Document:

exv10w1

Exhibit 10.1

AMENDMENT N° 9

TO THE

AIRCRAFT PURCHASE AGREEMENT

Dated as of June 20, 2007

BETWEEN

AIRBUS S. A. S.

as Seller

AND

AYR FREIGHTER LLC

as Buyer

	 	 	 	 
	Reference: CT0901150

AYR Freighter LLC — Amendment No. 9	 	Page 1	 

 

AMENDMENT N° 9 TO THE

AIRCRAFT PURCHASE AGREEMENT

This Amendment No9 (“Amendment N°9”) dated June 2, 2010 is made between

AIRBUS S.A.S., a société par actions simplifiée, created and existing under French law having its
registered office at 1 rond-point Maurice Bellonte, 31707 Blagnac-Cedex, France and registered with
the Toulouse Registre du Commerce under number RCS Toulouse 383 474 814 (the “Seller”),

and

AYR FREIGHTER LLC, a limited liability company organized and existing under the laws of the State
of Delaware (hereinafter referred to as the “Buyer”),

WHEREAS:

	A)	 	the Buyer and the Seller have entered into a purchase agreement dated June 20th, 2007 which
covers the manufacture and the sale by the Seller and the purchase by the Buyer of fifteen
(15) A330-200 Freighter aircraft (the “Freighter Aircraft”) (the “Purchase Agreement”),

	B)	 	the parties amended the Purchase Agreement to incorporate the new Pratt and Whitney 4170
Propulsion Systems as set out in the amendment to the Purchase Agreement dated as of November
6th 2007 (“Amendment No 1”).

	C)	 	the parties amended the Purchase Agreement to (i) convert five (5) Freighter Aircraft into
A330-200 Airbus aircraft type (the “A330-200 Aircraft”), (ii) to modify certain Scheduled
Delivery Months of the Freighter Aircraft, and (iii) to cancel three (3) Freighter Aircraft
as set as set out in the amendment to the Purchase Agreement dated July 31st 2008 (“Amendment
No 2”).

	D)	 	the parties amended the Purchase Agreement to modify the Scheduled Delivery Month for certain
Aircraft as set out in amendment to the Purchase Agreement dated September 30th 2008
(“Amendment No 3”).

	E)	 	the parties amended the Purchase Agreement to, amongst other things, modify the Scheduled
Delivery Month for certain Aircraft, as set out in the amendment to the Purchase Agreement
dated February 24th 2009 (“Amendment No 4”).

	 	 	 	 
	Reference: CT0901150

AYR Freighter LLC — Amendment No. 9	 	Page 2	 

 

	F)	 	the parties amended the Purchase Agreement to provide for the terms under which the Buyer
engaged in a purchase and lease back transaction, as set out in the amendment to the
Purchase Agreement dated April 17th 2009 (“Amendment No5”).

	G)	 	the parties amended the Purchase Agreement to modify the Scheduled Delivery Month for
Aircraft with rank 4 and to modify the Conversion Notice deadline for certain Aircraft, as set
out in the amendment to the Purchase Agreement dated July 28th 2009 (“Amendment
No6”).

	H)	 	the parties amended the Purchase Agreement to provide for the terms under with the Buyer
shall engage in a purchase and lease back transaction involving an aircraft which is the
subject of a purchase agreement between the Seller and another customer, as set out in the
amendment to the Purchase Agreement dated October 2, 2009 (“ Amendment No7”).

	I)	 	the Buyer exercised its right under the Agreement to convert the A330-200 Freighter Aircraft
with ranks 9, 10, 11 and 12 to A330-200 Aircraft by written notice received by the Seller on
October 27, 2009.

	J)	 	the parties amended the Purchase Agreement to modify the Scheduled Delivery Month
for certain Aircraft and provide for the terms and conditions to support the Buyer in the
placement of certain Aircraft, as set out in the amendment to the Purchase Agreement dated
December 26th, 2009 (“Amendment No 8”).

	K)	 	the parties have agreed to modify the Scheduled Delivery Month for certain Aircraft under
the terms and conditions set forth hereunder.

The Purchase Agreement together with the Amendment N°1, Amendment N°2, Amendment N°3, Amendment
N°4, Amendment No 5, Amendment No6, Amendment No7 and Amendment No8 shall be referred to as the
“Agreement”.

In this Amendment N°9, capitalised terms (other than as defined herein) used shall have the meaning
ascribed to them in the Agreement.

THEREFORE, IT IS AGREED:

	 	 	 	 
	Reference: CT0901150

AYR Freighter LLC — Amendment No. 9	 	Page 3	 

 

1. Schedule 1 to the Agreement Delivery Schedule

	1.1	 	At request of the Buyer  ́s lessee, the parties hereby agree that the Aircraft with rank 5 (CAC
ID 264222) scheduled for Delivery in April 2011 is hereby rescheduled for Delivery in March
2011.

	1.2	 	The parties agree that, in order to reflect the amendments described in Clause 1.1 herein,
Clause 3 of Schedule 1 of the Agreement shall be deleted in its entirety and replaced by the
following:

	 	 	QUOTE

	 	 	 	Clause 3. Delivery Schedule

	 	 	 	 	 	 	 	 	 
	Aircraft	 	 	 	 	 	 	 	Scheduled Delivery
	CAC ID	 	Rank	 	Aircraft type	 	Month
	264217

	 	 	1	 	 	A330-200 Freighter Aircraft
	 	August 2010
	 
	 	 	 	 	 	 	 	 
	264219

	 	 	3	 	 	A330-200 Freighter Aircraft
	 	October 2010
	 
	 	 	 	 	 	 	 	 
	264218

	 	 	2	 	 	A330-200 Aircraft
	 	February 2011
	 
	 	 	 	 	 	 	 	 
	264220

	 	 	4	 	 	A330-200 Freighter Aircraft
	 	July 2011
	 
	 	 	 	 	 	 	 	 
	264222

	 	 	5	 	 	A330-200 Aircraft
	 	March 2011
	 
	 	 	 	 	 	 	 	 
	264223

	 	 	6	 	 	A330-200 Aircraft
	 	May 2011
	 
	 	 	 	 	 	 	 	 
	264224

	 	 	7	 	 	A330-200 Aircraft
	 	July 2011
	 
	 	 	 	 	 	 	 	 
	264227

	 	 	9	 	 	A330-200 Aircraft
	 	September 2011
	 
	 	 	 	 	 	 	 	 
	264228

	 	 	10	 	 	A330-200 Aircraft
	 	December 2011
	 
	 	 	 	 	 	 	 	 
	264230

	 	 	11	 	 	A330-200 Aircraft
	 	April 2012

	 	 	UNQUOTE

	 	 	 	 
	Reference: CT0901150

AYR Freighter LLC — Amendment No. 9	 	Page 4	 

 

2. Predelivery Payments

	2.1	 	The Buyer will make Predelivery Payments with respect to each Aircraft the Delivery of which
is rescheduled pursuant to Clause 1.1 hereof (each, a “Rescheduled Aircraft”) pursuant to
Clause 5 of the Agreement based on the revised Scheduled Delivery Months of such Rescheduled
Aircraft, except as provided for in Paragraph 2.2 below.

	2.2	 	Any Predelivery Payments with respect to each Aircraft falling due prior to the date hereof
by virtue of the rescheduling contemplated herein, but not paid by the Buyer prior to the date
hereof, shall be paid within 5 Business Days after signature hereof.

3. SCN List for the SAA Aircraft

	3.1	 	The SAA Aircraft, as defined in Amendment No 8 to the Agreement, will be delivered with SCN
list in Appendix 1 to this Amd. With respect to the SAA Aircraft, such Appendix 1 shall
delete and supersede any previous SCN list agreed by the Parties.

	3.2	 	With respect to the SAA Aircraft only, Clause 3.1.3 as set out in Schedule 1 to the Agreement
and as amended by Amendment No 2 to the Agreement , is hereby deleted and replaced with the
following:

QUOTE

	3.1.3	 	Base Price of the Airframe for the SAA Aircraft:
	 
	 	 	The Base Price of the SAA Aircraft Airframe is the sum of the Base Prices set forth
below in (i) and (ii):

	 	(i)	 	the Base Price of the Airframe of the SAA Aircraft, as defined in the
Standard Specification (excluding Buyer Furnished Equipment, Propulsion Systems and
SCNs), at delivery conditions prevailing in January 2006,
	 
	 	 	 	US$ [***]

(US dollars — [***])
	 
	 	(ii)	 	the Base Prices of all SCNs at delivery conditions prevailing in January 2006,
	 
	 	 	 	US $[***]

(US dollars — [***])

UNQUOTE

Portions of this exhibit that have been marked by [***] have been omitted pursuant to a
request for confidential treatment and filed separately with the Securities and Exchange
Commission.

	 	 	 	 
	Reference: CT0901150

AYR Freighter LLC — Amendment No. 9	 	Page 5	 

 

4. Miscellaneous

	4.1	 	This Amendment N°9, contains the entire agreement between the parties in relation to the
subject matter hereof and supersedes any previous understandings, commitments and/or
representations whatsoever oral or written to the extent it relates to the subject matter
hereof.

	4.2	 	In the event of any inconsistencies between the terms of the Agreement, including its
Exhibits and Letter Agreements and this Amendment N°9, this Amendment N°9 shall prevail to the
extent of such inconsistency.

	4.3	 	The Agreement including its Exhibits and Letter Agreements shall be deemed amended and
supplemented to the extent herein provided and as so amended and supplemented shall remain in
full force and effect.

	4.4	 	This Amendment N° 9 shall not be modified or varied except by an instrument in writing
executed by both parties or by their duly authorised representatives.

	4.5	 	Clauses 22.2 (Notices), 22.3 (Waiver), 22.6 (Interpretation and Law) 22.4 (International
Supply Contract), 22.13 (Language), 22.15 (Counterparts) and 22.9 (Confidentiality) of the
Agreement shall apply to this Amendment N°9 mutatis mutandis as if set out in full herein.

	4.6	 	The parties hereby agree that this Amendment N°9 shall enter into full force and effect from
the date mentioned here above.

	 	 	 	 
	Reference: CT0901150

AYR Freighter LLC — Amendment No. 9	 	Page 6	 

 

If the foregoing correctly sets forth our understanding, please execute two (2) originals in the
space provided below and return one (1) original of this Amendment No9 to the Seller.

	 	 	 	 	 	 	 

	Agreed and Accepted	 	Agreed and Accepted
	 
	For and on behalf of	 	For and on behalf of
	 
	 	 	 	 	 	 
	AYR FREIGHTER LLC	 	AIRBUS S.A.S.
	 
	 	 	 	 	 	 
	BY:

	 	Ron Wainshal
	 	BY:
	 	Christophe Mourey
	ITS:

	 	Manager
	 	ITS:
	 	Senior Vice President Contracts
	DATE:

	 	May 31, 2010
	 	DATE:
	 	May 31, 2010

	 	 	 	 
	Reference: CT0901150

AYR Freighter LLC — Amendment No. 9	 	Page 7	 

 

APPENDIX 1

A330-200 AIRCRAFT

SPECIFICATION CHANGE NOTICES

[***]

Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for
confidential treatment and filed separately with the Securities and Exchange Commission.

	 	 	 	 
	Reference: CT0901150

AYR Freighter LLC — Amendment No. 9	 	Page 8exv10w2

Exhibit 10.2

AMENDMENT NO. 1, dated as of May 31, 2010 (this “Amendment”), to that certain Lease Agreement (CAC
[                    ]), dated as of December 16, 2009 (the “Lease Agreement”), between WELLS FARGO BANK
NORTHWEST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee, as
Lessor (“Lessor”), and SOUTH AFRICAN AIRWAYS (PTY) LTD. (“Lessee”).

RECITALS:

Lessor and Lessee desire update Schedule 3 to the Lease Agreement to reflect the agreements of
Lessor and Lessee with respect to the specification of the Aircraft.

Lessor and Lessee desire to accelerate the delivery of the Aircraft by one month.

Capitalized terms used but not defined herein shall have the respective meanings ascribed thereto
in the Lease Agreement.

AGREEMENT:

In consideration of the foregoing premises, and for other good and valuable consideration the
adequacy and receipt of which are hereby acknowledged, Lessor and Lessee agree as follows:

	1.	 	SCHEDULE 3—DELIVERY CONDITIONS

	 	 	Sections 1.1 and 1.2 to Part I of Schedule 3 to the Lease Agreement are hereby amended and
restated in the form of Attachment 1 hereto. A new Annex 3 to Schedule 3 is hereby added in
the form of Attachment 2 hereto.

	2.	 	SCHEDULED DELIVERY DATE (1)

	 	 	Subject to the written agreement of Airframe Manufacturer on or before May 31, 2010, the
definitions of “Scheduled Delivery Date” in Part I of Schedule 1 is hereby amended and
restated as follows:

	 	 	 	“Scheduled Delivery Date” means the date the Aircraft is delivered by the Airframe
Manufacturer, such date currently scheduled for a date in March 2011.

	3.	 	OPERATIVE DOCUMENT; REMAINS IN EFFECT
	 
	 	 	This Amendment is an Operative Document for all purposes of the Lease Agreement. Except as
amended hereby the Lease Agreement remains in full force and effect.

[Intentionally Left Blank]

 

			
	(1)	 	Section 2 applicable to the lease covering
aircraft CAC264222.

-1-

 

Lessee and Lessor have caused this Amendment to be executed by their respective officers on the day
and year first above written.

	 	 	 	 	 
	WELLS FARGO BANK NORTHWEST, NATIONAL ASSOCIATION,

as Owner Trustee

 	 	 
	By:  	/s/ Ron Wainshal
 	 	 
	 	Name:  	Ron Wainshal 	 	 
	 	Title:  	Attorney in Fact 	 	 
	 

	 	 	 	 	 
	SOUTH AFRICAN AIRWAYS (PTY) LTD.

 	 	 
	By:  	/s/ Sizakele Mzimela
 	 	 
	 	Name:  	Sizakele Mzimela 	 	 
	 	Title:  	Chief Executive Officer 	 	 
	 
	By:  	                    /s/ Kaushik Patel
 	 	 
	 	Name:  	Kaushik Patel 	 	 
	 	Title:  	Chief Financial Officer 	 	 
	 

-2-

 

Attachment 1

	1.1	 	SCNs
	 
	 	 	With the following SCN selections and any MSCNs applicable to the Aircraft:
	 
	 	 	[***]
	 
	1.2	 	BFE
	 
	 	 	With the following BFE selections:
	 
	 	 	[***]

Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for
confidential treatment and filed separately with the Securities and Exchange Commission.

-3-

 

Attachment 2

ANNEX 3 TO

SCHEDULE 3

SCN AND BFE SUPPORTING ATTACHMENT

[***]

Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for
confidential treatment and filed separately with the Securities and Exchange Commission.

-4-

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