Document:

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                                                                    EXHIBIT 10.3

                               eFUNDS CORPORATION
                        2001 EMPLOYEE STOCK PURCHASE PLAN
                           (AS AMENDED APRIL 19, 2001)

                             ARTICLE I. INTRODUCTION

Section 1.01 Purpose. The purpose of the eFunds Corporation 2001 Employee Stock
Purchase Plan (the "Plan") is to provide employees of eFunds Corporation, a
Delaware corporation (the "Company"), and certain related corporations with an
opportunity to share in the ownership of the Company by providing them with a
convenient means for regular and systematic purchases of the Company's Common
Stock, par value $.01 per share, and, thus, to develop a stronger incentive to
work for the continued success of the Company.

Section 1.02 Rules of Interpretation. It is intended that the Plan be an
"employee stock purchase plan" as defined in Section 423(b) of the Internal
Revenue Code of 1986, as amended (the "Code"), and Treasury Regulations
promulgated thereunder. Accordingly, the Plan shall be interpreted and
administered in a manner consistent therewith if so approved. All Participants
in the Plan will have the same rights and privileges consistent with the
provisions of the Plan.

Section 1.03 Definitions. For purposes of the Plan, the following terms will
have the meanings set forth below:

     "Acceleration Date" means the later of the date of stockholder approval (if
     such approval is a condition to the consummation of the proposed
     transaction) or approval by the Company's Board of Directors of (i) any
     consolidation or merger of the Company in which the Company is not the
     continuing or surviving corporation or pursuant to which shares of Company
     Common Stock would be converted into cash, securities or other property,
     other than a merger of the Company in which stockholders of the Company
     immediately prior to the merger have the same proportionate ownership of
     stock in the surviving corporation immediately after the merger; (ii) any
     sale, exchange or other transfer (in one transaction or a series of related
     transactions) of all or substantially all of the assets of the Company; or
     (iii) any plan of liquidation or dissolution of the Company.

     "Approved Retirement' shall mean any voluntary termination of employment
     with or services to the Company or any of its Subsidiaries which is on or
     after the later of the date on which (i) Participant's age is at least
     fifty-five (55) and (ii) Participant shall have completed at least five (5)
     years of continuous service with the Company and its Subsidiaries, or any
     other termination of service or employment that the Committee determines
     qualifies as an approved retirement. In determining the number of years of
     Participant's service years of employment with Deluxe Corporation, a
     Minnesota Corporation, or any of its Subsidiaries prior to December 29,
     2000 shall be included.

     "Board" means the board of directors of the Company.

     "Committee" means the committee described in Section 10.01.

     "Common Stock" means the Company's Common Stock, par value $.01 per share,
     as such stock may be adjusted for changes in the stock or the Company as
     contemplated by Article XI herein.

     "Company" means eFunds Corporation, a Delaware corporation, and its
     successors by merger or consolidation as contemplated by Article XI herein.

     "Current Compensation" means all regular wage, salary, bonus, and
     commission payments paid by the Company or by a Participating Subsidiary to
     a Participant in accordance with the terms of his or her employment.

     "Disability" shall mean the termination of Participant's employment with or
     services to the Company or any of its Subsidiaries due to Participant's
     permanent disability as defined by the provisions of the long-term
     disability plan of Participant's employer at the time of such disability.

     "Fair Market Value" as of a given date means such value of the Common Stock
     as reasonably determined by the Committee, but shall not be less than (i)
     the last sale price if the Common Stock is then quoted on the Nasdaq
     National Market System, (ii) the average of the closing representative bid
     and asked prices of the Common Stock as reported on the Nasdaq National
     Market System on the date as of which the fair market value is being
     determined, or (iii) the closing price of the Common Stock as reported for
     composite

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     transactions if the Common Stock is then traded on a national securities
     exchange. If on a given date the Common Stock is not traded on an
     established securities market, the Committee shall make a good faith
     attempt to satisfy the requirements of this Section 1.03 and in connection
     therewith shall take such action as it deems necessary or advisable.

     "Participant" means a Regular Full-Time Employee who is eligible to
     participate in the Plan under Section 2.01 and who has elected to
     participate in the Plan.

     "Participating Subsidiary" means a Subsidiary, which has been designated by
     the Board or Committee in advance of the Purchase Period in question as a
     corporation whose eligible Regular Full-Time Employees may participate in
     the Plan.

     "Plan" means the eFunds Corporation 2001 Employee Stock Purchase Plan, as
     may be amended from time to time, the provisions of which are set forth
     herein.

     "Purchase Period" means the approximate three-month period beginning on the
     first business day of each calendar quarter of each calendar year;
     provided, however, that the initial Purchase Period will commence on
     January 2, 2001 and will terminate on June 30, 2001. The Board of Directors
     of the Company shall have the power to change the duration of the Purchase
     Periods with respect to offerings without stockholder approval if such
     change is announced at least five days prior to the scheduled beginning of
     the first Purchase Period to be affected.

     "Regular Full-Time Employee" means an employee of the Company or a
     Participating Subsidiary as of the first day of a Purchase Period,
     including an officer or director who is also an employee, but excluding an
     employee whose customary employment is less than 20 hours per week and
     excluding an employee who is customarily employed for five months or less
     in a calendar year.

     "Stock Purchase Account" means the account maintained on the books and
     records of the Company recording the amount received from each Participant
     through payroll deductions made under the Plan.

     "Subsidiary" means any subsidiary corporation of the Company, as defined in
     Section 424(f) of the Code, whether now or hereafter acquired or
     established.

      ARTICLE II. ELIGIBILITY AND PARTICIPATION; INTERNATIONAL PARTICIPANTS

Section 2.01 Eligible Employees. All Regular Full-Time Employees shall be
eligible to participate in the Plan beginning on the first day of the first
Purchase Period to commence after such person becomes a Regular Full-Time
Employee. Subject to the provisions of Article VI, each such employee will
continue to be eligible to participate in the Plan so long as he or she remains
a Regular Full-Time Employee. To the extent that the Committee determines that
Treasury Regulation Section 1.401(K)-1(d)(2)(iv)(B)(4) applies to an eligible
Regular Full-Time Employee, such Regular Full-Time Employee will not be eligible
to participate in the Plan.

Section 2.02 Election to Participate. An eligible Regular Full-Time Employee may
elect to participate in the Plan for a given Purchase Period by submitting a
subscription agreement and any other required documents provided by the Company
(which authorize regular payroll deductions from Current Compensation beginning
with the first payday in that Purchase Period and continuing until the employee
withdraws from the Plan or ceases to be eligible to participate in the Plan)
with the Company's Human Resources Department, or a stock brokerage or other
financial services firm designated by the Company, no later than the fifteenth
day of the month in advance of that Purchase Period, and in accordance with such
terms and conditions as the Committee in its sole discretion may impose.
Notwithstanding the foregoing, the Committee may set a later time for submission
of the subscription agreement and any other required documents and may provide
that the subscription agreement and any other required documents may be
submitted electronically.

Section 2.03 Untimely Election to Participate. An eligible Regular Full-Time
Employee who does not submit a subscription agreement and any other required
documents provided by the Company (which authorize regular payroll deductions
from Current Compensation beginning with the first payday in that Purchase
Period and continuing until the employee withdraws from the Plan or ceases to be
eligible to participate in the Plan) with the Company's Human Resources
Department, or a stock brokerage or other financial services firm designated by
the Company, no later than the fifteenth day of the month in advance of that
Purchase Period, or such other date set by the Committee pursuant to Section
2.02, and in accordance with such terms and conditions as the Committee in its
sole discretion may impose, shall not participate until complying with the
requirements of Section 2.02.

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Section 2.04 Limits on Stock Purchase. No employee shall be granted any right to
purchase Common Stock hereunder if such employee, immediately after such a right
to purchase is granted, would own, directly or indirectly, within the meaning of
Section 423(b)(3) and Section 424(d) of the Code, Common Stock possessing 5% or
more of the total combined voting power or value of all the classes of the
capital stock of the Company or of all its Subsidiaries.

Section 2.05 Voluntary Participation. Participation in the Plan on the part of a
Participant is voluntary and such participation is not a condition of employment
nor does participation in the Plan entitle a Participant to be retained as an
employee.

Section 2.06 International Participants. The Committee shall have the power and
authority to allow employees of those Subsidiaries or other entities that are
not Participating Subsidiaries, who work or reside outside of the United States
on behalf of the Company an opportunity to acquire Common Stock pursuant to the
Plan in accordance with such special terms and conditions as the Committee may
designate with respect to each such Subsidiary. Without limiting the authority
of the Committee, the special terms and conditions which may be established with
respect to each such Subsidiary, and which need not be the same for all
Subsidiaries, include but are not limited to the right to participate,
procedures for elections to participate, the payment of any interest with
respect to amounts received from or credited to accounts held for the benefit of
Participants, the purchase price of any shares to be acquired, the length of any
purchase period, the maximum amount of contributions, credits or Stock which may
be acquired by any Participant, and a Participant's rights in the event of his
or her death, disability, withdrawal from the Plan, termination of employment on
behalf of the Company and all matters related thereto. This Section 2.06 is not
subject to Section 423 of the Code or any other provision of the Plan which
refers to or is based upon such Section. For tax purposes, this Section 2.06
shall be treated as separate and apart from the balance of the Plan.

                    ARTICLE III. PAYROLL DEDUCTIONS, COMPANY
                    CONTRIBUTIONS AND STOCK PURCHASE ACCOUNT

Section 3.01 Deduction from Pay. The forms described in Section 2.02 will permit
a Participant to elect payroll deductions of any multiple of 1% but not less
than 2% or more than 10% of such Participant's Current Compensation for each pay
period, subject to such other limitations as the Committee in its sole
discretion may impose. A Participant may cease making payroll deductions at any
time, subject to such limitations as the Committee in its sole discretion may
impose.

Section 3.02 Adjustments of Deduction in Pay. Participants may decrease or
increase the rate of payroll deductions in accordance with Section 3.01 by
submitting to the Company's Human Resources Department, or a stock brokerage or
other financial services firm designated by the Company, a new subscription
agreement and any other required documents no later than the fifteenth day of
the month in advance of that Purchase Period and in accordance with such terms
and conditions as the Committee in its sole discretion may impose.

Section 3.03 Credit to Account. Payroll deductions will be credited to the
Participant's Stock Purchase Account on each payday in accordance with Articles
IV and V hereof.

Section 3.04 Interest. No interest will be paid upon payroll deductions or any
amount credited to, or on deposit in, a Participant's Stock Purchase Account.

Section 3.06 Nature of Account. The Stock Purchase Account is established solely
for accounting purposes, and all amounts credited to the Stock Purchase Account
will remain part of the general assets of the Company or the Participating
Subsidiary (as the case may be). The Company may use amounts credited to the
Stock Purchase Account for any corporate purpose, and the Company shall not be
obligated to segregate such amounts credited to the Stock Purchase Account.

Section 3.07 No Additional Contributions. Unless otherwise determined by the
Committee, a Participant may not make any payment into the Stock Purchase
Account other than the payroll deductions made pursuant to the Plan.

                      ARTICLE IV. RIGHT TO PURCHASE SHARES

Section 4.01 Number of Shares. Each Participant will have the right to purchase
on the last business day of the Purchase Period all, but not less than all, of
the largest number of whole and fractional shares of Common Stock that can be
purchased at the price specified in Section 4.02 with the entire credit balance
in the Participant's Stock Purchase Account, subject to the limitations that (a)
no more than 1,000 shares of Common Stock may be purchased under the Plan by any
one Participant for a given Purchase Period (2,000 shares for the initial
six-month Purchase Period) and (b) in accordance with Section 423(b)(8) of the
Code, no more than $25,000 in Fair Market Value (determined at the beginning of
each Purchase Period) of Common Stock and other stock may be purchased under the
Plan and all other employee stock purchase plans (if any) of the Company and the
Subsidiaries by any one Participant for any calendar year. If the purchases for
all Participants would otherwise cause the aggregate number of shares of

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Common Stock to be sold under the Plan to exceed the number specified in Section
10.04, each Participant shall be allocated a pro rata portion of the Common
Stock to be sold.

Section 4.02 Purchase Price. The purchase price for any Purchase Period shall be
the lesser of (a) 85% of the Fair Market Value of the Common Stock on the first
business day of that Purchase Period or (b) 85% of the Fair Market Value of the
Common Stock on the last business day of that Purchase Period, in each case
rounded up to the next higher full cent.

                          ARTICLE V. EXERCISE OF RIGHT

Section 5.01 Purchase of Stock. On the last business day of a Purchase Period,
the entire credit balance in each Participant's Stock Purchase Account will be
used to purchase the largest number of whole and fractional shares of Common
Stock purchasable with such amount (subject to the limitations of Section 4.01),
unless the Participant has filed with the Company's Human Resources Department,
or a stock brokerage or other financial services firm designated by the Company,
in advance of the date set forth in Section 6.01 and subject to such terms and
conditions as the Committee in its sole discretion may impose, a form provided
by the Company which requests the distribution of the entire credit balance in
cash.

Section 5.02 Return of Excess Credit Balance. Any payroll deductions accumulated
in each Participant's Stock Purchase Account which are not used to purchase full
or fractional shares of Common Stock due to the limitations of Section 4.01
shall be returned to the Participant as soon as practicable, after the end of
the applicable Purchase Period, without interest.

Section 5.03 Notice of Acceleration Date. The Company shall use its best efforts
to notify each Participant in writing within at least ten days of any
Acceleration Date that the then current Purchase Period will end on such
Acceleration Date.

                 ARTICLE VI. WITHDRAWAL FROM PLAN; SALE OF STOCK

Section 6.01 Voluntary Withdrawal. A Participant may, in accordance with such
terms and conditions as the Committee in its sole discretion may impose,
withdraw from the Plan and cease making payroll deductions by filing with the
Company's Human Resources Department, or a stock brokerage or other financial
services firm designated by the Company, a form provided for this purpose at
least fifteen days prior to the end of the Purchase Period. In such event, the
entire credit balance in the Participant's Stock Purchase Account will be paid,
without interest, to the Participant in cash as soon as administratively
possible. A Participant who withdraws from the Plan will not be eligible to
reenter the Plan until such eligible Regular Full-Time Employee subsequently
files a timely election to re-enroll in the Plan pursuant to Section 2.02.

Section 6.02 Death. Subject to such terms and conditions as the Committee in its
sole discretion may impose, upon the death of a Participant, no further amounts
shall be credited to the Participant's Stock Purchase Account. Thereafter, on
the last business day of the Purchase Period during which such Participant's
death occurred and in accordance with Section 5.01, the entire credit balance in
such Participant's Stock Purchase Account will be used to purchase Common Stock,
unless such Participant's estate has filed with the Company's Human Resources
Department, or a stock brokerage or other financial services firm designated by
the Company, at least fifteen days prior to the end of the Purchase Period, a
form provided by the Company which elects to have the entire credit balance in
such Participant's Stock Account distributed in cash as soon as administratively
possible after the end of that Purchase Period or at such earlier time as the
Committee in its sole discretion may decide. Each Participant, however, may
designate one or more beneficiaries who, upon death, are to receive the Common
Stock or the amount that otherwise would have been distributed or paid to the
Participant's estate and may change or revoke any such designation from time to
time. No such designation, change or revocation will be effective unless made by
the Participant in writing and filed with the Company during the Participant's
lifetime. Unless the Participant has otherwise specified in the beneficiary
designation, the beneficiary or beneficiaries so designated will become fixed as
of the date of the death of the Participant so that, if a beneficiary survives
the Participant but dies before the receipt of the payment due such beneficiary,
the payment will be made to such beneficiary's estate.

Section 6.03 Termination of Employment. Subject to such terms and conditions as
the Committee in its sole discretion may impose, upon a Participant's normal or
early retirement with the consent of the Company under any pension or retirement
plan of the Company or Participating Subsidiary, no further amounts shall be
credited to the Participant's Stock Purchase Account. Thereafter, on the last
business day of the Purchase Period during which such Participant's approved
retirement occurred and in accordance with Section 5.01, the entire credit
balance in such Participant's Stock Purchase Account will be used to purchase
Common Stock, unless such Participant has filed with the Company's Human
Resources Department, or a stock brokerage or other financial services firm
designated by the Company, at least fifteen days prior to the end of the
Purchase Period, a form provided by the Company which elects to receive the
entire credit balance in such Participant's Stock Purchase Account in cash as
soon as administratively possible after the end of that Purchase Period,
provided that such Participant shall have no right to purchase Common Stock in
the

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event that the last day of such a Purchase Period occurs more than three
months following the termination of such Participant's employment with the
Company by reason of such an approved retirement. In the event of any other
termination of employment (other than death) with the Company or a Participating
Subsidiary, participation in the Plan will cease on the date the Participant
ceases to be a Regular Full-Time Employee for any reason. In such event, the
entire credit balance in such Participant's Stock Purchase Account will be paid
in cash to the Participant as soon as administratively possible. For purposes of
this Section 6.03, a transfer of employment to any Participating Subsidiary or a
leave of absence which has been approved by the Committee will not be deemed a
termination of employment as a Regular Full-Time Employee.

                         ARTICLE VII. NONTRANSFERABILITY

Section 7.01 Nontransferable Right to Purchase. The right to purchase Common
Stock hereunder may not be assigned, transferred, pledged or hypothecated
(whether by operation of law or otherwise), except as provided in Section 6.02,
and will not be subject to execution, attachment or similar process. Any
attempted assignment, transfer, pledge, hypothecation or other disposition or
levy of attachment or similar process upon the right to purchase will be null
and void and without effect.

Section 7.02 Nontransferable Account. Except as provided in Section 6.02, the
amounts credited to a Stock Purchase Account may not be assigned, transferred,
pledged or hypothecated in any way, and any attempted assignment, transfer,
pledge, hypothecation or other disposition of such amounts will be null and void
and without effect.

Section 7.03 Nontransferable Shares. Except as the Committee shall otherwise
permit, the Common Stock purchased by a Participant at the end of such Purchase
Period pursuant to Section 5.01 may not be sold, assigned, transferred, pledged
or hypothecated prior to the earlier to occur of (i) the death, disability or
Approved Retirement of the Participant, (ii) the Acceleration Date and (iii) the
first anniversary of the end of such Purchase Period in any way, and any
attempted sale, assignment, transfer, pledge, hypothecation or other disposition
of such share or shares during such period will be null and void and without
effect. Thereafter, a Stock certificate or other rights may be delivered in
accordance with Section 8.04 hereof.

                       ARTICLE VIII. COMMON STOCK ISSUANCE

Section 8.01 Issuance of Purchased Shares. Promptly after the last day of each
Purchase Period and subject to such terms and conditions as the Committee in its
sole discretion may impose, the Company will cause the Common Stock then
purchased pursuant to Section 5.01 of the Plan to be issued for the benefit of
the Participant and held in the Plan pursuant to Section 8.03 of the Plan.

Section 8.02 Completion of Issuance. A Participant shall have no interest in the
Common Stock purchased pursuant to Section 5.01 of the Plan until such Common
Stock is issued for the benefit of the Participant pursuant to Section 8.03 of
the Plan.

Section 8.03 Form of Ownership. The Common Stock issued under Section 8.01 of
the Plan will be held in the Plan in the name of the Participant or jointly in
the name of the Participant and another person, as the Participant may direct on
a form provided by the Company, until such time as certificates for such shares
of Common Stock are delivered to or for the benefit of the Participant pursuant
to Section 8.04 of the Plan.

Section 8.04 Delivery. At any time following the conclusion of the
nontransferability period set forth in Section 7.03 of the Plan and subject to
such terms and conditions as the Committee in its sole discretion may impose, by
filing with the Company a form provided by the Company for such purpose, a
Participant may elect to have the Company cause to be delivered to or for the
benefit of the Participant a certificate for the number of whole shares, and
cash for the number of fractional shares, representing the Common Stock
purchased pursuant to Section 5.01 of the Plan. The election notice will be
processed as soon as practicable after receipt.

Section 8.05 Securities Laws. The Company shall not be required to issue or
deliver any shares of Common Stock until the requirements of any federal or
state securities laws, rules or regulations or other laws or rules (including
the rules of the Nasdaq National Market System or any stock exchange upon which
the Common Stock may then be listed or admitted for trading), as may be
determined by the Company to be applicable, are satisfied.

                    ARTICLE IX. EFFECTIVE DATE, AMENDMENT AND
                               TERMINATION OF PLAN

Section 9.01 Effective Date. The Plan was approved by the Board of Directors on
December 8, 2000 and shall be approved by the stockholders of the Company within
twelve months thereof.

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Section 9.02 Plan Commencement. The initial Purchase Period under the Plan will
commence on January 2, 2001. Thereafter, each succeeding Purchase Period will
commence and terminate in accordance with Section 1.03.

Section 9.03 Powers of Board. The Board of Directors may amend or discontinue
the Plan at any time. No amendment or discontinuation of the Plan, however,
shall without stockholder approval be made that: (i) requires stockholder
approval under any rules or regulations of the National Association of
Securities Dealers, Inc. or any securities exchange that are applicable to the
Company or (ii) permits the issuance of Common Stock before payment therefor in
full.

Section 9.04 Automatic Termination. The Plan shall automatically terminate when
all of the shares of Common Stock provided for in Section 10.04 have been sold.

                            ARTICLE X. ADMINISTRATION

Section 10.01 The Committee. Subject to the provisions of Section 10.03, the
Plan shall be administered by a committee (the "Committee") of two or more
directors of the Company. The members of the Committee shall be appointed by and
serve at the pleasure of the Board of Directors.

Section 10.02 Powers of Committee. Subject to the provisions of the Plan, the
Committee shall have full authority to administer the Plan, including authority
to interpret and construe any provision of the Plan, to establish deadlines by
which the various administrative forms must be received in order to be
effective, and to adopt such other rules and regulations for administering the
Plan as it may deem appropriate. The Committee shall have full and complete
authority to determine whether all or any part of the Common Stock acquired
pursuant to the Plan shall be subject to restrictions on the transferability
thereof or any other restrictions affecting in any manner a Participant's rights
with respect thereto but any such restrictions shall be contained in the
documents by which a Participant elects to participate in the Plan pursuant to
Section 2.02. Decisions of the Committee will be final and binding on all
parties who have an interest in the Plan.

Section 10.03 Power and Authority of the Board. Notwithstanding anything to the
contrary contained herein, the Board, at any time and from time to time, without
any further action of the Committee, may exercise the powers and duties of the
Committee under this Plan. Moreover, the Board shall have the right to delegate
any or all of its rights and duties under the Plan (other than the authority to
amend the Plan) to any committee of the Board.

Section 10.04 Stock to be Sold. The Common Stock to be issued and sold under the
Plan may be treasury shares or authorized but unissued shares, or the Company
may purchase Common Stock in the market for sale under the Plan. Except as
provided in Section 11.01, the aggregate number of shares of Common Stock to be
sold under the Plan will not exceed 2,275,000 shares.

Section 10.05 Notices. Notices to the Committee should be addressed as follows:

                    eFunds Corporation
                    7272 East Indian School Road
                    Scottsdale,  AZ 85251
                    ATTN: Corporate Secretary

             ARTICLE XI. ADJUSTMENT FOR CHANGES IN STOCK OR COMPANY

Section 11.01 Stock Dividend or Reclassification. If the outstanding shares of
Common Stock are increased, decreased, changed into or exchanged for a different
number or kind of securities of the Company, or shares of a different par value
or without par value, through reorganization, recapitalization,
reclassification, stock dividend, stock split, amendment to the Company's
Certificate of Incorporation, reverse stock split or otherwise, an appropriate
adjustment shall be made in the maximum numbers and kind of securities to be
purchased under the Plan with a corresponding adjustment in the purchase price
to be paid therefor.

Section 11.02 Merger or Consolidation. If the Company is merged into or
consolidated with one or more corporations during the term of the Plan,
appropriate adjustments will be made to give effect thereto on an equitable
basis in terms of issuance of shares of the corporation surviving the merger or
of the consolidated corporation, as the case may be.

                           ARTICLE XII. APPLICABLE LAW

Rights to purchase Common Stock granted under the Plan shall be construed and
shall take effect in accordance with the laws of the State of Delaware.

                                       6<PAGE>   1
                                                                    Exhibit 10.1

                            MASTER PURCHASE AGREEMENT

                                     BETWEEN

                                 BOMBARDIER INC.

                                       AND

                              MESA AIR GROUP, INC.

Schedules to MPA 497                               Initials:
Mesa Air Group                          1          Buyer_______Bombardier_______
<PAGE>   2
                                TABLE OF CONTENTS

SECTION I  -  TERMS AND CONDITIONS, AND EXHIBITS

ARTICLE

      1       INTERPRETATION
      2       SUBJECT MATTER OF SALE
      3       AIRLINE SUPPORT SERVICES AND WARRANTY
      4       PRICE
      5       PAYMENT
      6       DELIVERY PROGRAM
      7       BUYER INFORMATION
      8       CERTIFICATION FOR EXPORT
      8A      REGULATORY CHANGES
      9       ACCEPTANCE PROCEDURE
     10       TITLE AND RISK
     11       CHANGES
     12       BUYER'S REPRESENTATIVES AT MANUFACTURE SITE
     13       EXCUSABLE DELAY
     14       NON-EXCUSABLE DELAY
     15       LOSS OR DAMAGE
     16       TERMINATION
     17       NOTICES
     18       INDEMNITY AGAINST PATENT INFRINGEMENT
     19       LIMITATION OF LIABILITY AND INDEMNIFICATION
     20       ASSIGNMENT
     21       SUCCESSORS
     22       APPLICABLE LAWS
     23       CONFIDENTIAL NATURE OF AGREEMENT
     24       AGREEMENT

Schedules to MPA 497                               Initials:
Mesa Air Group                          2          Buyer_______Bombardier_______
<PAGE>   3
SECTION I CONT'D

APPENDICES

     Appendix 1             [***]

EXHIBITS

     I            CERTIFICATE OF ACCEPTANCE
     II           BILL OF SALE
     III          CERTIFICATE OF RECEIPT OF AIRCRAFT
     IV           CHANGE ORDER

SECTION II -      SCHEDULES

SCHEDULES

   Schedule 1     Financing

   Schedule 2     [***]

   Schedule 3     Airworthiness Directives / Service Bulletins

   Schedule 4     Schedule Completion Guarantee ("SCRG")

   Schedule 5     Engineering Services

   Schedule 6     Simulator Training/Simulators Pilot Same Type Rating and
                  Systems Trainer Intentionally Left Blank

   Schedule 7     Spare Parts Credit Memorandum

   Schedule 8     Airframe Direct Maintenance Cost Guarantee (ADMCG")

SECTION III  -    AIRLINE SERVICES AND WARRANTY AND SERVICE LIFE POLICY

ANNEXES

   A           AIRLINE SERVICES
   B           WARRANTY AND SERVICE LIFE POLICY

Schedules to MPA 497                               Initials:
Mesa Air Group                          3          Buyer_______Bombardier_______
<PAGE>   4
Supplement No. PA-497-1
      Annex 1       Specification
      Annex 2       Buyer Selected Optional Features
      Annex 3       Option Aircraft
      Annex 4       Aircraft Credit Memorandum
      Annex 5       Intentionally Left Blank
      Annex 6       Performance Guarantee
      Annex 7       Silent Aircraft Options

Supplement No. PA-497-2
      Annex 1       Specification
      Annex 2       Buyer Selected Optional Features
      Annex 3       Option Aircraft
      Annex 4       Aircraft Credit Memorandum
      Annex 5       Intentionally Left Blank
      Annex 6       CRJ 700 Aircraft Performance Guarantee
      Annex 7       CRJ 700 Lease Rate Subsidies
      Annex 8       Silent Aircraft Options

Supplement No. PA-497-3
      Annex 1       Specification
      Annex 2       Buyer Selected Optional Features
      Annex 3       Option Aircraft
      Annex 4       Aircraft Credit Memorandum
      Annex 5       CRJ 900 Aircraft Launch Customer Credit Memorandum
      Annex 6       CRJ 900 Aircraft Performance Guarantee
      Annex 7       CRJ 900 Lease Rate Subsidies
      Annex 8       Silent Aircraft Options
      Annex 9       CRJ 900 Termination

[***]

Schedules to MPA 497                               Initials:
Mesa Air Group                          4          Buyer_______Bombardier_______
<PAGE>   5
This Master Purchase Agreement is made on the     day of May, 2001

BY AND BETWEEN:            BOMBARDIER INC., a Canadian corporation represented
                           by BOMBARDIER AEROSPACE, REGIONAL AIRCRAFT having an
                           office at 123 Garratt Boulevard, Downsview, Ontario,
                           Canada ("Bombardier")

AND:
                           MESA AIR GROUP, INC.
                           410 N. 44th St., Suite 700
                           Phoenix, AZ 85008 ("Buyer")

WHEREAS                    Buyer desires to purchase twenty (20) Canadair
                           Regional Jet aircraft Series 200 ("CRJ 200), twenty
                           (20) Canadair Regional Jet aircraft Series 700 ("CRJ
                           700"), and twenty (20) Canadair Regional Jet aircraft
                           Series 900 ("CRJ 900") Aircraft (as later defined)
                           and related data, documents, and services under this
                           Agreement (as later defined), and Bombardier desires
                           to sell or arrange the sale of such Aircraft, data,
                           documents and services to Buyer,

NOW THEREFORE, in consideration of the mutual covenants herein contained and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Buyer and Bombardier agree as follows:

Schedules to MPA 497                               Initials:
Mesa Air Group                          5          Buyer_______Bombardier_______
<PAGE>   6
                                    SECTION I

                                       OF

                      MASTER PURCHASE AGREEMENT NO. PA-497

                              TERMS AND CONDITIONS

Schedules to MPA 497                               Initials:
Mesa Air Group                          6          Buyer_______Bombardier_______
<PAGE>   7
ARTICLE 1  -  INTERPRETATION

1.1      The recitals above have been inserted for convenience only and do not
         form part of this Agreement.

1.2      The headings in this Agreement are included for convenience only and
         shall not be used in the construction and interpretation of this
         agreement.

1.3      In this Agreement, unless otherwise expressly provided, the singular
         includes the plural and vice-versa.

1.4      In this Agreement the following expressions shall, unless otherwise
         expressly provided, mean:

         (a)      "Acceptance Period" shall have the meaning attributed to it in
                  Article 9.3;

         (b)      "Acceptance Date" shall have the meaning attributed to it in
                  Article 9.7(a);

         (c)      "Agreement" means this Master Purchase Agreement, and
                  incorporated herein by this reference, its Supplements and any
                  Letter Agreements, executed and delivered by the parties
                  hereto in connection with the transactions contemplated by
                  this Agreement, including, in each case, their Exhibits,
                  Annexes, Schedules and Appendices, if any, either attached
                  hereto or subsequently agreed by the parties hereto, pursuant
                  to the provisions of this Agreement, as amended from time to
                  time pursuant to the provisions of this Agreement;

         (d)      "Aircraft" shall have the meaning attributed to it in Article
                  1.0 of the applicable Supplement;

         (e)      "Aircraft Purchase Price" shall have the meaning attributed to
                  it in the applicable Supplement;

         (f)      "Base Price" shall have the meaning attributed to it in
                  Article 2.0 of the applicable Supplement;

         (g)      "Bill of Sale" shall have the meaning attributed to it in
                  Article 9.7(c);

         (h)      "BFE" shall have the meaning attributed to it in Article 7.2;

         (i)      "Buyer Selected Optional Features" shall have the meaning
                  attributed to it in Annex 2of the applicable Supplement;

         (j)      "Delivery Date" shall have the meaning attributed to it in
                  Article 9.7(c);

Schedules to MPA 497                               Initials:
Mesa Air Group                          7          Buyer_______Bombardier_______
<PAGE>   8
         (k)      "Economic Adjustment Formula", if applicable, shall have the
                  meaning attributed to it in Appendix 1;

         (l)      "Excusable Delay" shall have the meaning attributed to it in
                  Article 13.1;

         (m)      "FAA" shall have the meaning attributed to it in Article 8.1;

         (n)      "Interest Rate" means 200 basis points above LIBOR.

         (o)      "LIBOR" means the six (6) month London interbank borrowing
                  rate as published in the Wall Street Journal.

         (q)      "Non-Excusable Delay" shall have the meaning attributed to it
                  in Article 14.1;

         (r)      "Notice" shall have the meaning attributed to it in Article
                  17.1;

         (s)      "Other Patents" shall have the meaning attributed to it in
                  Article 18.1;

         (t)      "Permitted Change" shall have the meaning attributed to it in
                  Article 11.2;

         (u)      "Readiness Date" shall have the meaning attributed to it in
                  Article 9.1.3;

         (v)      "Regulatory Change" shall have the meaning attributed to it in
                  Article 8.A.1;

         (w)      "Scheduled Delivery Month" shall have the meaning attributed
                  to it in the applicable Supplement;

         (x)      "Specification" shall have the meaning attributed to it in the
                  applicable Supplement;

         (y)      "Supplement" means a supplementary agreement to this Agreement
                  entered into by the parties for the purchase of specific
                  products offered for sale by Bombardier, Inc.;

         (z)      "Taxes" shall have the meaning attributed to it in Article
                  4.2; and

         (aa)     "TC" shall have the meaning attributed to it in Article 8.1.

1.5      All dollar amounts in this Agreement are in United States Dollars.

Schedules to MPA 497                               Initials:
Mesa Air Group                          8          Buyer_______Bombardier_______
<PAGE>   9
ARTICLE 2  - SUBJECT MATTER OF SALE

2.1      A description of the Aircraft being purchased and sold under the terms
         of this Agreement and the related Bombardier specification document
         number(s) will be set out in the applicable Supplement.

Schedules to MPA 497                               Initials:
Mesa Air Group                          9          Buyer_______Bombardier_______
<PAGE>   10
ARTICLE 3  -  CUSTOMER SUPPORT SERVICES AND WARRANTY

3.1      Bombardier shall provide to Buyer the customer support services
         pursuant to the provisions of Annex A attached hereto and the
         applicable Supplement.

3.2      Bombardier shall provide to Buyer the warranty and the service life
         policy described in Annex B attached hereto and the applicable
         Supplement which shall be the exclusive warranty applicable to the
         Aircraft.

3.3      Unless expressly stated otherwise, the services referred to in 3.1 and
         3.2 above and the applicable Supplement are offered in connection with
         and are material to the sale of the Aircraft and are included in the
         Aircraft Purchase Price.

Schedules to MPA 497                               Initials:
Mesa Air Group                         10          Buyer_______Bombardier_______
<PAGE>   11
ARTICLE 4  -  PRICE

4.1      (a)      The base price for each of the Aircraft is set out in Article
                  2 of the applicable Supplement.

         (b)      The base price of the Buyer Selected Optional Features is set
                  out in the applicable Supplement.

4.2      The Aircraft Purchase Price (as defined in the applicable Supplement)
         does not include any taxes, fees or duties including, but not limited
         to, sales, use, value added (including the Canadian Goods and Services
         Tax), personal property, gross receipts, franchise, excise taxes,
         assessments or duties which are or may be imposed with respect to the
         Aircraft and other related services. Bombardier agrees to bear and pay
         when due, to assume liability for, and to indemnify, defend and hold
         harmless Buyer from, any and all taxes, duties, imposts and similar
         charges, including penalties and interest of any nature ("Taxes") that
         are both: (a) levied, assessed, charged or collected for or in
         connection with (i) the fabrication, manufacture, modification,
         assembly, transfer, sale (including any corresponding use tax),
         delivery of or export from Canada of any Aircraft before, at or in
         connection with the actual delivery or exportation thereof (even if
         such tax is assessed at later date) (and provided such Taxes are not
         payable as a result of Buyer having a connection with Canada other than
         being a party to this Agreement and purchasing and accepting delivery
         of the Aircraft in Canada) or (ii) the payment of any amount by
         Bombardier to Buyer contemplated by this Agreement; and (b) imposed
         upon Bombardier or Buyer by Canada or any provincial or local
         government or taxing authority thereof. Buyer will promptly export the
         Aircraft from Canada following delivery and will not divert the same
         for use, consumption, sale or other disposition in Canada subsequent to
         actual delivery and prior to export. If Buyer fails to promptly export
         the Aircraft from Canada following delivery, Bombardier will not have
         any obligation under this Article 4.2 to the extent that Taxes covered
         by this Article 4.2 are payable as a result of such failure. Bombardier
         further agrees to bear and pay when due, to assume liability for, and
         to indemnify, defend and hold harmless Buyer from any and all costs and
         liabilities, including reasonable attorneys' fees, incurred in
         connection with defending any claims for the costs and liabilities
         described in this Article 4.2. If any Canadian Taxes, including any
         Taxes assessed by Canada or any provincial or local government or
         taxing authority thereof, are required to be deducted or withheld from,
         or paid in connection with, any payments required to be made by this
         Article 4.2, Bombardier shall either pay such Canadian Taxes directly
         to the taxing authority or reimburse Buyer so that Buyer ultimately
         receives the amount it would have received if no such Canadian Taxes
         had been imposed. However, this Article 4.2 shall not apply to any
         claim against Buyer for which Buyer is otherwise entitled to
         indemnification from Bombardier under this

Schedules to MPA 497                               Initials:
Mesa Air Group                         11          Buyer_______Bombardier_______
<PAGE>   12
         Article 4.2 unless Buyer notifies Bombardier in writing of such claim,
         and, further provided, that upon written request of Bombardier, Buyer
         will, if then permitted by law, permit Bombardier to contest or protest
         such Taxes at Bombardier's expense and provide reasonable cooperation
         to Bombardier in such contest or protest.

         If Bombardier pays any Taxes in accordance with the above and Buyer is
         entitled to a total or partial refund of or other form of relief
         (including the benefit of a tax credit) from such Taxes that does not
         arise from and is not otherwise attributable to the duplicate payment
         of such Taxes by Buyer, Buyer shall, upon the request of Bombardier,
         irrevocably assign the right to such refund or other form of relief
         (including the benefit of a tax credit) to Bombardier or, if such an
         assignment would be illegal or unenforceable, take whatever action is
         required to obtain such refund or other form of relief (including the
         benefit of a tax credit) (at Bombardier's expense) and remit the
         proceeds therefrom to Bombardier.

         In the event that there is a change in Canadian or United States law,
         rules or regulations, which has a material adverse taxable effect on
         either Bombardier or Buyer in connection with the fabrication,
         manufacture, modification, assembly, sale, delivery, transfer or export
         of any Aircraft to Buyer or its designee, Bombardier and Buyer will
         cooperate to effect the delivery of the Aircraft in a jurisdiction or
         take such other appropriate action which will minimize the impact of
         such a change in Canadian or United States law, rules or regulations,
         on the affected party, taking into account any Taxes resulting from
         delivery of the Aircraft in such jurisdiction, provided no additional
         out of pocket expenses will be incurred by the non-affected party by
         the change in delivery location.

         In addition, Bombardier agrees to bear and pay when due, to assume
         liability for, and to indemnify defend and hold harmless Buyer, from,
         any and all taxes, sanctions, fees or duties of any kind or nature
         resulting in consequence or growing out of any trade disputes that are
         levied against or imposed upon Buyer in connection with Buyer's
         purchasing of the Aircraft, after all Buyer's legal and contractual
         rights have been exhausted at Bombardier's cost, or alternatively after
         Buyer has, at Bombardier's request, subrogated Bombardier in all of its
         legal and contractual rights in respect of the same subject to a
         mutually agreed upon subrogation agreement and such subrogated legal
         and contractual rights have been exhausted.

         Upon either party's request, the other party shall execute and deliver
         to the requesting party any documents reasonably requested by the
         requesting party in connection with any available exemption from,
         reduction of, contestation of or defense against any imposition of
         Taxes that the requesting party is required to pay or reimburse.

Schedules to MPA 497                               Initials:
Mesa Air Group                         12          Buyer_______Bombardier_______
<PAGE>   13
4.3      The price of the Aircraft shall be the Base Price adjusted for changes
         made pursuant to Article 11.1 and any Regulatory Changes pursuant to
         Article 8A.1 (other than any such Regulatory Change which is to be made
         without additional charge to Buyer pursuant to Article 8A.2) and/or
         reduction for applicable Aircraft credits, and further adjusted to the
         Delivery Date to reflect economic fluctuations during the period from
         [***] to the Delivery Date of each Aircraft (the Base Price, as
         adjusted, the "Aircraft Purchase Price"). Such adjustments shall be in
         accordance with the economic adjustment formula attached as Appendix 1
         ("Economic Adjustment Formula") [***]-provided that (i) in the case of
         an Excusable Delay (as defined in Article 13), [***]-shall be made with
         respect to the period by which delivery of the Aircraft was delayed as
         a result of such Excusable Delay, and (ii) in the case of a
         Non-Excusable Delay (as defined in Article 14), [***]; and provided
         further that when adjusted, the Aircraft Purchase Price shall in no
         case be lower than the Aircraft Base Price, as stipulated in Article
         4.1 herein.

Schedules to MPA 497                               Initials:
Mesa Air Group                         13          Buyer_______Bombardier_______
<PAGE>   14
ARTICLE 5  -  PAYMENT

5.1      Buyer shall make the following deposit payments to Bombardier: (i)
         within two (2) business days from the date of execution of this
         Agreement, [***]. Such amounts will be held by Bombardier and returned
         to Buyer, as follows: 1) [***] 2) subject to adjustment pursuant to
         Article 14, the remaining [***] shall be repaid to Buyer on a pro rata
         basis in equal amounts upon the [***] pursuant to this Agreement. [***]
         Upon delivery of the Aircraft, Buyer shall pay the Aircraft Purchase
         Price in accordance with Article 2 of the applicable Supplement as
         reduced by the application of any Aircraft Credit Memorandum issued by
         Bombardier and permitted to be used for such purpose and in the case of
         the CRJ 900 Aircraft, the CRJ 900 Launch Credit.

5.2      Subject to the provisions of Article 9.9 hereof and Schedule 1 and
         Bombardier having satisfied its obligations under Article 8, Article 9
         and Schedule 1, should Buyer fail to make any of the payments required
         under the applicable Supplement or Article 5.1 hereof on or before the
         stipulated date and Buyer does not correct the failure within a period
         of thirty (30) days thereafter, Buyer shall be in default and any
         Supplement and this Agreement as it relates thereto shall automatically
         terminate and Bombardier shall have no further obligation to Buyer
         under any Supplement and this Agreement as it relates thereto,
         including the obligation to proceed further with the manufacture of any
         or all of the Aircraft on behalf of Buyer or the sale and/or delivery
         of the Aircraft to Buyer. Notwithstanding the preceding sentence
         Bombardier shall have the option (but not the obligation) of waiving
         such termination should Buyer make arrangements satisfactory to
         Bombardier for such payment and all future payments within ten (10)
         calendar days of the automatic termination.

5.3      [***] The applicable party's right to receive such interest is in
         addition to any other right or remedy such party has at law as a result
         of the other party's failure to make payments when due.

5.4      Buyer shall make all payments due under this Agreement and/or any
         applicable Supplement in immediately available United States Dollars by
         deposit on or before the due date, to Bombardier's account, as set out
         in the applicable Supplement in the following manner:

         (a)      Transfer to:            National Bank of Canada
                                          New York, N.Y. 10101 USA
                                          Fed. [***]

         (b)      For credit to:          National Bank of Canada
                                          UID 014897
                                          600 de la Gauchetiere St. West

Schedules to MPA 497                               Initials:
Mesa Air Group                         14          Buyer_______Bombardier_______
<PAGE>   15
                                          Montreal, Quebec, H3B 4L3
                                          Transit No [***]

         (c)      For further credit to:  Bombardier Inc.
                                          Canadair Division
                                          Account No [***]

5.5      All amounts due with respect to each Aircraft shall be paid on or prior
         to the Delivery Date of the respective Aircraft.

5.6      All payments provided for under this Agreement and/or any applicable
         Supplement shall be made so as to be received in immediately available
         funds on or before the dates stipulated herein.

5.7      Bombardier shall remain the exclusive owner of the Aircraft, free and
         clear of all rights, liens, charges or encumbrances created by or
         through Buyer, until such time as all payments from Buyer referred to
         in this Article 5 with respect to the relevant Aircraft have been
         received in full by Bombardier.

Schedules to MPA 497                               Initials:
Mesa Air Group                         15          Buyer_______Bombardier_______
<PAGE>   16
ARTICLE 6  -  DELIVERY PROGRAM

6.1      The Aircraft shall be offered for inspection and acceptance to Buyer at
         Bombardier's facility located in Montreal, Quebec, Canada and during
         the month(s) or quarter(s) as set forth in the applicable Supplement
         (the "Scheduled Delivery Months").

Schedules to MPA 497                               Initials:
Mesa Air Group                         16          Buyer_______Bombardier_______
<PAGE>   17
ARTICLE 7  -  BUYER INFORMATION

7.1      During the manufacture of the Aircraft, Buyer shall provide to
         Bombardier on or before the date specified below or, if no date is
         specified on or before the date reasonably required by Bombardier, all
         information as Bombardier may reasonably request to manufacture the
         Aircraft including, without limitation, the selection of furnishings
         and internal and external colour schemes.

         Within sixty (60) days of signing this Agreement, Buyer shall:

         (a)      provide Bombardier with an external paint scheme agreed on by
                  the parties, (for the avoidance of doubt, an external paint
                  scheme similar to and not significantly more complicated than
                  that currently employed by Buyer is acceptable to Bombardier);

         (b)      select interior colours; and

         (c)      provide to Bombardier, on such drawings if and as are
                  forwarded to Buyer by or at the request of Bombardier,
                  language translations for interior and exterior Aircraft
                  labels.

                  Failure of Buyer to comply with these requirements may result
                  in an increase in price equal to Bombardier's additional
                  reasonable out-of-pocket expenses, a delay in delivery of the
                  Aircraft, or both, in either case, reasonably related to
                  Buyer's failure. Bombardier shall use its reasonable efforts
                  to prevent or minimize any such delay or price increase.

7.2      Unless otherwise agreed by the parties hereto, not later than nine (9)
         months prior to the Scheduled Delivery Month of the applicable Aircraft
         to be delivered pursuant to the applicable Supplement, Buyer shall
         notify Bombardier in writing of the Buyer furnished equipment ("BFE")
         (if any) that Buyer wishes to have incorporated into each Aircraft.
         Buyer shall also provide details of:

         (a)      weights and dimensions of the BFE;

         (b)      test equipment or special tools required to incorporate the
                  BFE; and

         (c)      any other information Bombardier may reasonably require.

         Within sixty (60) calendar days thereafter, Bombardier shall advise
         Buyer of the reduction of the Aircraft Purchase Price if such BFE is to
         replace

Schedules to MPA 497                               Initials:
Mesa Air Group                         17          Buyer_______Bombardier_______
<PAGE>   18
         Bombardier supplied equipment and of the dates by which each item of
         BFE is reasonably required by Bombardier. If required the parties
         hereto shall execute a Change Order in accordance with Article 11.1 to
         cover such BFE.

7.3      The BFE shall be incorporated in the manufacturing process of the
         Aircraft subject to the following conditions:

         (a)      Title to the BFE shall remain at all times with Buyer and risk
                  of loss of the BFE shall remain at all times with Buyer except
                  for damages caused by Bombardier's gross negligence or willful
                  misconduct.

         (b)      Buyer shall bear the costs of delivery of the BFE to
                  Bombardier's plant or such other place as Bombardier may
                  reasonably designate, which shall be made no later than the
                  date notified pursuant to Article 7.2, free and clear of any
                  taxes, duties, licenses, charges, liens or other similar
                  claims;

         (c)      The BFE shall meet:

                  1)       reasonable standards of quality of Bombardier, and

                  2)       the requirements of the applicable airworthiness
                           certification agency;

         (d)      The BFE shall be delivered to Bombardier in good condition and
                  ready for immediate incorporation into the Aircraft.
                  Bombardier shall, upon receipt, inspect the BFE as to quantity
                  and apparent defects and inform Buyer of any discrepancies and
                  the required corrective actions to be taken;

         (e)      Bombardier shall only be responsible for the fitment and
                  testing of the BFE in the Aircraft using reasonable care and
                  good manufacturing practices, in accordance with Buyer's
                  written detailed description of the dimensions and weight of
                  such BFE. Buyer shall also furnish information necessary for
                  its proper storage, fitment, servicing, maintenance and
                  operation and regarding availability of test equipment or
                  special tools;

         (f)      BOMBARDIER SHALL HAVE NO LIABILITY OR OTHER OBLIGATIONS AND IS
                  HEREBY RELIEVED OF ANY LIABILITY, WARRANTY OR OTHER OBLIGATION
                  WITH RESPECT TO THE BFE AND BUYER HEREBY WAIVES ALL EXPRESS OR
                  IMPLIED WARRANTIES OR CONDITIONS INCLUDING THOSE OF
                  MERCHANTABILITY OR FITNESS OR OTHERWISE AND ALL OTHER
                  LIABILITY (STRICT OR OTHERWISE) ON THE PART OF BOMBARDIER, BE
                  IT IN

Schedules to MPA 497                               Initials:
Mesa Air Group                         18          Buyer_______Bombardier_______
<PAGE>   19
                  FACT, IN LAW, IN CONTRACT, OR IN TORT (INCLUDING WITHOUT
                  LIMITATION THE ACTIVE, PASSIVE OR IMPUTED NEGLIGENCE OR STRICT
                  PRODUCTS LIABILITY OF BOMBARDIER OR ITS AFFILIATES), OR
                  OTHERWISE, IN CONNECTION WITH THE BFE OR ITS DESIGN,
                  SUITABILITY, USE OR OPERATION.

7.4      If at any time between receipt of the BFE by Bombardier and the
         Delivery Date, it is reasonably determined by Bombardier that an item
         of BFE supplied does not meet the standards and requirements described
         above or its fitment, integration and testing in the Aircraft or
         Aircraft systems create delays in the manufacturing or certification
         process, then such BFE may be removed and replaced by other BFE or, if
         not available, by Bombardier's equipment. All reasonable costs
         associated with the removal, refitment, replacement, testing,
         certification and/or reasonable delays in the Delivery Date of the
         Aircraft resulting therefrom shall be borne by Buyer, provided that
         Bombardier shall use its reasonable efforts to minimize any such delays
         and costs.

7.5      In the event that the delivery of an Aircraft is delayed due to any
         delay caused by Buyer's failure to:

         (a)      deliver or have BFE delivered by the date required;

         (b)      ensure satisfactory design, suitability, use or operation of
                  the BFE;

         (c)      furnish or obtain applicable BFE data;

         (d)      perform any adjusting, calibrating, retesting or updating of
                  BFE;

         (e)      furnish or obtain any approvals in compliance with the
                  provisions of this Article; or

         (f)      comply with the conditions of this Article,

         Bombardier agrees to discuss with Buyer and to take such steps
         reasonably appropriate to minimize, cure, eliminate or work around the
         delay, but any such delay incurred shall be the responsibility of Buyer
         and Buyer shall pay to Bombardier any reasonable costs and expenses
         incurred by Bombardier due to such delay to the extent unavoidable by
         Bombardier using its reasonable efforts.

7.6      Should there be a delay in delivery caused either by an event outlined
         in 7.5 above or by an event to which reference is made in Article 13 in
         connection with the BFE, and if such delay cannot reasonably be
         minimized, cured, eliminated or worked around by agreement of the
         parties, Buyer agrees that

Schedules to MPA 497                               Initials:
Mesa Air Group                         19          Buyer_______Bombardier_______
<PAGE>   20
         Bombardier may deliver the Aircraft without installing the, delayed or
         nonconforming BFE, and Buyer agrees to take delivery of and pay for the
         Aircraft unless such BFE is required to obtain the FAA Certificate of
         Airworthiness for the Aircraft in which event Bombardier shall provide
         Buyer with a revised Readiness Date in respect of the applicable
         Aircraft. For the avoidance of doubt, the Economic Adjustment Formula
         in Appendix 1 attached hereto will apply in full with respect to the
         events outlined in 7.5 above to the extent that the occurrence of any
         such event causes any delay in the delivery which was unavoidable by
         Bombardier using its reasonable efforts to prevent the same.

7.7      If this Agreement is terminated in whole or in part in accordance with
         the provisions hereof Bombardier may elect to, by written notice to
         Buyer, either:

         (a)      purchase the BFE ordered by Buyer and/or received by
                  Bombardier at a mutually agreeable price; or

         (b)      return the BFE to Buyer Free Carrier (Incoterms 2000)
                  Bombardier's plant, or such other place that Bombardier may
                  designate within Canada or in the 48 contiguous United States.

Schedules to MPA 497                               Initials:
Mesa Air Group                         20          Buyer_______Bombardier_______
<PAGE>   21
ARTICLE 8  -  CERTIFICATION FOR EXPORT

8.1      Bombardier has obtained or will at no charge to Buyer obtain from
         Transport Canada, Airworthiness ("TC"), a TC Type Approval (Transport
         Category) and from the Federal Aviation Administration of the United
         States ("FAA") an FAA Part 25 Type Certificate for the type of aircraft
         purchased under this Agreement and any applicable Supplement. Such
         certificates will be valid on the applicable delivery date. Bombardier
         will also provide a TC Certificate of Airworthiness for export on or
         before the Readiness Date and any other certificates and permits agreed
         upon by Buyer and Bombardier and expressly provided for in this
         Agreement or any applicable Supplement.

8.2      Other than as required by 8.1 above Bombardier shall not be obligated
         to obtain any certificates or approvals as part of this Agreement;
         except that Bombardier shall obtain (a) any certificates required to be
         obtained by the manufacturer of commercial aircraft to permit the
         general operation of the Aircraft under those requirements of the FAA
         FAR Part 25 regulations generally applicable to United States
         certificated air carriers and (b) any certificates required to be
         delivered in connection with a Regulatory Change. Prior to 11:00 am
         Oklahoma City, Oklahoma time on the Delivery Date, Bombardier shall
         provide proof that the Aircraft is de-registered or that it was not
         registered in Canada. In addition, Bombardier shall use reasonable
         efforts to de-register the Aircraft and provide the proof described in
         the preceding sentence as soon as reasonably practicable following
         confirmation that no further acceptance flight is required for such
         Aircraft. Except as otherwise required under this Article 8, the
         obtaining of any other import license or authority required to import
         the Aircraft into or operate the Aircraft in any country outside of
         Canada shall be the responsibility of Buyer. Bombardier shall on behalf
         of Buyer and to the extent permitted by law, and with Buyer's
         reasonable assistance, seek the issuance of any Canadian export
         licenses or permits required to enable Buyer to export the Aircraft
         from Canada and/or the import of the Aircraft into the United States in
         each case in accordance with prevailing export and import control
         regulations in effect on the Delivery Date. Notwithstanding the
         assistance to be provided to Buyer as set forth in the preceeding
         sentence, it is Buyer's responsibility to secure such other permits or
         licenses required for the export of the Aircraft from Canada and/or the
         import of the Aircraft into the United States. Buyer will indemnify
         Bombardier for any out of pocket expenses, costs and fees Bombardier
         incurs to obtain such export permits and licenses.

8.4      If the use of any of the certificates identified in this Article 8 are
         discontinued during the performance of this Agreement, reference to
         such discontinued certificate shall be deemed a reference to any other
         certificate or instrument

Schedules to MPA 497                               Initials:
Mesa Air Group                         21          Buyer_______Bombardier_______
<PAGE>   22
         which corresponds to such certificate or, if there should not be any
         such other certificate or instrument, then Bombardier shall be deemed
         to have obtained such discontinued certificate(s) upon demonstrating
         that the Aircraft otherwise complies with all of the conditions
         required to be met on the Delivery Date of the Aircraft.

8.5      Subject to the provisions of this Agreement relating to Regulatory
         Changes and changes mutually agreed upon by the parties hereto,
         Bombardier shall be responsible for all certifications and approvals
         related to the installation of the engines and related hardware and
         software, if any, on the Aircraft at no cost to Buyer, provided,
         however, Bombardier may include in the price of changes requested by
         Buyer the cost of obtaining the related certificates and approvals.

8.6      Buyer is not required to accept delivery of any Aircraft that does not
         possess as and when required by this Agreement any certificate required
         to be obtained by Bombardier on or prior to the Readiness Date and that
         remains valid on the Delivery Date pursuant to Article 8. Buyer is not
         required to accept delivery of any Aircraft if that Aircraft is not in
         a condition that makes it immediately eligible for the issuance of (i)
         the certificates required by Article 8 where Bombardier is required
         pursuant to Article 8 to deliver the Aircraft in a condition that
         permits the immediate issuance of such certificates and (ii) the FAA
         Certificate of Airworthiness upon entry into the United States.

8.7      Bombardier shall make available for inspection the FAA required
         maintenance logbooks for the Aircraft on or before the Readiness Date
         for the Aircraft.

Schedules to MPA 497                               Initials:
Mesa Air Group                         22          Buyer_______Bombardier_______
<PAGE>   23
ARTICLE 8A  -  REGULATORY CHANGES

8A.1     If any addition or change to, or modification or testing of the
         Aircraft is required by any law or governmental regulation or
         requirement or interpretation thereof by any governmental agency having
         jurisdiction in order to meet the requirements of Article 8 (a
         "Regulatory Change"), such Regulatory Change shall be made to the
         Aircraft prior to Delivery Date, or at such other time after the
         Delivery Date as the parties may agree upon.

         [***]

8A.3     Subject to Bombardier's right set forth in Supplement 3 Article 3.3 in
         respect of the CRJ 900 Aircraft to defer delivery as a result of any
         delays from obtaining TC or FAA certification or directives from any of
         said authorities resulting in additional work required on such Aircraft
         in order to meet airworthiness regulations, if delivery of the Aircraft
         is delayed by the incorporation of any Non-CRJ Regulatory Change, such
         delay shall be an Excusable Delay within the meaning of Article 13.
         [***]

8A.4     Bombardier shall issue a Change Order, reflecting any Regulatory Change
         required to be made under this Article 8A, which shall set forth in
         detail the particular changes to be made and the effect, if any, of
         such changes on design, performance, weight, balance and time of
         delivery, [***], Base Price and Aircraft Purchase Price. Any Change
         Orders issued pursuant to this Article with respect to a Non-CRJ
         Regulatory Change, shall be effective and binding upon the date of
         Bombardier's transmittal of such Change Order. Any Change Orders issued
         pursuant to this Article with respect to a CRJ Regulatory Change which
         has a material negative impact on the aforementioned parameters shall
         be effective and binding only if and when agreed to in writing by
         Buyer.

8A.5     Reference to a regulatory authority shall include any succeeding
         department or agency then responsible for the duties of said regulatory
         authority.

8A.6     [***]

Schedules to MPA 497                               Initials:
Mesa Air Group                         23          Buyer_______Bombardier_______
<PAGE>   24
ARTICLE  9  -  ACCEPTANCE PROCEDURE

9.1      Bombardier shall give Buyer notice, by facsimile or telegraphic
         communication or other expeditious means, of the date of readiness of
         each Aircraft for inspection and acceptance by Buyer as follows:

                  9.1.1    Bombardier will give notice of no less than [***]
                           prior to the first day of the relevant Aircraft's
                           Scheduled Delivery Month, confirming the targeted
                           week within the Scheduled Delivery Month during which
                           the Aircraft is planned to be available for delivery
                           and inspection. Bombardier shall use reasonable
                           efforts to meet this tentative delivery week, but
                           shall not be bound by such tentative delivery week;
                           and

                  9.1.2    Bombardier will give notice of no less than [***]
                           calendar days prior to the first day of the relevant
                           Aircraft's Scheduled Delivery Month, confirming the
                           delivery week (the "Scheduled Delivery Week") within
                           the Scheduled Delivery Month during which the
                           Aircraft will be available for delivery and the
                           commencement of inspection; and

                  9.1.3    Bombardier will give notice of no less than [***]
                           calendar days prior to the day (the "Readiness
                           Date"), within the Scheduled Delivery Week on which
                           the Aircraft will be tendered for the commencement of
                           Buyer's ground and flight inspection and acceptance.

                  9.1.4    Bombardier shall also provide notices of Scheduled
                           Delivery Months for the CRJ 900 Aircraft in calendar
                           months not less than [***] prior to the first day of
                           the calendar quarter in which the first scheduled CRJ
                           900 Aircraft delivery is to occur.

9.2      Not less than [***] days prior to the Readiness Date Buyer shall:

         (a)      provide notice to Bombardier as to the source and method of
                  payment of the balance of the Aircraft Purchase Price;

         (b)      identify to Bombardier the names of Buyer's representatives
                  who will participate in the inspection, acceptance flight and
                  acceptance; and

         (c)      provide evidence of the authority of the designated persons to
                  execute the Certificate of Acceptance and other delivery
                  documents on behalf of Buyer.

Schedules to MPA 497                               Initials:
Mesa Air Group                         24          Buyer_______Bombardier_______
<PAGE>   25
9.3      At delivery, each Aircraft (a) will conform to the applicable
         Specification and the applicable performance guarantees provided to
         Buyer pursuant to this Agreement, in any case as in effect on the
         Delivery Date, (b) will meet the requirements of Article 9.5 and (c)
         shall be free and clear of all liens, claims and encumbrances of any
         nature whatsoever except those created by or through Buyer including
         any vendor liens in respect of the Aircraft purchase price. Buyer shall
         have up to three (3) consecutive working days, subject to extension
         pursuant to Article 9.6, commencing on the later of the Readiness Date
         or the date the Aircraft is actually made available to Buyer for ground
         inspection and acceptance flight in which to complete the inspection
         and acceptance flight (such period being the "Acceptance Period").

9.4      Up to six (6) representatives of Buyer may participate in Buyer's
         ground inspection of the Aircraft and up to four (4) representatives of
         Buyer may participate in the acceptance flight. Bombardier shall, if
         requested by Buyer, perform an acceptance flight of not less than one
         (1) and not more than three (3) hours duration. Bombardier shall pay
         all of the costs related to such acceptance flight excluding any costs
         related to or associated with the participation of Buyer's personnel in
         such flights. Ground inspection and acceptance flight shall be
         conducted in accordance with mutually agreed acceptance procedures
         (agreed to by the parties at least thirty (30) days prior to the
         Scheduled Delivery Month of the first Aircraft governed by the
         applicable supplement hereunder) . At all times during ground
         inspection and acceptance flight, Bombardier shall retain control over
         the Aircraft, but shall permit one (1) of Buyer's representatives to
         fly the Aircraft for a reasonable period of time during such flight,
         and one of Bombardier's representatives shall be "captain-in-command".

9.5      If

         (a)      [***]

         (b)      the obligations of Bombardier under Article 8 are met;

         (c)      the obligations of Bombardier under Article 9.3 with respect
                  to the absence of liens and other encumbrances are met; and

         (d)      [***]
                  in each case subject to either the waiver of such delivery
                  requirement (collectively, the "Delivery Requirements") by
                  Buyer pursuant to the terms and conditions of a Discrepancy
                  Letter (as defined in Article 9.6 below) or Bombardier
                  correcting the discrepancy in accordance with the provisions
                  of Article 9.6 prior to the last day of the Acceptance Period,
                  Buyer shall accept the Aircraft on or before the last day of
                  the Acceptance Period in accordance with the provisions of
                  Article 9.7.

Schedules to MPA 497                               Initials:
Mesa Air Group                         25          Buyer_______Bombardier_______
<PAGE>   26
9.6      If any defect or discrepancy from the requirements of Article 9.3 in
         the Aircraft (a "Discrepancy") is revealed by Buyer's ground inspection
         or acceptance flight, such Discrepancy will be corrected by Bombardier,
         at no cost to Buyer as soon as reasonably possible. In the event of a
         failure to meet the Delivery Requirements due to a material defect or
         material discrepancy, to the extent necessary to verify the correction
         thereof, Bombardier shall permit additional ground inspection by Buyer
         and shall perform one (1) or more further acceptance flights in
         accordance with Article 9.4 and the Acceptance Period shall be extended
         as necessary. In the event Buyer desires to accept an Aircraft that
         Buyer is not required to accept pursuant to Article 9.6 having any
         material defect or material discrepancy and/or in the event that Buyer
         accepts delivery of an Aircraft having one or more Discrepancies not
         giving rise to a right for Buyer to refuse to accept delivery of such
         Aircraft pursuant to Article 9.6, the Parties shall mutually agree as a
         condition precedent to such acceptance, in the form of a letter
         agreement, on the Discrepancy and/or the material defect or material
         discrepancy, a timeline for and the manner of the correction of the
         same by Bombardier at no charge to Buyer and any remedies if the agreed
         upon correction period is not met (the "Discrepancy Letter"). [***]
         Payment of [***] liquidated damages will be by credit memorandum (the
         amount of which shall be applied to reduce the Aircraft Purchase Price
         or to be used for the purchase of Bombardier goods and services) or in
         cash, at Buyer's election, within five (5) business days of actual
         delivery of the applicable Aircraft or[***]

9.7      Upon completion of the ground inspection and acceptance flight of the
         Aircraft and correction of any material defects or material
         discrepancies:

         (a)      Buyer will sign a Certificate of Acceptance (in the form of
                  Exhibit I hereto) for the Aircraft. Execution of the
                  Certificate of Acceptance by or on behalf of Buyer shall be
                  evidence of Buyer having examined the Aircraft and found it in
                  accordance with the provisions of this Agreement but shall
                  not, except to the extent of such acknowledgement, constitute
                  a waiver of Buyer's rights under this Agreement, including,
                  without limitation, the Warranty, Service Life Policy or any
                  letter agreement executed and delivered by the parties hereto
                  in connection with this Agreement. The date of signature of
                  the Certificate of Acceptance shall be the "Acceptance Date";

         (b)      Bombardier will supply a TC Certificate of Airworthiness/for
                  export/and other certificates required by Article 8; and

         (c)      Buyer shall pay Bombardier the balance of the Aircraft
                  Purchase Price and any other amounts due, at which time
                  Bombardier shall issue an FAA Bill of Sale (the "FAA Bill of
                  Sale") and issue a bill of sale (in the

Schedules to MPA 497                               Initials:
Mesa Air Group                         26          Buyer_______Bombardier_______
<PAGE>   27
                  form of Exhibit II hereto) passing to Buyer good title to the
                  Aircraft free and clear of all liens, claims, charges and
                  encumbrances except for those liens, charges or encumbrances
                  created by or claimed through Buyer (the "Bill of Sale")
                  including any vendor lien created in the circumstances where
                  Bombardier permits delivery of an Aircraft to Buyer prior to
                  receipt of payment in full of the Aircraft Purchase Price. The
                  date on which Bombardier delivers the FAA Bill of Sale, Bill
                  of Sale and the permits, licenses and certificates required to
                  be delivered under Article 8 and Buyer takes delivery of the
                  Aircraft shall be the "Delivery Date".

         Delivery of the Aircraft shall be evidenced by the execution and
         delivery of the Bill of Sale and of the Certificate of Receipt of
         Aircraft (in the form of Exhibit III hereto).

9.8      Subject to Schedule 1 hereto and provided that Bombardier has met all
         of its obligations under Article 8, this Article 9 and Schedule 1,
         should Buyer not accept, pay for and take delivery of any of the
         Aircraft governed by the applicable Supplement within ten (10) business
         days after the end of the Acceptance Period of such Aircraft, Buyer
         shall be deemed to be in default of the terms of this Agreement with
         respect to all the undelivered Aircraft governed by the applicable
         Supplement.

9.9      Subject to Schedule 1 hereto and provided that Bombardier has met all
         of its obligations under Article 8, this Article 9 and Schedule 1,
         should Buyer not accept, pay for and/or take delivery of any one of the
         Aircraft governed by a Supplement within thirty (30) calendar days
         following the end of the Acceptance Period, this Agreement, with
         respect to all Aircraft governed by such Supplement shall automatically
         terminate. Bombardier shall however, have the option (but not the
         obligation) of waiving such termination should Buyer, within ten (10)
         calendar days following such termination, make arrangements
         satisfactory to Bombardier to accept delivery of and provide payment
         for all amounts owing or to become due pursuant to this Agreement and
         the applicable Supplement. [***]

ARTICLE 10  -  TITLE AND RISK

10.1     Title to the Aircraft and risk of loss of or damage to the Aircraft
         passes to Buyer when Bombardier presents the FAA Bill of Sale, the Bill
         of Sale and the valid permits, licenses and certificates required to be
         delivered under Article 8 and all conditions set forth in this
         Agreement and applicable supplements to Buyer's obligations to accept
         delivery of the Aircraft have been met or waived by Buyer on the
         Delivery Date and when Buyer has paid the purchase price in full.

Schedules to MPA 497                               Initials:
Mesa Air Group                         27          Buyer_______Bombardier_______
<PAGE>   28
10.2     If, after transfer of title on the Delivery Date, the Aircraft remains
         in the care, custody or control of Bombardier, Buyer shall retain risk
         of loss of, or damage to the Aircraft; and for itself and on behalf of
         its insurer(s) hereby waives and renounces, and releases Bombardier and
         any of Bombardier's affiliates from any claim, whether direct, indirect
         or by way of subrogation, for damages to or loss of the Aircraft
         arising out of, or related to, or by reason; of such care, custody or
         control [***]

Schedules to MPA 497                               Initials:
Mesa Air Group                         28          Buyer_______Bombardier_______
<PAGE>   29
ARTICLE 11  -  CHANGES

11.1     Other than a Permitted Change as described in Article 11.2, or a
         Regulatory Change as described in Article 8A.1, any change to this
         Agreement (including without limitation the Specification) or any
         features or BFE, if any, changing the Aircraft from that described in
         the Specification, requested by either party hereto, and as may be
         mutually agreed upon by the parties hereto, shall be made using a
         change order ("Change Order") substantially in the format of Exhibit IV
         hereto. Should either party request a change, Bombardier shall promptly
         advise Buyer of the effect, if any, of such change request on:

         (a)      the Scheduled Delivery Month, Schedule Delivery Week and the
                  Readiness Date (each as may be known at the time) and the
                  Aircraft on which the change will be effected;

         (b)      the price and payment terms applicable to the Change Order;
                  and

         (c)      any other material provisions of this Agreement (including the
                  Specification or the applicable performance guarantees
                  provided hereunder or in connection herewith) which will be
                  affected by the Change Order.

         Such Change Order shall become effective and binding on the parties
         hereto when signed by a duly authorized representative of each party.

11.2     Prior to the Delivery Date of any Aircraft Bombardier may without a
         Change Order or Buyer's consent:

         (a)      substitute the kind, type or source of any material, part,
                  accessory or equipment with any other material, part,
                  accessory or equipment of like, equivalent or better kind or
                  type; or

         (b)      make such change or modification to the Specification as it
                  deems appropriate to:

                  1)       improve the Aircraft, its maintainability or
                           appearance, or
                  2)       prevent delays in manufacture or delivery, or
                  3)       meet the delivery requirements of Articles 2, 6 and
                           8, other than with respect to a Regulatory Change to
                           which the provisions of Articles 8A.1 and 8A.2 shall
                           apply,

         [***] Any change made in accordance with the provisions of this Article
         11.2 shall be deemed to be a "Permitted Change" and the cost thereof
         shall be borne by Bombardier. Bombardier shall notify Buyer in writing
         prior to making any such change sufficiently in advance to give Buyer
         the opportunity to object to

Schedules to MPA 497                               Initials:
Mesa Air Group                         29          Buyer_______Bombardier_______
<PAGE>   30
         any such change on the basis that it has one of the prohibited effects
         set forth above. Other than a permitted change as described in this
         Article 11.2 or a Non-CRJ Regulatory Change as described in Article 8,
         or a CRJ Regulatory Change which does not have a material impact on the
         parameters set out in Article 8A.4, Bombardier shall not have the right
         to make any changes without the prior written consent of Buyer. Buyer
         is not required to accept delivery of any Aircraft that fails to meet
         the applicable performance guarantee as the result of the incorporation
         of a Permitted Change.

Schedules to MPA 497                               Initials:
Mesa Air Group                         30          Buyer_______Bombardier_______
<PAGE>   31
ARTICLE 12  -  BUYER'S REPRESENTATIVES AT MANUFACTURE SITE

12.1     Commencing with the date which is [***] prior to the Scheduled Delivery
         Month of the first Aircraft, and ending with the Delivery Date of the
         last Aircraft purchased hereunder, Bombardier shall furnish, without
         charge to Buyer, one (1) suitable office and the use of related
         equipment, including one (1) desk, file cabinets, two (2) telephone
         lines and access to shared facsimile and shared photocopy equipment,
         for [***] of Buyer's representatives. Such space and equipment shall be
         conveniently located at Bombardier's main manufacturing facility or
         such other location as may be mutually agreed by Bombardier and Buyer.
         Bombardier will also provide to Buyer's representative access to the
         tools, measuring devices, test equipment and technical and other
         assistance as may be reasonably necessary to perform acceptance tests
         and to inspect the Aircraft during manufacturing, provided that in
         doing so there is no disruption to the manufacturing process and that
         such things are available. Buyer shall be responsible for all expenses
         of its representatives and shall notify Bombardier at least thirty (30)
         days prior to the first scheduled visit of such representative and
         three (3) days prior to each subsequent visit.

12.2     Bombardier's and Bombardier's affiliates' facilities shall be
         accessible to Buyer's representative during normal working hours.
         Buyer's representatives shall have the right at any and all times
         during such normal business hours to observe the work at Bombardier's
         or Bombardier's affiliates' facilities where the work on Buyer's
         Aircraft is being carried out provided Buyer shall not cause any
         disruption in the performance of the work.

12.3     Bombardier shall advise Buyer's representative of Bombardier's or
         Bombardier's affiliates' rules and regulations applicable at the
         facilities being visited and Buyer's representatives shall conform to
         such rules and regulations, provided such rules and regulations are not
         discriminatorily applied to Buyer's representatives.

12.4     At any time prior to delivery of the Aircraft, Buyer's representatives
         may request, in writing, correction of parts or materials which they
         reasonably believe are not generally acceptable or in accordance with
         the Specification. Bombardier shall provide a written response to any
         such request. Communication between Buyer's representatives and
         Bombardier shall be solely through Bombardier's Contract Department or
         its designate.

12.5     BUYER HEREBY RELEASES AND AGREES TO DEFEND, INDEMNIFY AND HOLD HARMLESS
         BOMBARDIER, ITS ASSIGNEES AND AFFILIATES AND THEIR OFFICERS, DIRECTORS,
         AGENTS, EMPLOYEES AND CONTRACTORS FROM AND AGAINST ALL LIABILITIES,
         DAMAGES, LOSSES, COSTS AND

Schedules to MPA 497                               Initials:
Mesa Air Group                         31          Buyer_______Bombardier_______
<PAGE>   32
         EXPENSES RESULTING FROM INJURIES TO OR DEATH OF OR LOSS OF OR DAMAGE TO
         PROPERTY OF BUYER OR BUYER'S REPRESENTATIVES WHILE AT BOMBARDIER'S OR
         BOMBARDIER'S AFFILIATES OR SUBCONTRACTOR'S FACILITIES AND/OR DURING
         INSPECTION, ACCEPTANCE FLIGHT OR ACCEPTANCE OF THE AIRCRAFT, CAUSED BY
         THE NEGLIGENCE OF BOMBARDIER, ITS ASSIGNEES, AFFILIATES' OR THEIR
         OFFICERS, DIRECTORS, AGENTS, EMPLOYEES OR CONTRACTORS.

Schedules to MPA 497                               Initials:
Mesa Air Group                         32          Buyer_______Bombardier_______
<PAGE>   33
ARTICLE 13  -  EXCUSABLE DELAY

13.1     In the event of a delay on the part of Bombardier in the performance of
         its obligations or responsibilities under the provisions of this
         Agreement or any applicable Supplement due directly or indirectly to a
         cause which is beyond the reasonable control of Bombardier (an
         "Excusable Delay") except as provided in this Article, Bombardier shall
         not be liable for, nor be deemed to be in default under this Agreement
         nor under the applicable Supplement on account of such delay in
         delivery of the Aircraft or other performance hereunder and the time
         fixed or required for the performance of any obligation or
         responsibility in this Agreement or the applicable Supplement shall be
         extended for a period equal to the period during which any such cause
         or the effect thereof persists. Excusable Delay shall be deemed to
         include, without limitation, delays occasioned by the following causes:

         (a)      acts of God;
         (b)      war, warlike operations, act of the enemy, armed aggression,
                  civil commotion, insurrection, riot or embargo;
         (c)      fire, explosion, earthquake, lightning, flood, drought,
                  windstorm or other action of the elements or other
                  catastrophic or serious accidents;
         (d)      epidemic or quarantine restrictions;
         (e)      any change in legislation, acts, orders, directives or
                  regulations of any governmental or other duly constituted
                  authority (other than CRJ Regulatory Changes and CRJ
                  Airworthiness Directives) once the applicable Aircraft type
                  has been certified by the FAA;
         (f)      strikes, lock-out, walk-out, and/or other labor troubles, in
                  each case, with respect to employees of Bombardier causing
                  cessation of work;
         (g)      excepting BFE shortages resulting from an event described in
                  Article 7.5, lack or shortage or delay in delivery of
                  supplies, materials, accessories, equipment, tools or parts,
                  provided another reasonable and practicable source or measure
                  to avoid such lack, shortage or delay is not available to
                  Bombardier or the relevant supplier thereof;
         (h)      delay or failure of carriers, subcontractors or suppliers in
                  cases where no alternative carrier or supplier or
                  subcontractor is reasonably available and able to meet the
                  requirements for the Aircraft;
         (i)      delay in obtaining any airworthiness approval or certificate,
                  or any equivalent approval or certification, by reason of the
                  change in any law or governmental order, directive or
                  regulation, by a governmental agency, the effective date of
                  which is subsequent to the date of the applicable Supplement.

Schedules to MPA 497                               Initials:
Mesa Air Group                         33          Buyer_______Bombardier_______
<PAGE>   34
13.2

         (a)      In the event of an Excusable Delay, or an anticipated
                  Excusable Delay, Bombardier shall conduct an appraisal of the
                  facts and normal scheduling procedures, and if it concludes
                  that delivery of one or more of the Aircraft will be delayed
                  for more than [***] In the event Bombardier determines that
                  the Aircraft will be delayed for more than twelve (12) months
                  after the originally Scheduled Delivery Month, Bombardier may
                  terminate this Agreement with respect to such delayed Aircraft
                  by giving written notice to Buyer within thirty (30) business
                  days of the communication of such determination to Buyer.

         (b)      If, due to Excusable Delay, delivery of any Aircraft is
                  delayed for more than [***] If due to Excusable Delay,
                  delivery of any Aircraft is delayed for more than twelve (12)
                  months from the last day of the respective Scheduled Delivery
                  Month, last day of the respective Scheduled Delivery Week or
                  the respective Readiness Date of such Aircraft (in all cases
                  whichever of such dates has been established and, most closely
                  fixes the date upon which delivery of the Aircraft was to
                  occur), Bombardier may terminate this Agreement with respect
                  to such Aircraft by giving written notice to Buyer within
                  thirty (30) business days after the expiration of such twelve
                  (12) month period.

13.3     [***] as a result of an Excusable Delay, [***]case Bombardier's sole
         liability and responsibility shall be limited to[***], less any amount
         due by Buyer to Bombardier. Such [***] shall be paid by wire transfer
         of immediately available funds within five (5) business days after any
         such termination.

13.4     Termination under Article 13.2 shall discharge all obligations and
         liabilities of Buyer and Bombardier hereunder and under the applicable
         Supplement with respect to such delayed Aircraft , except that
         Bombardier shall promptly repay to Buyer and Bombardier's sole
         liability and responsibility shall be limited to the repayment to Buyer
         of all deposits and advance payments applicable to such Aircraft on the
         same basis as if such terminated Aircraft had been delivered to Buyer,
         and (regardless of whether any such deposits or advance payments
         received by Bombardier have been characterized as "non-refundable").
         Such repayment shall be paid by wire transfer of immediately available
         funds within five (5) business days after the applicable termination.

13.5     The termination rights set forth in Article 13.2 are the exclusive
         remedy for and in substitution for any and all other rights and
         remedies of Buyer in connection with Excusable Delays.

13.6     In determining the Aircraft Purchase Price for an Aircraft the delivery
         of which is delayed due to Excusable Delay, [***]

Schedules to MPA 497                               Initials:
Mesa Air Group                         34          Buyer_______Bombardier_______
<PAGE>   35
ARTICLE 14  -  NON-EXCUSABLE DELAY

14.1     If delivery of the Aircraft is delayed by causes (i) not excused under
         Article 13.1 or (ii) not resulting from an event described in Article
         7.5, (a "Non-Excusable Delay"), Bombardier shall pay as Buyer's
         exclusive remedy (subject to Articles 14.3 and 16.3) for each such
         delay, as liquidated damages and not as a penalty for each day
         Bombardier is late with tendering any of the Aircraft for inspection
         and acceptance pursuant to Article 9.1 of this Agreement, the amount as
         set forth in the applicable Supplement for each day of Non-Excusable
         Delay in excess of a grace period of such number of days as set forth
         in the applicable Supplement [***], to a maximum of the amount set
         forth in the applicable Supplement for any such delayed Aircraft.
         Payment of the liquidated damages will be by credit memorandum (the
         amount of which shall be applied, at Buyer's election, to reduce the
         Aircraft Purchase Price or to be used for the purchase of Bombardier
         goods and services) [***] within five (5) business days of actual
         delivery of the applicable Aircraft or Buyer's termination of this
         Agreement and the applicable Supplement with respect to such Aircraft,
         as applicable.

         In the event Buyer terminates this Agreement with respect to any
         Aircraft in accordance with Article 14.3 Bombardier will pay to Buyer,
         within five (5) business days of such termination, the liquidated
         damages provided for in this Article 14.1 and the applicable Supplement
         up to the maximum amounts provided for therein in respect of the
         Aircraft whose delivery has been delayed, calculated from the last day
         of the respective Scheduled Delivery Month, last day of the respective
         Scheduled Delivery Week or the respective Readiness Date of such
         Aircraft (in all cases whichever of such dates has been established
         and, most closely fixes the date upon which delivery of the Aircraft
         was to occur) to the date of termination of this Agreement by Buyer.
         [***]

14.2     THE LIQUIDATED DAMAGES PAYABLE IN ACCORDANCE WITH ARTICLE 14.1, BUYER'S
         RIGHT OF TERMINATION UNDER ARTICLE 14.3 AND BUYER'S RIGHTS UNDER
         ARTICLE 16.3 CONSTITUTE BUYER'S EXCLUSIVE REMEDY AND RIGHT FOR
         NON-EXCUSABLE DELAYS, INCLUDING A COMPLETE FAILURE TO DELIVER, FOR ANY
         REASON WHATSOEVER. BUYER WAIVES, RELEASES AND RENOUNCES ALL OTHER
         CLAIMS, RIGHTS AND REMEDIES, AT LAW OR IN EQUITY, WHETHER BASED ON
         CONTRACT (INCLUDING, WITHOUT LIMITATION WARRANTY), TORT (WHETHER OR NOT
         ARISING FROM THE ACTIVE, PASSIVE OR IMPUTED NEGLIGENCE OF BOMBARDIER)
         OR THE STRICT PRODUCTS LIABILITY OF BOMBARDIER OR OTHERWISE, INCLUDING
         WITHOUT LIMITATION, FOR (a) ANY COSTS INCURRED BY BUYER IN SECURING
         TEMPORARY OR

Schedules to MPA 497                               Initials:
Mesa Air Group                         35          Buyer_______Bombardier_______
<PAGE>   36
         PERMANENT REPLACEMENT AIRCRAFT, (b) ANY FINANCING, TAX, PERSONNEL,
         FACILITY OR OTHER COSTS OR DAMAGES INCURRED BY BUYER RELATING TO
         DELIVERY OR NON-DELIVERY OF SUCH AIRCRAFT, INCLUDING BUT NOT LIMITED TO
         EXPENSES FOR PILOT AND GROUND CREW TRAINING, MAINTENANCE FACILITIES,
         SCHEDULING AND PILOT TIME, OR (c) ANY INCIDENTAL OR CONSEQUENTIAL
         DAMAGES, INCLUDING WITHOUT LIMITATION LOSS OF USE, LOSS OF REVENUE OR
         LOSS OF PROFIT.

14.3     Any right Buyer might otherwise have to refuse to accept delivery of an
         Aircraft when offered by Bombardier for inspection and acceptance
         following a Non-Excusable Delay is included within the rights and
         remedies for which the liquidated damages provided pursuant to Article
         14.1, the rights provided in this Article 14.3 and Buyer's rights under
         Article 16.3 are the exclusive right and remedy. Buyer will not have
         the right to refuse to take delivery of any Aircraft because of a
         Non-Excusable Delay unless and until the aggregate duration of the
         Non-Excusable Delay for such Aircraft calculated from the Readiness
         Date, [***] Upon such termination, Bombardier shall pay to Buyer,
         within five (5) business days of the date of termination, the amounts
         payable pursuant to Article 14.1.

         If, no such notice having been given, Bombardier offers an Aircraft for
         inspection and acceptance and Buyer refuses to take delivery of such
         Aircraft because of Non-Excusable Delay, Buyer will be deemed to have
         terminated this Agreement and the applicable Supplement as to such
         Aircraft. Buyer shall, effective upon any such termination, be entitled
         to recover from Bombardier, as liquidated damages and not as a penalty
         the amounts payable pursuant to Article 14.1. [***]

14.4     In determining the Aircraft Purchase Price for an Aircraft the delivery
         of which is delayed due to Non-Excusable Delay, [***]

Schedules to MPA 497                               Initials:
Mesa Air Group                         36          Buyer_______Bombardier_______
<PAGE>   37
ARTICLE 15  -  LOSS OR DAMAGE

15.1     In the event that, prior to actual delivery, any Aircraft is lost,
         destroyed, or damaged beyond economic repair for reasons of Excusable
         Delay, and consequently cannot be delivered as provided in this
         Agreement and the applicable Supplement, Buyer shall have the right to
         either:

         (a)      obtain the next available delivery position in which a
                  replacement aircraft could be manufactured according to the
                  Specification consistent with Bombardier's other contractual
                  commitments and production schedule in which case the
                  Aircraft's Base Price and all applicable credits and charges
                  shall be escalated [***] or

         (b)      terminate this Agreement and the applicable Supplement with
                  respect to the Aircraft (which Aircraft is so lost, destroyed,
                  or damaged beyond economic repair) and receive a refund of all
                  deposits and advance payments made pursuant to this Agreement
                  and the applicable Supplement in respect of such Aircraft, as
                  though such Aircraft had been delivered to Buyer and
                  regardless of whether such deposits or advance payments have
                  been characterized as "non-refundable" (such refund shall be
                  paid by Bombardier to Buyer by wire transfer of immediately
                  available funds within five (5) business days after Buyer's
                  termination notice). Thereafter, all obligations and
                  liabilities of Buyer and Bombardier hereunder with respect to
                  such Aircraft and all related undelivered items and services
                  shall be discharged [***]

15.2     In the event that, prior to actual Delivery, any Aircraft is lost,
         destroyed, or damaged beyond economic repair for any reason other than
         reasons of Excusable Delay, and consequently cannot be delivered as
         provided in this Agreement, Buyer shall have the right to either:

         (a)      obtain the next available delivery position consistent with
                  Bombardier's other contractual obligations in which a
                  replacement aircraft could be manufactured according to the
                  Specification [***]

         (b)      terminate this Agreement and the applicable Supplement with
                  respect to the Aircraft (which Aircraft is so lost, destroyed,
                  or damaged beyond economic repair) and receive the amounts
                  payable pursuant to Article 14.1. (Such amounts shall be paid
                  by Bombardier to Buyer by wire transfer of immediately
                  available funds within two (2) business days after Buyer's
                  termination notice).

Schedules to MPA 497                               Initials:
Mesa Air Group                         37          Buyer_______Bombardier_______
<PAGE>   38

ARTICLE 16  -  TERMINATION

16.1     Any Supplement and this Agreement as it relates thereto may be
         terminated, in whole or in part, with respect to any or all of the
         undelivered Aircraft governed by such Supplement by Bombardier or Buyer
         by notice of termination to the non-terminating party upon the
         occurrence of any of the following events with respect to the
         non-terminating party:

         (a)      the non-terminating party makes a general assignment of all or
                  substantially all of its assets for the benefit of creditors,
                  becomes insolvent or admits in writing its inability to pay
                  its debts as they become due ceases to pay its debts as they
                  become due [***]or the other party ceases doing business as a
                  going concern or suspends all or substantially all of its
                  business operations; or

         (b)      a receiver or trustee is appointed for the non-terminating
                  party or for substantially all of such party's assets and, if
                  appointed without such party's consent, such appointment is
                  not discharged or stayed within sixty (60) calendar days
                  thereafter; or

         (c)      proceedings or action under any law relating to bankruptcy,
                  insolvency or the reorganization, dissolution, liquidation or
                  relief of debtors are instituted by or against the
                  non-terminating party, and, if contested by such party, are
                  not dismissed or stayed within [***] calendar days thereafter;
                  or

         (d)      any writ of attachment or execution or any similar process is
                  issued or levied against the non-terminating party or any
                  significant part of its property and is not released, stayed,
                  bonded or vacated within [***] calendar days after its issue
                  or levy.

16.2     In addition, any Supplement and this Agreement as it relates thereto
         may be terminated, in whole or in part, with respect to any or all
         undelivered Aircraft governed by the applicable Supplement:

         (a)      as otherwise provided in this Agreement or the applicable
                  Supplement; or

         (b)      by Bombardier, if Buyer is in default or breach of any
                  material term or condition of this Agreement or the applicable
                  Supplement and Buyer does not cure such default or breach
                  within [***] calendar days after receipt of notice from
                  Bombardier specifying such default or breach; or

         (c)      by Buyer, if Bombardier is in default or breach of any
                  material term or condition of this Agreement or the applicable
                  Supplement and Bombardier

Schedules to MPA 497                               Initials:
Mesa Air Group                         38             Buyer_____ Bombardier_____

<PAGE>   39
         does not cure such default or breach within [***] calendar days after
         receipt of a notice from Buyer specifying such default or breach.

16.3     In case of termination of this Agreement and the applicable Supplement
         under Articles 5.2 or 9.9, or by Bombardier pursuant to Articles 16.1
         or 16.2:

         (a)      all rights (including property rights), if any, which Buyer or
                  its assignee may have or may have had in or to this Agreement
                  and the applicable Supplement with regard to any or all of the
                  undelivered Aircraft governed by such Supplement shall become
                  null and void with immediate effect;

         (b)      Bombardier may sell, lease or otherwise dispose of such
                  undelivered Aircraft to another party free of any claim by
                  Buyer; and

         (c)    all amounts paid by Buyer with respect to the applicable
                undelivered Aircraft governed by the applicable Supplement shall
                be retained by Bombardier and shall be applied against the
                reasonable costs, expenses, losses and damages incurred by
                Bombardier as a result of Buyer's default and/or the termination
                of this Agreement and the applicable Supplement [***] Buyer
                hereby acknowledges and recognizes that Bombardier shall have
                [***] to recover from Buyer such costs, expenses, losses and
                damages ("Losses"). Bombardier shall, as soon as reasonably
                possible, return to Buyer any such deposits and amounts paid by
                Buyer retained pursuant to this Section 16.3(c) which are [***]

                [***]

                [***]

                [***]

                [***]

         d)       In the event of termination by Buyer due to Bombardier's
                  breach, Bombardier shall pay to Buyer, by wire transfer of
                  immediately available funds within five (5) business days of
                  such termination, all deposits and advance payments paid by
                  Buyer and then held by Bombardier,[***] In the event of the
                  termination of the entire Agreement by Buyer pursuant to the
                  provisions of Article 14 or, in the event a material breach by
                  Bombardier of the Agreement other than in respect of the
                  matters addressed in Article 14, which has a material adverse
                  impact on Buyer in respect of the fundamental economics of the
                  transaction taken in its entirety, [***]

Schedules to MPA 497                               Initials:
Mesa Air Group                         39             Buyer_____ Bombardier_____
<PAGE>   40

ARTICLE 17  -  NOTICES

17.1     Any notice, request, approval, permission, consent or other
         communication ("Notice"), to be given or required under this Agreement
         or a Supplement shall be provided in writing, by hand, registered mail,
         courier, facsimile, or other electronic communication providing
         reasonable proof of transmission, except that no notice shall be sent
         by mail if disruption of postal service is known by the sending party
         to exist or to be threatened either in the country of origin or of
         destination, by the party giving the Notice and shall be addressed as
         follows:

         (a)    Notices to Bombardier shall be addressed to:

                Bombardier Inc.
                Bombardier Aerospace, Regional Aircraft
                123 Garratt Boulevard
                Downsview, Ontario
                Canada

                M3K 1Y5

                Attention:     Director of Contracts

                Facsimile:     (416) 375-4533

         (b)    Notices to Buyer shall be addressed to:

                Mesa Air Group, Inc.
                410 N. 44th St., Suite 700
                Phoenix, AZ 85008

                Attention:  Vice President of Planning

                Facsimile:     (602) 685-4352

17.2     Notice given in accordance with Article 17.1 shall be deemed
         sufficiently given to and received by the addressees:

         (a)      if delivered by hand, on the day when the same shall have been
                  so delivered; or

         (b)      if mailed or sent by courier on the day indicated on the
                  corresponding acknowledgment of receipt; or

Schedules to MPA 497                               Initials:
Mesa Air Group                         40             Buyer_____ Bombardier_____
<PAGE>   41

         (c)      if sent by facsimile on the day indicated by the
                  acknowledgment or the answer back of the receiver in provable
                  form.

ARTICLE 18  -  INDEMNITY AGAINST PATENT INFRINGEMENT

18.1     In the case of any actual or alleged infringement of any Canadian or
         United States patent or, subject to the conditions and exceptions set
         forth below, any patent issued under the laws of any other country in
         which Buyer from time to time may lawfully operate the Aircraft ("Other
         Patents"), by the Aircraft, or by any system, accessory, equipment or
         part installed in such Aircraft at the time title to such Aircraft
         passes to Buyer, Bombardier shall indemnify, protect and hold harmless
         Buyer from and against all claims, suits, actions, liabilities, damages
         and costs resulting from the infringement, excluding any incidental or
         consequential damages (which include without limitation loss of revenue
         or loss of profit) and Bombardier shall, at its option and expense:

         (a)      procure for Buyer the right under such patent to use such
                  system, accessory, equipment or part without charge to Buyer;
                  or

         (b)      replace such system, accessory, equipment or part with one of
                  the similar nature and quality that is non-infringing; or

         (c)      modify such system, accessory, equipment or part to make same
                  non-infringing in a manner such as to keep it otherwise in
                  compliance with the requirements of this Agreement.

         Bombardier's obligation hereunder shall extend to Other Patents only if
         from the time of design of the Aircraft, system, accessory, equipment
         or part until the alleged infringement claims are resolved:

         (d)      in such other country and the country in which the Aircraft is
                  permanently registered have ratified and adhered to and are at
                  the time of the actual or alleged infringement contracting
                  parties to the Chicago Convention on International Civil
                  Aviation of December 7, 1944 and are fully entitled to all
                  benefits of Article 27 thereof; and

         (e)      in such other country and the country of registration shall
                  each have been a party to the International Convention for the
                  Protection of Industrial Property (Paris Convention) or have
                  enacted patent laws which recognize and give adequate
                  protection to inventions made by the nationals of other
                  countries which have ratified, adhered to and are contracting
                  parties to both of the forgoing conventions.

         18.2     The foregoing indemnity does not apply to BFE, or to avionics,
                  engines or any system, accessory, equipment or part that was
                  not manufactured to

Schedules to MPA 497                               Initials:
Mesa Air Group                         41             Buyer_____ Bombardier_____
<PAGE>   42

                  Bombardier's detailed design or to any system, accessory,
                  equipment or part manufactured by a third party to
                  Bombardier's detailed design without Bombardier's
                  authorization.

18.3     Buyer's remedy and Bombardier's obligation and liability under this
         Article are conditional upon (i) Buyer giving Bombardier written notice
         within ten (10) days after Buyer receives notice of a suit or action
         against Buyer alleging infringement or within twenty (20) days after
         Buyer receives any other written claim of infringement (ii) Buyer uses
         reasonable efforts in full cooperation with Bombardier to reduce or
         mitigate any such expenses, damages, costs or royalties involved, and
         (iii) Buyer furnishes promptly to Bombardier copies of all data, papers
         and records in its possession or control necessary or useful to resist
         and defend against such claim or suit and requested by Bombardier.
         Bombardier may at its option conduct negotiations with any party
         claiming infringement and may intervene in any suit or action. Whether
         or not Bombardier intervenes, Bombardier shall be entitled at any stage
         of the proceedings to assume or control the defense provided in doing
         so that Bombardier also assumes all costs and expenses (including
         reasonable attorneys fees) associated with such defense. Buyer's remedy
         and Bombardier's obligation and liability are further conditional upon
         Bombardier's prior approval of Buyer's payment or assumption of any
         liabilities, expenses, damages, royalties or costs for which Bombardier
         may be held liable or responsible.

18.4     THE INDEMNITY, OBLIGATIONS AND LIABILITIES OF BOMBARDIER AND REMEDIES
         OF BUYER SET OUT IN THIS ARTICLE ARE EXCLUSIVE AND ACCEPTED BY BUYER TO
         BE IN LIEU OF AND IN SUBSTITUTION FOR, AND BUYER HEREBY WAIVES,
         RELEASES AND RENOUNCES, ALL OTHER INDEMNITIES, OBLIGATIONS AND
         LIABILITIES OF BOMBARDIER AND OF ITS AFFILIATES AND ALL OTHER RIGHTS,
         REMEDIES AND CLAIMS, INCLUDING CLAIMS FOR DAMAGES, DIRECT, INCIDENTAL
         OR CONSEQUENTIAL, OF BUYER AGAINST BOMBARDIER AND ITS AFFILIATES
         EXPRESS OR IMPLIED, ARISING BY LAW OR OTHERWISE, WITH RESPECT TO ANY
         ACTUAL OR ALLEGED PATENT INFRINGEMENT BY THE AIRCRAFT OR ANY INSTALLED
         SYSTEM, ACCESSORY, EQUIPMENT OR PART.

ARTICLE 19  -  LIMITATION OF LIABILITY AND INDEMNIFICATION

19.1     BOMBARDIER SHALL HAVE NO OBLIGATION OR LIABILITY (AT LAW OR IN EQUITY),
         WHETHER ARISING IN CONTRACT (INCLUDING WITHOUT LIMITATION, WARRANTY),
         IN TORT

Schedules to MPA 497                               Initials:
Mesa Air Group                         42             Buyer_____ Bombardier_____
<PAGE>   43

         (INCLUDING THE ACTIVE, PASSIVE OR IMPUTED NEGLIGENCE OR STRICT PRODUCTS
         LIABILITY OF BOMBARDIER OR ITS AFFILIATES), OR OTHERWISE, FOR LOSS OF
         USE, REVENUE OR PROFIT OR FOR ANY OTHER INDIRECT, INCIDENTAL,
         CONSEQUENTIAL OR PUNITIVE DAMAGES OF ANY KIND OR WHATSOEVER.

19.2     [***] ANNEX B HERETO EXCLUSIVELY SETS FORTH BOMBARDIER'S POST DELIVERY
         OBLIGATIONS WITH RESPECT TO ANY NON-CONFORMANCE OF THE AIRCRAFT WITH
         THE SPECIFICATION OR ANY DEFECT IN THE AIRCRAFT.

         [***] THERE ARE NO UNDERSTANDINGS, REPRESENTATIONS, CONDITIONS OR
         WARRANTIES, EXPRESS OR IMPLIED, BETWEEN THE PARTIES WITH RESPECT TO ANY
         NON-CONFORMANCE OF THE AIRCRAFT WITH THE SPECIFICATION OR ANY DEFECT IN
         THE AIRCRAFT OR ANY DEFECT IN ANY OTHER THING DELIVERED UNDER THIS
         AGREEMENT.

19.3     THE WARRANTY AND SERVICE LIFE POLICY PROVIDED IN ANNEX B TO THIS
         AGREEMENT AND THE OBLIGATIONS AND LIABILITIES OF BOMBARDIER UNDER THE
         AFORESAID WARRANTY AND SERVICE LIFE POLICY ARE ACCEPTED BY BUYER TO BE
         EXCLUSIVE AND IN LIEU OF, AND BUYER HEREBY WAIVES, RELEASES AND
         RENOUNCES ALL OTHER REMEDIES, WARRANTIES, GUARANTEES, OBLIGATIONS,
         REPRESENTATIONS OR LIABILITIES, EXPRESS OR IMPLIED, OF BOMBARDIER AND
         ITS AFFILIATES WITH RESPECT TO DEFECTS IN EACH AIRCRAFT OR PART
         THEREOF, PRODUCT, DOCUMENT OR SERVICE DELIVERED OR PROVIDED UNDER THIS
         AGREEMENT, ARISING IN FACT, IN LAW, IN CONTRACT, IN TORT, OR OTHERWISE,
         INCLUDING, WITHOUT LIMITATION,

         A.       ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS OR ANY
                  IMPLIED CONDITION;

         B.       ANY IMPLIED WARRANTY OR CONDITION ARISING FROM COURSE OF
                  PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE;

         C.       ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY IN TORT,
                  WHETHER OR NOT ARISING FROM THE ACTIVE, PASSIVE OR IMPUTED
                  NEGLIGENCE OF BOMBARDIER OR

Schedules to MPA 497                               Initials:
Mesa Air Group                         43             Buyer_____ Bombardier_____
<PAGE>   44
                  ITS AFFILIATES, BY REASON OF THE DESIGN, MANUFACTURE, SALE,
                  REPAIR, LEASE OR USE OF THE AIRCRAFT OR PRODUCT AND SERVICES
                  DELIVERED UNDER THIS AGREEMENT; AND

         D.       ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY FOR LOSS OF
                  OR DAMAGE TO ANY AIRCRAFT, ANY BOMBARDIER PARTS, ANY POWER
                  PLANT PARTS, ANY VENDOR PARTS, ANY SPARE PARTS OR ANY
                  TECHNICAL DATA.

19.4     BUYER HEREBY RELEASES AND AGREES TO DEFEND, INDEMNIFY AND HOLD HARMLESS
         BOMBARDIER, ITS SUBSIDIARIES, AFFILIATES, SUBCONTRACTORS AND LESSORS,
         AND THEIR RESPECTIVE EMPLOYEES, DIRECTORS, OFFICERS AND AGENTS, AND
         EACH OF THEM, FROM AND AGAINST ALL LIABILITIES, CLAIMS, DAMAGES,
         LOSSES, COSTS AND EXPENSES FOR LOSS OF OR DAMAGE TO PROPERTY INCLUDING
         ANY AIRCRAFT, AND LOSS OF USE THEREOF, OR INJURIES TO OR DEATH OF ANY
         AND ALL PERSONS (INCLUDING BUYER'S DIRECTORS, OFFICERS, AGENTS AND
         EMPLOYEES BUT EXCLUDING BOMBARDIER'S OR ANY OF BOMBARDIER'S AFFILIATES'
         INDIRECTLY OUT OF OR IN CONNECTION WITH ANY AIRCRAFT OR PART THEREOF,
         PRODUCT, DOCUMENT OR SERVICE DELIVERED OR PROVIDED UNDER THIS AGREEMENT
         WHETHER OR NOT CAUSED BY THE ACTIVE, PASSIVE OR IMPUTED NEGLIGENCE OR
         STRICT PRODUCTS LIABILITY OF BOMBARDIER, ITS SUBSIDIARIES, AFFILIATES,
         SUBCONTRACTORS AND LESSORS, OR THE EMPLOYEES, DIRECTORS, OFFICERS AND
         AGENTS OF ANY OF THEM.

         [***]

Schedules to MPA 497                               Initials:
Mesa Air Group                         44             Buyer_____ Bombardier_____
<PAGE>   45

ARTICLE 20  -  ASSIGNMENT

20.1     Either party may assign, sell, transfer or dispose of (in whole or in
         part) any of its rights and obligations hereunder [***] to a wholly
         owned subsidiary or, in case of Buyer, affiliate [***] to which Buyer
         assigns its America West Express operating obligations, provided that
         there is no increase in the liability and/or responsibility of the
         non-assigning party and that the assigning party remains jointly and
         severally liable with any assignee for the performance of its
         obligation under this Agreement. In addition, Buyer shall have the
         right to sell, lease, sublease, assign, transfer, convey or dispose of
         any or all of the Aircraft and retain or pass through any or all of the
         rights, benefits and obligations (including, without limitation, those
         pertaining to warranties) provided for in this Agreement [***] without
         the prior written consent of Bombardier to any financial institution or
         other lender or entity involved in financing the Aircraft for, or
         leasing the Aircraft to, Buyer, provided in each case that, (i) Buyer
         shall remain jointly and severally liable with the assignee for the
         performance of its obligations under this Agreement and (ii) there is
         no increase in liability and/or responsibility of Bombardier.

20.2     Except as provided in Article 20.1, Buyer shall not assign, sell,
         transfer or dispose of (in whole or in part) any of its rights or
         obligations hereunder [***] without Bombardier's prior written consent,
         such consent not to be unreasonably withheld. In the event of such
         assignment, sale, transfer or disposition Buyer shall remain jointly
         and severally liable with any assignee for the performance of all and
         any of Buyer's obligations under this Agreement and Bombardier reserves
         the right as a condition of its consent to require a reasonable
         amendment of one or more of the terms and conditions of this Agreement
         and (including for more certainty) the applicable Supplement.

20.3     Notwithstanding Article 20.2 above, Buyer may assign, after transfer of
         title of the Aircraft, its rights under this Agreement, save and except
         for any rights of Buyer which are expressly stated to be personal to
         Buyer, to a third party purchaser of any one of the Aircraft, provided
         said third party acknowledges in writing to be bound by the applicable
         terms and conditions of this Agreement and provided that there is no
         increase to the liability and/or responsibility of Bombardier.

20.4     Bombardier may assign any of its rights to receive money hereunder
         without the prior consent of Buyer.

20.5     Notwithstanding the other provisions of this Article 20, Bombardier
         shall, at Buyer's cost and expense, if so requested in writing by
         Buyer, take any action reasonably required for the purpose of causing
         any of the Aircraft to be subjected (i) to, after the Delivery Date, an
         equipment trust, conditional sale or lien, or (ii) to another
         arrangement for the financing of the Aircraft by Buyer,

Schedules to MPA 497                               Initials:
Mesa Air Group                         45             Buyer_____ Bombardier_____
<PAGE>   46
         provided, however, there shall be no increase to the liability and/or
         responsibility of Bombardier arising through such financing.

ARTICLE 21  -  SUCCESSORS

21.1     This Agreement shall inure to the benefit of and be binding upon each
         of Bombardier and Buyer and their respective successors and permitted
         assignees.

ARTICLE 22  -  APPLICABLE LAWS

22.1     THIS AGREEMENT AND (INCLUDING FOR MORE CERTAINTY) SUPPLEMENTS HERETO
         SHALL BE SUBJECT TO AND CONSTRUED IN ACCORDANCE WITH AND THE RIGHTS OF
         THE PARTIES SHALL BE GOVERNED BY [***], EXCLUDING THE CHOICE OF LAW
         RULES WHICH WOULD APPLY THE LAWS OF ANOTHER JURISDICATION, AND THE
         PARTIES HAVE AGREED THAT THE APPLICATION OF THE UNITED NATIONS
         CONVENTION ON CONTRACTS FOR THE INTERNATIONAL SALE OF GOODS IS HEREBY
         EXCLUDED.

22.2     Bombardier's obligations under this Agreement shall be subject to and
         apply only to the extent permitted by applicable laws, regulations,
         directives and/or orders regarding export controls.

ARTICLE 23  -  CONFIDENTIAL NATURE OF AGREEMENT

23.1     This Agreement including any Supplements hereto are confidential
         between the parties and shall not, without the prior written consent of
         the other party, be disclosed by either party in whole or in part to
         any other person or body except as may be necessary for either party to
         carry out its obligations under this Agreement.

         Except as set forth below, each party shall hold confidential and shall
         not reproduce any technical data or information supplied by or on
         behalf of the other party or divulge the same to any third party
         without the prior written consent of the other party (which consent
         shall not be unreasonably delayed or withheld). Except as set forth
         below, neither party will disclose the Evaluation Materials (as defined
         below) to any third party without the prior written consent of the
         other Party (which consent shall not be unreasonably withheld or
         delayed). The term "Evaluation Materials" shall mean and include the
         respective (i) data, reports, interpretations, forecasts, records,
         statements and documents in each case in written, documentary, computer
         or electronic form of any kind to the extent they contain information
         concerning Bombardier or Buyer, as the case may be, which is not
         available to the general public and

Schedules to MPA 497                               Initials:
Mesa Air Group                         46             Buyer_____ Bombardier_____
<PAGE>   47

         which the other party or its representatives (including its affiliates,
         directors, officers, employees, agents and advisors (including
         attorneys, accountants, consultants, bankers and financial advisers of
         the party) ("Representatives")) provide or have provided, to the
         recipient (the "Recipient") or any of its Representatives for the
         purposes of the transactions contemplated by this Agreement (the
         "Transactions") and (ii) information, reports, analyses, compilations,
         studies, interpretations, forecasts, records or other material prepared
         by the Recipient in each case in written, documentary, computer or
         electronic form containing, in whole or any part, any Evaluation
         Materials. Evaluation Materials may be disclosed to the Representatives
         of the Recipient who need to know the information for the purposes of
         evaluating and analyzing the Transaction, it being understood that they
         will be advised by the Recipient of the confidential nature of such
         information and that by receiving such information they are agreeing to
         be bound by the terms of this Article 23.

23.2     Except as may be reasonably required for the normal operation,
         maintenance, overhaul and repair of the Aircraft, Buyer shall hold
         confidential all technical data and information supplied by or on
         behalf of Bombardier. Buyer shall not reproduce any technical data or
         information or divulge the same to any third party without the prior
         written consent of Bombardier.

23.3     Either party may announce the signing of this Agreement by means of a
         notice to the press provided that the content and date of the notice
         has been agreed to by the other party.

23.4     In the event Buyer now or hereafter has a class of securities
         registered under Section 12(b) or 12(g) of the Securities Exchange Act
         of 1934, as amended (the "Exchange Act"), or is subject to the
         reporting requirements of Section 15(d) thereof, or Buyer proposes to
         effect an offering of securities registered under the Securities Act of
         1933, as amended (the "Securities Act"), and in any such case, Buyer
         reasonably determines, based upon the advice of counsel that this
         Agreement or a Supplement hereto is a "material contract" as described
         in Item 601 of Regulations S-K, and is required to be filed as an
         exhibit to a registration statement under the Securities Act or a
         periodic report under the Exchange Act, Buyer shall notify Bombardier,
         by written notice, at least thirty (30) days prior to the date of such
         anticipated filing of such determination and the reasons therefor, and
         shall use its reasonable efforts to work with Bombardier to prepare and
         file with the Securities and Exchange Commission (the "Commission") a
         request for confidential treatment pursuant to Rule 24b-2 under the
         Exchange Act or Rule 406 under the Securities Act, as the case may be,
         with respect to information in this Agreement, and such other
         information as Bombardier may reasonably request.

         Subject to compliance with the foregoing, and notwithstanding the other
         provisions of this Article, this Agreement and the Supplements hereto
         may be

Schedules to MPA 497                               Initials:
Mesa Air Group                         47             Buyer_____ Bombardier_____
<PAGE>   48
         filed as exhibits to such registration statement or periodic report to
         the extent required by the Commission and such filing shall not
         constitute a breach hereof by Buyer. Any of the information that is
         required to be kept confidential pursuant to the provisions of Articles
         23.1 and 23.2 (the "Confidential Information") may be disclosed to the
         extent such information is information that (a) at the time of the
         disclosure is publicly available or becomes publicly available through
         no act or omission of the party having a confidentiality obligation
         under this Agreement, (b) may be reasonably necessary for either party
         to carry out its obligations or enforce its rights under this
         Agreement, (c) is independently and lawfully acquired or developed by
         such disclosing party, (d) is disclosed despite the exercise of
         reasonable care which shall be at least the same degree of care as such
         party takes to safeguard comparable confidential information of its
         own, (e) is required to be disclosed for the operation, maintenance,
         overhaul or repair of the Aircraft provided the recipient agrees to
         hold same in confidence and to use same only for the purposes stated
         above, (f) is required to be disclosed by Buyer by any lending or
         financial institution or leasing company or other participant in any
         equipment trust, conditional sale, lease, security agreement, chattel
         mortgage or other arrangement for the financing or use of the Aircraft
         by Buyer or for the financing of any of Buyer's obligations under this
         Agreement, (g) is disclosed as required by court order or as otherwise
         required by law (including federal securities laws), on the condition
         that prompt notice of the requirement for such disclosure is given to
         the other party prior to making any disclosure unless impossible (this
         phrase only applies with respect to this subsection (g)), (h) as may be
         reasonably required by Bombardier for purposes of analytical or
         technical product support, improvement or enhancement of customer
         support services, (i) is disclosed to independent auditors, accountants
         or attorneys of the disclosing party who shall be advised of the
         confidential nature of same, or (j) is disclosed to the disclosing
         Party by a third party that did not acquire the information under an
         obligation of confidentiality. This Article shall survive until the
         latter of (i) the complete performance by Buyer of its obligation
         hereunder or (ii) two (2) years from February 5, 2001.

Schedules to MPA 497                               Initials:
Mesa Air Group                         48             Buyer_____ Bombardier_____
<PAGE>   49

ARTICLE 24  -  AGREEMENT

24.1     This Agreement and the matters referred to herein constitute the entire
         agreement between Bombardier and Buyer with respect to the Bombardier
         products governed by the applicable Supplements and supersede and
         cancel all prior representations, brochures, alleged warranties,
         statements, negotiations, undertakings, letters, memoranda of
         agreement, proposals, acceptances, agreements, understandings,
         contracts and communications, whether oral or written, between
         Bombardier and Buyer or their respective agents, with respect to or in
         connection with the subject matter of this Agreement and any matters
         ancillary thereto and no agreement or understanding varying the terms
         and conditions hereof shall be binding on either Bombardier or Buyer
         hereto unless an amendment to this Agreement is issued and duly signed
         by their respective authorized representatives. In the event of any
         inconsistencies between this Agreement and a Supplement or other
         documents referred to herein, the provisions of the Supplement shall
         prevail.

24.2     If any of the provisions of this Agreement are for any reason declared
         by judgment of a court of competent jurisdiction to be unenforceable or
         ineffective, those provisions shall be deemed severable from the other
         provisions of this Agreement and the remainder of this Agreement shall
         remain in full force and effect.

24.3     THE BENEFIT OF THE WAIVER, RELEASE, RENUNCIATION AND EXCLUSION OF
         LIABILITY IN EACH OF ARTICLES 12.5, 16, 18.4, 19, [***] EXTENDS ALSO TO
         THE OTHER DIVISIONS, OTHER SUBSIDIARIES, AND OTHER AFFILIATES OF
         BOMBARDIER INC. (COLLECTIVELY THE "BOMBARDIER GROUP") AND TO THE
         OFFICERS, DIRECTORS, EMPLOYEES AND REPRESENTATIVES OF THE BOMBARDIER
         GROUP, ON WHOSE BEHALF AND FOR WHOSE BENEFIT BOMBARDIER IS, FOR
         PURPOSES OF THIS ARTICLE 24.3, ACTING AS AGENT AND TRUSTEE.

24.4     Bombardier and Buyer confirm to each other they have each obtained the
         required authorizations and fulfilled any conditions applicable to
         enable each of them to enter into this Agreement.

24.5     Buyer and Bombardier agree that this Agreement has been the subject of
         discussion and negotiation and is fully understood by the parties
         hereto and that the other mutual agreements of the parties set forth
         herein were arrived at in consideration of the provisions contained in
         Articles 12.5, 16, 18.4, 19, Annex A Article 2.9.4.5 and Annex B
         Article 5.1.

Schedules to MPA 497                               Initials:
Mesa Air Group                         49             Buyer_____ Bombardier_____
<PAGE>   50

In witness whereof this Agreement was signed on the date first set forth above:

For and on behalf of                               For an on behalf of

BUYER                                              BOMBARDIER INC.
                                                   Bombardier Aerospace

                                                   REGIONAL AIRCRAFT

Signed: ______________________                     Signed:______________________

Name:  Jonathan Ornstein                          Name: Anne H. Woodyatt
       Chairman and CEO                           Director of Contracts,
                                                  Americas

Schedules to MPA 497                               Initials:
Mesa Air Group                         50             Buyer_____ Bombardier_____
<PAGE>   51

                                   APPENDIX 1
                                     [***]

[***]
[***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

               [***]

Schedules to MPA 497                               Initials:
Mesa Air Group                         51            Buyer_____ Bombardier_____
<PAGE>   52

                EXHIBIT I TO MASTER PURCHASE AGREEMENT NO. PA 497

                            CERTIFICATE OF ACCEPTANCE

         The undersigned hereby acknowledges on behalf of Buyer that the
         Aircraft bearing manufacturer's serial number ____________________
         fitted with two (2) /General Electric CF-34-3A1/3B1/8C1 turbofan
         engines bearing serial numbers _____________________ and
         __________________ is accepted for all purposes of this Agreement
         signed on the day of , 20 between Bombardier Aerospace, Regional
         Aircraft and Buyer.

         Place:                              Date:
               ________________________             ________________________

         SIGNED FOR AND ON BEHALF OF

         [BUYER'S NAME]

         Per:
                 ________________________

         Title:
                 ________________________

Schedules to MPA 497                               Initials:
Mesa Air Group                         52            Buyer_____ Bombardier_____
<PAGE>   53
               EXHIBIT II TO MASTER PURCHASE AGREEMENT NO. PA 497

                                  BILL OF SALE

1.       FOR VALUABLE CONSIDERATION, BOMBARDIER AEROSPACE, REGIONAL AIRCRAFT,
         OWNER OF THE FULL LEGAL AND BENEFICIAL TITLE OF THE AIRCRAFT DESCRIBED
         AS FOLLOWS:

                  ONE CANADAIR REGIONAL JET MODEL /CL-600-2B19/CL-600-2C10/
                  AIRCRAFT BEARING:

                  MANUFACTURER'S SERIAL NO.:
                       _________________________, WITH:

                  CF34-3A1/3B1/8C1 ENGINES SERIAL
                  NOS.:_________________________, AND

                  AUXILIARY POWER UNIT NO.:
                      __________________________

         DOES THIS      DAY OF      20   HEREBY SELL, GRANT, TRANSFER AND
         DELIVER ALL RIGHT, TITLE AND INTEREST IN AND TO SUCH AIRCRAFT UNTO:
         [BUYER'S NAME].

         BY VIRTUE OF THE EXECUTION OF THIS BILL OF SALE, BOMBARDIER HEREBY
         DIVESTS ITSELF OF ALL ITS RIGHT, TITLE AND INTEREST OF ANY KIND IN THE
         AIRCRAFT, IN FAVOUR OF BUYER.

         BOMBARDIER WARRANTS TO BUYER, ITS SUCCESSORS AND ASSIGNS THAT ON THE
         DATE HEREOF IT IS THE LAWFUL OWNER OF GOOD, VALID AND MARKETABLE TITLE
         IN AND TO THE AIRCRAFT AND HAS GOOD RIGHT TO SELL THE SAME AND THAT
         SUCH TITLE TO THE AIRCRAFT IS ON THE DATE HEREOF FREE AND CLEAR OF ALL
         CLAIMS, LIENS, ENCUMBRANCES AND RIGHTS OF OTHERS OF ANY NATURE
         WHATSOEVER (OTHER THAN THOSE CREATED BY OR THROUGH BUYER) AND THAT
         BOMBARDIER WILL DEFEND SUCH TITLE FOREVER AGAINST SUCH CLAIMS, LIENS,
         ENCUMBRANCES AND RIGHTS OF OTHERS OF ANY NATURE WHATSOEVER (OTHER THAN
         THOSE CREATED BY OR THROUGH BUYER).

         THIS WARRANTY BILL OF SALE, AND THE RIGHTS AND OBLIGATIONS OF THE
         PARTIES HEREUNDER, SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED
         AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK,

Schedules to MPA 497                               Initials:
Mesa Air Group                         53            Buyer_____ Bombardier_____
<PAGE>   54

         INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE.

         BUYER:

         PLACE:                                      TIME:
               __________________                         _________________

         For and on behalf of

         BOMBARDIER INC.
         Bombardier Aerospace, Regional Aircraft

         Per:
               ____________________

         Title:
               ____________________

Schedules to MPA 497                               Initials:
Mesa Air Group                         54            Buyer_____ Bombardier_____
<PAGE>   55

               EXHIBIT III TO MASTER PURCHASE AGREEMENT NO. PA 497

                       CERTIFICATE OF RECEIPT OF AIRCRAFT

         THE UNDERSIGNED HEREBY ACKNOWLEDGES TO HAVE RECEIVED FROM BOMBARDIER
AEROSPACE, REGIONAL AIRCRAFT, AT DORVAL AIRPORT, ADJACENT TO BOMBARDIER'S PLANT
IN DORVAL, PROVINCE OF QUEBEC, CANADA, ON THE _____________ DAY OF
______________ , AT THE HOUR OF _____________ O'CLOCK, ONE (1) / CANADAIR
REGIONAL JET MODEL /CL-600-2B19/CL-600-2C10/ SERIES 100/200/700 AIRCRAFT,
BEARING SERIAL NUMBER ______________, INCLUDING WITH THE AIRCRAFT TWO (2)
/CF34-3A1/3B1/8C1 TURBOFAN ENGINES BEARING MANUFACTURER'S SERIAL NUMBERS
_____________ & __________________ AND OTHER MAJOR REPLACEABLE ACCESSORIES
ATTACHED TO THE AIRCRAFT AND ENGINES.

Signed for and on behalf of
[Buyer's name]:

Per:
    ______________________

Title:
    _________

Schedules to MPA 497                               Initials:
Mesa Air Group                         55            Buyer_____ Bombardier_____
<PAGE>   56

                          EXHIBIT IV TO THIS AGREEMENT

                                  CHANGE ORDER
                                   (PRO FORMA)

                              CONTRACT CHANGE ORDER

PURCHASER:

PURCHASE AGREEMENT NO.:                                           AIRCRAFT TYPE:

C.C.O. NO.:                                                       DATED:

                                                                  PAGE __ of __

REASON FOR CHANGE:

================================================================================

DESCRIPTION OF CHANGE:

ALL OTHER TERMS AND CONDITIONS OF THIS AGREEMENT WILL REMAIN UNCHANGED

FOR ADMINISTRATIVE PURPOSES ONLY, A CONSOLIDATION OF THE AMENDMENTS CONTAINED IN
THIS CCO IS ATTACHED. IN THE EVENT OF INCONSISTENCIES BETWEEN THE CONSOLIDATION
AND THIS CCO, THIS CCO SHALL PREVAIL.

================================================================================

FOR AND ON BEHALF OF:                              FOR AND ON BEHALF OF:

Bombardier Aerospace                               [BUYER]
Regional Aircraft

Signed: _______________________                    Signed: _____________________

Date:     _______________________                  Date:     ___________________

Schedules to MPA 497                               Initials:
Mesa Air Group                         56            Buyer_____ Bombardier_____
<PAGE>   57

                                   SECTION III

                                       OF

                      MASTER PURCHASE AGREEMENT NO. PA 497

                                    SCHEDULES

Schedules to MPA 497                               Initials:
Mesa Air Group                         57            Buyer_____ Bombardier_____
<PAGE>   58

1.0      [***]

2.0      [***]

         2.1      [***]
         2.2      [***]
         2.3      [***]

3.0      [***]
4.0      [***]
5.0      [***]
6.0      [***]

7.0 The financing provided pursuant to this Schedule 1 may not be assigned or
otherwise disposed of by Buyer except (i) to an airline affiliate of Buyer where
Buyer remains liable for the obligations under this Agreement, (ii) by operation
of law through merger with or into another carrier provided that in any event no
Material Adverse Change would result.

Schedules to MPA 497                               Initials:
Mesa Air Group                         58            Buyer_____ Bombardier_____
<PAGE>   59

                                   SCHEDULE 2

                                      [***]

1.0      [***]

         a)    [***]

2.0      [***]

3.0      [***]

4.0      [***]

Schedules to MPA 497                               Initials:
Mesa Air Group                         59            Buyer_____ Bombardier_____
<PAGE>   60
                                   SCHEDULE 3

                   AIRWORTHINESS DIRECTIVES/SERVICE BULLETINS

[***]

[***]

[***]

[***]

Schedules to MPA 497                               Initials:
Mesa Air Group                         60            Buyer_____ Bombardier_____
<PAGE>   61

                             SUPPLEMENT NO. PA-497-1

                                       TO

                      MASTER PURCHASE AGREEMENT NO. PA-497

                                     BETWEEN

                                 BOMBARDIER INC.

                                       AND

                              MESA AIR GROUP, INC.

This Supplement when accepted and agreed to by Mesa Air Group, Inc. (the
"Buyer") will become part of the Master Purchase Agreement No. PA-497 entered
into between BOMBARDIER INC., a Canadian corporation represented by Bombardier
Aerospace, Regional Aircraft having offices at 123 Garratt Boulevard, Downsview,
Ontario, Canada ("Bombardier") and Mesa Air Group, Inc. ("Buyer") dated the 30th
day of April, 2001 (the "Agreement") and will evidence the further agreement of
the parties with respect to the matters set forth herein.

The provisions of the Agreement shall apply to the Bombardier products purchased
and sold in accordance with this Supplement. All capitalized terms herein,
unless defined herein, shall have the same respective meanings given to them in
the Agreement. This Supplement is subject to the provisions of the Agreement,
all of which are incorporated herein, provided that in the event of any
inconsistency between the provision of the Agreement and the provisions of this
Supplement, the latter shall take precedence.

ARTICLE  1.0   SUBJECT MATTER OF SALE

ARTICLE 1 SUPPLEMENTS TO ARTICLE 2 OF THE AGREEMENT

1.1   CRJ 200 Aircraft

      Subject to the provisions of the Agreement and this Supplement, Bombardier
      will sell and Buyer will purchase Twenty (20) firm aircraft model
      CL-600-2B19 Canadair Regional Jet Series 200 aircraft manufactured
      pursuant to Type Specification number RAD-601R-202 issue B dated February
      2000 noted in Annex 1 hereto as same may be modified from time to time in
      accordance with the Agreement and this Supplement (the "Specification") as
      supplemented to reflect the incorporation of the Buyer selected optional
      features ("Buyer Selected Optional Features") set forth in Annex 1 and 2
      hereto. This Supplement shall also apply to all option aircraft model
      CL-600-2B19 Canadair Regional Jet Series 200 aircraft purchased in
      accordance with Annex 3 of this Supplement 1 (the firm

                                       1

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                                                   Initials
                                                     Buyer_____ Bombardier_____
<PAGE>   62

         aircraft and the option aircraft referred to in this Article 1.1
         hereinafter collectively referred to as the "Aircraft").

ARTICLE  2.0      PRICE

ARTICLE 2 SUPPLEMENTS ARTICLE 4 OF THE AGREEMENT.

2.1      (a) The base price for each of the CRJ 200 Aircraft (excluding the
         Buyer Selected Optional Features) Ex Works (Incoterms 2000)
         Bombardier's facilities in Dorval, Quebec is [***]dollars.

         (b) The base price of the Buyer Selected Optional Features for the CRJ
         200 is [***] dollars.

         The Aircraft base price for the CRJ 200 Aircraft shall be the base
         price for the Aircraft as stated in paragraph 2.1 (a), plus the base
         price of the Buyer Selected Optional Features as stated in paragraph
         2.1 (b) ("CRJ 200 Base Price").

2.2      The price of the CRJ 200 Aircraft on the Scheduled Delivery Date shall
         be the CRJ 200 Base Price adjusted for changes made pursuant to Article
         11 (only with respect to those changes for which a price adjustment is
         permitted) of the Agreement and any Non-CRJ Regulatory Changes pursuant
         to Article 8A of the Agreement, and further adjusted to the Delivery
         Date to reflect economic fluctuations during the period from [***] to
         the Delivery Date of each Aircraft ("Aircraft Purchase Price"). Such
         adjustments shall be in accordance [***] and (ii) in the case of a
         Non-Excusable Delay, [***] ; and provided further that when adjusted,
         the Aircraft Purchase Price shall in no case be lower than the CRJ 200
         Base Price, as stipulated in Article 2.1 herein.

                                       2

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<PAGE>   63

ARTICLE  3.0      DELIVERY PROGRAM

ARTICLE 3 SUPPLEMENTS ARTICLE 6 OF THE AGREEMENT.

3.1      The Aircraft set forth in Column 1 shall be offered for inspection and
         acceptance to Buyer at Bombardier's facility in Montreal, Quebec during
         the months set forth in Column 2 (the "Scheduled Delivery Dates").
<TABLE>
<CAPTION>
       COLUMN # 1                         COLUMN # 2
<S>                                       <C>             <C>
       First CRJ 200 Firm Aircraft        [***]           [***]
       Second CRJ 200 Firm Aircraft       [***]           [***]
       Third CRJ 200 Firm Aircraft        [***]           [***]
       Fourth CRJ 200 Firm Aircraft       [***]           [***]
       Fifth CRJ 200 Firm Aircraft        [***]           [***]
       Sixth CRJ 200 Firm Aircraft        [***]           [***]
       Seventh CRJ 200 Firm Aircraft      [***]           [***]
       Eighth CRJ 200 Firm Aircraft       [***]           [***]
       Ninth CRJ 200 Firm Aircraft        [***]           [***]
       Tenth CRJ 200 Firm Aircraft        [***]           [***]
       Eleventh CRJ 200 Firm Aircraft     [***]           [***]
       Twelfth CRJ 200 Firm Aircraft      [***]           [***]
       Thirteenth CRJ 200 Firm Aircraft   [***]           [***]
       Fourteenth CRJ 200 Firm Aircraft   [***]           [***]
       Fifteenth CRJ 200 Firm Aircraft    [***]           [***]
       Sixteenth CRJ 200 Firm Aircraft    [***]           [***]
       Seventeenth CRJ 200 Firm Aircraft  [***]           [***]
       Eighteenth CRJ 200 Firm Aircraft   [***]           [***]
       Nineteenth CRJ 200 Firm Aircraft   [***]           [***]
       Twentieth CRJ 200 Firm Aircraft    [***]           [***]
</TABLE>

                                       3

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                                                   Initials
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<PAGE>   64

ARTICLE  4.0      DELIVERY DELAYS

ARTICLE 4 SUPPLEMENTS ARTICLES 9 AND 14 OF THE AGREEMENT.

4.1      If delivery of the CRJ 200 Aircraft is delayed [***] or by causes not
         excused under Article 13.1 of the Agreement, Bombardier shall pay
         liquidated damages as set forth in Article 9.6 or Article 14, as
         applicable, as calculated therein, in the amount of [***] for each day
         of delay to a maximum of [***] for any such delayed Aircraft.

ARTICLE 4.2 SUPPLEMENTS ARTICLE 14.1 OF THE AGREEMENT.

4.2      The grace period referred to in Article 14.1 of the Agreement is [***]
         business days from the Readiness Date.

                                       4

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                                                   Initials
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<PAGE>   65

ARTICLE  5.0 SPARE PARTS

For a period of [***] years beginning on the date of delivery of the first
Aircraft, Bombardier shall provide to Buyer a discount from the Bombardier Spare
Parts Catalogue list prices for all purchases by Buyer of not less than [***]
below list price.

                                        5

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                                                   Initials
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<PAGE>   66

                                     ANNEX 1

                                  SPECIFICATION

                           NUMBER RAD-601R-202 REV. B

                                  FEBRUARY 2000

                                        6
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                                                   Initials
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<PAGE>   67

                                     ANNEX 2

                        BUYER SELECTED OPTIONAL FEATURES
<TABLE>
<CAPTION>
CR NO.                  ITEM DESCRIPTION
------                  ----------------
<S>            <C>                                                <C>
CR#            TITLE                                              JULY 1/00 USD

00-015         MTOW - 53,000 lb (Long Range Version)              [***]
00-312         Additional Take Off Flap Setting - 8 Deg           [***]
00-313         Certification - FAA (Collins Strapping)            [***]
11-300         Paint Scheme - Complex / Multiple                  [***]
23-350         SELCAL - Single System (Coltec)                    [***]
23-371         Datalink - Provisions For Allied Signal System     [***]
25-03-201      Interior Finish & Decor - Custom Carpets           [***]
25-03-202      Interior Finish & Decor - Custom Curtains          [***]
25-03-203      Interior Finish & Decor - Custom Bulkheads         [***]
25-22-301      PAX Seat - In-Arm Meal Trays In Front Row          [***]
25-22-303      PAX Seat - Leather Dress Covers (25 Seat Pairs)    [***]
25-22-304      PAX Seat - Recline Feature                         [***]
25-23-301      Flight Attendant #2 - Aft Folding Seat With
               Intercom                                           [***]
25-24-301      Entrance Stowage Compartment - Galley Insert
               Provisions                                         [***]
25-31-306      G1 Galley - Stowable Work Shelf                    [***]
25-31-304      G1 Galley - Provisions For Snack & Hot Beverage
               Service                                            [***]
25-34-302      Stowage Unit - ATLAS Std (Qty 9)                   [***]
25-34-303      Trolley - Waste, ATLAS Std Half Size (Qty 1)       [***]
25-34-311      Beverage Maker -ATLAS Std (Tia, Qty 2)             [***]
25-359         Baggage - Temperature Control In Compartment       [***]
31-340         FDR - 128 WPS DFDR (L3Comm)                        [***]
33-003         Lights - Red Beacon                                [***]
34-024         VOR Antennas - Painted                             [***]
34-328         GPWS - Enhanced (Allied  Signal)                   [***]
34-335         FMS - Single, ACARS Compatible (Collins FMS-4200)  [***]
34-350         GPS - Single (Collins GPS-4000)                    [***]
34-360         Radio Altimeter - Second (Collins)                 [***]
34-362         Altimeter - Baro Setting Reminder                  [***]
35-006         Oxygen - PAX Extended Duration Chemical Generator  [***]
38-313         Water -  8 US Gal.Tank                             [***]
79-201         Engine Oil-Remote Replacement System               [***]
21-209         Air Conditioning-Ground Cart Connection            [***]
               3 Headsets

               TOTAL TECHNICAL FEATURES                           [***]
</TABLE>

                                        7
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                                                   Initials
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<PAGE>   68

                                     ANNEX 3

                                 OPTION AIRCRAFT

1.0      Bombardier hereby agrees to grant Buyer the option to purchase an
         additional Twenty (20) CRJ 200 Aircraft as described in Article 1 of
         this Supplement (the "Option Aircraft") for the benefit of Buyer under
         the following general conditions:

         1.1      The price for each of the CRJ 200 Option Aircraft ("CRJ 200
                  Option Aircraft Purchase Price") shall be the [***] but when
                  adjusted, the CRJ 200 Option Aircraft Purchase Price shall in
                  no case be lower than the CRJ 200 Base Price, as stipulated in
                  Article 2.1 herein.

         1.2      Buyer shall exercise its right to purchase the CRJ 200 Option
                  Aircraft by providing to Bombardier with a definitive
                  irrevocable written notice of exercise no later than [***]
                  prior to the Scheduled Delivery Month of the first CRJ 200
                  Option Aircraft (the "Exercise Date") accompanied by the
                  Option Deposit (as defined in Article 1.3 herein) for the
                  applicable CRJ 200 Option Aircraft. The option to purchase the
                  applicable Option Aircraft shall become null and void in the
                  event Buyer fails to give such notice of exercise by the
                  Exercise Date.

         1.3      Buyer shall pay to Bombardier a deposit of [***] for the
                  applicable CRJ 200 Option Aircraft (the "Option Deposit") on
                  the exercise of the option for such CRJ 200 Option Aircraft.

         1.4      The Scheduled Delivery Months of the Option Aircraft are as
                  follows:

<TABLE>
<CAPTION>
<S>                                                    <C>        <C>
                  First CRJ 200 Option Aircraft        [***]      [***]
                  Second CRJ 200 Option Aircraft       [***]      [***]
                  Third CRJ 200 Option Aircraft        [***]      [***]
                  Fourth CRJ 200 Option Aircraft       [***]      [***]
                  Fifth CRJ 200 Option Aircraft        [***]      [***]
                  Sixth CRJ 200 Option Aircraft        [***]      [***]
                  Seventh CRJ 200 Option Aircraft      [***]      [***]
                  Eighth CRJ 200 Option Aircraft       [***]      [***]
                  Ninth CRJ 200 Option Aircraft        [***]      [***]
                  Tenth CRJ 200 Option Aircraft        [***]      [***]
                  Eleventh CRJ 200 Option Aircraft     [***]      [***]
                  Twelfth CRJ 200 Option Aircraft      [***]      [***]
                  Thirteenth CRJ 200 Option Aircraft   [***]      [***]
                  Fourteenth CRJ 200 Option Aircraft   [***]      [***]
                  Fifteenth CRJ 200 Option Aircraft    [***]      [***]
                  Sixteenth CRJ 200 Option Aircraft    [***]      [***]
</TABLE>

                                        8
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<PAGE>   69

<TABLE>
<CAPTION>
<S>                                                    <C>        <C>
                  Seventeenth CRJ 200 Option Aircraft  [***]      [***]
                  Eighteenth CRJ 200 Option Aircraft   [***]      [***]
                  Nineteenth CRJ 200 Option Aircraft   [***]      [***]
                  Twentieth CRJ 200 Option Aircraft    [***]      [***]
</TABLE>

2.0      Upon exercise of Buyer's right to purchase the CRJ 200 Option Aircraft,
         the parties shall deem all definitions, terms and conditions of the
         Agreement and this Supplement as being applicable to the purchase of
         the CRJ 200 Option Aircraft, unless expressly noted otherwise.

3.0      [***]

4.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

5.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

                                        9
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                                                   Initials
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<PAGE>   70

                                     ANNEX 4

                           AIRCRAFT CREDIT MEMORANDUM

1.0      Bombardier shall issue to Buyer a credit memorandum in the amount of
         [***] (the "CRJ 200 Credit Memorandum") expressed in [***] United
         States Dollars, concurrent with the actual delivery and the payment in
         full of the balance of the CRJ 200 Aircraft purchase price payable on
         delivery of each CRJ 200 Aircraft (as reduced by the amount of the CRJ
         200 Credit Memorandum). The CRJ 200 Credit Memorandum shall be adjusted
         to the date of delivery to reflect economic fluctuations during the
         period from [***] to the respective delivery date of the applicable CRJ
         200 Aircraft. [***] to the Agreement.

2.0      [***]

3.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

4.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

5.0      Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail

                                        10
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                                                   Initials
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<PAGE>   71

                                     ANNEX 5

                            INTENTIONALLY LEFT BLANK

                                        11
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<PAGE>   72

                                     ANNEX 6

                     CRJ 200 AIRCRAFT PERFORMANCE GUARANTEES

1.0      AIRCRAFT CONFIGURATION

         The guarantees listed below are based on the Aircraft configuration as
         defined in Canadair Customized Type Specification RAD-601R-123 Issue
         NC, and equipped with GE CF34-3B1 engines as defined in GE Engines
         Specification E1271A. The weight data corresponds to the [***] MTOW
         design weight option and includes the weight changes associated with
         the centre-wing fuel tank. Appropriate adjustments shall be made for
         changes in configuration approved by the Buyer and BRAD or otherwise
         allowed by the Purchase Agreement which cause changes to the
         performance of the Aircraft.

2.0  AIRPORT CONDITIONS

         All maximum take-off weight calculations are based on the aircraft
         configuration and runway conditions described below:

         - Take-off with zero bleed, APU off
         - APR armed - Dry runway (no reverse thrust)
         - Balanced field length when optimum
         - Wind             : 0 kts
         - Clearway         : 0 ft
         - Stopway          : 0 ft
         - Flaps            : optimum 8 or 20 deg
         - Line-up allowance         : 82 ft
         - Obstacles are defined from start of runway

<TABLE>
<CAPTION>

<S>                  <C>
         Airport     : PHX, PHOENIX SKY HARB
         Runway      : generic

         Slope       : 0.000 %
         TORA        : 11000 ft
         Elev.       : 1133 ft
         Temper.     : 110.1 degF (43.40 degC)
         Obst.       : none

         Airport     : DSM, DES MOINES INTL
         Runway      : generic

         Slope       : 0.000 %
         TORA        : 9000 ft
         Elev.       :  957 ft
         Temper.     : 90 degF (32.20 degC)
</TABLE>

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         Obst.       : none

         Airport     : FAT, FRESNO
         Runway      : generic
         Slope       : 0.000 %
         TORA        : 9220 ft
         Elev.       :  333 ft
         Temper.     : 90 degF (32.20 degC)
         Obst.       : none

         Airport     : BHM, BIRMINGHAM MUNICIP.
         Runway      : 23
         Slope       : 0.200 % downhill
         TORA        : 8229 ft
         Elev.       :  644 ft
         Temper.     : 90 degF (32.20 degC)
         Obst.       :       #         distance (ft)        height (ft)
                             1         9219                 -10
                             2         13294                68
                             3         15722                120

         Airport     : BUF, GREATER BUFFALO INT.
         Runway      : 23
         Slope       : 0.400 % downhill
         TORA        : 8100 ft
         Elev.       :  724 ft
         Temper.     : 90 degF (32.30 degC)
         Obst.       :       #         distance (ft)        height (ft)
                             1         8576                 -47
                             2         8671                 -36
                             3         9275                 -27
                             4         9623                 -2
                             5         10351                -1
                             6         10643                3
                             7         11510                19

         Airport     : BZN, GALLATIN FIELD
         Runway      : 30
         Slope       : 0.200 % downhill
         TORA        : 9003 ft
         Elev.       : 4474 ft
         Temper.     : 90 degF (32.20 degC)
         Obst.       :       #         distance (ft)        height (ft)
                             1         10295                -11

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                             2         78396                432
                             3         95194                632

         Airport     : DAY, COX-DAYTON INTL
         Runway      : 06L
         Slope       : 0.000 %
         TORA        : 10900 ft
         Elev.       : 1009 ft
         Temper.     : 90 degF (32.20 degC)
         Obst.       :       #         distance (ft)        height (ft)
                             1         12579                1
                             2         12684                2
                             3         14173                68

         Airport     : DEN, DENVER INTL
         Runway      : 35L
         Slope       : 0.500 % downhill
         TORA        : 12000 ft
         Elev.       : 5431 ft
         Temper.     : 90 degF (32.20 degC)
         Obst.       : none

         Airport     : DRO, DURANGO
         Runway      : 20
         Slope       : 0.760 % downhill
         TORA        : 9200 ft
         Elev.       : 6685 ft
         Temper.     : 90 degF (32.30 degC)
         Obst.       :       #         distance (ft)        height (ft)
                             1         9505                 -61
                             2         24193                -41
                             3         30318                -16

         Airport     : EGE, EAGLE CO REGL
         Runway      : 07
         Slope       : 1.000 % uphill
         TORA        : 8000 ft
         Elev.       : 6535 ft
         Temper.     : 90 degF (32.30 degC)
         Obst.       :       #         distance (ft)        height (ft)
                             1         14961                349
                             2         16982                484
                             3         22461                844
                             4         34416                933

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                               5         46044                1045
                               6         49410                1353

      Airport       : ELP, EL PASO
      Runway        : 22
      Slope         : 0.250 % downhill
      TORA          : 11011 ft
      Elev.         : 3956 ft
      Temper.       : 90 degF (32.30 degC)
      Obst.         : none

      Airport       : FAR, HECTOR INTL
      Runway        : 35
      Slope         : 0.000 %
      TORA          : 9545 ft
      Elev.         :  900 ft
      Temper.       : 90 degF (32.20 degC)
      Obst.         :       #    distance (ft)        height (ft)
                       1         10994                2
                       2         11142                11
                       3         11539                12

      Airport     : GRR, KENT CO INTL
      Runway      : 26L
      Slope       : 0.000 %
      TORA        : 10000 ft
      Elev.       :  794 ft
      Temper.     : 90 degF (32.20 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         34298                120

      Airport     : GSO, PIEDMONT TRIAD INTL
      Runway      : 05
      Slope       : 0.200 % downhill
      TORA        : 10000 ft
      Elev.       :  926 ft
      Temper.     : 90 degF (32.30 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         10942                -7

      Airport     : GTF, GREAT FALLS INT'L AP
      Runway      : 03
      Slope       : 0.100 % downhill

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      TORA        : 10500 ft
      Elev.       : 3674 ft
      Temper.     : 90 degF (32.20 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         34275                445

      Airport     : HSV, HUNTSVILLE INT-JONES
      Runway      : 18L
      Slope       : 0.200 % downhill
      TORA        : 10000 ft
      Elev.       :  630 ft
      Temper.     : 90 degF (32.30 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         41916                182
                          2         81408                432

      Airport     : JAN, JACKSON INTL
      Runway      : 15L
      Slope       : 0.500 % uphill
      TORA        : 8500 ft
      Elev.       :  346 ft
      Temper.     : 90 degF (32.20 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         15433                188

      Airport     : MSN, DANE CO REG'L/TRUAX
      Runway      : 36
      Slope       : 0.000 %
      TORA        : 9003 ft
      Elev.       :  862 ft
      Temper.     : 90 degF (32.20 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         9603                 3
                          2         10105                11
                          3         10210                24
                          4         10548                42
                          5         54574                180

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      Airport     : MSO, MISSOULA INTL
      Runway      : 11
      Slope       : 0.100 % uphill
      TORA        : 9500 ft
      Elev.       : 3201 ft
      Temper.     : 90 degF (32.30 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         9846                 10
                          2         9902                 13
                          3         48038                313
                          4         48937                482
                          5         69994                1007

      Airport     : PNS, PENSACOLA REG'L APT
      Runway      : 17
      Slope       : 0.200 % downhill
      TORA        : 7000 ft
      Elev.       :  121 ft
      Temper.     : 90 degF (32.30 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         8100                 -11
                          2         9000                 -10
                          3         17116                58

      Airport     : RDU, RALEIGH-DURHAM INTL
      Runway      : 05L
      Slope       : 0.400 % uphill
      TORA        : 10000 ft
      Elev.       :  436 ft
      Temper.     : 90 degF (32.20 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         11473                48
                          2         12556                81
                          3         12848                94

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      Airport     : ROC, GREATER ROCHESTER
      Runway      : 22
      Slope       : 0.400 % downhill
      TORA        : 8000 ft
      Elev.       :  559 ft
      Temper.     : 90 degF (32.20 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         9728                 9
                          2         11378                42
                          3         12628                57
                          4         141664               427

      Airport     : SBN, MICHIANA REGL
      Runway      : 09R
      Slope       : 0.300 % downhill
      TORA        : 7100 ft
      Elev.       :  799 ft
      Temper.     : 90 degF (32.20 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         9318                 2
                          2         46591                277

      Airport     : SDF, STANDIFORD FIELD
      Runway      : 01
      Slope       : 0.300 % uphill
      TORA        : 10000 ft
      Elev.       :  496 ft
      Temper.     : 90 degF (32.20 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         10800                33
                          2         11162                45
                          3         12454                82
                          4         14554                124
                          5         14826                133
                          6         15213                137
                          7         15988                159
                          8         41598                349

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      Airport     : TYS, MCGHEE TYSON
      Runway      : 05L
      Slope       : 0.900 % uphill
      TORA        : 9005 ft
      Elev.       :  981 ft
      Temper.     : 90 degF (32.30 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         10358                72
                          2         11798                101
                          3         14423                126

      Airport     : ASE, PITKIN CO/SARDY
      Runway      : 33
      Slope       : 1.000 % downhill
      TORA        : 7000 ft
      Elev.       : 7815 ft
      Temper.     : 90 degF (32.20 degC)
      Obst.       :       #         distance (ft)        height (ft)
                          1         7723                 -24
                          2         28750                421
                          3         31950                602
                          4         37047                1031
                          5         56759                1747

                                        19
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<PAGE>   80
3.0     PERFORMANCE GUARANTEE

3.1      TAKE-OFF PERFORMANCE

         FAR take-off field length, at a take-off gross weight of [***], at the
         start of ground run, at sea level with zero runway slope, no obstacles,
         zero wind, ISA conditions, shall be not more than [***] .

3.2      LANDING PERFORMANCE

         FAR landing field length, at a landing weight of [***], sea level, ISA
         conditions, no obstacles, zero wind, shall be not more than [***] feet.

3.3      SPEED

         Level flight airspeed at [***] lb gross weight (equivalent to [***] %
         of Maximum Take-off Weight), at a pressure altitude of [***] feet,
         using maximum cruise thrust with A.C.U. bleed only, in ISA+15 degrees C
         conditions shall not be less than [***]

3.4      SPECIFIC AIR RANGE

         The nautical air miles per pound of fuel in ISA+15 degrees C
         conditions, at [***] feet pressure altitude, at an Aircraft gross
         weight of [***] lb, at a true Mach number of [***] M shall be not less
         than [***] nam/lb.

3.5      MISSION PERFORMANCE

3.5.1    MAXIMUM RANGE GUARANTEE
           When operated under the conditions specified below with the fixed
           quantities and allowances specified in Article 3.5.3, the maximum
           still air range (stage length) shall be not less than [***] nautical
           miles ([***] statute miles) when carrying a fixed payload of [***] lb
           ([***] passengers).
           Take-off is at a fixed weight of [***] lb at brake release.
           The mission is flown in ISA+15 degrees C conditions throughout.
           A fixed allowance of [***] lb of fuel is considered for [***] minutes
           take-off and acceleration time to [***] KCAS initial climb speed at
           [***] feet above sea level.
           Climb is made starting at [***] feet to [***] feet pressure altitude
           using a climb speed schedule of [***] KCAS/ [***] M.
           Cruise is at [***] feet pressure altitude at an average cruise Mach
           number of [***] M. Thrust during cruise is not to exceed maximum
           cruise thrust. Step climb is made starting at [***] feet to [***]
           feet pressure altitude using a climb speed schedule of [***] KCAS/
           [***] M.
           Cruise is at [***] feet pressure altitude at an average cruise Mach
           number of [***] M. Thrust during cruise is not to exceed maximum
           cruise thrust.

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           Descent is made from [***] feet to [***] feet pressure altitude using
           a descent speed schedule of [***] M / [***] KCAS.

3.5.2      BLOCK FUEL GUARANTEES
3.5.2.1      STAGE LENGTH - [***]  N.M.
             For a mission with an equivalent still air range (stage length) of
             [***] nautical miles ([***] statute miles), when operated under the
             conditions specified below with the fixed quantities and allowances
             specified in Article 3.5.3, the block fuel burnt shall be not more
             than [***] lb, based on a block time of [***] minutes, equivalent
             to an average fuel consumption of [***] U.S. Gallon per block hour,
             when carrying a fixed payload of [***] lb ([***] passengers).
             The mission is flown in ISA+15 degrees C conditions throughout.
             A fixed allowance of [***] lb of fuel is considered for [***]
             minutes take-off and acceleration time to initial climb speed at
             [***] feet above sea level.
             Climb is made starting at [***] feet to [***] feet pressure
             altitude using a climb speed schedule of [***] KCAS/ [***] M.
             Cruise is at [***] feet pressure altitude at an average cruise Mach
             number of [***] M. Thrust during cruise is not to exceed maximum
             cruise thrust.
             Descent is made from [***] feet to [***] feet pressure altitude
             using a descent speed schedule of [***] M / [***] KCAS.

3.5.2.2      STAGE LENGTH - [***]  N.M.

             For a mission with an equivalent still air range (stage length) of
             [***] nautical miles ([***] statute miles), when operated under the
             conditions specified below with the fixed quantities and allowances
             specified in Article 3.5.3, the block fuel burnt shall be not more
             than [***] lb, based on a block time of [***] minutes, equivalent
             to an average fuel consumption of [***] U.S. Gallon per block hour,
             when carrying a fixed payload of [***] lb ([***] passengers).
             The mission is flown in ISA+15 degrees C conditions throughout.
             A fixed allowance of [***] lb of fuel is considered for [***]
             minutes take-off and acceleration time to initial climb speed at
             [***] feet above sea level.
             Climb is made starting at [***] feet to [***] feet pressure
             altitude using a climb speed schedule of [***] KCAS/ [***] M.
             Cruise is at [***] feet pressure altitude at an average cruise Mach
             number of [***] M. Thrust during cruise is not to exceed maximum
             cruise thrust.
             Descent is made from [***] feet to [***] feet pressure altitude
             using a descent speed schedule of [***] M / [***] KCAS.

3.5.2.3      STAGE LENGTH - [***]  N.M.
             For a mission with an equivalent still air range (stage length) of
             [***] nautical miles ([***] statute miles), when operated under the
             conditions specified below with the fixed quantities and allowances
             specified in Article 3.5.3, the block fuel burnt shall be not more
             than [***] lb, based on a block time of [***] minutes, equivalent
             to an average fuel consumption of [***] U.S. Gallon per block hour,
             when carrying a fixed payload of [***] lb ([***] passengers).
             The mission is flown in ISA+15 degrees C conditions throughout.

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             A fixed allowance of [***] lb of fuel is considered for [***]
             minutes take-off and acceleration time to initial climb speed at
             [***] feet above sea level.
             Climb is made starting at [***] feet to [***] feet pressure
             altitude using a climb speed schedule of [***] KCAS/ [***] M.
             Cruise is at [***] feet pressure altitude at an average cruise Mach
             number of [***]. Thrust during cruise is not to exceed maximum
             cruise thrust.
             Descent is made from [***] feet to [***] feet pressure altitude
             using a descent speed schedule of [***] M / [***] KCAS.

3.5.2.4      STAGE LENGTH - [***] N.M.

             For a mission with an equivalent still air range (stage length) of
             nautical miles ([***] statute miles), when operated under the
             conditions specified below with the fixed quantities and allowances
             specified in Article 3.5.3, the block fuel burnt shall be not more
             than [***] lb, based on a block time of [***] minutes, equivalent
             to an average fuel consumption of[***] U.S. Gallon per block hour,
             when carrying a fixed payload of [***] lb ([***] passengers).
             The mission is flown in ISA+15 degrees C conditions throughout.
             A fixed allowance of [***] lb of fuel is considered for [***]
             minutes take-off and acceleration time to initial climb speed at
             [***] feet above sea level.
             Climb is made starting at [***] feet to [***] feet pressure
             altitude using a climb speed schedule of [***] KCAS/ [***] M.
             Cruise is at [***] feet pressure altitude at an average cruise Mach
             number of [***] M. Thrust during cruise is not to exceed maximum
             cruise thrust. Step climb is made starting at [***] feet to [***]
             feet pressure altitude using a climb speed schedule of KCAS/ M.
             Cruise is at [***] feet pressure altitude at an average cruise Mach
             number of [***] M. Thrust during cruise is not to exceed maximum
             cruise thrust.
             Descent is made from [***] feet to [***] feet pressure altitude
             using a descent speed schedule of [***] M / [***] KCAS.

3.5.2.5      STAGE LENGTH - [***] N.M.
             For a mission with an equivalent still air range (stage length) of
             [***] nautical miles ([***] statute miles), when operated under the
             conditions specified below with the fixed quantities and allowances
             specified in Article 3.5.3, the block fuel burnt shall be not more
             than [***] lb, based on a block time of [***] minutes, equivalent
             to an average fuel consumption of U.S. Gallon per block hour, when
             carrying a fixed payload of [***] lb ([***] passengers).
             The mission is flown in ISA+15 degrees C conditions throughout.
             A fixed allowance of [***] lb of fuel is considered for [***]
             minutes take-off and acceleration time to initial climb speed at
             [***] feet above sea level.
             Climb is made starting at [***] feet to [***] feet pressure
             altitude using a climb speed schedule of [***] KCAS/ [***] M.
             Cruise is at [***] feet pressure altitude at an average cruise Mach
             number of 0.74 M. Thrust during cruise is not to exceed maximum
             cruise thrust. Step climb is made starting at [***] feet to [***]
             feet pressure altitude using a climb speed schedule of [***] KCAS/
             [***] M.
             Cruise is at [***] feet pressure altitude at an average cruise Mach
             number of [***] M. Thrust during cruise is not to exceed maximum
             cruise thrust.

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             Descent is made from [***] feet to [***] feet pressure altitude
             using a descent speed schedule of [***] M / [***] KCAS.

3.5.3    FIXED QUANTITIES AND ALLOWANCES FOR MAXIMUM RANGE AND BLOCK FUEL
GUARANTEES

         For the purpose of this guarantee the following are fixed quantities
         and allowances:

         - 9 minutes engine start and taxi-out fuel               [***] lb

         - 4.2 minutes approach and landing fuel from             [***] [***] lb
           feet pressure altitude to sea level

         -6 minutes taxi-in fuel (taken from reserves)            [***] lb

         - Usable reserve fuel remaining upon completion          [***] lb
           of landing phase, based on the reserve profile
           specified below:

         1) 100 nm diversion including:

              i)climb from sea level to [***] feet at a speed of [***] KCAS

              ii)cruise at [***] feet at long range cruise speed (LRC)

              iii)descent to sea level at a speed of [***] KCAS.

         2) plus fuel equivalent to [***] minutes hold at [***] feet at
         long-range cruise speed (LRC).

           The stage length is defined as the sum of the climb, cruise and
           descent distances.
           M denotes true Mach number.
           Block fuel includes engine start, taxi, take-off, climb, cruise,
           descent, approach and landing.
           The maximum range and fuel burn guarantees given in Articles 3.5.1
           and 3.5.2 are based on the fixed estimated Operating Weight Empty
           (O.W.E.) of [***] lb.

3.5.4      MAXIMUM PAYLOAD GUARANTEES
           Under the conditions specified in 3.5.2 and with the fixed quantities
           and allowances specified in 3.5.3, the maximum number of passengers
           shall not be less than the value presented in the table below for
           each mission.

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<TABLE>
<CAPTION>
Case    FROM    TO     Route     Average    Equiv.       Cruise      MAX.
#                      Dist.     winds      still air    pressure    PASSEN-
                       (nm)      (kts)      dist.        altitude    GERS
                                            (nm)         (100 ft)
<S>     <C>     <C>    <C>       <C>        <C>          <C>         <C>

1       DRO     DEN    224       -13        232          [***]       [***]
2       DEN     DRO    283       -48        324          [***]       [***]
3       DEN     EGE    118       -50        137          [***]       [***]
4       EGE     DEN    130       4          128          [***]       [***]
5       DEN     BHM    999       29         931          [***]       [***]
6       BHM     DEN    967       -84        1218         [***]       [***]
7       DEN     BUF    1190      27         1114         [***]       [***]
8       BUF     DEN    1196      -79        1482         [***]       [***]
9       DEN     BZN    589       -67        707          [***]       [***]
10      BZN     DEN    508       10         494          [***]       [***]
11      DEN     DAY    964       29         898          [***]       [***]
12      DAY     DEN    964       -84        1212         [***]       [***]
13      DEN     ELP    514       -33        561          [***]       [***]
14      ELP     DEN    534       -28        576          [***]       [***]
15      DEN     FAR    583       -13        603          [***]       [***]
16      FAR     DEN    591       -45        667          [***]       [***]
17      DEN     GRR    890       22         842          [***]       [***]
18      GRR     DEN    897       -77        1105         [***]       [***]
19      DEN     GSO    1240      35         1139         [***]       [***]
20      GSO     DEN    1280      -89        1631         [***]       [***]
21      DEN     GTF    552       -64        658          [***]       [***]
22      GTF     DEN    553       8          540          [***]       [***]
23      DEN     HSV    919       29         856          [***]       [***]
24      HSV     DEN    928       -86        1174         [***]       [***]
25      DEN     JAN    883       22         835          [***]       [***]
26      JAN     DEN    872       -80        1084         [***]       [***]
27      DEN     MSN    753       17         721          [***]       [***]
28      MSN     DEN    753       -74        921          [***]       [***]
</TABLE>

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<TABLE>
<CAPTION>
Case    FROM    TO     Route     Average    Equiv.       Cruise      MAX.
#                      Dist.     winds      still air    pressure    PASSEN-
                       (nm)      (kts)      dist.        altitude    GERS
                                            (nm)         (100 ft)
<S>     <C>     <C>    <C>       <C>        <C>          <C>         <C>
29      DEN     MSO    616       -68        741          [***]       [***]
30      MSO     DEN    625       13         604          [***]       [***]
31      DEN     PNS    1129      24         1064         [***]       [***]
32      PNS     DEN    1121      -80        1391         [***]       [***]
33      DEN     RDU    1290      36         1183         [***]       [***]
34      RDU     DEN    1327      -89        1691         [***]       [***]
35      DEN     ROC    1236      27         1157         [***]       [***]
36      ROC     DEN    1245      -80        1543         [***]       [***]
37      DEN     SBN    852       24         803          [***]       [***]
38      SBN     DEN    857       -79        1064         [***]       [***]
39      DEN     SDF    907       30         842          [***]       [***]
40      SDF     DEN    935       -86        1183         [***]       [***]
41      DEN     TYS    1023      32         946          [***]       [***]
42      TYS     DEN    1046      -87        1329         [***]       [***]
43      DEN     ASE    97        -41        109          [***]       [***]
44      ASE     DEN    97        0          97           [***]       [***]
45      PHX     BHM    1274      36         1168         [***]       [***]
46      BHM     PHX    1306      -86        1652         [***]       [***]
47      PHX     BUF    1669      26         1569         [***]       [***]
48      BUF     PHX    1680      -76        2058         [***]       [***]
49      PHX     BZN    999       -39        1107         [***]       [***]
50      BZN     PHX    997       -17        1042         [***]       [***]
51      PHX     DAY    1400      28         1308         [***]       [***]
52      DAY     PHX    1408      -79        1745         [***]       [***]
53      PHX     ELP    330       15         316          [***]       [***]
54      ELP     PHX    311       -72        384          [***]       [***]
55      PHX     FAR    1133      -7         1154         [***]       [***]
56      FAR     PHX    1127      -45        1269         [***]       [***]
57      PHX     GRR    1381      19         1317         [***]       [***]
58      GRR     PHX    1387      -71        1677         [***]       [***]
59      PHX     GSO    1676      37         1535         [***]       [***]
60      GSO     PHX    1691      -88        2152         [***]       [***]
</TABLE>

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<PAGE>   86
<TABLE>
<CAPTION>
Case    FROM    TO     Route     Average    Equiv.       Cruise      MAX.
#                      Dist.     winds      still air    pressure    PASSEN-
                       (nm)      (kts)      dist.        altitude    GERS
                                            (nm)         (100 ft)
<S>     <C>     <C>    <C>       <C>        <C>          <C>         <C>
61      PHX     GTF    862       -40        957          [***]       [***]
62      GTF     PHX    860       -15        894          [***]       [***]
63      PHX     HSV    1260      35         1158         [***]       [***]
64      HSV     PHX    1285      -85        1623         [***]       [***]
65      PHX     JAN    1172      34         1080         [***]       [***]
66      JAN     PHX    1140      -84        1435         [***]       [***]
67      PHX     MSN    1295      14         1249         [***]       [***]
68      MSN     PHX    1295      -67        1548         [***]       [***]
69      PHX     MSO    836       -46        945          [***]       [***]
70      MSO     PHX    833       -9         853          [***]       [***]
71      PHX     PNS    1351      36         1239         [***]       [***]
72      PNS     PHX    1381      -85        1742         [***]       [***]
73      PHX     RDU    1659      38         1516         [***]       [***]
74      RDU     PHX    1736      -90        2218         [***]       [***]
75      PHX     ROC    1720      26         1616         [***]       [***]
76      ROC     PHX    1728      -76        2121         [***]       [***]
77      PHX     SBN    1321      22         1252         [***]       [***]
78      SBN     PHX    1332      -74        1625         [***]       [***]
79      PHX     SDF    1343      30         1249         [***]       [***]
80      SDF     PHX    1340      -82        1675         [***]       [***]
81      PHX     TYS    1401      35         1287         [***]       [***]
82      TYS     PHX    1426      -86        1801         [***]       [***]
83      PHX     DRO    319       -6         324          [***]       [***]
84      DRO     PHX    310       -53        361          [***]       [***]
85      PHX     EGE    530       -13        549          [***]       [***]
86      EGE     PHX    466       -47        529          [***]       [***]
87      PHX     DSM    1003      12         972          [***]       [***]
88      DSM     PHX    1011      -67        1210         [***]       [***]
89      PHX     FAT    484       -67        584          [***]       [***]
90      FAT     PHX    467       9          456          [***]       [***]
91      PHX     ASE    426       -11        439          [***]       [***]
92      ASE     PHX    426       -49        487          [***]       [***]
</TABLE>

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                                                   Initials
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<PAGE>   87
3.5.5      MISSION DESCRIPTION

           The equivalent still air distance is the actual route distance
           (range) corrected for the average winds. Head winds are negative.
           [***] have been used.

           The maximum take-off weight for each departure airport is based on
           the conditions specified in paragraph 2.0 and is in compliance with
           FAR 25 take-off requirements.

           The missions are flown in ISA conditions throughout.

           A fixed allowance of fuel dependent on take-off weight is considered
           for take-off and acceleration to initial climb speed at [***] ft
           above the airport elevation.

           Climb is made starting [***] ft above the airport elevation to the
           initial cruise pressure altitude specified in the table above using a
           climb speed schedule of [***] KCAS/ [***] M.

           Cruise is at the pressure altitude specified in the table at an
           average cruise Mach number of [***] M. Thrust during cruise is not to
           exceed maximum cruise thrust.

           When a second cruise pressure altitude is specified in the table, a
           [***] ft step climb from the first to the second pressure altitude is
           made using a climb speed schedule of [***] KCAS/ [***] M. It is
           followed by a cruise at the second pressure altitude at an average
           cruise Mach number of [***] M.

           Descent is made from the final cruise pressure altitude to [***] ft
           above the runway elevation using a descent speed schedule of [***]
           M/[***] KCAS.

           A fixed allowance of fuel dependent on landing weight is considered
           for approach and landing from final descent speed at [***] ft above
           the airport elevation.

3.5.6      FIXED QUANTITIES AND ALLOWANCES FOR PAYLOAD GUARANTEES
           For the purpose of this guarantee the following are fixed quantities
           and allowances:
           - 9 minutes engine start and taxi-out fuel [***] lb
           - 6 minutes taxi-in fuel (taken from reserves) [***] lb

- Usable reserve fuel remaining upon completion of landing phase, based on the
  reserve profile specified below:

           1) 100 nm diversion including:

             i) climb from destination airport elevation to optimum altitude at
             a speed of [***] KCAS
             ii) cruise at optimum altitude at long range cruise speed (LRC)
             iii)descent to sea level at a speed of [***] KCAS.

           2) plus fuel equivalent to [***] minutes hold at feet at long-range
              cruise speed (LRC).

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           The stage length is defined as the sum of the climb, cruise and
           descent distances. M denotes true Mach number.

           Block fuel includes engine start, taxi, take-off, climb, cruise,
           descent, approach and landing.

           The maximum payload guarantees given in 3.5.4 are based on the fixed
           estimated Operating Weight Empty (O.W.E.) of [***] lb and on the
           passenger weight allowance of [***] lb.

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<PAGE>   89
4.0     WEIGHTS

4.1      MAXIMUM ZERO FUEL WEIGHT GUARANTEE

         The Maximum Zero Fuel Weight (M.Z.F.W.) shall not be less than [***]lb.

4.2      MAXIMUM LANDING WEIGHT GUARANTEE

         The Maximum Landing Weight (M.L.W.) shall not be less than [***] lb.

4.3      MAXIMUM TAKE-OFF WEIGHT GUARANTEE

         The Maximum Take-off Weight (M.T.O.W.) shall not be less than [***] lb

4.4      OPERATING WEIGHT EMPTY AND CENTER OF GRAVITY GUARANTEES

         The Operating Weight Empty is guaranteed to not exceed [***] lb.
         Included within this guarantee are weight and center of gravity
         allowances for operating items listed below and customer defined
         options described below. Should these allowances differ from the actual
         values at delivery, appropriate corrections are to be made to the
         guaranteed weight (i.e. the Seller can not guarantee the weight of
         these allowances).

         The center of gravity (CG) range at O.W.E. shall have a maximum forward
         limit of [***] % of Mean Aerodynamic Chord (MAC) and a maximum aft
         limit of [***] % MAC (subject to the appropriate corrections noted
         above).

         OPERATING WEIGHT EMPTY BUILD-UP

<TABLE>
<CAPTION>
ITEM                                              WEIGHT           CG                %
DESCRIPTION                                       --------------   --------------    -----
                                                  (LB)     (KG)    (IN)     (M)      MAC
------------------------------------------------------------------------------------------
<S>                                               <C>      <C>     <C>      <C>      <C>
MANUFACTURER'S WEIGHT EMPTY (BARE)                [***]    [***]   [***]    [***]    [***]
------------------------------------------------------------------------------------------
Build Up to Type Spec                             [***]    [***]   [***]    [***]
      Basic Passenger Seat (20 Pairs)             [***]    [***]   [***]    [***]
      Forward Flight Attendant Seat               [***]    [***]   [***]    [***]
      Entrance Storage Compartment                [***]    [***]   [***]    [***]
      Galley (G1)                                 [***]    [***]   [***]    [***]
      Left Hand Windscreen                        [***]    [***]   [***]    [***]
      Right Hand Windscreen                       [***]    [***]   [***]    [***]
      Cabin Carpet                                [***]    [***]   [***]    [***]
      Lavatory                                    [***]    [***]   [***]    [***]
      Class "C" Baggage Compartment               [***]    [***]   [***]    [***]
      Installed Options (Basic)                   [***]    [***]   [***]    [***]
</TABLE>

                                       29
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<PAGE>   90
<TABLE>
<S>                                               <C>      <C>     <C>      <C>      <C>
      Emergency Equipment (Basic)                 [***]            [***]

------------------------------------------------------------------------------------------
M.W.E DELIVERED (TYPE SPEC)                       [***]    [***]   [***]    [***]    [***]
------------------------------------------------------------------------------------------
Customized Mesa Air Group Outfitting              [***]    [***]   [***]    [***]
      Installed Options

------------------------------------------------------------------------------------------
M. W. E. DELIVERED (MESA AIR GROUP)               [***]    [***]   [***]    [***]    [***]
------------------------------------------------------------------------------------------
Addition of Unusable Fuel & Engine Oil            [***]    [***]   [***]    [***]
      Unusable Fuel                               [***]    [***]   [***]    [***]
         Main Tanks (12.4 USG)                    [***]    [***]   [***]
         Center Tank (2.1 USG)                    [***]
      Engine Oil (5.8 USG)

------------------------------------------------------------------------------------------
TRUE EMPTY WEIGHT                                 [***]    [***]   [***]    [***]    [***]
------------------------------------------------------------------------------------------
                                                  [***]    [***]   [***]    [***]
Addition of Operating Items                       [***]    [***]   [***]    [***]
                                                  [***]    [***]   [***]    [***]
Flight & Cabin Crew                               [***]    [***]   [***]    [***]
      Pilot & Copilot                             [***]    [***]   [***]    [***]
      Forward Attendant                           [***]    [***]   [***]    [***]
      Flight Manuals                              [***]    [***]   [***]    [***]
      FORWARD LEFT-HAND WARDROBE (STRUCT.)        [***]    [***]   [***]    [***]
      AFT LEFT-HAND STORAGE UNIT                  [***]    [***]   [***]    [***]
      AFT FILLER (RIGHT AND LEFT SIDE)            [***]    [***]   [***]    [***]
                                                  [***]    [***]   [***]    [***]
Galley inserts & Consumables                      [***]    [***]   [***]    [***]
      Galley G1                                   [***]    [***]   [***]    [***]
         1/2 Size Waste Cart (1 unit)             [***]    [***]   [***]    [***]
         Standard Container (9 units)             [***]    [***]   [***]    [***]
         Beverage Maker (2 units)                                  [***]    [***]
      Storage (Galley G2)
         Forward Right-hand Storage Unit
         Standard Container (2 units)
      Galley Aft Bulkhead with Return Catering
      Consumables
         Galley G1
         Galley G2
Galley Water (8 USG)
Lavatory Water (5 USG)
Toilet Fluids (2.3 USG)
------------------------------------------------------------------------------------------
O.W.E. (EST.)                                     [***]    [***]   [***]    [***]    [***]
O.W.E. (GUARANTEE)                                [***]    [***]                     [***]
</TABLE>

                                       30
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                                                   Initials
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<PAGE>   91
5.0     PERFORMANCE GUARANTEE CONDITIONS

5.1      All guaranteed performance data are based on the ICAO International
         Standard Atmosphere (ISA) unless noted otherwise. Altitudes are
         pressure altitudes.

5.2      Take-off and landing performance are based on the requirements of FAR
         25.

5.3      Take-off and landing performance guarantees are based on operation from
         hard surfaced, level and dry runways with no wind, no obstacles and no
         line-up allowance unless noted otherwise and with anti-skid and
         automatic spoilers operative.

5.4      When establishing the take-off and second segment performance, no air
         shall be bled from the engine(s) for cabin air conditioning or
         anti-icing and APR shall be armed and available when one engine fails.
         The APU shall be off.

5.5      Speed, specific air range, and the climb, cruise, and descent portion
         of the mission guarantee include allowance for normal engine bleed and
         power extraction. Normal engine bleed is defined as that bleed required
         to maintain a cabin pressure altitude not exceeding [***] feet at the
         maximum operating altitude with an average cabin ventilation rate of
         not less than [***] ft(3)/min and a cabin temperature of 72(degree)F.

5.6      Normal power extraction assumes the use of electrical services such as
         to require a power level of 24 Kilowatts, total, to be provided with
         both engines operative and of 15 Kilowatts to be provided with one
         engine inoperative.

5.7      Fuel density is assumed to be [***] pounds / US gallon. All performance
         guarantees are based on the use of a fuel with a lower heating value
         (LHV) of [***] BTU / pound and on an Aircraft centre of gravity
         location of [***] % of the mean aerodynamic chord.

5.8      All guarantees are contingent upon engine acceptance test performance
         acceptable to BRAD and are applicable to a new airframe - engine
         combination only.

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6.0     GUARANTEE COMPLIANCE

6.1      Compliance with take-off and landing performance guarantees shall be
         demonstrated by reference to the approved FAA Airplane Flight Manual
         adjusted to reflect any differences due to change in certification
         requirements or interpretation thereof.

6.2      Compliance with speed, specific air range and mission performance
         guarantees shall be established by calculations based on [***]
         measurements of specific air range at different altitude, weight and
         speed combinations to be agreed by BRAD and the Customer. This
         compliance will be obtained for a Customer Aircraft and will be
         demonstrated by reference to the Flight Planning and Cruise Control
         Manual adjusted to reflect flight test data measurements.

6.3      A compliance report containing speed and specific air range performance
         based on flight test data agreed in 6.2 will be furnished to the
         Customer.

6.4      The Aircraft will be weighed as necessary prior to and after the flight
         during which performance checks are conducted. The standard production
         instrumentation or a special instrumentation system furnished by BRAD
         will be used to measure speed and specific air range. A fuel sample
         will be collected prior to flight to establish density and lower
         heating value (refer to 5.7).

6.5      If speed and the arithmetic average of three measures of specific air
         range data is demonstrated to have achieved compliance with the
         performance guarantees no further demonstration will be required.

6.6      Data derived from tests shall be adjusted as required by conventional
         methods of correction, interpolation or extrapolation in accordance
         with established aeronautical practices to show compliance with the
         performance guarantees. In the event that changes are introduced to the
         Aircraft which affect the performance guarantees contained herein, BRAD
         shall adjust the compliance referred to in paragraph 6.3 above
         accordingly.

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7.0     REMEDIES

7.1      In the event a shortfall in the guarantees contained herein, Bombardier
         reserves the right to carry out additional flight test measurements on
         a subsequent Aircraft, which may be specially instrumented for this
         purpose, with the objective of identifying accurately the cause of the
         shortfall and to develop corrective measures. Such measures shall be
         developed within a period of twelve (12) months from discovery and
         identification of a shortfall (or such other longer period as may be
         mutually agreed in view of the corrective measures involved).

7.2      If, during the period commencing at delivery of the First Aircraft and
         expiring [***] years later, the guaranteed Operating Weight Empty
         mentioned herein is exceeded as a result of (a) Airworthiness
         Directives, or (b) Service Bulletins recommended by Bombardier as
         necessary either to correct a defect that is the fault of Bombardier or
         Bombardier"s supplier, restore reliability or maintainability to
         guaranteed levels, or maintain performance specified herein, c)
         Regulatory Changes, d) permitted changes, then:

         1)       [***]

         2)       [***]

             (i)     Bombardier and Buyer will promptly meet to verify the
                     allegation of the deficiency.

             (ii)    If the allegation is found to be true and a deficiency is
                     acknowledged, then Bombardier will promptly initiate steps
                     to correct the deficiency, and

             (iii)   Until such time as the identified and acknowledged
                     deficiency is corrected Bombardier will provide to Buyer as
                     liquidated damages and not as a penalty (the "Weight
                     Remedy") credit memoranda (or cash less any amounts owed to
                     Bombardier by Buyer), to be used for the purchase of goods
                     and services from Bombardier in amounts based on the
                     following formula:

         Remedy = [***]

         Where:

         Remedy = The amount Bombardier shall pay Buyer as liquidated damages
                  and not as a penalty, in the form of spare parts and/or
                  services credit memorandum, per calendar year that the Buyer
                  operates

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<PAGE>   94
                  each Aircraft during which the guarantee has been broken.
                  Remedy shall begin the year in which the Operating Weight
                  Empty discrepancy has been discovered, subject to a maximum
                  for the term of this guarantee of per Aircraft.

         [***] [***] [***] [***] [***]

         In the event the CG limits change which results in reduced payload
         capability for each affected Aircraft, a remedy shall apply as
         liquidated damages and not as a penalty, which shall be computed by
         applying the same formula as the Weight Remedy, except that the WI
         shall be the number of pounds of ballast (only the amount of ballast
         which results in exceedance of the guaranteed Operating Weight Empty)
         required to restore original CG limits to each affected Aircraft.

         If Buyer adds to or modifies the Aircraft for reasons other than those
         given in the previous paragraph, with the result being an increase in
         the Operating Weight Empty, then the Parties shall amend the Guaranteed
         Operating Weight Empty.

7.3      Bombardier's maximum exposure under this Article 7.2 is [***] and in no
         event, will Bombardier's payout under this Article 7.2 exceed such
         amount.

8.0      In the event of termination of the Agreement and/or the Supplement,
         this Annex shall become automatically null and void.

9.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

10.0     This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

11.0     Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail

APPENDIX A: NOMINAL PERFORMANCE

     For flight planning and economic studies purposes, Canadair believes that
     Nominal Performance payload can be used. The Nominal Performance relates to
     performance level published in the approved FAA Airplane Flight Manual and
     in the Flight Planning and Cruise Control Manual applicable to the Customer
     aircraft.

     These Nominal Performances are not guarantees and are not subject to
     guarantee compliance specified in paragraph 6.0.

                                       34
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     Considering the mission description specified above in 3.5.4 and the fixed
     quantities specified above in 3.5.5, the Nominal maximum number of
     passengers that can be carried for flight planning purposes is presented in
     the table below for each route.

<TABLE>
<CAPTION>
Case    FROM    TO     Route    Average    Equiv.       Cruise      NOM.
#                      Dist.    winds      still air    pressure    MAX.
                       (nm)     (kts)      dist.        altitude    PASSENGERS
                                           (nm)         (100 ft)
<S>     <C>     <C>    <C>      <C>        <C>          <C>         <C>

1       DRO     DEN    224      -13        232          [***]       [***]
2       DEN     DRO    283      -48        324          [***]       [***]
3       DEN     EGE    118      -54        139          [***]       [***]
4       EGE     DEN    130      4          128          [***]       [***]
5       DEN     BHM    999      29         931          [***]       [***]
6       BHM     DEN    967      -84        1218         [***]       [***]
7       DEN     BUF    1190     27         1114         [***]       [***]
8       BUF     DEN    1196     -79        1482         [***]       [***]
9       DEN     BZN    589      -67        707          [***]       [***]
10      BZN     DEN    508      10         494          [***]       [***]
11      DEN     DAY    964      29         898          [***]       [***]
12      DAY     DEN    964      -84        1212         [***]       [***]
13      DEN     ELP    514      -33        561          [***]       [***]
14      ELP     DEN    534      -28        576          [***]       [***]
15      DEN     FAR    583      -13        603          [***]       [***]
16      FAR     DEN    591      -45        667          [***]       [***]
17      DEN     GRR    890      22         842          [***]       [***]
18      GRR     DEN    897      -77        1105         [***]       [***]
</TABLE>

                                       35
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<PAGE>   96
<TABLE>
<CAPTION>
Case    FROM    TO     Route    Average    Equiv.       Cruise      NOM.
#                      Dist.    winds      still air    pressure    MAX.
                       (nm)     (kts)      dist.        altitude    PASSENGERS
                                           (nm)         (100 ft)
<S>     <C>     <C>    <C>      <C>        <C>          <C>         <C>
19      DEN     GSO    1240     35         1139         [***]       [***]
20      GSO     DEN    1280     -89        1631         [***]       [***]
21      DEN     GTF    552      -64        658          [***]       [***]
22      GTF     DEN    553      8          540          [***]       [***]
23      DEN     HSV    919      29         856          [***]       [***]
24      HSV     DEN    928      -86        1174         [***]       [***]
25      DEN     JAN    883      22         835          [***]       [***]
26      JAN     DEN    872      -80        1084         [***]       [***]
27      DEN     MSN    753      17         721          [***]       [***]
28      MSN     DEN    753      -74        921          [***]       [***]
29      DEN     MSO    616      -68        741          [***]       [***]
30      MSO     DEN    625      13         604          [***]       [***]
31      DEN     PNS    1129     24         1064         [***]       [***]
32      PNS     DEN    1121     -80        1391         [***]       [***]
33      DEN     RDU    1290     36         1183         [***]       [***]
34      RDU     DEN    1327     -89        1691         [***]       [***]
35      DEN     ROC    1236     27         1157         [***]       [***]
36      ROC     DEN    1245     -80        1543         [***]       [***]
37      DEN     SBN    852      24         803          [***]       [***]
38      SBN     DEN    857      -79        1064         [***]       [***]
39      DEN     SDF    907      30         842          [***]       [***]
40      SDF     DEN    935      -86        1183         [***]       [***]
41      DEN     TYS    1023     32         946          [***]       [***]
42      TYS     DEN    1046     -87        1329         [***]       [***]
43      DEN     ASE    97       -41        109          [***]       [***]
44      ASE     DEN    97       0          97           [***]       [***]
45      PHX     BHM    1274     36         1169         [***]       [***]
</TABLE>

                                       36
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                                                   Initials
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<PAGE>   97
<TABLE>
<CAPTION>
Case    FROM    TO     Route    Average    Equiv.       Cruise      NOM.
#                      Dist.    winds      still air    pressure    MAX.
                       (nm)     (kts)      dist.        altitude    PASSENGERS
                                           (nm)         (100 ft)
<S>     <C>     <C>    <C>      <C>        <C>          <C>         <C>
46      BHM     PHX    1306     -86        1652         [***]       [***]
47      PHX     BUF    1669     26         1569         [***]       [***]
48      BUF     PHX    1680     -76        2058         [***]       [***]
49      PHX     BZN    999      -40        1108         [***]       [***]
50      BZN     PHX    997      -17        1042         [***]       [***]
51      PHX     DAY    1400     28         1307         [***]       [***]
52      DAY     PHX    1408     -79        1745         [***]       [***]
53      PHX     ELP    330      15         316          [***]       [***]
54      ELP     PHX    311      -72        384          [***]       [***]
55      PHX     FAR    1133     -7         1154         [***]       [***]
56      FAR     PHX    1127     -45        1269         [***]       [***]
57      PHX     GRR    1381     19         1317         [***]       [***]
58      GRR     PHX    1387     -71        1677         [***]       [***]
59      PHX     GSO    1676     37         1535         [***]       [***]
60      GSO     PHX    1691     -87        2143         [***]       [***]
61      PHX     GTF    862      -40        957          [***]       [***]
62      GTF     PHX    860      -15        894          [***]       [***]
63      PHX     HSV    1260     35         1158         [***]       [***]
64      HSV     PHX    1285     -85        1623         [***]       [***]
65      PHX     JAN    1172     34         1080         [***]       [***]
66      JAN     PHX    1140     -84        1435         [***]       [***]
67      PHX     MSN    1295     14         1249         [***]       [***]
68      MSN     PHX    1295     -67        1548         [***]       [***]
69      PHX     MSO    836      -46        945          [***]       [***]
70      MSO     PHX    833      -9         853          [***]       [***]
71      PHX     PNS    1351     36         1239         [***]       [***]
72      PNS     PHX    1381     -85        1742         [***]       [***]
</TABLE>

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<TABLE>
<CAPTION>
Case    FROM    TO     Route    Average    Equiv.       Cruise      NOM.
#                      Dist.    winds      still air    pressure    MAX.
                       (nm)     (kts)      dist.        altitude    PASSENGERS
                                           (nm)         (100 ft)
<S>     <C>     <C>    <C>      <C>        <C>          <C>         <C>
73      PHX     RDU    1659     38         1516         [***]       [***]
74      RDU     PHX    1736     -89        2213         [***]       [***]
75      PHX     ROC    1720     26         1617         [***]       [***]
76      ROC     PHX    1728     -76        2117         [***]       [***]
77      PHX     SBN    1321     22         1252         [***]       [***]
78      SBN     PHX    1332     -74        1625         [***]       [***]
79      PHX     SDF    1343     30         1249         [***]       [***]
80      SDF     PHX    1340     -82        1675         [***]       [***]
81      PHX     TYS    1401     35         1287         [***]       [***]
82      TYS     PHX    1426     -86        1801         [***]       [***]
83      PHX     DRO    319      -6         324          [***]       [***]
84      DRO     PHX    310      -53        361          [***]       [***]
85      PHX     EGE    530      -13        549          [***]       [***]
86      EGE     PHX    466      -47        529          [***]       [***]
87      PHX     DSM    1003     12         972          [***]       [***]
88      DSM     PHX    1011     -67        1210         [***]       [***]
89      PHX     FAT    484      -67        584          [***]       [***]
90      FAT     PHX    467      9          456          [***]       [***]
91      PHX     ASE    426      -11        439          [***]       [***]
92      ASE     PHX    426      -49        487          [***]       [***]
</TABLE>

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                                       38
<PAGE>   99
                                     ANNEX 7

[***]

1.0      Bombardier agrees to provide [***] for an additional [***] CRJ 200
         Aircraft ( the "CRJ 200 [***] ")

         Buyer shall have the right to purchase the [***] on the same terms and
         conditions as applicable to the Option Aircraft which are described in
         the applicable supplement, subject to the condition that the Scheduled
         Delivery Months for the [***] shall be offered to Buyer subject to
         availability.

2.0      [***]

3.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

4.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

5.0      Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail

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<PAGE>   100
                             SUPPLEMENT NO. PA-497-2

                                       TO

                      MASTER PURCHASE AGREEMENT NO. PA-497

                                     BETWEEN

                                 BOMBARDIER INC.

                                       AND

                              MESA AIR GROUP, INC.

This Supplement when accepted and agreed to by Mesa Air Group, Inc. (the
"Buyer") will become part of the Master Purchase Agreement No. PA-497 entered
into between BOMBARDIER INC., a Canadian corporation represented by Bombardier
Aerospace, Regional Aircraft having offices at 123 Garratt Boulevard, Downsview,
Ontario, Canada ("Bombardier") and Mesa Air Group, Inc. ("Buyer") dated the 30th
day of April, 2001 (the "Agreement") and will evidence the further agreement of
the parties with respect to the matters set forth herein.

The provisions of the Agreement shall apply to the Bombardier products purchased
and sold in accordance with this Supplement. All capitalized terms herein,
unless defined herein, shall have the same respective meanings given to them in
the Agreement. This Supplement is subject to the provisions of the Agreement,
all of which are incorporated herein, provided that in the event of any
inconsistency between the provision of the Agreement and the provisions of this
Supplement, the latter shall take precedence.

ARTICLE 1.0       SUBJECT MATTER OF SALE

ARTICLE 1 SUPPLEMENTS TO ARTICLE 2 OF THE AGREEMENT

1.1      CRJ-700 Aircraft

         Subject to the provisions of the Agreement and this Supplement,
         Bombardier will sell and Buyer will purchase Twenty (20) firm aircraft
         model CL-600-2C10 CRJ-700 Aircraft manufactured pursuant to Type
         Specification number RAD-670-100 Rev. C dated December 1999 noted in
         Annex 1 hereto as same may be modified from time to time in accordance
         with the Agreement and this Supplement (the "Specification") as
         supplemented to reflect the incorporation of the Buyer selected
         optional features ("Buyer Selected Optional Features") set forth in
         Annex 1 and 2 hereto. This Supplement shall also apply to all option
         model CL-600-2C10 CRJ-700 aircraft purchased in accordance with Annex 3
         of this Supplement

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         2 (the firm aircraft and the option aircraft referred to in this
         Article 1.1 herein after collectively referred to as the "Aircraft").

ARTICLE 2.0       PRICE

ARTICLE 2 SUPPLEMENTS ARTICLE 4 OF THE AGREEMENT.

2.1      (a)      The base price for each of the CRJ-700 Aircraft (excluding the
         Buyer Selected Optional Features) Ex Works (Incoterms 2000)
         Bombardier's facilities in Dorval, Quebec is [***] expressed in [***]
         dollars.

         (b)      The base price of the Buyer Selected Optional Features for the
         CRJ-700 is [***] expressed in [***] dollars.

         The Aircraft base price for the CRJ-700 Aircraft shall be the base
         price for the Aircraft as stated in paragraph 2.1 (a), plus the base
         price of the Buyer Selected Optional Features as stated in paragraph
         2.1 (b) ("CRJ-700 Base Price").

2.2      The price of the CRJ-700 Aircraft on the Scheduled Delivery Date shall
         be the CRJ-700 Base Price adjusted for changes made pursuant to Article
         11 (only with respect to those changes for which a price adjustment is
         permitted) of the Agreement and any Non-CRJ Regulatory Changes pursuant
         to Article 8A.1 of the Agreement, and further adjusted to the Delivery
         Date to reflect economic fluctuations during the period from [***] to
         the Delivery Date of each Aircraft ("Aircraft Purchase Price"). Such
         adjustments shall be in accordance with the [***] and [***] ; and
         provided further that when adjusted, the Aircraft Purchase Price shall
         in no case be lower than the CRJ-700 Base Price, as stipulated in
         Article 2.1 herein.

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ARTICLE 3.0       DELIVERY PROGRAM

ARTICLE 3 SUPPLEMENTS ARTICLE 6 OF THE AGREEMENT.

3.1      The Aircraft set forth in Column 1 shall be offered for inspection and
         acceptance to Buyer at Bombardier's facility in Montreal, Quebec during
         the months set forth in Column 2 (the "Scheduled Delivery Dates").

<TABLE>
<CAPTION>
                      COLUMN # 1                               COLUMN # 2
<S>                                                       <C>            <C>
         First CRJ-700 Firm Aircraft                      [***]          [***]
         Second CRJ-700 Firm Aircraft                     [***]          [***]
         Third CRJ-700 Firm Aircraft                      [***]          [***]
         Fourth CRJ-700 Firm Aircraft                     [***]          [***]
         Fifth CRJ-700 Firm Aircraft                      [***]          [***]
         Sixth CRJ-700 Firm Aircraft                      [***]          [***]
         Seventh CRJ-700 Firm Aircraft                    [***]          [***]
         Eighth CRJ-700 Firm Aircraft                     [***]          [***]
         Ninth CRJ-700 Firm Aircraft                      [***]          [***]
         Tenth CRJ-700 Firm Aircraft                      [***]          [***]
         Eleventh CRJ-700 Firm Aircraft                   [***]          [***]
         Twelfth CRJ-700 Firm Aircraft                    [***]          [***]
         Thirteenth CRJ-700 Firm Aircraft                 [***]          [***]
         Fourteenth CRJ-700 Firm Aircraft                 [***]          [***]
         Fifteenth CRJ-700 Firm Aircraft                  [***]          [***]
         Sixteenth CRJ-700 Firm Aircraft                  [***]          [***]
         Seventeenth CRJ-700 Firm Aircraft                [***]          [***]
         Eighteenth CRJ-700 Firm Aircraft                 [***]          [***]
         Nineteenth CRJ-700 Firm Aircraft                 [***]          [***]
         Twentieth CRJ-700 Firm Aircraft                  [***]          [***]
</TABLE>

3.2      Buyer shall have the right to convert Buyer's obligation to purchase
         any or all of the last five (5) scheduled deliveries of CRJ-700
         Aircraft to the obligation to purchase Canadair Regional Jet Series 900
         aircraft (on the same terms as provided in the Agreement and the
         applicable supplement for the purchase of CRJ-900 Aircraft exercisable
         on a per Aircraft basis by delivery of notice to Bombardier not less
         than [***] prior to the first day of the Scheduled Delivery Month of
         the CRJ-700 Aircraft to which such conversion notice relates. Upon
         delivery of such conversion notice, Buyer shall have no further
         obligation to purchase the CRJ-700 Aircraft to which such notice
         relates and the deposit paid by Buyer with respect to such CRJ-700
         Aircraft shall become the deposit for the CRJ-900 Aircraft purchased in
         lieu, thereof.

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ARTICLE 4.0       DELIVERY DELAYS

ARTICLE 4 SUPPLEMENTS ARTICLES 9 AND 14 OF THE AGREEMENT.

4.1      If delivery of the CRJ-700 Aircraft is delayed [***] or by causes not
         excused under Article 13.1 of the Agreement, Bombardier shall pay
         liquidated damages as set forth in Article 9.6 or Article 14, as
         applicable, as calculated therein, in the amount of [***] for each day
         of delay, to a maximum of [***] for any such delayed Aircraft.

ARTICLE 4.2 SUPPLEMENTS ARTICLE 14.1 OF THE AGREEMENT.

4.2      The grace period referred to in Article 14.1 of the Agreement is [***]
         business days from the Readiness Date during the twelve (12) calendar
         month period beginning with the delivery month of the first CRJ-700
         Aircraft, and [***] business days from the Readiness Date thereafter.

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ARTICLE 5.0       SPARE PARTS

ARTICLE 5.0 SUPPLEMENTS 2.6.1 OF ANNEX A OF THE AGREEMENT.

For a period of [***] years from the date of delivery of the first CRJ-700
Aircraft, Bombardier shall [***] the prices in the Bombardier Spare Parts
Catalogue for all purchases for the CRJ-700 Aircraft made by Buyer during such
period by [***] . In addition, for a period of [***] years beginning on the date
of delivery of the first Aircraft, Bombardier shall provide to Buyer a discount
from the Bombardier Spare Parts Catalogue list prices for all purchases by Buyer
of not less than [***] below list price.

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ARTICLE 6.0       PRODUCT ENHANCEMENTS

Bombardier agrees to provide Buyer with a [***] discount in the price of any
product enhancements [***] developed and sold by Bombardier within [***] years
of execution of the Agreement.

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ARTICLE 7.0       PERFORMANCE DATA

Bombardier agrees to provide Buyer upon request, without further revision
service, performance data (CR00-291) for the CRJ-700 Aircraft [***]

In witness whereof this Supplement was signed on the date written hereof:

For and on behalf of                         For and on behalf of

MESA AIR GROUP, INC.                         BOMBARDIER INC.
                                             Bombardier Aerospace

Signed: ____________________                 Signed: ____________________
        Jonathan Ornstein                            H. Anne Woodyatt
        Chairman/CEO                                 Director, Contracts
        Mesa Air Group, Inc.                         Regional Aircraft

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<PAGE>   107
                                     ANNEX 1

                                  SPECIFICATION

--------------------------------------------------------------------------------
                            NUMBER RAD-670-100 REV. C

                                  DECEMBER 1999
--------------------------------------------------------------------------------

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                                     ANNEX 2

                        BUYER SELECTED OPTIONAL FEATURES

<TABLE>
<CAPTION>
CR NO.                         ITEM DESCRIPTION
--------------------------------------------------------------------------------
   CR#                              TITLE                                  [***]
--------------------------------------------------------------------------------
<S>          <C>                                                           <C>
00-213       Certification - FAA (FAR 25)                                  [***]
00-215       MTOW - 75,000 Lb  (Extended Range Version)                    [***]
11-200       Paint Scheme - Complex / Multiple                             [***]
21-201       Baggage - Temperature Control In Aft Comp't                   [***]
21-209       Air Conditioning - Ground Cart Connection                     [***]
23-231       VHF Comm - Third Radio Provisions (Collins)                   [***]
23-250       SELCAL System (Coltec)                                        [***]
25-03-201    Interior Finish & Decor - Custom Carpets                      [***]
25-03-202    Interior Finish & Decor - Custom Curtains                     [***]
25-03-203    Interior Finish & Decor - Custom Bulkheads                    [***]
25-21-274    PAX Seats - Business Class (Two Rows)                         [***]
25-22-201    PAX Seat - In-Arm Meal Trays (4 Seat Pair)                    [***]
25-22-203    PAX Seat - Leather Dress Covers (29 Seat Pairs)               [***]
25-22-204    PAX Seat - Recline Feature                                    [***]
25-24-212    Wardrobe - LH Forward with Roll-Up Door & Galley Workshelf    [***]
25-24-221    Storage Compartment - Rh Storage With Roll Up Door            [***]
25-25-211    Partition - Fixed Hard Class Divider (3 Abreast)              [***]
25-290       Baggage - Underfloor Retrieval System                         [***]
25-31-201    G1 Galley - Provisions For Snack And Hot Beverage Service     [***]
25-31-204    Galley - Storable Workshelf                                   [***]
25-34-201    Trolley - Atlas Std Half Size (Qty 4)                         [***]
25-34-203    Trolley - Waste, Atlas Std Half Size (Qty 1)                  [***]
25-34-210    Beverage Maker - Atlas Std (APC, Qty 2)                       [***]
31-271       Datalink - Provisions For Allied Signal                       [***]
33-203       Lights - Red Beacon                                           [***]
34-228       GPWS - Enhanced (Allied Signal)                               [***]
34-235       FMS - Single, ACARS Compatible (Collins FMS-4200)             [***]
34-250       GPS - Single (Collins GPS-4000)                               [***]
34-260       Radio Altimeter - Second (Collins)                            [***]
34-262       Altimeter-Baro Setting Flashing At 18,000 Ft.                 [***]
35-201       Oxygen - PAX Extended Duration Chemical Generators            [***]
38-210       Water - Forward System (For Galley 1)                         [***]
79-201       Engine Oil - Remote Replenishment System                      [***]
             TOTAL TECHNICAL FEATURES                                      [***]
</TABLE>

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                                     ANNEX 3

                                 OPTION AIRCRAFT

1.0      Bombardier hereby agrees to grant Buyer the option to purchase an
         additional Twenty (20) CRJ-700 Aircraft as described in Article 1 of
         this Supplement (the "Option Aircraft") for the benefit of Buyer under
         the following general conditions:

         1.1      The price for each of the CRJ-700 Option Aircraft ("CRJ-700
                  Option Aircraft Purchase Price") shall be the CRJ-700 Base
                  Price adjusted for changes made pursuant to Article 11 of the
                  Agreement (only with respect to changes for which a price
                  adjustment is permitted) and any Non-CRJ Regulatory Changes
                  pursuant to Article 8A of the Agreement, and further adjusted
                  to the Delivery Date to reflect [***] to the Delivery Date of
                  each CRJ-700 Option Aircraft. Such adjustments shall be based
                  on the economic adjustment formula as stated in Appendix 1 to
                  the Agreement ("Economic Adjustment Formula") [***] but when
                  adjusted, the CRJ-700 Option Aircraft Purchase Price shall in
                  no case be lower than the CRJ-700 Base Price, as stipulated in
                  Article 2.1 herein.

         1.2      Buyer shall exercise its right to purchase the CRJ-700 Option
                  Aircraft by providing to Bombardier with a definitive
                  irrevocable written notice of exercise no later than [***]
                  prior to the Scheduled Delivery Month of the first CRJ-700
                  Option Aircraft (the "Exercise Date") accompanied by the
                  Option Deposit (as defined in Article 1.3 herein) for the
                  applicable CRJ-700 Option Aircraft. The option to purchase the
                  applicable Option Aircraft shall become null and void in the
                  event Buyer fails to give such notice of exercise by the
                  Exercise Date.

         1.3      Buyer shall pay to Bombardier a deposit of [***] for the
                  applicable CRJ-700 Option Aircraft (the "Option Deposit") on
                  the exercise of the option for such CRJ-700 Option Aircraft.

         1.4      The Scheduled Delivery Months of the Option Aircraft are as
                  follows:

<TABLE>
<S>                                                 <C>          <C>
         First CRJ-700 Option Aircraft              [***]        [***]
         Second CRJ-700 Option Aircraft             [***]        [***]
         Third CRJ-700 Option Aircraft              [***]        [***]
         Fourth CRJ-700 Option Aircraft             [***]        [***]
         Fifth CRJ-700 Option Aircraft              [***]        [***]
         Sixth CRJ-700 Option Aircraft              [***]        [***]
         Seventh CRJ-700 Option Aircraft            [***]        [***]
         Eighth CRJ-700 Option Aircraft             [***]        [***]
</TABLE>

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<TABLE>
<S>                                                 <C>          <C>
         Ninth CRJ-700 Option Aircraft              [***]        [***]
         Tenth CRJ-700 Option Aircraft              [***]        [***]
         Eleventh CRJ-700 Option Aircraft           [***]        [***]
         Twelfth CRJ-700 Option Aircraft            [***]        [***]
         Thirteenth CRJ-700 Option Aircraft         [***]        [***]
         Fourteenth CRJ-700 Option Aircraft         [***]        [***]
         Fifteenth CRJ-700 Option Aircraft          [***]        [***]
         Sixteenth CRJ-700 Option Aircraft          [***]        [***]
         Seventeenth CRJ-700 Option Aircraft        [***]        [***]
         Eighteenth CRJ-700 Option Aircraft         [***]        [***]
         Nineteenth CRJ-700 Option Aircraft         [***]        [***]
         Twentieth CRJ-700 Option Aircraft          [***]        [***]
</TABLE>

2.0      Upon exercise of Buyer's right to purchase the CRJ-700 Option Aircraft,
         the parties shall deem all definitions, terms and conditions of the
         Agreement and this Supplement as being applicable to the purchase of
         the CRJ-700 Option Aircraft, unless expressly noted otherwise.

[***]

4.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

5.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

                                       11
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                                     ANNEX 4

                           AIRCRAFT CREDIT MEMORANDUM

1.0      Bombardier shall issue to Buyer a credit memorandum in the amount of
         [***] (the "CRJ-700 Credit Memorandum") expressed in [***] United
         States Dollars, concurrent with the actual delivery and the payment in
         full of the balance of the CRJ-700 Aircraft purchase price payable on
         delivery of each firm or option CRJ-700 Aircraft (as reduced by the
         amount of the CRJ-700 Credit Memorandum). The CRJ-700 Credit Memorandum
         shall be adjusted to the date of delivery to reflect economic
         fluctuations during the period from [***] to the respective delivery
         date of the applicable CRJ-700 Aircraft. [***] . Each CRJ-700 Credit
         Memorandum shall be applied by Buyer and Bombardier to reduce the
         balance of the purchase price on delivery of the firm or option CRJ-700
         Aircraft to which it relates.

[***]

3.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

4.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

5.0      Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail.

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                                     ANNEX 5

                            INTENTIONALLY LEFT BLANK

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                                     ANNEX 6

                     CRJ-700 AIRCRAFT PERFORMANCE GUARANTEES

1.0      AIRCRAFT CONFIGURATION

         The guarantees listed below are based on the CRJ-700ER Series 701
         Aircraft configuration as defined in Bombardier Aerospace Type
         Specification RAD-670-100 issue C, and equipped with GE CF34-8C1
         engines as defined in GE document CF34-8C1 Installation Manual
         reference GEK 105093. The weight data corresponds to the [***] MTOW
         design weight option. Appropriate adjustments shall be made for any
         changes in configuration of the Aircraft which have been approved by
         the Buyer and Bombardier Aerospace, Regional Aircraft ("Bombardier") or
         otherwise allowed by the Purchase Agreement and which cause changes to
         the performance of the Aircraft.

2.0      AIRPORT CONDITIONS

         All maximum take-off weight calculations are based on the conditions
         described below:

         - Take-off with zero bleeds, APU on
         - APR armed
         - Dry runway
         - Wind                         : 0 kts
         - Clearway                     : 0 ft
         - Stopway                      : 0 ft
         - Flaps                        : optimum 8 or 20 deg
         - Line-up allowance            : 82 ft (25 m)
         - Obstacles are defined from start of runway

         Airport           : PHX, PHOENIX SKY HARBOR INTL
         Runway            : 26R
         Slope             : -0.227 %
         TORA              : 11000 ft
         Elev.             : 1133 ft
         Temper.           : 109(degree)F
         Obst.             :        #         distance (ft)       height (ft)
                                    1         11960               -8

         Airport           : CVG, CINCINNATI / NORTHERN KY INTL
         Runway            : 09
         Slope             : -0.03 %
         TORA              : 10000 ft

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         Elev.             : 897 ft
         Temper.           : 45(degree)F
         Obst.             :        #         distance (ft)       height (ft)
                                    1         12156               76
                                    2         12989               102
                                    3         14354               77
                                    4         15190               103
                                    5         54587               250
                                    6         56785               250

         Airport           : MEM, MEMPHIS INTL
         Runway            : 09
         Slope             : 0.436 %
         TORA              : 8936 ft
         Elev.             : 335 ft
         Temper.           : 54(degree)F
         Obst.             :        #         distance (ft)       height (ft)
                                    1         10037               51
                                    2         10590               69
                                    3         11843               92
                                    4         14059               137
                                    5         25062               186

         Airport           : MEX, LIC BENITO JUAREZ INTL
         Runway            : 05R
         Slope             : 0.071 %
         TORA              : 12796 ft
         Elev.             : 7341 ft
         Temper.           : 80(degree)F and 72(degree)F
         Obst.             : none

         Airport           : YYC, CALGARY INTL
         Runway            : 16
         Slope             : -0.103 %
         TORA              : 12675 ft
         Elev.             : 3557 ft
         Temper.           : 33(degree)F

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         Obst.             :        #         distance (ft)       height (ft)
                                    1         13690               -2
                                    2         14040               10
                                    3         44342               119

         Airport           : DSM, DES MOINES INTL
         Runway            : 13L
         Slope             : 0.500 %
         TORA              : 9001 ft
         Elev.             : 957 ft
         Temper.           : 38(degree)F
         Obst.             :        #         distance (ft)       height (ft)
                                    1         9675                52
                                    2         9918                55
                                    3         10486               68
                                    4         11148               81

         Airport           : TUL, TULSA INTL
         Runway            : 18L
         Slope             : 0.17 %
         TORA              : 10000 ft
         Elev.             : 677 ft
         Temper.           : 52(degree)F
         Obst.             :        #         distance (ft)       height (ft)
                                    1         11417               37

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3.0      PERFORMANCE GUARANTEE

3.1      TAKE-OFF PERFORMANCE

         FAR take-off field length, at a take-off gross weight of [***] kg) at
         the start of ground run, at Phoenix elevation (1133 ft) with zero
         runway slope, no obstacles, zero wind, ISA conditions, flaps 20o, shall
         be not more than 5950 feet (1813 m).

3.2      LANDING PERFORMANCE

         FAR landing field length, at a landing weight of[***] kg), Phoenix
         elevation (1133 ft), ISA conditions, no obstacles, shall be not more
         than [***] feet ([***] m).

3.3      SPEED

         Level flight airspeed at [***] kg) gross weight, at a pressure altitude
         of [***] ft, using maximum cruise thrust with A.C.U. bleeds only, in
         ISA conditions shall not be less than [***] M, [***] knots ([***]
         km/hr).

3.4      SPECIFIC AIR RANGE

         The nautical air miles per pound of fuel in ISA conditions, at [***] ft
         pressure altitude, at an aircraft gross weight of [***] lb ([***] kg),
         at a true Mach number of [***] M shall be not less than [***] nam/lb
         ([***] km/kg).

3.5      MISSION PERFORMANCE

3.5.1    MAXIMUM RANGE GUARANTEE

         When operated under the conditions specified below with the fixed
         quantities and allowances specified in paragraph 3.5.3, the maximum
         still air range (stage length) out of Phoenix shall be not less than
         [***] nautical miles when carrying a fixed payload of [***] lb
         equivalent to[***] passengers at [***] lb.

         The maximum take-off weight out of Phoenix (PHX) is based on the
         conditions specified in paragraph 2.0 and is in compliance with FAR 25
         take-off requirements.

         The mission is flown in ISA conditions throughout.

         Climb is made starting at [***] ft to [***] ft initial cruise pressure
         altitude using a climb speed schedule of [***] KCAS/[***] M ([***] KCAS
         is maintained until the altitude where M is reached).

         Initial cruise is at [***] ft pressure altitude at an average cruise
         Mach number of [***] M. Thrust during cruise is not to exceed maximum
         cruise thrust.

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         Step climb is made starting at [***] ft to ft final cruise pressure
         altitude using a climb speed schedule of [***] KCAS/ [***] M.

         Final cruise is at [***] ft pressure altitude at an average cruise Mach
         number of [***] M.

         Descent is made from [***] ft pressure altitude to sea level using a
         descent speed schedule of [***] M / [***] CAS.

         The fixed fuel reserves, per paragraph 3.5.3, are [***] lb.

3.5.2    BLOCK FUEL AND MAXIMUM PAYLOAD GUARANTEES

         When operated under the conditions specified in paragraph 3.5.2.1 with
         the fixed quantities and allowances specified in paragraph 3.5.3, the
         maximum number of passengers shall not be less than and block fuel
         burnt shall not be more than the values presented in Table 1 below for
         each mission.

                   TABLE 1: PAYLOAD AND BLOCK FUEL GUARANTEES

<TABLE>
<CAPTION>
FROM             TO     Route    Average    Equiv.       Cruise       NUMBER OF    BLOCK FUEL    Fixed Fuel
                        Dist.    winds      still air    pressure     PASSEN-      (LB)          Reserves
                        (nm)     (kts)      range        altitude     GERS                       (lb)
                                            (nm)         (100 ft)
<S>              <C>    <C>      <C>        <C>          <C>          <C>          <C>           <C>
PHX              CVG    1360     5          1344         370          [***]        [***]         [***]
PHX              MEM    1095     -1         1097         370          [***]        [***]         [***]
PHX              MEX    1088     -10        1114         370          [***]        [***]         [***]
PHX              YYC    1064     -11        1093         390          [***]        [***]         [***]
PHX              DSM    997      6          982          370          [***]        [***]         [***]
PHX              TUL    810      0          810          370          [***]        [***]         [***]
CVG              PHX    1360     -84        1696         350 / 390    [***]        [***]         [***]
MEM              PHX    1095     -88        1385         350 / 390    [***]        [***]         [***]
MEX              PHX    1088     -55        1251         390          [***]        [***]         [***]
(80(degree)F)
MEX              PHX    1088     -55        1252         350 / 390    [***]        [***]         [***]
(72(degree)F)
YYC              PHX    1064     -9         1087         370          [***]        [***]         [***]
DSM              PHX    997      -71        1201         350 / 390    [***]        [***]         [***]
TUL              PHX    810      -83        1014         390          [***]        [***]         [***]
</TABLE>

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3.5.2.1  MISSION DESCRIPTION

         The equivalent still air range (stage length) is the actual route
         distance corrected for the average winds. Head winds are negative.

         The maximum take-off weight for each departure airport ("from") is
         based on the conditions specified in paragraph 2.0 and is in compliance
         with FAR 25 take-off requirements.

         The missions are flown in ISA conditions throughout.

         Climb is made starting at the airport elevation to the initial cruise
         pressure altitude specified in Table 1 above using a climb speed
         schedule of [***] KCAS/ [***] M.

         Cruise is at the pressure altitude specified in Table 1 at an average
         cruise Mach number of [***] M. Thrust during cruise is not to exceed
         maximum cruise thrust.

         When a second cruise pressure altitude is specified in Table 1, a [***]
         ft step climb from the first to the second pressure altitude is made
         using a climb speed schedule of [***] KCAS/ [***] M. It is followed by
         a cruise at the second pressure altitude at an average cruise Mach
         number of [***] M.

         Descent is made from the final cruise pressure altitude in Table 1 to
         sea level using a descent speed schedule of [***] M / [***] KCAS.

3.5.3    FIXED QUANTITIES AND ALLOWANCE

         For the purpose of this guarantee the following are fixed quantities
         and allowances:

             -   15 minutes engine start and taxi out fuel                 [***]

             -   1 minute take-off fuel including acceleration             [***]
                 to initial climb speed (no distance credit)

             -   5 minute approach and landing fuel (no distance credit)   [***]

             -   10 minutes taxi in fuel: taken from the reserves          [***]

             -   Usable reserve fuel remaining upon completion
                 of landing phase, based on the reserve profile
                 specified below:

                 1) 100 nm (185 km) diversion including:

                   i)   climb from destination airport elevation to optimum
                        altitude at a speed of [***] KCAS

                   ii)  cruise at optimum altitude at long range cruise speed
                        (LRC)

                   iii) descent to sea level at a speed of [***] KCAS.

                 2) plus fuel equivalent to [***] minute hold at [***] feet and
                    minimum drag speed (VMD).

         The stage length is defined as the sum of the climb, cruise and descent
         distances.

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         M denotes true Mach number.

         Block fuel includes engine start, taxi out, take-off, climb, cruise,
         step climb, descent, approach and landing and taxi in.

         The maximum payload and fuel burn guarantees are based on the fixed
         estimated Operating Weight Empty (O.W.E.) of [***] lb ([***] kg) and on
         the passenger weight allowance of [***] lb ([***] kg).

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4.0      WEIGHTS

4.1      MAXIMUM ZERO FUEL WEIGHT GUARANTEE

         The Maximum Zero Fuel Weight (M.Z.F.W.) shall not be less than [***] lb
         ([***] kg).

4.2      MAXIMUM LANDING WEIGHT GUARANTEE

         The Maximum Landing Weight (M.L.W.) shall not be less than [***] lb
         ([***] kg).

4.3      MAXIMUM TAKE-OFF WEIGHT GUARANTEE

         The Maximum Take-off Weight (M.T.O.W.) shall not be less than [***] lb
         ([***] kg).

4.4      OPERATING WEIGHT EMPTY AND CENTER OF GRAVITY GUARANTEES

         The Operating Weight Empty is guaranteed to not exceed [***] lb.
         Included within this guarantee are weight and center of gravity
         allowances for operating items listed below and customer defined
         options described below. Should these allowances differ from the actual
         values at delivery, appropriate corrections are to be made to the
         guaranteed weight (i.e. the Seller can not guarantee the weight of
         these allowances).

         The center of gravity (CG) range at O.W.E. shall have a maximum forward
         limit of [***] . % of Mean Aerodynamic Chord (MAC) and a maximum aft
         limit of [***] % MAC (subject to the appropriate corrections noted
         above).

                    TABLE 2: OPERATING WEIGHT EMPTY BUILD-UP

<TABLE>
<CAPTION>
                               ITEM                                      WEIGHT             CG                  %
                           DESCRIPTION
                                                                     (LB)    (KG)      (IN)       (M)          MAC
<S>                                                                  <C>     <C>       <C>        <C>          <C>
--------------------------------------------------------------------------------------------------------------------
MANUFACTURER'S WEIGHT EMPTY (BARE)                                   [***]   [***]     [***]      [***]        [***]
--------------------------------------------------------------------------------------------------------------------
Economy Class Seat                                                   [***]   [***]     [***]      [***]
Business Class Seat                                                  [***]   [***]     [***]      [***]
                                                                     [***]   [***]     [***]      [***]
                                                                     [***]   [***]     [***]      [***]
Entrance Storage Compartment                                         [***]   [***]     [***]      [***]
                                                                     [***]   [***]     [***]      [***]
                                                                     [***]   [***]     [***]      [***]
Galley (G1)                                                          [***]   [***]     [***]      [***]
                                                                     [***]   [***]     [***]      [***]
LH Wardrobe (26 in.)                                                 [***]   [***]     [***]      [***]
</TABLE>

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<TABLE>

<S>                                                                  <C>     <C>       <C>        <C>          <C>
Forward RH Storage Compartment

Cabin Carpet

Aft Lavatory

Emergency Equipment (Basic)
Installed Options
----------------------------------------------------------------------------------------------------------------------
M.W.E DELIVERED (MESA AIR)                                           [***]   [***]     [***]      [***]        [***]
----------------------------------------------------------------------------------------------------------------------
                                                                     [***]   [***]     [***]      [***]
Addition of Unusable Fuel & Engine Oil                               [***]   [***]     [***]      [***]
Unusable Fuel (21.5 USG)
Engine Oil (5.8 USG)
----------------------------------------------------------------------------------------------------------------------
TRUE EMPTY WEIGHT                                                    [***]   [***]     [***]      [***]        [***]
----------------------------------------------------------------------------------------------------------------------
                                                                     [***]   [***]     [***]      [***]
Addition of Operating Items                                          [***]   [***]     [***]      [***]
                                                                     [***]   [***]     [***]      [***]
Flight & Cabin Crew                                                  [***]   [***]     [***]      [***]
Pilot & Copilot                                                      [***]   [***]     [***]      [***]
Cockpit Crew Baggage (20 lb/person)                                  [***]   [***]     [***]      [***]
Flight Manuals                                                       [***]   [***]     [***]      [***]
                                                                     [***]   [***]     [***]      [***]
                                                                     [***]   [***]     [***]      [***]

Galley inserts & Consumables
Galley G1
4 1/2 Size Meal/Beverage Cart
1 1/2 Size Waste Cart
2 Beverage Maker

Galley Water (11 USG)
Lavatory Water (10 USG)
Toilet Fluids (2.3 USG)
----------------------------------------------------------------------------------------------------------------------
MINIMUM FLIGHT WEIGHT                                                [***]   [***]     [***]      [***]        [***]
----------------------------------------------------------------------------------------------------------------------
                                                                     [***]   [***]     [***]      [***]
Consumables                                                          [***]   [***]     [***]      [***]
Galley G1                                                            [***]   [***]     [***]      [***]
                                                                     [***]   [***]     [***]      [***]
Forward Attendant
Aft Attendant
Cabin Crew Baggage (20 lb/person)
</TABLE>

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<TABLE>

<S>                                                                  <C>     <C>       <C>        <C>          <C>
O.W.E. (EST.)                                                        [***]   [***]     [***]      [***]        [***]
O.W.E. (GUARANTEE)                                                   [***]   [***]
</TABLE>

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5.0       PERFORMANCE GUARANTEE CONDITIONS

5.1      All guaranteed performance data are based on the ICAO International
         Standard Atmosphere (ISA) unless noted otherwise. Altitudes are
         pressure altitudes.

5.2      FAR take-off and landing performance are based on the requirements of
         FAR 25 amended with FAA NPRM 93-8 document.

5.3      Take-off and landing performance guarantees are based on operation from
         hard surfaced, level and dry runways with no wind, no line-up allowance
         and no obstacle unless noted otherwise and with anti-skid and automatic
         spoilers operative.

5.4      When establishing the take-off performance, no air shall be bled from
         the engine(s) for cabin air conditioning or anti-icing and APR shall be
         armed and available when one engine fails. The APU shall be on.

5.5      Speed, specific air range, and the climb, cruise, and descent portion
         of the mission guarantee include allowance for normal engine bleed and
         power extraction. Normal engine bleed is defined as the bleed required
         to maintain a cabin pressure altitude not exceeding [***] feet at the
         maximum operating altitude with an average cabin ventilation rate of
         not less than [***] /min ([***] m3 /min) and a cabin temperature of
         [***] C).

5.6      Normal power extraction assumes a load of 45 HP per engine with both
         engines operative and a load of 65 HP with one engine inoperative.

5.7      Fuel density is assumed to be [***] pounds / US gallon ([***] kg/l).
         All performance guarantees are based on the use of a fuel with a lower
         heating value (LHV) of [***] BTU / pound ([***] kilojoules/kg) and on
         an Aircraft centre of gravity location of [***] % of the mean
         aerodynamic chord.

5.8      All guarantees are contingent upon engine acceptance test performance
         acceptable to Bombardier Aerospace, Regional Aircraft and are
         applicable to a new airframe - engine combination only.

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6.0      GUARANTEE COMPLIANCE

6.1      Compliance with take-off and landing performance guarantees shall be
         demonstrated by reference to the approved Transport Canada Aircraft
         Flight Manual adjusted to reflect any differences due to change in
         certification requirements or interpretation thereof.

6.2      Compliance with speed, specific air range and mission performance
         guarantees shall be established by calculations based on flight test
         data obtained for an aircraft configuration similar to that defined by
         this specification and shall be demonstrated by reference to the Flight
         Planning and Cruise Control Manual. In addition, at Buyer's request,
         compliance with the specific air range guarantee of paragraph 3.4 will
         be verified by flight test during the acceptance flight on no more than
         two aircraft. Seller will provide a test report to Buyer no later than
         15 days after the test. Buyer must notify the Seller of the aircraft to
         be flight tested no later than two months before delivery.

6.3      Data derived from tests shall be adjusted as required by conventional
         methods of correction, interpolation or extrapolation in accordance
         with established aeronautical practices to show compliance with the
         performance guarantees.

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7.0      REMEDIES

7.1      In the event a shortfall in the guarantees contained herein, Bombardier
         reserves the right to carry out additional flight test measurements on
         a subsequent Aircraft, which may be specially instrumented for this
         purpose, with the objective of identifying accurately the cause of the
         shortfall and to develop corrective measures. Such measures shall be
         developed within a period of twelve (12) months from discovery and
         identification of a shortfall (or such other longer period as may be
         mutually agreed in view of the corrective measures involved).

7.2      If, during the period commencing at delivery of the First Aircraft and
         expiring [***] years later, the guaranteed Operating Weight Empty
         mentioned herein is exceeded as a result of (a) Airworthiness
         Directives, or (b) Service Bulletins recommended by Bombardier as
         necessary either to correct a defect that is the fault of Bombardier or
         Bombardier"s supplier, restore reliability or maintainability to
         guaranteed levels, or maintain performance specified herein, c)
         Regulatory Changes, d) permitted changes, then :

         1)       [***]

         2)       [***] ;

                  (i)      Bombardier and Buyer will promptly meet to verify the
                           allegation of the deficiency.

                  (ii)     If the allegation is found to be true and a
                           deficiency is acknowledged, then Bombardier will
                           promptly initiate steps to correct the deficiency,
                           and

                  (iii)    Until such time as the identified and acknowledged
                           deficiency is corrected Bombardier will provide to
                           Buyer as liquidated damages and not as a penalty (the
                           "Weight Remedy") credit memoranda (or cash less any
                           amounts owed to Bombardier by Buyer), to be used for
                           the purchase of goods and services from Bombardier in
                           amounts based on the following formula:

         Remedy = [***]

         Where:

         Remedy    =       The amount Bombardier shall pay Buyer as liquidated
                           damages and not as a penalty, in the form of spare
                           parts and/or services

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                           credit memorandum, per calendar year that the Buyer
                           operates each Aircraft during which the guarantee has
                           been broken. Remedy shall begin the year in which the
                           Operating Weight Empty discrepancy has been
                           discovered, subject to a maximum for the term of this
                           guarantee of $100,000 per Aircraft.

         [***] [***] [***] [***] [***]

         In the event the CG limits change which results in reduced payload
         capability for each affected Aircraft, a remedy shall apply as
         liquidated damages and not as a penalty, which shall be computed by
         applying the same formula as the Weight Remedy, except that the WI
         shall be the number of pounds of ballast (only the amount of ballast
         which results in exceedance of the guaranteed Operating Weight Empty)
         required to restore original CG limits to each affected Aircraft.

         If Buyer adds to or modifies the Aircraft for reasons other than those
         given in the previous paragraph, with the result being an increase in
         the Operating Weight Empty, then the Parties shall amend the Guaranteed
         Operating Weight Empty.

7.3      Bombardier's maximum exposure under this Article 7.2 is $[***] and in
         no event, will Bombardier's payout under this Article 7.2 exceed such
         amount.

8.0      In the event of termination of the Agreement and/or the Supplement,
         this Annex shall become automatically null and void.

9.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

10.0     This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

11.0     Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail

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                                     ANNEX 7

                            Intentionally Left Blank

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                                     ANNEX 8

                                      [***]

1.0      [***]

2.0      [***]

3.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

4.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

5.0      Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail

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                             SUPPLEMENT NO. PA-497-3

                                       TO

                      MASTER PURCHASE AGREEMENT NO. PA-497

                                     BETWEEN

                                 BOMBARDIER INC.

                                       AND

                              MESA AIR GROUP , INC.

This Supplement when accepted and agreed to by Mesa Air Group, Inc. (the
"Buyer") will become part of the Master Purchase Agreement No. PA-497 entered
into between BOMBARDIER INC., a Canadian corporation represented by Bombardier
Aerospace, Regional Aircraft having offices at 123 Garratt Boulevard, Downsview,
Ontario, Canada ("Bombardier") and Mesa Air Group, Inc. ("Buyer") dated the 30th
day of April, 2001 (the "Agreement") and will evidence the further agreement of
the parties with respect to the matters set forth herein.

The provisions of the Agreement shall apply to the Bombardier products purchased
and sold in accordance with this Supplement. All capitalized terms herein,
unless defined herein, shall have the same respective meanings given to them in
the Agreement. This Supplement is subject to the provisions of the Agreement,
all of which are incorporated herein, provided that in the event of any
inconsistency between the provision of the Agreement and the provisions of this
Supplement, the latter shall take precedence.

ARTICLE 1.0                SUBJECT MATTER OF SALE

ARTICLE 1 SUPPLEMENTS TO ARTICLE 2 OF THE AGREEMENT

1.1      CRJ-900 Aircraft

         Subject to the provisions of the Agreement and this Supplement,
         Bombardier will sell and Buyer will purchase Twenty (20) CRJ-900 firm
         Aircraft pursuant to Type Specification number RAD-690-100 dated
         December 1999 noted in Annex 1 hereto as same may be augmented from
         time to time with a complete CRJ-900 type specification to be defined
         and delivered to Buyer no later than six (6) months prior to the
         Scheduled Delivery Month of Buyer's first CRJ-900 Aircraft in
         accordance with the Agreement and this Supplement (the "Specification")
         as supplemented to reflect the incorporation of the Buyer selected
         optional features ("Buyer Selected Optional Features") set forth in
         Annex 1 and 2 hereto. This Supplement shall also apply to all option
         CRJ-900 purchased in accordance with

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         Annex 3 of this Supplement 3 (the firm aircraft and the option aircraft
         referred to in this Article 1.1 hereinafter collectively referred to as
         the "Aircraft").

ARTICLE  2.0      PRICE

ARTICLE 2 SUPPLEMENTS ARTICLE 4 OF THE AGREEMENT.

2.1      (a)      The base price for each of the CRJ-900 Aircraft (excluding the
                  Buyer Selected Optional Features) Ex Works (Incoterms 2000)
                  Bombardier's facilities in Dorval, Quebec is [***] ) expressed
                  in July 1, 2000 Dollars.

         (b)      The base price of the Buyer Selected Optional Features for the
                  CRJ-900 is [***] expressed in [***] Dollars.

                  The Aircraft base price for the CRJ-900 Aircraft shall be the
                  base price for the Aircraft as stated in paragraph 2.1 (a),
                  plus the base price of the Buyer Selected Optional Features as
                  stated in paragraph 2.1 (b) ("CRJ-900 Base Price").

2.2       The price of the CRJ-900 Aircraft on the Scheduled Delivery Date shall
          be the CRJ-900 Base Price adjusted for changes made pursuant to
          Article 11 (only with respect to those changes for which a price
          adjustment is permitted) of the Agreement and any Non-CRJ Regulatory
          Changes pursuant to Article 8A.1 of the Agreement, and further
          adjusted to the Delivery Date to reflect economic fluctuations during
          the period from [***] to the Delivery Date of each Aircraft ("Aircraft
          Purchase Price"). Such adjustments shall be in accordance [***] shall
          be made with respect to the period by which delivery of the Aircraft
          was delayed as a result of such Excusable Delay, and [***] , with
          respect to the period by which delivery of the Aircraft was delayed as
          a result of such Non-Excusable Delay; and provided further that when
          adjusted, the Aircraft Purchase Price shall in no case be lower than
          the CRJ-900 Base Price, as stipulated in Article 2.1 herein.

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ARTICLE  3.0      DELIVERY PROGRAM

ARTICLE 3 SUPPLEMENTS ARTICLE 6 OF THE AGREEMENT.

3.1       The Aircraft set forth in Column 1 shall be offered for inspection and
          acceptance to Buyer at Bombardier's facility in Montreal, Quebec
          during the quarterly periods set forth in Column 2, Bombardier shall
          also provide Scheduled Delivery Months for the CRJ-900 Aircraft in
          calendar months with notice of no less than [***] prior to the first
          day of the calendar quarter in which the first scheduled delivery is
          to occur .

<TABLE>
<CAPTION>
                              COLUMN # 1                                  COLUMN # 2
<S>                                                             <C>                    <C>
          First CRJ-900 Aircraft                                [***]                  [***]
          Second CRJ-900 Aircraft                               [***]                  [***]
          Third CRJ-900 Aircraft                                [***]                  [***]
          Fourth CRJ-900 Aircraft                               [***]                  [***]
          Fifth CRJ-900 Aircraft                                [***]                  [***]
          Sixth CRJ-900 Aircraft                                [***]                  [***]
          Seventh CRJ-900 Aircraft                              [***]                  [***]
          Eighth CRJ-900 Aircraft                               [***]                  [***]
          Ninth CRJ-900 Aircraft                                [***]                  [***]
          Tenth CRJ-900 Aircraft                                [***]                  [***]
          Eleventh CRJ-900 Aircraft                             [***]                  [***]
          Twelfth CRJ-900 Aircraft                              [***]                  [***]
          Thirteenth CRJ-900 Aircraft                           [***]                  [***]
          Fourteenth CRJ-900 Aircraft                           [***]                  [***]
          Fifteenth CRJ-900 Aircraft                            [***]                  [***]
          Sixteenth CRJ-900 Aircraft                            [***]                  [***]
          Seventeenth CRJ-900 Aircraft                          [***]                  [***]
          Eighteenth CRJ-900 Aircraft                           [***]                  [***]
          Nineteenth CRJ-900 Aircraft                           [***]                  [***]
          Twentieth CRJ-900 Aircraft                            [***]                  [***]
</TABLE>

3.2      Buyer shall have the right to convert Buyer's obligation to purchase
         any or all of the last five (5) scheduled deliveries of CRJ-900
         Aircraft to the obligation to purchase Canadair Regional Jet Series 700
         aircraft (on the same terms as provided in the Agreement for the
         purchase of CRJ-700 Aircraft exercisable on a per Aircraft basis by
         delivery of notice to Bombardier not less than [***] prior to the first
         day of the Scheduled Delivery Month of the CRJ-900 Aircraft to which
         such conversion notice relates. Upon delivery of such conversion
         notice, Buyer shall have no further obligation to purchase the CRJ-900
         Aircraft to which such notice relates and the deposit paid by Buyer
         with respect to such CRJ-900 Aircraft shall become the deposit for the
         CRJ-700 Aircraft purchased in lieu thereof.

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3.3       As the CRJ-900 is a new aircraft type, if initial Transport Canada or
          FAA type certification of the CRJ-900 Aircraft type is delayed,
          Bombardier reserves the right to defer on one occasion the CRJ-900
          Aircraft Delivery Dates of any CRJ-900 Aircraft so affected by [***]
          from the Scheduled Delivery Month of the applicable Aircraft dues as a
          direct result of any delays in obtaining Transport Canada or FAA type
          certification of the CRJ-900 Aircraft or the effects thereof, if any,
          or directives from either of the said authorities resulting in
          additional work required on the said Aircraft by the airworthiness
          authorities in order to meet airworthiness regulations, by providing
          Buyer with [***] prior written notice. Bombardier agrees that, in the
          event of such a delay, it shall use commercially reasonable efforts to
          resume the originally agreed upon delivery schedule as soon as
          practicable thereafter, and, until such schedule is resumed,
          Bombardier shall; (i) [***] shall also provide Scheduled Delivery
          Months for the CRJ-900 Aircraft in calendar months with notice of no
          less than [***] prior notice to the first day of the calendar quarter
          in which the first scheduled delivery is to occur.

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ARTICLE  4.0      DELIVERY  DELAYS

ARTICLE 4 SUPPLEMENTS ARTICLES 9 AND 14 OF THE AGREEMENT.

4.1      If delivery of the CRJ-900 Aircraft is delayed [***] or by causes not
         excused under Article 13.1 of the Agreement ,Bombardier shall pay
         liquidated damages as set forth in Article 9.6 or 14 as applicable; as
         calculated therein, in the amount of [***] of delay , to a maximum of
         [***] for any such delayed Aircraft.

ARTICLE 4.2 SUPPLEMENTS ARTICLE 14.1 OF THE AGREEMENT.

4.2       The grace period referred to in Article 14.1 of the Agreement is [***]
          business days from the Readiness Date of the applicable Aircraft for
          the first delivery of the CRJ-900 Aircraft, [***] from the Readiness
          Date during the [***] calendar month period beginning with the
          delivery month of the first CRJ-900 Aircraft, and [***] from the
          Readiness Date thereafter.

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ARTICLE  5.0               SPARE PARTS

ARTICLE 5.0 SUPPLEMENTS 2.6.1 OF ANNEX A OF THE AGREEMENT.

For a period of [***] from the date of delivery of the first CRJ-700 Aircraft,
Bombardier shall [***] for all purchases for the CRJ-900 Aircraft made by Buyer
during such period[***] . In addition, for a period of [***] beginning on the
date of delivery of the first Aircraft, Bombardier shall provide to Buyer a
discount from the Bombardier Spare Parts Catalogue list prices for all purchase
by Buyer of not less than [***] below list price.

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ARTICLE 6.0                PRODUCT ENHANCEMENTS

[***]

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ARTICLE 7.0                PERFORMANCE DATA

Bombardier agrees to provide Buyer upon request, without further revision
service, performance data (CR00-491) for the CRJ-900 Aircraft in the form of
[***]

In witness whereof this Supplement was signed on the date written hereof:

For and on behalf of                           For and on behalf of

MESA AIR GROUP, INC.                           BOMBARDIER INC.
                                               Bombardier Aerospace

Signed: ____________________                   Signed: ____________________
          Jonathan Ornstein                            H. Anne Woodyatt
          Chairman/CEO                                 Director, Contracts
          Mesa Air Group, Inc.                         Regional Aircraft

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                                     ANNEX 1

                                  SPECIFICATION

                               Number RAD-690-100
                               Dated December 1999

                                       9

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                                     ANNEX 2

                        BUYER SELECTED OPTIONAL FEATURES

<TABLE>
<CAPTION>
CR NO.                     ITEM DESCRIPTION
------                     ----------------
<S>                    <C>                                                                                           <C>
  CR#                                 TITLE                                                                          [***]
00-213                 Certification - FAA (FAR 25)                                                                  [***]
00-415                 MTOW - 82 500 LB (Extended Range Version)                                                     [***]
11-400                 Exterior Paint & Placards/Markings - Complex/Multiple                                         [***]
21-201                 Baggage - Temperature Control in Aft Comp't                                                   [***]
21-209                 Air Conditioning -  - Ground Cart Connection                                                  [***]
23-231                 VHF Comm - Third Radio Provisions (Collins)                                                   [***]
23-250                 SELCAL - Single System (Coltec)                                                               [***]
25-03-401              Interior Finish & Decor - Custom Carpets                                                      [***]
25-03-402              Interior Finish & Decor - Custom Curtains                                                     [***]
25-03-403              Interior Finish & Decor - Custom Bulkheads                                                    [***]
25-21-474              PAX Seats - 3 Abreast Business Class (Two Rows)                                               [***]
25-22-401              PAX Seats - In-Arm Meal Trays (Six Seat Pair)                                                 [***]
25-22-403              PAX Seats - Leather Dress Covers (36 Seat Pairs)                                              [***]
25-22-404              PAX Seats - Reclining Feature                                                                 [***]
25-24-410              Wardrobe - LH Forward with Roll-Up Door                                                       [***]
25-31-401              G1 Galley - Provisions For Snack & Hot Beverage Service (5 Trolleys)                          [***]
25-31-404              Galley - Storable Workshelf, Plug In (Each)                                                   [***]
25-34-401              Trolley - Atlas Std. Half Size (Qty 5)                                                        [***]
25-34-402              Stowage Unit - Atlas Std. (Qty 7)                                                             [***]
25-34-403              Trolley - Waste, Atlas Std. Half Size (Qty 1)                                                 [***]
25-34-410              Beverage Maker - Atlas Std (APC, Qty 4)                                                       [***]
25-35-403              G5 Galley - Provisions For Snack & Hot Beverage Service                                       [***]
25-490                 Baggage - Underfloor Retrieval System                                                         [***]
31-471                 Datalink - Provisions For Allied Signal                                                       [***]
33-203                 Lights - Red Beacon                                                                           [***]
34-235                 FMS - Single, ACARS Compatible (Collins FMS-4200)                                             [***]
34-250                 GPS - Single (Collins GPS-4000)                                                               [***]
34-260                 Radio Altimeter-Second (Collins)                                                              [***]
34-262                 Altimeter-Baro Setting Flashing At 18,000 Ft.                                                 [***]
34-428                 GPWS - Enhanced (Allied Signal)                                                               [***]
35-401                 Oxygen - PAX Extended Duration Chemical Generators                                            [***]
38-401                 Water - Aft System (For G5 Galley & Aft Lav.                                                  [***]
38-410                 Water - Forward System (G1 Galley & Lav)                                                      [***]
79-201                 Engine Oil - Remote Replenishment System                                                      [***]

                       TOTAL TECHNICAL FEATURES                                                                      [***]
</TABLE>

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                                     ANNEX 3

                                 OPTION AIRCRAFT

1.0      Bombardier hereby agrees to grant Buyer the option to purchase an
         additional Twenty (20) CRJ-900 Aircraft as described in Article 1 of
         this Supplement (the "Option Aircraft") for the benefit of Buyer under
         the following general conditions:

         1.1      The price for each of the CRJ-900 Option Aircraft ("CRJ-900
                  Option Aircraft Purchase Price") shall be the [***] but when
                  adjusted, the CRJ-900 Option Aircraft Purchase Price shall in
                  no case be lower than the CRJ-900 Base Price, as stipulated in
                  Article 2.1 herein.

         1.2      Buyer shall exercise its right to purchase the CRJ-900 Option
                  Aircraft by providing to Bombardier with a definitive
                  irrevocable written notice of exercise no later than [***]
                  prior to the Scheduled Delivery Month of the first CRJ-900
                  Option Aircraft (the "Excercise Date") accompanied by the
                  Option Deposit (as defined in Article 1.3 herein) for the
                  applicable CRJ-900 Option Aircraft. The option to purchase the
                  applicable Option Aircraft shall become null and void in the
                  event Buyer fails to give such notice of exercise by the
                  Exercise Date.

         1.3      Buyer shall pay to Bombardier a deposit of [***] for the
                  applicable CRJ-900 Option Aircraft (the "Option Deposit") on
                  the exercise of the option for such CRJ-900 Option Aircraft.

         1.4      The Scheduled Delivery Months of the Option Aircraft are as
                  follows:

<TABLE>
<S>                                                                 <C>                   <C>
                First CRJ-900 Option Aircraft                       [***]                 [***]
                Second CRJ-900 Option Aircraft                      [***]                 [***]
                Third CRJ-900 Option Aircraft                       [***]                 [***]
                Fourth CRJ-900 Option Aircraft                      [***]                 [***]
                Fifth CRJ-900 Option Aircraft                       [***]                 [***]
                Sixth CRJ-900 Option Aircraft                       [***]                 [***]
                Seventh CRJ-900 Option Aircraft                     [***]                 [***]
                Eighth CRJ-900 Option Aircraft                      [***]                 [***]
                Ninth CRJ-900 Option Aircraft                       [***]                 [***]
                Tenth CRJ-900 Option Aircraft                       [***]                 [***]
                Eleventh CRJ-900 Option Aircraft                    [***]                 [***]
                Twelfth CRJ-900 Option Aircraft                     [***]                 [***]
                Thirteenth CRJ-900 Option Aircraft                  [***]                 [***]
                Fourteenth CRJ-900 Option Aircraft                  [***]                 [***]
</TABLE>
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<TABLE>
<S>                                                                 <C>                   <C>
                Fifteenth CRJ-900 Option Aircraft                   [***]                 [***]
                Sixteenth CRJ-900 Option Aircraft                   [***]                 [***]
                Seventeenth CRJ-900 Option Aircraft                 [***]                 [***]
                Eighteenth CRJ-900 Option Aircraft                  [***]                 [***]
                Nineteenth CRJ-900 Option Aircraft                  [***]                 [***]
                Twentieth CRJ-900 Option Aircraft                   [***]                 [***]
</TABLE>

2.0        Upon exercise of Buyer's right to purchase the CRJ-900 Option
           Aircraft, the parties shall deem all definitions, terms and
           conditions of the Agreement and this Supplement as being applicable
           to the purchase of the CRJ-900 Option Aircraft, unless expressly
           noted otherwise.
[***]

4.0       The provisions of this Annex are personal to Buyer and shall not be
          assigned or otherwise disposed of by Buyer without the prior written
          consent of Bombardier.

5.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

                                       12

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<PAGE>   141
                                     ANNEX 4

                           AIRCRAFT CREDIT MEMORANDUM

1.0      Bombardier shall issue to Buyer a credit memorandum in the amount of
         [***] (the "CRJ-900 Credit Memorandum") expressed in [***] United
         States Dollars, concurrent with the actual delivery and the payment in
         full of the balance of the CRJ-900 Aircraft purchase price payable on
         delivery of each firm or option CRJ-900 Aircraft (as reduced by the
         amount of the CRJ-900 Credit Memorandum). The CRJ-900 Credit Memorandum
         shall be adjusted to the date of delivery to reflect economic
         fluctuations during the period from [***] to the respective delivery
         date of the applicable CRJ-900 Aircraft. [***] . Each firm or option
         CRJ-900 Credit Memorandum shall be applied by Buyer and Bombardier to
         reduce the balance of the purchase price payable on delivery of the
         CRJ-900 Aircraft to which it relates.

2.0      [***]

3.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

4.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

5.0      Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail.

                                       13
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                                     ANNEX 5

               CRJ-900 AIRCRAFT LAUNCH CUSTOMER CREDIT MEMORANDUM

1.0      As a special consideration at the time of actual delivery of and
         concurrent with Buyer's payment of the purchase price for each CRJ-900
         Aircraft (after deduction therefrom of the amount of the applicable
         CRJ-900 Launch Credit) of Buyer being a launch CRJ-900 Aircraft
         customer in North America, Bombardier shall issue to Buyer a special
         CRJ-900 Firm Aircraft launch customer credit memorandum (the CRJ-900
         Launch Credit") in the amount of [***] per CRJ-900 Firm Aircraft. The
         CRJ-900 Launch Credit shall be issued in [***] United States Dollars
         and shall be adjusted to the date of delivery to reflect economic
         fluctuations during the period from July 1, 2000 to the respective
         delivery date of the applicable CRJ-900 Firm Aircraft in accordance
         with the Economic Adjustment Formula set forth in Appendix 1 to the
         Agreement, [***] . The CRJ-900 Launch Credit shall be applied by Buyer
         and Bombardier to reduce the balance of the purchase price payable on
         delivery of the CRJ-900 Firm Aircraft to which it relates.

2.0      In the event of termination of the Agreement and/or the Supplement,
         this Annex shall become automatically null and void.

3.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

4.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

6.0      Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail.

                                       14
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                                     ANNEX 6

                     CRJ-900 AIRCRAFT PERFORMANCE GUARANTEES

1.0      AIRCRAFT CONFIGURATION

         The guarantees listed below are based on the CRJ-900 Aircraft
         configuration as defined in Bombardier Aerospace Type Specification
         RAD-690-100 issue NC, and equipped with GE CF34-8C5 engines as defined
         in GE Engines Performance Model L0073X. The weight data corresponds to
         the [***] lb ([***] ) MTOW design weight option. Appropriate
         adjustments shall be made for any changes in configuration of the
         Aircraft which have been approved by the Buyer and Bombardier
         Aerospace, Regional Aircraft ("Bombardier") or otherwise allowed by the
         Purchase Agreement and which cause changes to the performance of the
         Aircraft.

2.0      AIRPORT CONDITIONS

         All maximum take-off weight calculations are based on the conditions
described below:

         - Take-off with zero bleeds, APU on
         - APR armed
         - Dry runway
         - Wind : 0kts
         - Clearway                     : 0 ft
         - Stopway                      : 0 ft
         - Flaps                        :  optimum 8 or 20 deg
         - Line-up allowance            : 82 ft (25 m)
         - Obstacles are defined from start of runway

         Airport           : PHX , PHOENIX SKY HARBOR INTL
         Runway            : 26R
         Slope             : -0.227 %
         TORA              : 11000 ft
         Elev.             : 1133 ft
         Temper.           : 109(deg.)F
         Obst.             :     #    distance (ft)           height (ft)
                                 1    11960                   -8

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         Airport           : CVG, CINCINNATI / NORTHERN KY INTL
         Runway            : 09
         Slope             : -0.03 %
         TORA              : 10000 ft
         Elev.             :  897 ft
         Temper.           : 45(deg.)F
         Obst.             :      #      distance (ft)          height (ft)
                                  1      12156                  76
                                  2      12989                  102
                                  3      14354                  77
                                  4      15190                  103
                                  5      54587                  250
                                  6      56785                  250

         Airport           : MEM, MEMPHIS INTL
         Runway            : 09
         Slope             : 0.436 %
         TORA              : 8936 ft
         Elev.             : 335 ft
         Temper.           : 54(deg.)F
         Obst.             :      #      distance (ft)           height (ft)
                                  1      10037                   51
                                  2      10590                   69
                                  3      11843                   92
                                  4      14059                   137
                                  5      25062                   186

         Airport           : MEX, LIC BENITO JUAREZ INTL
         Runway            : 05R
         Slope             : 0.071 %
         TORA              : 12796 ft
         Elev.             : 7341 ft
         Temper.           : 80(deg.)F and 72(deg.)F
         Obst.             : none

         Airport           : YYC, CALGARY INTL
         Runway            : 16
         Slope             : -0.103 %

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         TORA              : 12675 ft
         Elev.             : 3557 ft
         Temper.           : 33(deg.)F
         Obst.             :   #       distance (ft)          height (ft)
                               1       13690                  -2
                               2       14040                  10
                               3       44342                  119

         Airport           : DSM , DES MOINES INTL
         Runway            : 13L
         Slope             : 0.500 %
         TORA              : 9001 ft
         Elev.             :  957 ft
         Temper.           : 38(deg.)F
         Obst.             :   #       distance (ft)          height (ft)
                               1       9675                   52
                               2       9918                   55
                               3       10486                  68
                               4       11148                  81

         Airport           : TUL, TULSA INTL
         Runway            : 18L
         Slope             : 0.17 %
         TORA              : 10000 ft
         Elev.             :  677 ft
         Temper.           : 52(deg.)F
         Obst.             :   #       distance (ft)          height (ft)
                               1       11417                  37

                                       17

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3.0      PERFORMANCE GUARANTEE

3.1      TAKE-OFF PERFORMANCE

         FAR take-off field length, at a take-off gross weight of [***] lb
         ([***] kg) at the start of ground run, at Phoenix elevation ([***] ft)
         with zero runway slope, no obstacles, zero wind, ISA conditions, flaps
         20o, shall be not more than [***] feet ([***] m).

3.2      LANDING PERFORMANCE

         FAR landing field length, at a landing weight of [***] lb ([***] kg),
         Phoenix elevation ([***] ft), ISA conditions, no obstacles, shall be
         not more than [***] feet ([***] m).

3.3      SPEED

         Level flight airspeed at [***] lb ([***] kg) gross weight, at a
         pressure altitude of [***] ft, using maximum cruise thrust with A.C.U.
         bleeds only, in ISA conditions shall not be less than [***] M, [***]
         knots ([***] km/hr).

3.4      SPECIFIC AIR RANGE

         The nautical air miles per pound of fuel in ISA conditions, at [***] ft
         pressure altitude, at an aircraft gross weight of [***] lb ([***] kg),
         at a true Mach number of [***] M shall be not less than [***] nam/lb
         ([***] km/kg).

3.5      MISSION PERFORMANCE

3.5.1    MAXIMUM RANGE GUARANTEE

         When operated under the conditions specified below with the fixed
         quantities and allowances specified in paragraph 3.5.3, the maximum
         still air range (stage length) out of Phoenix shall be not less than
         [***] nautical miles when carrying a fixed payload of [***] lb
         equivalent to [***] passengers at [***] lb.

         The maximum take-off weight out of Phoenix (PHX) is based on the
         conditions specified in paragraph 2.0 and is in compliance with FAR 25
         take-off requirements.

         The mission is flown in ISA conditions throughout.

         Climb is made starting at [***] ft to [***] ft pressure altitude using
         a climb speed schedule of [***] KCAS/ [***] M ([***] KCAS is maintained
         until the altitude where [***] M is reached).

                                       18
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         Cruise is at [***] ft pressure altitude at an average cruise Mach
         number of [***] M. Thrust during cruise is not to exceed maximum cruise
         thrust.

         Descent is made from [***] ft pressure altitude to sea level using a
         descent speed schedule of [***] M / [***] KCAS.

         The fixed fuel reserves, per paragraph 3.5.3, are [***] lb.

3.5.2    BLOCK FUEL AND MAXIMUM PAYLOAD GUARANTEES

         When operated under the conditions specified in paragraph 3.5.2.1 with
         the fixed quantities and allowances specified in paragraph 3.5.3, the
         maximum number of passengers shall not be less than and block fuel
         burnt shall not be more than the values presented in Table 1 below for
         each mission.

                   TABLE 1: PAYLOAD AND BLOCK FUEL GUARANTEES

<TABLE>
<CAPTION>

FROM         TO       Route        Average       Equiv.        Cruise          NUM BER OF   BLOCK FUEL    Fixed Fuel
                      Dist.        winds         still air     pressure        PASSEN GERS  (LB)          Reserves (lb)
                      (nm)         (kts)         range         altitude
                                                 (nm)          (100 ft)
<S>          <C>      <C>         <C>            <C>           <C>             <C>          <C>           <C>
PHX          CVG      1360         5             1344          370             [***]        [***]         [***]
PHX          MEM      1095         -1            1097          370             [***]        [***]         [***]
PHX          MEX      1088         -10           1114          370             [***]        [***]         [***]
PHX          YYC      1064         -11           1092          350             [***]        [***]         [***]
PHX          DSM      997          6             982           370             [***]        [***]         [***]
PHX          TUL      810          0             810           370             [***]        [***]         [***]
CVG          PHX      1360         -84           1695          350             [***]        [***]         [***]
MEM          PHX      1095         -88           1384          350             [***]        [***]         [***]
MEX          PHX      1088         -55           1251          390             [***]        [***]         [***]
(80(deg.)F)
MEX          PHX      1088         -55           1252          350 / 390       [***]        [***]         [***]
(72(deg.)F)
YYC          PHX      1064         -9            1087          370             [***]        [***]         [***]
DSM          PHX      997          -71           1201          350             [***]        [***]         [***]
TUL          PHX      810          -83           1013          350             [***]        [***]         [***]
</TABLE>

                                       19
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3.5.2.1  MISSION DESCRIPTION

         The equivalent still air range (stage length) is the actual route
         distance corrected for the average winds. Head winds are negative.

         The maximum take-off weight for each departure airport ("from") is
         based on the conditions specified in paragraph 2.0 and is in compliance
         with FAR 25 take-off requirements.

         The missions are flown in ISA conditions throughout.

         Climb is made starting at the airport elevation to the initial cruise
         pressure altitude specified in Table 1 above using a climb speed
         schedule of [***] KCAS/ [***] M.

         Cruise is at the pressure altitude specified in Table 1 at an average
         cruise Mach number of [***] M. Thrust during cruise is not to exceed
         maximum cruise thrust.

         When a second cruise pressure altitude is specified in Table 1, a [***]
         ft step climb from the first to the second pressure altitude is made
         using a climb speed schedule of [***] KCAS/ [***] M. It is followed by
         a cruise at the second pressure altitude at an average cruise Mach
         number of [***] M.

         Descent is made from the final cruise pressure altitude in Table 1 to
         sea level using a descent speed schedule of [***] M / [***] KCAS.

3.5.3    FIXED QUANTITIES AND ALLOWANCE

         For the purpose of this guarantee the following are fixed quantities
         and allowances:

            -   15 minutes engine start and taxi out fuel                  [***]
            -   1 minute take-off fuel including acceleration             [***])
                to initial climb speed (no distance credit)

            -   5 minute approach and landing fuel (no distance credit)   [***])

            -   10 minutes taxi in fuel: taken from the reserves          [***])

            -   Usable reserve fuel remaining upon completion of landing
                phase, based on the reserve profile specified below:

                1)  100 nm (185 km) diversion including:

                  i)   climb from destination airport elevation to optimum
                       altitude at a speed. of [***] KCAS

                  ii)  cruise at optimum altitude at long range cruise
                       speed (LRC)

                  iii) descent to sea level at a speed of [***] KCAS.

                2) plus fuel equivalent to 45 minute hold at 10000 feet and
                   minimum drag speed (VMD).

         The stage length is defined as the sum of the climb, cruise and descent
         distances.

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         M denotes true Mach number.

         Block fuel includes engine start, taxi out, take-off, climb, cruise,
         descent, approach and landing and taxi in.

         The maximum range, payload and fuel burn guarantees are based on the
         fixed estimated Operating Weight Empty (O.W.E.) of [***] lb ([***] kg)
         and on the passenger weight allowance of [***] lb ([***] kg).

4.0      WEIGHTS

4.1      MAXIMUM ZERO FUEL WEIGHT GUARANTEE

         The Maximum Zero Fuel Weight (M.Z.F.W.) shall not be less than [***] lb
         ([***] kg).

4.2      MAXIMUM LANDING WEIGHT GUARANTEE

         The Maximum Landing Weight (M.L.W.) shall not be less than [***] lb
         ([***] kg).

4.3      MAXIMUM TAKE-OFF WEIGHT GUARANTEE

         The Maximum Take-off Weight (M.T.O.W.) shall not be less than [***] lb
         ([***] kg).

4.4      OPERATING WEIGHT EMPTY AND CENTER OF GRAVITY GUARANTEES

         The Operating Weight Empty is guaranteed to not exceed [***] lb.
         Included within this guarantee are weight and center of gravity
         allowances for operating items listed below and customer defined
         options described below. Should these allowances differ from the actual
         values at delivery, appropriate corrections are to be made to the
         guaranteed weight (i.e. the Seller can not guarantee the weight of
         these allowances).

         The center of gravity (CG) range at O.W.E. shall have a maximum forward
         limit of [***] % of Mean Aerodynamic Chord (MAC) and a maximum aft
         limit of [***] % MAC (subject to the appropriate corrections noted
         above).

TABLE 2: OPERATING WEIGHT EMPTY BUILD-UP

<TABLE>
<CAPTION>
ITEM                                                                 WEIGHT     CG     %
DESCRIPTION
                                                                     (LB)       (IN)   MAC
<S>                                                                  <C>        <C>    <C>
--------------------------------------------------------------------------------------------
M.W.E BASIC (CURRENT TYPE SPEC)                                      [***]      [***]  [***]
--------------------------------------------------------------------------------------------
                                                                     [***]      [***]
</TABLE>

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<TABLE>
<S>                                                                  <C>        <C>    <C>
Storage Units                                                        [***]      [***]
Forward Left Entrance Compartment                                    [***]      [***]
Wardrobe                                                             [***]      [***]
                                                                     [***]      [***]
Additional Crew & Passengers Seating                                 [***]      [***]
Business Class Seats                                                 [***]      [***]
Standard Passenger Seats                                             [***]      [***]
                                                                     [***]      [***]
                                                                     [***]      [***]
                                                                     [***]      [***]
Galley Structure
G1 Style Galley
G3 Style Galley

Miscellaneous Items
FWD Lavatory
AFT Lavatory
Cabin Carpet

Customer Options
Emergency Equipment
--------------------------------------------------------------------------------------------
M.W.E DELIVERED                                                      [***]      [***]  [***]
--------------------------------------------------------------------------------------------
                                                                     [***]      [***]
Addition of Unusable Fuel & Engine Oil                               [***]      [***]
Unusable Fuel
Engine Oil
--------------------------------------------------------------------------------------------
TRUE EMPTY WEIGHT                                                    [***]      [***]  [***]
--------------------------------------------------------------------------------------------
                                                                     [***]      [***]
Addition of Operating Items                                          [***]      [***]
                                                                     [***]      [***]
Crew/Bags/Manuals                                                    [***]      [***]
Pilot & Copilot                                                      [***]      [***]
Crew Baggage                                                         [***]      [***]
Flight Manuals                                                       [***]      [***]
                                                                     [***]      [***]
                                                                     [***]      [***]
                                                                     [***]      [***]
                                                                     [***]      [***]
Catering Allowance
G1 1/2 Size Meal Cart (qty. 4)
G1 1/2 Size Waste Cart (qty. 1)
G1 Coffe Maker (qty. 2)

G3 1/2 Size Meal Cart (qty. 2)
G3 Standard Container (qty. 2)

</TABLE>

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<TABLE>
<S>                                                                  <C>        <C>    <C>
Water Fwd Lav. and Wet Galley 1 (11 USG)
Water Aft Lav. (Basic) (10 USG)
Toilet Chemicals
--------------------------------------------------------------------------------------------
MINIMUM FLIGHT WEIGHT                                                [***]      [***]  [***]
--------------------------------------------------------------------------------------------
                                                                     [***]      [***]
Forward Flight Attendant #1                                          [***]      [***]
Aft Flight Attendant #2                                              [***]      [***]
Crew Baggage                                                         [***]      [***]

Consumables & Galley Supplies
--------------------------------------------------------------------------------------------
O.W.E. (EST.)                                                        [***]      [***]  [***]
O.W.E. (GUARANTEE)
</TABLE>

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5.0      PERFORMANCE GUARANTEE CONDITIONS

5.1      All guaranteed performance data are based on the ICAO International
         Standard Atmosphere (ISA) unless noted otherwise. Altitudes are
         pressure altitudes.

5.2      FAR take-off and landing performance are based on the requirements of
         FAR 25 amended with FAA NPRM 93-8 document. Additionally these
         performance are contigent upon certification of the aircraft with the
         1-g stall speed as the basis for compliance with FAR 25 amended with
         FAA NPRM 95-17 document.

5.3      Take-off and landing performance guarantees are based on operation from
         hard surfaced, level and dry runways with no wind, no line-up allowance
         and no obstacle unless noted otherwise and with anti-skid and automatic
         spoilers operative.

5.4      When establishing the take-off performance, no air shall be bled from
         the engine(s) for cabin air conditioning or anti-icing and APR shall be
         armed and available when one engine fails. The APU shall be on.

5.5      Speed, specific air range, and the climb, cruise, and descent portion
         of the mission guarantee include allowance for normal engine bleed and
         power extraction. Normal engine bleed is defined as the bleed required
         to maintain a cabin pressure altitude not exceeding [***] feet at the
         maximum operating altitude with an average cabin ventilation rate of
         not less than [***] ft3 /min ([***] m3 /min) and a cabin temperature
         of [***] (deg)F) ([***] (deg)C).

5.6      Normal power extraction assumes a load of 45 HP per engine with both
         engines operative and a load of 65 HP with one engine inoperative.

5.7      Fuel density is assumed to be [***] pounds / US gallon ([***] kg/l).
         All performance guarantees are based on the use of a fuel with a lower
         heating value (LHV) of [***] BTU / pound ([***] kilojoules/kg) and on
         an Aircraft centre of gravity location of [***] % of the mean
         aerodynamic chord.

5.8      All guarantees are contingent upon engine acceptance test performance
         acceptable to Bombardier Aerospace, Regional Aircraft and are
         applicable to a new airframe - engine combination only.

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6.0      GUARANTEE COMPLIANCE

6.1      Compliance with take-off and landing performance guarantees shall be
         demonstrated by reference to the approved Transport Canada Aircraft
         Flight Manual adjusted to reflect any differences due to change in
         certification requirements or interpretation thereof.

6.2      Compliance with speed, specific air range and mission performance
         guarantees shall be established by calculations based on flight test
         data obtained for an aircraft configuration similar to that defined by
         this specification and shall be demonstrated by reference to the Flight
         Planning and Cruise Control Manual. In addition, at Buyer's request,
         compliance with the specific air range guarantee of paragraph 3.4 will
         be verified by flight test during the acceptance flight on no more than
         two aircraft. Seller will provide a test report to Buyer no later than
         15 days after the test. Buyer must notify the Seller of the aircraft to
         be flight tested no later than two months before delivery.

6.3      Data derived from tests shall be adjusted as required by conventional
         methods of correction, interpolation or extrapolation in accordance
         with established aeronautical practices to show compliance with the
         performance guarantees.

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7.0      REMEDIES

7.1      In the event a shortfall in the guarantees contained herein, Bombardier
         reserves the right to carry out additional flight test measurements on
         a subsequent Aircraft, which may be specially instrumented for this
         purpose, with the objective of identifying accurately the cause of the
         shortfall and to develop corrective measures. Such measures shall be
         developed within a period of [***] months from discovery and
         identification of a shortfall (or such other longer period as may be
         mutually agreed in view of the corrective measures involved).

7.2      If, during the period commencing at delivery of the First Aircraft and
         expiring five (5) years later, the guaranteed Operating Weight Empty
         mentioned herein is exceeded as a result of (a) Airworthiness
         Directives, or (b) Service Bulletins recommended by Bombardier as
         necessary either to correct a defect that is the fault of Bombardier or
         Bombardier"s supplier, restore reliability or maintainability to
         guaranteed levels, or maintain performance specified herein, c)
         Regulatory Changes, d) permitted changes, then :

         2)      1)                                                  [***] [***]

         (i)      Bombardier and Buyer will promptly meet to verify the
                  allegation of the deficiency.

         (ii)     If the allegation is found to be true and a deficiency is
                  acknowledged, then Bombardier will promptly initiate steps to
                  correct the deficiency, and

         (iii)    Until such time as the identified and acknowledged deficiency
                  is corrected Bombardier will provide to Buyer as liquidated
                  damages and not as a penalty (the "Weight Remedy") credit
                  memoranda (or cash less any amounts owed to Bombardier by
                  Buyer), to be used for the purchase of goods and services from
                  Bombardier in amounts based on the following formula:

         Remedy = [***]

         Where:

         Remedy   =        The amount Bombardier shall pay Buyer as liquidated
                           damages and not as a penalty, in the form of spare
                           parts and/or services credit memorandum, per calendar
                           year that the Buyer operates each Aircraft during
                           which the guarantee has been broken. Remedy shall
                           begin the year in which the Operating Weight Empty

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                           discrepancy has been discovered, subject to a maximum
                           for the term of this guarantee of $[***] per
                           Aircraft.

         [***] [***] [***] [***] [***]

         In the event the CG limits change which results in reduced payload
         capability for each affected Aircraft, a remedy shall apply as
         liquidated damages and not as a penalty, which shall be computed by
         applying the same formula as the Weight Remedy, except that the WI
         shall be the number of pounds of ballast (only the amount of ballast
         which results in exceedance of the guaranteed Operating Weight Empty)
         required to restore original CG limits to each affected Aircraft.

         If Buyer adds to or modifies the Aircraft for reasons other than those
         given in the previous paragraph, with the result being an increase in
         the Operating Weight Empty, then the Parties shall amend the Guaranteed
         Operating Weight Empty.

7.3      Bombardier's maximum exposure under this Article 7.2 is $[***] and in
         no event, will Bombardier's payout under this Article 7.2 exceed such
         amount.

8.0      In the event of termination of the Agreement and/or the Supplement,
         this Annex shall become automatically null and void.

9.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

10.0     This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

11.0     Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail

                                     ANNEX 7
                            INTENTIONALLY LEFT BLANK

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                                     ANNEX 8
[***]

1.0      Bombardier agrees to provide "[***] " for an additional [***] CRJ-900
         Aircraft, (the "CRJ-900[***] ")

         Buyer shall have the right to purchase the [***] on the same terms and
         conditions as applicable to the Option Aircraft which are described in
         the applicable supplement, subject to the condition that the Scheduled
         Delivery Months for the [***] Aircraft shall be offered to Buyer
         subject to availability.

[***]

3.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

4.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

5.0      Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail.

                                       28

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                                     ANNEX 9

                                      [***]

1.0      [***]

[***]

3.0      The provisions of this Annex are personal to Buyer and shall not be
         assigned or otherwise disposed of by Buyer without the prior written
         consent of Bombardier.

4.0      This Annex constitutes an integral part of the Supplement and is
         subject to the terms and conditions contained therein.

6.0      Should there be any inconsistency between this Annex and the Agreement
         and/or the Supplement with respect to the subject matter covered by the
         terms hereof, then this Annex shall prevail.

                                       29
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