Document:

EX-10.9.1

 Exhibit 10.9.1 
 SUPPLEMENTAL AGREEMENT NO. 1 
 to 

Purchase Agreement No. 3075 
 between 
 THE BOEING COMPANY 

and 

AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA 
 Relating to Boeing Model 787-859 Aircraft 
 THIS SUPPLEMENTAL AGREEMENT,
entered into as of the 28th day of March 2007, by and between THE BOEING COMPANY, a Delaware corporation with its principal offices in the City of Seattle, State of Washington. USA (Boeing), and Aerovias del Continente Americano S.A. AVIANCA., a
company organized under the laws of the country of Colombia (Buyer); 
 W I T N E S S E T H: 

WHEREAS, Boeing and Buyer entered into Purchase Agreement No. 3075, dated 03 October 2006, as amended and supplemented (the
Agreement) relating to the purchase and sale of ten (10) Boeing Model 787-859 aircraft; and 
 WHEREAS, Buyer and Boeing
now wish to amend certain terms and conditions associated with the Agreement. and 
 WHEREAS, Boeing and Buyer have agreed to
the addition of three (3) Model 787-8 purchase rights. and 
 WHEREAS, Boeing and Buyer have also agreed to amend the
Agreement to incorporate certain other changes as may be described herein; 
 NOW, THEREFORE, in consideration of the mutual
covenants contained herein, the parties agree to amend the Agreement as follows: 
  

	1.	Table of Contents 

 Remove
and replace, in its entirety, the Table of Contents with a new Table of Contents (attached hereto) to reflect the incorporation of this Supplemental Agreement No. 1 (SA-1) into the Purchase Agreement. 

 

	2.	Letter Agreements. 

 2.1
Remove and replace page 1 of letter agreement no. 6-1162-DME-0903. Right to Purchase Additional Aircraft, with a new page 1 (attached hereto) which effects an increase in 

 
(a) the number of Customer’s purchase right aircraft from seven (7) to now become ten (10) and (b) the number of Customer’s purchase rights aircraft to be delivered in
calendar years 2013 through 2015 from two (2) to now become three (3). 
 2.2 Remove and replace page 2 of letter agreement
no. 6-1162-DME-0902, Promotional Support Agreement, with a new page 2 (attached hereto) to accommodate Customer’s request for [*]. 
  

 
 The Purchase
Agreement, Exhibits and Letter Agreements shall be deemed amended to the extent herein provided and as so amended shall continue in full force and effect. In the event of any inconsistency between the above provisions and those provisions contained
in the Purchase Agreement. the terms of this Supplemental Agreement will govern and control. 
 EXECUTED IN DUPLICATE as of the
day and year first above written. 
  

			
	THE BOING COMPANY
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

 TABLE OF CONTENTS 

 

					
	 	  	 	  	SA
NUMBER
		
	ARTICLES	  	
			
	 1.
	  	Quantity, Model and Description	  	
			
	 2.
	  	Delivery Schedule	  	
			
	 3.
	  	Price	  	
			
	 4.
	  	Payment	  	
			
	 5.
	  	Miscellaneous	  	
		
	TABLE	  	
			
	 1.
	  	Aircraft Information Table	  	
		
	EXHIBIT	  	
			
	 A.
	  	Aircraft Configuration	  	
			
	 B.
	  	Aircraft Delivery Requirements and Responsibilities	  	
		
	SUPPLEMENTAL EXHIBITS	  	
			
	 AEI.
	  	Escalation Adjustment/Airframe and Optional Features	  	
			
	 CS 1.
	  	Customer Support Document	  	
			
	 EE I .
	  	Engine Escalation/Engine Warranty and Patent Indemnity — Genx & Trent	  	
			
	 SLP1.
	  	Service Life Policy Components	  	

							
	 	  	 	  	SA
NUMBER	 
		
	LETTER AGREEMENTS	  			
			
	3075-01	  	787 Open Configuration Matters	  			
	3075-02	  	787 Spare Parts Commitment	  			
	3075-03	  	787 Spare Parts Initial Provisioning	  			
	3075-04	  	Aircraft Model Substitution	  			
	3075-05	  	Demonstration Flight Waiver	  			
	3075-06	  	Schedule Reliability	  			
	3075-07	  	Spare Parts – Flight Crew Training	  			
	6-1162-DME-0895	  		  			
		  	AD Cost Materials	  			
	6-1162-DME-0896	  	GEnx & Trent Performance Guarantees and Attachments	  			
	6-1162-DME-0897	  	Alternate Engine Selection	  			
	6-1162-DME-0898	  	GEnx Performance Retention and Attachment	  			
	6-1162-DME-0899	  	Trent Performance Retention and Attachment	  			
	6-1162-DME-0900	  	Maintenance Cost Guarantees and Attachment	  			
	6-1162-DM E-0901	  	Advance Payment Matters	  			
	6-1162-DME-0902	  	Promotional Support	  	 	SA-1	  
	6-1162-DME-0903	  	Purchase Rights	  	 	SA-1	  
	6-1162-DME-0904	  	Special Matters	  			
	6-1162-DME-0905	  	[*]	  			
	6-1162-DME-0905-01	  	[*]	  			
	6-1162-DME-0905-02	  	[*]	  			
	6-1162-DME-0906	  	Customer Services Matters and Attachment	  			
	6-1162-DME-0907	  	AGTA Matters	  			

  

			
	RECORD OF SUPPLEMENTAL AGREEMENTS
		
	SA-1	  	27 March 2007

 The Boeing Company 

P.O. Box 3707 
 Seattle, WA 98124-2207 
 6-1162-DME-0903 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	    	Right to Purchase Additional Aircraft
		
	Reference:	    	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model
787-8 aircraft (Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All capitalized
terms used but not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 
  

	1.	Right to Purchase Incremental Aircraft 

 Subject to the terms and conditions contained herein, in addition to the Aircraft described in Table 1 to the Purchase Agreement as of the date of execution of this Letter Agreement, Customer will have
the right to purchase (Purchase Right) ten (10) additional Boeing Model 787-8 aircraft on the terms and conditions described in this Letter Agreement (Purchase Right Aircraft). Customer’s right of substitution with respect to any Boeing
Model 787-8 aircraft pursuant to the Purchase Agreement (or any other letter agreement amending and supplementing the Purchase Agreement) shall be applicable to each such Purchase Right Aircraft. 

 

	2.	Delivery. 

 The Purchase
Right Aircraft are offered subject to available position for delivery during the period [*], with delivery of three (3) such Purchase Right Aircraft to occur in the calendar years [*] through [*], and delivery of one (1) such Purchase
Right Aircraft in calendar year [*]. Should Customer choose not to exercise its Purchase Rights with respect to any of these available Purchase Right Aircraft in any of the calendar years [*] through [*], the 

  
 P.A. No. 3075

 Purchase Rights 
  

 BOEING PROPRIETARY 

 1.4 “Performance Period” shall mean the period beginning [*] before and ending [*]
after delivery of the first Covered Aircraft, with the exception that up to [*] of this Boeing commitment may be utilized by Customer as [*]. 
 1.5 “Qualifying Third Party Fees” shall mean fees paid by Customer during the Performance Period to third party providers for Promotional Support provided to Customer during the Performance
Period. 
  

	2.	Commitment. 

 As more
particularly set forth in this Letter Agreement Boeing agrees to provide Promotional Support to Customer in a value not to exceed $[*] for the first Covered Aircraft delivered to Customer and not to exceed $[*] per Covered Aircraft for each Covered
Aircraft delivered to Customer thereafter (Commitment Limit). 
  

	3.	Methods of Performance. 

Subject to the Commitment Limit, Customer may elect to receive the Promotional Support in either or any combination of the following ways:

 3.1 At Customer’s request and with respect to a mutually agreed project Boeing will provide Promotional Support during
the Performance Period directly to Customer in value equivalent to Qualifying Third Party Fees. 
 3.2 Boeing will reimburse [*]
percent ([*]%) of Customer’s payments of Qualifying Third Party Fees provided that Customer provides Boeing copies of paid invoices for such Qualifying Third Party Fees no later than [*] months after the delivery of the first Covered Aircraft.
There will be no cash payments or other support in lieu thereof. 
  

	4.	Commencement Date. 

Boeing’s obligation to provide Promotional Support will commence when the purchase of the Covered Aircraft becomes firm (not subject
to cancellation by either party). 
  

	5.	Project Approval. 

 Following the
execution of this Letter Agreement, a Boeing Airline Marketing Services representative will meet with Customer’s designated representative to review and approve the extent, selection, scheduling, and funds disbursement process for the
Promotional Support to be provided pursuant to this Letter Agreement. 

  
 P.A. No. 3075 

 

 BOING PROPRIETARYEX-10.9.2

 Exhibit 10.9.2 
 SUPPLEMENTAL AGREEMENT NO. 2 
 to 

Purchase Agreement No. 3075 
 between 
 THE BOEING COMPANY 

and 

AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA 
 Relating to Boeing Model 787-859 Aircraft 
 THIS SUPPLEMENTAL AGREEMENT,
entered into as of the 21st day of March 2007, by and between THE BOEING COMPANY, a Delaware corporation with its principal offices in the City of Seattle, State of Washington. USA (Boeing), and Aerovias del Continente Americano S.A. AVIANCA., a
company organized under the laws of the country of Colombia (Buyer); 
 W I T N E S S E T H: 

WHEREAS, Boeing and Buyer entered into Purchase Agreement No. 3075, dated 03 October 2006, as amended and supplemented (the
Agreement) relating to the purchase and sale of ten (10) Boeing Model 787-859 aircraft; and 
 WHEREAS, Buyer and Boeing
now wish to amend certain terms and conditions associated with the Agreement, and 
 WHEREAS, Buyer has made its decision to
exercise two (2) purchase right aircraft to become firm aircraft, and 
 WHEREAS, Buyer has made its final decision
regarding the engine manufacturer and specific model engine model to now become the model Trent [*], and 
 WHEREAS, Boeing and
Buyer have also agreed to amend the Agreement to incorporate certain other changes as may be described herein; 
 NOW,
THEREFORE, in consideration of the mutual covenants contained herein, the parties agree to amend the Agreement as follows: 
  

	1.	Table of Contents. 

 Remove and
replace, in its entirety, the Table of Contents, previously incorporated by Supplemental Agreement No. 1 (SA-1), with a new Table of Contents (attached hereto) to reflect the incorporation of this Supplemental Agreement No. 2 (SA-2) into
the Purchase Agreement. 

  
 AVI 

	2.	Tables. 

 2.1 Remove and replace
Table 1 to Purchase Agreement No. 3075, with the new Table 1-1 (attached hereto) to reflect Customer’s decision to purchase Aircraft with the model Trent [*] engines. 

2.2 Remove and replace Table 2 to Purchase Agreement No. 3075, with the new Table 1-2 (attached hereto) to reflect
Customer’s decision to exercise two (2) Basic Purchase Rights to become firmly contract Aircraft. 
 2.3 All
references in the Purchase Agreement No. 3075 as executed on October 3rd, 2006 and in the Supplemental Agreement No. 1 as executed on March 28th, 2007 to Table 1 are to be understood as references to Table 1-1 and Table
1-2 above. 
  

	 	3.	Supplemental Exhibits. 

 Delete that
portion of the Supplemental Exhibit EE1, Engine Escalation and Engine Warranty, that applies to the General Electric GENX [*] engines to reflect Customer’s final engine manufacturer and model decision to be model Trent [*] engines. 

 

	 	4.	Letter Agreements.  

 4.1
Delete, in its entirety, that portion of the letter agreement no. 6-1162-DME 0896, Aircraft Performance Guarantees - GENX [*] Engines, to reflect Customer’s final engine manufacturer and model decision to be model Trent [*] engines. Customer
and Boeing agree that the performance guarantees applicable to the Trent [*] engines will be provided by Boeing as part of the Customer’s completion of the final configuration of the Aircraft. 

4.2 Delete, in its entirety, letter agreement no. 6-1162-DME-0897, Alternate Engine Selection, to reflect Customer’s having made its
engine manufacturer and model final decision to be the model Trent 1000-D engines. 
 4.3 Delete, in its entirety, letter
agreement no. 6-1162-DME-0898, Performance Retention Commitment - GENX-1B64 Engines, to reflect Customer’s final engine manufacturer and model decision to be model Trent [*] engines. 

4.4 Remove and replace the Letter Agreement No. 6-1162-DME-0901, Advance Payment Matters, executed on 03 October 2006, with the
new Letter Agreement No. 6- 1162-DME-0901R1, Advance Payment Matters, (attached hereto) in order to include the new advance payment schedule applicable to the new Table 1-2 Aircraft. 

4.5 Remove and replace the Letter Agreement No. 6-1162-DME-0903, Right to Purchase Additional Aircraft, executed on 03 October
2006 and as further amended by Supplemental Agreement No. 1 (SA-1), with the new Letter Agreement No. 6-1162-DME0903R1, Right to Purchase Additional Aircraft, and to add the new Attachment A, (attached hereto) to reflect the tern
and conditions pertaining to Special Purchase Right Aircraft and to record Customers exercise of two (2) Basic Purchase Rights. 
 4.6 Remove and replace the Letter Agreement No. 6-1162-DME-0906, Customer Services, with the new Letter Agreement No. 6-1162-DME-0906R1, Customer Services. (attached hereto) in order to include
the new Boeing/Alteon Maintenance and Flight Training Points associated with the Table 1-2 Aircraft. 

  
 AVI 

 4.7 Add the new Letter Agreement No. 6-1162-DME-1089, [*] which is a new escalation
program that Buyer may choose to utilize for Customer specified aircraft, per the terms and conditions described therein, in lieu of the terms and conditions of Letter Agreement No. 6-1162-DME-0905, [*] 

 
  

The Purchase Agreement, Exhibits and Letter Agreements shall be deemed amended to the extent herein provided and as so amended shall
continue in full force and effect. In the event of any inconsistency between the above provisions and those provisions contained in the Purchase Agreement. the terms of this Supplemental Agreement will govern and control. 

EXECUTED IN DUPLICATE as of the day and year first above written. 

 

			
	THE BOEING COMPANY
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

  
 AVI 

 TABLE OF CONTENTS 

 

					
	 	  	 	  	 SA
 NUMBER

		
	ARTICLES	  	
			
	 1.
	  	Quantity, Model and Description	  	
			
	 2.
	  	Delivery Schedule	  	
			
	 3.
	  	Price	  	
			
	 4.
	  	Payment	  	
			
	 5.
	  	Miscellaneous	  	
		
	TABLE	  	
			
	 1-1.
	  	Aircraft Information Table	  	SA-2
	 1-2.
	  	Aircraft Information Table	  	SA-2
		
	EXHIBIT	  	
			
	 A.
	  	Aircraft Configuration	  	
			
	 B.
	  	Aircraft Delivery Requirements and Responsibilities	  	
		
	SUPPLEMENTAL EXHIBITS	  	
			
	 AEI.
	  	Escalation Adjustment/Airframe and Optional Features	  	
			
	 CS 1.
	  	Customer Support Document	  	
			
	 EE I.
	  	Engine Escalation/Engine Warranty and Patent Indemnity	  	SA-2
			
	 SLP1.
	  	Service Life Policy Components	  	

  
 AVI 

							
	 	  	 	  	SA
NUMBER	 
		
	LETTER AGREEMENTS	  			
			
	3075-01	  	787 Open Configuration Matters	  			
	3075-02	  	787 Spare Parts Commitment	  			
	3075-03	  	787 Spare Parts Initial Provisioning	  			
	3075-04	  	Aircraft Model Substitution	  			
	3075-05	  	Demonstration Flight Waiver	  			
	3075-06	  	Schedule Reliability	  			
	3075-07	  	Spare Parts – Flight Crew Training	  			
	6-1162-DME-0895	  	AD Cost Materials	  			
	6-1162-DME-0896	  	Performance Guarantees and Attachments	  	 	SA-2	  
	6-1162-DME-0897	  	Alternate Engine Selection	  	 	SA-2	  
	6-1162-DME-0898	  	GEnx Performance Retention and Attachment	  			
	6-1162-DME-0899	  	Trent Performance Retention and Attachment	  	 	SA-2	  
	6-1162-DME-0900	  	Maintenance Cost Guarantees and Attachment	  			
	6-1162-DM E-0901R1	  	Advance Payment Matters	  	 	SA-2	  
	6-1162-DME-0902	  	Promotional Support	  	 	SA-1	  
	6-1162-DME-0903 R1	  	Purchase Rights	  	 	SA-1	  
	6-1162-DME-0904	  	Special Matters	  			
	6-1162-DME-0905	  	Escalation [*] and Attachment	  			
	6-1162-DME-0905-01	  	[*]	  			
	6-1162-DME-0905-02	  	[*]	  			
	6-1162-DME-0906T1	  	Customer Services Matters and Attachment	  	 	SA-2	  
	6-1162-DME-0907	  	AGTA Matters	  			
	6-1162-DME-1089	  	[*]	  	 	SA-2	  
		
	RECORD OF SUPPLEMENTAL AGREEMENTS	  			
			
	SA-1	  	28 March 2007	  			
	SA-2	  	21 November 2007	  			

  
 AVI 

 Supplemental Agreement No. SA-2 

Table 1-1 to Purchase Agreement No. 3075 
 Aircraft Delivery, Description, Price and Advance Payments 
  

							
	Airframe
Model/MTOW:                                      
787-8	  	[*]	  	Detail Specification:	  	[*]
	Engine Model/Thrust:
                            TRENT[*]	  	[*]	  	Airframe Price Base Year/Escalation Formula:	  	[*]
	Airframe Price:	  	[*]	  	Engine Price Base Year/Escalation Formula:	  	[*]
	Optional Features:	  	[*]	  		  	
		  	  
	  		  	
	Sub-Total of Airframe and Features:	  	[*]	  	Airframe Escalation Data:	  	[*]
	Engine Price (Per Aircraft):	  	[*]	  	Base Year Index (ECI):	  	[*]
	Aircraft Basic Price (Excluding BFE/SPE):	  	[*]	  	Base Year Index (CPI):	  	[*]
		  	  
	  		  	
	Buyer Furnished Equipment (BFE) Estimate:	  	[*]	  	Engine Escalation Data:	  	[*]
	Seller Purchased Equipment (SPE) Estimate:	  	[*]	  	Base Year Index (ECI):	  	[*]
		  		  	Base Year Index (CPI):	  	[*]
	Refundable Deposit/Aircraft at Proposal Accept:	  	$150,000	  		  	

  

																	
	 Delivery Date
	  	Number of
Aircraft	  	Escalation
Factor
(Airframe)
	  	Escalation
Factor
(Engine)	  	Escalation
Estimate
Adv 
Payment	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to 
Delivery):
	  	  	  	  	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
		  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	Total:	  	10	  		  		  		  		  		  		  	

  
 AVI 

							
	Airframe Model/MTOW:                        
787-8	  	[*]	  	Detail Specification:	  	787131-4102-B (7/9/2007)
	Engine Model/Thrust:                       TR
[*]	  	[*]	  	Airframe Price Base Year/Escalation Formula:	  	[*]
	Airframe Price:	  	[*]	  	Engine Price Base Year/Escalation Formula:	  	[*]
	Optional Features:	  	[*]	  		  	[*]
	Sub-Total of Airframe and Features:	  	[*]	  	Airframe Escalation Data:	  	[*]
	Engine Price (Per Aircraft):	  	[*]	  	Base Year Index (ECI):	  	[*]
	Aircraft Basic Price (Excluding BFE/SPE):	  	[*]	  	Base Year Index (CPI):	  	[*]
	Buyer Furnished Equipment (BFE) Estimate:	  	[*]	  	Engine Escalation Data:	  	[*]
	Seller Purchased Equipment (SPE) Estimate:	  	[*]	  	Base Year Index (ECI):	  	[*]
		  		  	Base Year Index (CPI):	  	[*]
	Refundable Deposit/Aircraft at Proposal Accept:	  	[*]	  		  	

  

																	
	 Delivery Date
	  	Number of
Aircraft	  	Escalation
Factor
(Airframe)	  	Escalation
Factor
(Engine)	  	Escalation Estimate
Adv 
Payment Base
Price Per A/P	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to 
Delivery):
	  	  	  	  	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	I	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  
 AVI 

 Page 

 

 The Boeing Company 

P.O. Box 3707 
 Seattle, WA 98124-2207 
 6-1162-DME-0901R1 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Advance Payment Matters
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-8
aircraft (Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All capitalized terms used but
not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 
 [*] 

 

	1.	Advance Payment Schedule - Block 1-1 Aircraft: 

 Notwithstanding the advance payment schedule set forth in Table 1-1 of the Purchase Agreement, Boeing agrees that Customer may make Advance Payments for the Block 1-1 Aircraft in accordance with the
reduced schedule below described, subject to the terms and conditions further described herein: 
  

					
	 Months Prior to Aircraft Delivery
	  	Amount Due per Aircraft
(Percent times
Advance Payment Base Price)	 
	 Definitive Agreement
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 Total
	  	 	[*]	  

 [*]. 
  

	2.	Advance Payment Schedule - Block 1-2 Aircraft: 

 Notwithstanding the advance payment schedule set forth in Table 1-2 of the Purchase Agreement, Boeing agrees that Customer may make Advance Payments for the Block 1-2 Aircraft in accordance with the
reduced schedule below described, subject to the terms and conditions further described herein: 
  

					
	 Months Prior to Aircraft Delivery
	  	Amount Due per Aircraft
(Percent times
Advance Payment Base Price)	 
	 Definitive Agreement
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  

  
 BOEING
PROPRIETARY 

 [*] 
  

	3.	Deferral Charges on Deferred Advance Payments: 

 [*] 
  

	4.	[*]: 

 [*] 

 

	5.	[*]: 

 [*]. 

 

	6.	Confidential Treatment: 

Customer understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as
confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein
to any other person or entity. [*] 
 If the foregoing correctly sets forth your understanding of our agreement with respect to
the matters treated above, please indicate your acceptance and approval below. Very truly yours, 
 EXECUTED IN DUPLICATE as of
the day and year first above written. 
  

			
	THE BOEING COMPANY
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

	
	ACCEPTED AND AGREED TO this
		
	By:	 	21 November 2007
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By:	 	 /s/

		
	 Its
	 	 Attorney –In-Fact

  
 BOEING
PROPRIETARY 

 Page 

 

 6-1162-DME-0903RI 
 Aerovias del Continente Americano S.A. AVIANCA 
 Centro Administrativo 

Avenida El Dorado - No. 92-30 

BogotaColombia 
  

			
	Subject:	  	Right to Purchase Additional Aircraft
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-8
aircraft (Aircraft) Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-8 aircraft (Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All capitalized
terms used but not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 
  

	1.	Basic Purchase Rights 

 Subject
to the terms and conditions contained herein, in addition to the Aircraft described in Table 1-1 to the Purchase Agreement as of the date of execution of this Letter Agreement, Customer will have the right to purchase (Basic Purchase Right) ten
(10) additional Boeing Model 787-8 aircraft on the terms and conditions described in this Letter Agreement (Basic Purchase Right Aircraft). [*] 
 1.1 Delivery. 
 The Basic Purchase Right Aircraft are offered subject to available
position for delivery during the period 01 January 2013 through 31 December 2016, with delivery of three (3) such Basic Purchase Right Aircraft to occur in the calendar years 2013 through 2015, and delivery of one (1) such Basic
Purchase Right Aircraft in calendar year 2016. [*] 
 1.2. Notice of Exercise and Payment of Deposit 

Customer may exercise a Basic Purchase Right by giving written notice to Boeing (Notice of Exercise) of its desire to exercise such Basic
Purchase Right not later than the first business day of the month that is [*] months prior to a requested delivery position. [*] 
 [*] 
 Customer will pay to Boeing by electronic transfer to the account specified
below a deposit (Deposit) in the amount shown on Table 1-1 to the Purchase Agreement for each Basic Purchase Right Aircraft purchased pursuant to the Notice of Exercise. The deposit will be due and payable on the date of Customer’s acceptance
of Boeing’s offered delivery position of a Basic Purchase Right Aircraft. The Deposit will be applied against the first advance payment due for each such Basic Purchase Right Aircraft. 

  
 BOEING
PROPRIETARY 

 [*] 
 1.3. Configuration 
 1.3.1 Subject to the provisions of Article 1.3.2, below, the
configuration for the Basic Purchase Right Aircraft will be the detail specification for model 787-8 aircraft at the revision level in effect at the time of the Notice of Exercise. Such detail specification will be revised to include
(i) changes applicable to such detail specification that are developed by Boeing between the date of the Notice of Exercise and the signing of the definitive amendment to the Purchase Agreement providing for the purchase of the Basic Purchase
Rights Aircraft, (ii) changes required to obtain required regulatory certificates, and (iii) other changes as mutually agreed by Boeing and Customer. 
 1.3.2 Boeing reserves the right to configure the Basic Purchase Right Aircraft starting from a different configuration specification, provided that it can achieve the same configuration which would result
pursuant to the provisions of Article 1.3.1 [*]. 
 1.4. Price 

The Aircraft Price of each Basic Purchase Right Aircraft shall be determined in accordance with the provisions of the Purchase Agreement
using Boeing’s then-current prices at the time of signing of the definitive agreement (Then-current Prices), except that: 

(i) [*] 
 (ii)
Advance payments are required for each Basic Purchase Right Aircraft. The remainder of the Aircraft Price will be due at delivery of each Basic Purchase Right Aircraft. The methodology used to estimate the Advance Payment Base Prices will be that
specified in the Purchase Agreement at the date of signing of this Letter Agreement, and the escalation indices used to estimate the Advance Payment Base Prices [*]the purchase of the [*] as such provisions are modified by any other letter agreement
amending or supplementing the Purchase Agreement. 
 1.5. [*][*] 

1.6. Definitive Purchase Agreement. 
 Following Customer’s decision to exercise a [*], or to exercise an [*], in accordance with the terms and conditions stated herein, the parties will, within [*] calendar days of such exercise (or, if
applicable, within [*] of Customer’s acceptance of an alternate delivery month), sign a definitive amendment to the Purchase Agreement providing for the purchase of [*] Such amendment will include the provisions then contained in the Purchase
Agreement as modified to reflect the provisions of this Letter Agreement and any additional mutually agreed terms and conditions. 
 1.7. General Expiration of Rights. 
 Each Basic Purchase Right shall expire at the
time of execution of the amendment to the Purchase Agreement providing for the purchase of the applicable [*] or, if no such amendment to the Purchase Agreement is executed, on 30 June of each of the calendar years 2012 through 2015 for any
then unexercised [*] with respect to the first calendar year commencing after such date. 

  
 BOEING
PROPRIETARY 

	 	2.	[*] 

 Subject to the terms and
conditions contained herein, in addition to the Aircraft described in Table 1-2 to the Purchase Agreement as of the date of execution of Supplemental Agreement No. 2, Customer will have the right to purchase ([*] Boeing Model 787-8 aircraft on
the terms and conditions described in this Letter Agreement [*]. Customer’s right of substitution with respect to any Boeing Model 787-8 aircraft pursuant to the Purchase Agreement (or any other letter agreement amending and supplementing the
Purchase Agreement) shall be applicable to each such [*]. 
 2.1 Delivery. 

The [*] are offered subject to available position for delivery prior to 31 December 2019. 

2.2. Notice of Exercise and Payment of Deposit 
 Customer may exercise a Special Purchase Right under the same terms and conditions as described in article 1.2 above for Basic Purchase Rights. 

2.3. Configuration 
 With Customer’s exercise of a [*], the configuration will be determined under the [*]. 
 2.4. Price 
 The Aircraft Price of each [*] shall be determined in accordance with
the provisions of the Purchase Agreement using Boeing’s [*]. 
 Advance payments are required for each [*]. The
remainder of the Aircraft Price will be due at delivery of each [*]. The methodology to determine Advance Payment Base Prices and escalation will be based upon Boeing’s [*]. 

2.5 Definitive Purchase Agreement. 
 Following Customer’s decision to exercise a [*], in accordance with the terms and conditions stated herein, the parties will, within thirty (30) calendar days of such exercise (or, if applicable,
within [*] days of Customer’s acceptance of an alternate delivery month), sign a definitive amendment to the Purchase Agreement providing for the purchase of such [*]. Such amendment will include the provisions then contained in the Purchase
Agreement as modified to reflect the provisions of this Letter Agreement and any additional mutually agreed terms and conditions. 

  
 BOEING
PROPRIETARY 

 2.6. General Expiration of Rights. 

Each [*] shall expire at the time of execution of the amendment to the Purchase Agreement providing for the purchase of the
applicable[*], or, if no such amendment to the Purchase Agreement is executed, on 30 June of 2018 for any then unexercised [*]. 
  

	3.	Assignment. 

 The Purchase Rights
described in this Letter Agreement are provided in consideration of Customer’s becoming the operator of each Purchase Right Aircraft, and cannot be assigned, in whole or in part, without the prior written consent of Boeing. 

 

	4.	Confidential Treatment. 

Customer understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as
confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein
to any other person or entity. [*] 
 If the foregoing correctly sets forth your understanding of our agnmment with respect to
the matters treated above, please indicate your acceptance and approval below. 
  

			
	THE BOEING COMPANY
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

	
	ACCEPTED AND AGREED TO this
	
	By: 21 November 2007
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

  
 BOEING
PROPRIETARY 

 Page 

 

 BOEING PROPRIETARY 
 Record of Purchase Right Aircraft Exercised 
  

															
	 Document Description
	  	 Effective Date
	  	Basic
Purchase
Rights
Remaining	 	  	Special
Purchase
Rights
Remaining	 	  	Total
Remaining
Purchase
Rights	 
					
	PA-3075	  	03 October 2006	  	 	7	  	  	 	0	  	  	 	7	  
					
	SA-1	  	28 March 2007	  	 	10	  	  	 	0	  	  	 	10	  
					
	SA-2	  	21 November 2007	  	 	8	  	  	 	2	  	  	 	10	  

  
 BOEING
PROPRIETARY 

 Page 

 

 6-1162-DME-0906R1 
 Aerovias del Continente Americana S.A. AVIANCA 
 Centro Administrativo 

Avenida El Dorado - No. 92-30 
 Bogota

 Colombia 
  

	Subject:	Customer Services Matters 

  

	Reference:	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americana S.A. AVIANCA (Customer) relating to
Model 787-859 aircraft (the Aircraft) 

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement.
All terms used but not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 
 The various [*] elements of
Boeing Customer Support described below are provided as a financial accommodation in consideration of Buyer’s becoming the operator of the Aircraft, and cannot be assigned, in whole or in part, without the prior written consent of The Boeing
Company. 
  

	1.	Block I Aircraft - Boeing/Alteon Maintenance & Flight Training 

 Boeing’s standard Training Point allocation for the direct purchase of seven (7) 787-8 Aircraft is documented in Article 1.1 of the Supplemental Exhibit CS-1 to this Purchase Agreement
No. 3075 with the following language. 
 1.1 Customer is awarded [*] points (Training Points). At any time before [*]
months after delivery of Customer’s last Aircraft (Training Program Period) Customer may [*] may identify at specified point values. At the end of the Training Program Period any unused Training Points will expire. 

1.2. In recognition of Customer’s additional training requirements, Boeing agrees to [*] 

1.3 In the event Customer does go forward with the assignment of [*] Aircraft to Synergy Aerospace Inc., as described in Letter Agreement
No. 6-1162- DME-0904, entitled Special Matters, then Boeing will provide Synergy Aerospace [*] 
 1.4 In the event the
assignment of the [*] Aircraft to Synergy Aerospace Inc., as described in Letter Agreement No. 6-1162-DME-0904, entitled Special Matters does not occur, then customer will receive a basic [*] Training Points in lieu of the basic [*] Training
Points described in paragraph 1.1 above, plus the additional [*] Special Training points described in paragraph 2 above, for a total entitlement of [*] points. 

  
 BOEING
PROPRIETARY 

	2.	[*] Aircraft - Boeing/Ahem Maintenance & Flight Training 

 Customer has taken the decision to exercise two (2) purchase right aircraft to become firmly contracted Aircraft. Customer is awarded [*] Training Points with respect to the additionally contracted
two (2) Aircraft. Also, in recognition of Customer’s specific request to support its additional training requirements, Boeing agrees to [*] Training Points associated with these additional two (2) Aircraft. 

 

	3.	Confidential Treatment 

 Customer
understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential
and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other person or entity. [*] 
  

			
	THE BOEING COMPANY
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

	
	ACCEPTED AND AGREED TO this
	
	By: 21 November 2007
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

 Attachment A 

  
 BOEING
PROPRIETARY 

 Page 

 

													
	Customer:	  	Avianca	  		  		  		  	
						
	Total Firm Aircraft:	  	      7	  		  		  		  	
	Points Allocated:	  	  [*]	  		  		  		  	
							
	787	  	Training Courses	  	 Points per
 Class
	  	 Class
 Requirement
	  	 Points
 Expended
	  	 Per Class
 Student
 Maximum
	  	 Total
 Students
 Trained

	 Flight
	  		  		  		  		  		  	
	 787
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 Cabin Crew
	  		  		  	[*]	  	[*]	  	[*]	  	[*]
	 787
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 Maintenance
	  		  		  	[*]	  	[*]	  	[*]	  	[*]
	 787
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 787
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 787
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 787
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 787
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 787
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 TOTAL POINTS
	  		  		  		  	[*]	  		  	
							
	 POINTS REMAINING
	  		  		  		  	[*]	  		  	

  
 BOEING
PROPRIETARY 

 Page 

 

 6-1162-DME-1089 
 Aerovias del Continente Americano S.A. AVIANCA 
 Centro Administrativo 

Avenida El Dorado - No. 92-30 
 Bogota

 Colombia 
  

	Subject:	[*] 

  

	Reference:	Purchase Agreement No. 3075 (the Purchase Agreement) between 

 The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-8 aircraft (the Aircraft) 
 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in this Letter Agreement have the same meaning as in the Purchase Agreement.

  

	1.	Definitions. 

 [*] 

 

	2.	Applicability. 

 Notwithstanding
any other provision of the Purchase Agreement to the contrary, the parties agree that the [*] for each [*] Aircraft shall be determined in accordance with this Letter Agreement. 

The [*] applicable to a given [*] Aircraft is set forth in Attachment A. 

Customer may choose, and notify Boeing by written notice not later than 01 March 2008, to include all of the Aircraft specified in
[*] of the Purchase Agreement to become [*] Aircraft under the terms of this Letter Agreement, and 
 Customer may choose, and
notify Boeing by written notice not later than 01 March 2008, to include certain specified [*] of the Purchase Agreement to become [*] Aircraft under the terms of this Letter Agreement. 

 

	3.	[*] 

 [*] 

 

	4.	[*] 

 4.1 [*] 

4.1.1 [*] 

  
 BOEING
PROPRIETARY 

 4.1.2 [*] 
 4.2 [*] 
 4.3 [*] 

4.4 [*] 
  

	5.	[*] 

 [*] 

5.1 [*] 
 5.2
[*] 
  

	6.	[*] 

 [*] 

 

	7.	Confidential Treatment. 

 The
information contained in this Agreement represents confidential business information and has value precisely because it is not available generally or to other parties. Customer therefore agrees to limit disclosure of the information contained in
this Agreement to employees of Customer with a need to know or to certain other entities (including Customer’s legal advisors, financiers or governmental authorities) in order to assist Customer in evaluating Customer’s purchase of the
Aircraft and who in turn agree not to disclose its contents to any other person or entity without the prior written permission of Boeing. 
  

			
	THE BOEING COMPANY
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

	
	ACCEPTED AND AGREED TO this
	
	By: 21 November 2007
		
	By:	 	 /s/

		
	Its	 	 Attorney –In-Fact

  
 BOEING
PROPRIETARY 

 Page 

 

 ATTACHMENT A 

[*] 

[*] 

  
 BOEING
PROPRIETARY 

 Page 

 

 ATTACHMENT B 

*[Four pages have been redacted pursuant to a request for confidential treatment] 

  
 BOEING
PROPRIETARY

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