                                                                                                                                                  
|APM |  | = |  | The Company's pre-tax profit margin, expressed as a percentage, adjusted for unusual items as approved by the Board, as subject to the Maximum Profit Margin described below
|TPM |  | = |  | The Target Pre-Tax Profit Margin as established by the Board for the fiscal year                                                                                            

provided,
no executive will be paid a bonus unless the Company'sAPMis at least equal to or greater than a Minimum Profit Margin
(mPM), and the APM cannot exceed a Maximum Profit Margin (MPM), each as established by the Board for the
fiscal year.

For
the Company's FY06, theTPMis 8%, themPMis 2% and the MPMis 12%.

Competitive Performance Adjustment

The Profit Adjusted Bonus for each executive will be further adjusted based on the Company's financial performance in certain categories compared to a peer group
of competitors, each as determined by the Board in advance of the fiscal year, and calculated as follows:

CAB=PAB× (PR/50%),
where

|CAB |  | = |  | Competitive Adjusted Bonus                                                                                                   
|--- |  | - |  | -----------------------------------------------------------------------------------------------------------------------------
|PAB |  | = |  | Profit Adjusted Bonus                                                                                                        
|PR  |  | = |  | The Company's percentile ranking against the Peer Group in the performance category selected by the Board for the fiscal year

provided,
thePABwill not be adjusted below a minimum performance adjustment factor (mPF) or above a
maximum performance adjustment factor (MPF) as established by the Board in advance of the fiscal year.

For
FY06, thePeer Groupis all major and low-cost airlines not operating under bankruptcy protection at any time during the
measurement period; the performance category is Pre-Tax Profit Margin as calculated under GAAP for the 12 month period equal to the Company's fiscal year, excluding extraordinary
items;mPFis .5 if thePRis equal to or less than 25%; and MPFis 1.5 if thePRis equal to or greater than 75%.

Discretionary Adjustment

The CAB for any executive officer may be further increased or decreased by the Board in its sole discretion by anywhere from 0% to 20% based on individual
performance.

Notwithstanding
any provision of this Bonus Plan, the decision to grant a bonus to any employee of the Company and the terms and conditions of such bonus will rest with the Board in its
sole discretion.



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