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                                                                    EXHIBIT 10.2

                    CODE SHARE AND REVENUE SHARING AGREEMENT

This CODE SHARE AND REVENUE SHARING AGREEMENT (the "Agreement") is made and
entered into to be effective as of March 20, 2001 (the "Effective Date"), by and
between AMERICA WEST AIRLINES, INC., a Delaware corporation ("AWA"), and
CHAUTAUQUA AIRLINES, INC., a New York corporation ("CAI").

                                 R E C I T A L S

A. AWA holds a certificate of public convenience and necessity issued by the
Department of Transportation ("DOT") authorizing AWA to engage in the interstate
and oversees air transportation of persons, property and mail between all points
in the United States, its territories and possessions.

B. CAI holds a certificate of public convenience and necessity issued by the DOT
authorizing CAI to engage in the interstate transportation of persons, property
and mail in the United States, its territories and possessions.

C. AWA owns various trades marks, services marks and logos, including "America
West Airlines," "America West Express," and distinctive exterior color decor and
patterns on its aircraft, hereinafter referred to individually and collectively
as the "AWA Service Marks".

D. AWA and CAI desire to provide scheduled air transportation services as
America West Express using a Columbus, Ohio hub and to share in the revenue and
costs of such services as provided in this Agreement.

NOW, THEREFORE, in consideration of the promises, covenants, representations and
warranties hereinafter set forth, and for other valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, AWA and CAI agree as
set forth below.

                                A G R E E M E N T

1.       RIGHTS, RESPONSIBILITIES AND OBLIGATIONS OF CAI:

         1.1      FLIGHT SERVICE. Commencing upon the date the first Aircraft is
                  placed into Flight Services pursuant to Section 1.2 (the
                  "Commencement Date"), and continuing during the term of this
                  Agreement, CAI shall operate America West Express air
                  transportation services (the "Flight Services"), using the
                  fleet of aircraft as established pursuant to Section 1.2, to
                  and from Columbus, Ohio as the hub city ("CMH") for the Flight
                  Services, and based upon the schedule established from time to
                  time by AWA (the "Schedule") in written notice to CAI (a
                  "Schedule Notice"). AWA, to the extent reasonably practicable,
                  shall provide CAI with a Schedule Notice at least 60 days
                  prior to any Schedule change. For purposes of this Agreement,
                  "Flights" means flights operated pursuant to the Schedule. AWA
                  may change the Schedule by issuance of a Schedule Notice at
                  any time. When creating a Schedule,

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                  AWA shall: (i) take into account the number of Aircraft in the
                  Fleet and CAI's aircraft maintenance requirements; (ii) create
                  a Schedule which will permit CAI to schedule flight crews in a
                  manner consistent with industry operational practices; (iii)
                  schedule block times based on AWA's internal block time
                  policy; (iv) provide for a minimum of [*] turn time in CMH and
                  [*] turn time in other cities; (v) provide for at least [*] of
                  the Aircraft to remain overnight in CMH for a minimum of [*]
                  hours; (vi) provide for Aircraft to remain overnight at least
                  [*] (vii) take into account airport facilities available for
                  Aircraft handling; (viii) provide for the following Aircraft
                  utilization: (a) an average of not less than [*] block hours
                  per day per Aircraft in the Fleet during each calendar month;
                  (b) an average of [*] Available Seat Miles nor more than [*]
                  Available Seat Miles per day per Aircraft in the Fleet during
                  each calendar month; and (c) an average of not less than [*]
                  departures per day per Aircraft in the Fleet during each
                  calendar month; and (ix) provide for scheduled heavy
                  maintenance on Aircraft as required from time to time. CAI, to
                  the extent reasonably practicable, shall implement all changes
                  in the Schedule contained in a Schedule Notice in accordance
                  with AWA's scheduling requirements but in no event greater
                  than [*] after receipt of a Schedule Notice. CAI or any of
                  its affiliates shall not provide any flight service from
                  Columbus for any other airline utilizing Columbus, Ohio as a
                  hub city. Except as provided in the previous sentence, CAI may
                  provide flight services for other airlines. "Available Seat
                  Miles" means one seat traveling one statute mile.

                  CAI acknowledges that AWA may Schedule Flights using ERJs in
                  and out of the Phoenix, Arizona Sky Harbor International
                  airport. Prior to CAI commencing such Flights, CAI and AWA, in
                  good faith based on prevailing market costs and expenses,
                  [*] to take into consideration the additional and increased
                  cost of operating such Flights in such location. Upon agreeing
                  to the Guaranteed Costs adjustment, AWA and CAI shall execute
                  and attach an addendum to this Agreement supplementing the
                  Guaranteed Costs Schedule. In addition to paying the increased
                  or additional Guaranteed Costs, [*] in connection with
                  establishing Flight Services out of the Phoenix, Arizona Sky
                  Harbor International Airport (the "Transition Costs"). CAI,
                  within 60 days after commencement of such Flights, shall
                  submit to AWA a statement for the Transition Costs together
                  with backup documentation of such Transition Costs (the
                  "Transition Statement"). AWA shall reimburse the Transition
                  Costs within 30 days after receipt of the Transition
                  Statement.

         1.2      FLEET.

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                  1.2.1    INITIAL ERJ FLEET. CAI shall provide the Flight
                           Services using [*] (collectively, the "Fleet" and
                           individually, each an "Aircraft"). [*] shall be
                           placed into Flight Services by CAI during or before
                           each of the following calendar months: August 2001,
                           September, 2001, October 2001 (2 Aircraft), January
                           2002, February 2002, March 2002, April 2002, May
                           2002, June 2002, July 2002, and August 2002 for a
                           total of 12 Aircraft (collectively, the "Firm
                           Aircraft"). CAI shall provide AWA with at least 90
                           days' prior written notice of the calendar week in
                           which each of the Firm Aircraft will be placed into
                           Flight Services under this Agreement (each, a
                           "Scheduled Delivery Week"). If an Aircraft is not a
                           "new" Aircraft from the manufacturer, then the
                           Aircraft shall not be older than [*] from new
                           manufacturer delivery and the interior and exterior
                           shall be decorated, painted and reconfigured to AWA
                           specifications at CAI's sole cost and expense prior
                           to the delivery date.

                  1.2.2    ERJ FLEET EXPANSION. AWA shall have the options to
                           expand the Fleet by [*] to acquire the Aircraft in
                           the years pursuant to that certain agreement with the
                           Aircraft manufacturer referenced on Exhibit D,
                           attached hereto. On or before each Option Exercise
                           Date (set forth in the chart below), AWA, by written
                           notice to CAI, shall have the option to require CAI
                           to increase the Fleet by the addition  of two new
                           Aircraft in the applicable In Service Months (each,
                           a "Fleet Expansion Option"):

<Table>
<Caption>

                                    Option Exercise Date          in Service Months
                                    --------------------          -----------------
<S>                                        [*]                    <C>     [*]

</Table>

                                    [*] The two Aircraft that are the subject
                                    of each Fleet Expansion Option shall be
                                    added to the Fleet by CAI one each in each
                                    of the applicable In Service Months.

                           (c)      CAI shall provide AWA with at least 90 days'
                                    prior written notice of the Scheduled
                                    Delivery Week for each Option Aircraft that
                                    is placed into Flight Service pursuant to
                                    this Section 1.2.2.

                  1.2.3    [*]

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                           Aircraft after the 10th anniversary of the date such
                           Aircraft is placed into Flight Services (each, a
                           [*]). In addition, AWA may require CAI to [*] (i) any
                           [*] after the sixth anniversary of the Commencement
                           Date, and (ii) any [*] after the eighth anniversary
                           of the Commencement Date, by providing CAI with an
                           [*] no less than 365 days prior to the [*] date
                           (each, an [*]). CAI shall remove the applicable
                           Aircraft from providing Flight Services on the date
                           set forth in the [*] (the [*]). From and after the
                           [*], the Aircraft shall no longer be used to provide
                           Flight Services and AWA shall have no further
                           payment obligations under this Agreement for such
                           Aircraft. [*]

                  1.2.4    SPARE AIRCRAFT. The [*] Aircraft placed into Flight
                           Services under this Agreement shall be a spare
                           Aircraft under this Agreement. The spare Aircraft
                           shall be an Aircraft providing Flight Services for
                           all purposes under this Agreement, including, without
                           limitation, payments under Section 6.1.7 and 6.2.

                  1.2.5    FAILED DELIVERY. Notwithstanding anything in this
                           Agreement to the contrary, CAI shall not be liable to
                           AWA for the failure to deliver any Aircraft during a
                           Scheduled Delivery Week (a "FAILED DELIVERY") if: (i)
                           the failure to deliver is the result of the
                           manufacturer's failure to deliver the Aircraft to CAI
                           as a result events, facts or circumstances beyond the
                           control of CAI and not directly or indirectly
                           attributable to or arising or resulting from the acts
                           or omissions of CAI, its agents, employees or
                           contractors; (ii) CAI uses commercially reasonable
                           efforts to acquire a replacement aircraft for the
                           Aircraft that was not delivered; and (iii) [*]
                           (an "EXCUSED FAILURE"). In the event of a Failed
                           Delivery, CAI shall use commercially reasonable
                           efforts to obtain the applicable Aircraft as soon as
                           practicable after the Scheduled Delivery Week. If the
                           Aircraft that is the subject of a Failed Delivery is
                           not delivered within [*] after the Scheduled Delivery
                           Week, then AWA shall have the option to elect not to
                           include such Aircraft under this Agreement by
                           providing written notice to CAI at any time prior to
                           the actual delivery of such Aircraft. If a Failed
                           Delivery is not the result of an Excused Failure,
                           then AWA shall have all rights and remedies under
                           this Agreement for such Failed Delivery.

         1.3      PERSONNEL; TRAINING. CAI shall employ and maintain a
                  sufficient number of competent, trained personnel, including,
                  but not limited to [*]. In addition, CAI shall employ and

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                  maintain a commercially reasonable number of [*] area based
                  on the Flight Services to be provided pursuant to this
                  Agreement. CAI shall cause all CAI personnel providing Flight
                  Services to wear uniforms approved by AWA, which approval
                  shall not be unreasonably withheld, and shall comply with all
                  appearance guidelines required of all AWA personnel.

                  CAI shall provide initial training, recurrent training and
                  customer service training to personnel reasonably identified
                  by AWA at programs approved by AWA. AWA shall provide
                  applicable training materials. [*] all training expenses
                  including [*] travel expenses. In the event AWA becomes a
                  hazardous materials carrier, CAI, at AWA's expense, shall
                  conduct all hazardous materials training required by AWA or
                  AWA's other code share partners.

         1.4      SERVICE QUALITY AND LEVEL. All Flight Services shall be
                  provided by CAI at a service quality and level of service
                  (other than first class service) equal to or greater than the
                  service quality and level of service provided by AWA to the
                  extent applicable to the type of Aircraft used to provide the
                  Flight Services.

         1.5      MAINTENANCE.

                  1.5.1    OBLIGATION. CAI, at its own cost and expense, shall
                           be responsible for the service, repair, maintenance,
                           overhauling and testing of each Aircraft: (i) in
                           compliance with the maintenance program for each
                           Aircraft as approved by the FAA and pursuant to all
                           applicable aircraft maintenance manuals applicable to
                           each Aircraft; (ii) so as to keep each Aircraft in
                           good and safe operating condition; and (iii) so as to
                           keep the Aircraft in such operating condition as may
                           be necessary to enable the airworthiness
                           certification of the Aircraft to be maintained in
                           good standing. CAI shall retain full authority and
                           control over the service, repair, maintenance,
                           overhauling and testing of each Aircraft. AWA shall
                           have no obligations or duties with respect to the
                           service, repair, maintenance, overhauling or testing
                           of any Aircraft.

                  1.5.2    LOCATION. CAI shall maintain its maintenance base for
                           the Aircraft in Columbus, Ohio. CAI shall not
                           relocate its maintenance base, without the prior
                           written consent of AWA, which consent may be withheld
                           if the new location fails to meet AWA's maintenance
                           base requirements. CAI, with the prior written
                           consent of AWA, may add maintenance bases as
                           necessary to provide the Flight Services at locations
                           which meet AWA's maintenance base requirements.

         1.6      EMERGENCY OPERATIONS. CAI and AWA shall coordinate to develop
                  a plan that complies with applicable Regulations (as defined
                  below) to be implemented in the event of any incident
                  involving personal injury or death to a passenger or crew
                  member on a Flight. The emergency response teams of AWA and
                  CAI shall coordinate their efforts and shall cooperate fully
                  in response to such emergency.

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         1.7      FLEET CONFIGURATION. All Aircraft in the Fleet on the
                  Commencement Date and Aircraft added to the Fleet shall have a
                  passenger seating configuration and seating capacity as
                  provided in the first Aircraft in the Fleet. AWA, at AWA's
                  cost and expense, may require CAI to reconfigure or change the
                  seating capacity of an Aircraft. All such requested changes
                  shall be implemented within 180 days after CAI's receipt of
                  written request from AWA. Upon the expiration or termination
                  of this Agreement or the elimination of any reconfigured
                  Aircraft pursuant to Section 1.2.3, AWA, within 30 days after
                  receipt of written request, shall reimburse CAI for all actual
                  out-of-pocket costs and expenses incurred by CAI to
                  reconfigure any Aircraft back to the original configuration
                  existing prior to any reconfiguration requested by AWA.

         1.8      CLEANLINESS. [*], shall cause all Aircraft while remaining
                  overnight at CMH to be cleaned and maintained in an
                  appearance in accordance with cleaning standards, requirements
                  and guidelines promulgated by AWA from time to time.

2.       RIGHTS, RESPONSIBILITIES AND OBLIGATIONS OF AWA.

         2.1      FLIGHT MANAGEMENT ITEMS. AWA, in its sole discretion, shall:
                  (i) designate from time to time, pursuant to each Schedule
                  Notice, the routes on and destinations to which CAI is to
                  provide the Flight Services and the times of departure for the
                  Flights; (ii) set the fares to be paid for such Flights by the
                  passengers; and (iii) be responsible for the passenger
                  booking, yield management and overbooking of Flights, limited
                  only by the Fleet required to be maintained by CAI pursuant to
                  this Agreement.

         2.2      MARKETING/REVENUE. AWA, in its sole discretion and at its sole
                  cost, shall market, advertise and sell tickets on all Flights.
                  AWA shall provide all reservation services for the Flight
                  Services and shall pay all ticketing and advertising expenses,
                  credit card charges, travel agent commissions and CRS fees
                  applicable to such services. AWA shall be entitled to retain,
                  and CAI shall pay to AWA, all revenue and income generated by
                  the Flight Services. CAI shall provide to AWA all tickets and
                  other revenue documentation collected or lifted by CAI. AWA
                  shall process CAI lifted passenger lift documents using
                  standard industry pricing procedures. CAI agrees to cooperate
                  with AWA on any special pricing or reporting requirements. CAI
                  shall supply AWA with specific reporting requirements.

         2.3      AIRPORT SERVICES. [*]: (i) provide curb-side service, check-in
                  service, ticketing and security services for all Flights;
                  (ii) transfer all baggage for passengers connecting to and
                  from AWA flights and Flights; (iii) provide baggage, cargo and
                  mail handling services for all Flights; (iv) provide Aircraft
                  ground handling; (v) provide Aircraft cleaning (other than
                  during overnight turns at CMH) and provisioning during turns
                  and overnight stays; (vi) provide food and beverage supplies
                  for each Flight; and (vii) [*].

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         2.4      OTHER CODE SHARE PARTNERS. AWA shall have the right to enter
                  into code share, joint marketing, charter or other
                  alliance-type agreements with any other flight service
                  commuter operator to provide flight services to any
                  destinations or for any routes. AWA may permit any of AWA's
                  other code share partners to place their code on any Flight.
                  AWA or its code share partners shall pay all costs and
                  expenses incurred by CAI in placing such other code on such
                  Flights.

         2.5      CHARTERS. AWA, at its sole discretion, may market charter
                  flights on the Aircraft. CAI shall operate such charter
                  flights provided flight crews and Aircraft are available and
                  not otherwise subject or committed to maintenance
                  requirements. CAI is required to operate the charters in a
                  manner consistent with the terms of this Agreement. In respect
                  of any charter flight, AWA and CAI, in good faith, shall
                  negotiate the costs and expenses to be paid by AWA for such
                  services.

         2.6      AIRPORT SLOTS. AWA shall provide to CAI the right to use the
                  airport slots owned by AWA at airports that are or become slot
                  controlled (the "Slots"). The Slots shall at all times remain
                  the property of AWA and upon the expiration or earlier
                  termination of this Agreement or upon the request of AWA, CAI
                  shall take all steps necessary to insure all rights acquired
                  by CAI in the Slots, if any, are conveyed to AWA or any other
                  person or entity designated by AWA.

         2.7      HANGER. AWA shall use commercially reasonable efforts to
                  provide CAI with hanger space at CAI leased by AWA (the
                  "Hanger"). Prior to entering into a lease for hanger space at
                  CMH, CAI shall meet and confer with AWA as to the availability
                  of the Hanger. If CAI executes a lease for hanger space at
                  CMH, then CAI shall not be required to use the Hanger provided
                  by AWA unless AWA reimburses CAI for all costs and expenses
                  incurred by CAI in terminating the lease and any unamortized
                  capital improvements to such space. If AWA provides the Hanger
                  to CAI, then the Guaranteed Costs shall be reduced by an
                  amount equal to the actual occupancy costs being paid by CAI
                  at CMH.

3.       COMPLIANCE WITH REGULATIONS.

         3.1      REGULATIONS. CAI shall perform its obligations and duties
                  under this Agreement, including, without limitation, all
                  Flight Services in full compliance with any and all applicable
                  laws, ordinances, codes, statutes, orders, directives,
                  mandates, requirements, rules and regulations, whether now in
                  effect or hereafter adopted or promulgated, of all
                  governmental agencies having jurisdiction over CAI's
                  operations, including but not limited to the FAA and the DOT
                  (collectively, "Regulations").

         3.2      FLIGHT OPERATIONS. CAI shall be responsible for the operation
                  of each Aircraft and the safe performance of the Flights in
                  accordance with the Regulations and airline industry standard
                  practice and shall retain full authority, operational control
                  and possession of the Aircraft to do so. CAI, its

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                  agents or employees, for the purpose of the safe performance
                  of the Flights, shall have absolute discretion in and shall
                  have sole responsibility for all matters concerning the
                  preparation of each Aircraft for its Flights, and all other
                  matters relating to the technical operation of the Aircraft.
                  CAI, insofar as such relates to the safe operation of a
                  Flight, shall have sole and absolute discretion as to the load
                  carried and its distribution and as to the decision whether
                  such Flight shall be taken. CAI shall be solely responsible
                  for and AWA shall have no obligations or duties with respect
                  to the dispatch of all Flights.

         3.3      REGISTRATION. All Aircraft shall remain registered in the
                  United States of America in accordance with the Regulations.

         3.4      DISCLOSURE. CAI, upon 3 business days' prior written request,
                  shall provide AWA the opportunity to review all operating
                  specifications, operational regulations, manuals and
                  calculations with respect to all Aircraft and flight
                  statistics with respect to all Flights at CAI's corporate or
                  other relevant offices where such records are located.

         3.5      REVIEW/AUDIT. AWA, [*], may review, at CAI's corporate office,
                  airport ticket offices and other relevant offices, all
                  records, books, logs, files, documentation and information
                  maintained by CAI, or any of its maintenance or service
                  contracts, in connection with Flight operation, safety and
                  regulatory compliance, employee training, Flight dispatch,
                  Aircraft use, operation, maintenance and repair, Flight
                  incidents and governmental orders, mandates and requirements.

         3.6      REPORTING. This Agreement shall be treated as a code share for
                  DOT reporting requirements. AWA, in a timely manner, shall
                  provide CAI with such information necessary for CAI to make
                  the DOT reports and disclosures.

4.       OPERATIONAL PERFORMANCE CRITERIA, INCENTIVES AND PENALTIES.

         4.1      ON TIME PERFORMANCE RATE CRITERIA. [*],

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         4.2      FLIGHT COMPLETION FACTOR. [*] "FCF" is defined as the
                  percentage of published, scheduled Flights completed for a
                  calendar month. Flights not completed due to events or
                  circumstances beyond the control of CAI, its employees,
                  agents, contractors or subcontractors, including, without
                  limitation, weather, air traffic control failures, the acts or
                  omissions of AWA, its employees, agents or contractors, the
                  grounding of all the Aircraft as a result of a governmental
                  requirement applied to all aircraft similar to the Aircraft,
                  the failure of the Aircraft manufacturer to deliver an
                  Aircraft timely (except to the extent such delay is caused by
                  CAI ) and acts of God will not be included for calculating the
                  FCF. For purposes of the prior sentence, all Aircraft
                  maintenance and repair events or circumstances shall be deemed
                  to be within CAI's control. [*]

         4.3      RECORDS. All records of Delayed and canceled flights (the
                  "Flight Records") shall be input into AWA's internal MAPPER
                  System ("MAPPER System"). AWA shall make the Flight Records
                  available to CAI through a computer link to the MAPPER
                  System. [*] If CAI does not object to any entry, timely, then
                  absent manifest error, the MAPPER System Flight Records
                  shall control. If CAI does object to any entry, timely,
                  then CAI and AWA, in good faith, shall work to correct the
                  error within 24 hours after the objection is made and if
                  CAI and AWA agree to revise the entry, then AWA shall
                  revise the entry in the MAPPER System. [*]

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         4.4      SETOFF. All undisputed sums payable by CAI to AWA pursuant to
                  this Section 4 may, at AWA's election, be setoff against
                  amounts next due by AWA to CAI pursuant to this Agreement.

         4.5      DUPLICATIVE PAYMENTS. [*] If penalties or bonuses are due for
                  both the OTP Rate or FCF in any calendar month, [*].

5.       [*]

         AWA, by written notice given to CAI at the end of any calendar month in
         which CAI's OTP Rate falls below [*], shall [*] this Section 5 (the
         "Denied Boarding Invoice"). CAI shall [*]. The Denied Boarding
         Invoice shall be accompanied by [*].

6.       PAYMENT OF FEES/REVENUE SHARING. Commencing on the Commencement Date,
         CAI and AWA hereby agree to pay the following sums as consideration for
         this Agreement and the provision of the Flight Services and Other
         Services provided for herein:

         6.1      CAI ACTUAL COSTS. AWA, in accordance with Section 6.5, [*]

                  6.1.1    [*]

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                           [*]

                  6.1.2    [*]

                  6.1.3    [*]

                  6.1.4    [*]

                  6.1.5    [*]

                  6.1.6    [*]

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                  6.1.7    [*]

                  6.1.8    [*]

                  6.1.9    [*]

                  6.1.10   [*]

                  [*]

         6.2      CAI GUARANTEED COSTS. Commencing on the Commencement Date,
                  AWA, in accordance with Section 6.5, shall pay to CAI the
                  amounts set forth in and determined in accordance with the
                  number of Aircraft in Flight Services as set forth in Exhibit
                  A (the "Guaranteed Costs Schedule"),

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                  [*] (the "Guaranteed Costs"). If the term of this Agreement
                  commences or expires or an Aircraft is added or eliminated
                  from the Fleet on other than the first or last day of a
                  calendar month, then the Guaranteed Costs payable by AWA
                  under this Agreement, for existing Aircraft and for such
                  additional Aircraft shall be prorated based on the actual
                  number of days this Agreement is in effect, the actual
                  number of days before and after an Aircraft is added or
                  eliminated for existing Aircraft, and the number of days
                  the new Aircraft is in the Fleet during such month and the
                  actual number of days in such month. Guaranteed Costs shall
                  not be incurred for an Aircraft until it is placed into
                  Flight Services under this Agreement which in no event
                  shall be sooner that 7 days prior to the Scheduled Delivery
                  Week for an Aircraft. For purposes of prorating Guaranteed
                  Costs on existing Aircraft the actual date that an Aircraft
                  is placed into or eliminated from Flight Services shall be
                  used.

         6.3      CONTRACT NEGOTIATION. AWA, in its sole discretion, may assist
                  CAI in the negotiation of contracts for the provision of
                  materials or services, including, without limitation, fuel,
                  subject to the Actual Costs and Guaranteed Costs; provided CAI
                  is not subject to an existing contract for such services or
                  materials.

         6.4      CONSUMER PRICE INDEX ADJUSTMENT. For the purposes of
                  calculating CPI increases in certain categories of the
                  Guaranteed Costs as provided in Exhibit A and the Revenue Rate
                  pursuant to Section 6.6, the following definitions and
                  formulas shall be applied:

                  6.4.1    DEFINITION. "CPI" shall mean the Consumer Price
                           Index, U.S. City Average, All Urban Consumers, All
                           Items (base index year 1982-84 = 100) as published by
                           the United States Department of Labor, Bureau of
                           Labor Statistics. If the manner in which the Consumer
                           Price Index as determined by the Bureau of Labor
                           Statistics shall be substantially revised, including,
                           without limitation, a change in the base index year,
                           an adjustment shall be made by the parties in such
                           revised index which would produce results equivalent,
                           as nearly as possible, to those which would have been
                           obtained if such Consumer Price Index had not been so
                           revised. If the Consumer Price Index shall become
                           unavailable to the public because publication is not
                           readily available to enable the parties to make the
                           adjustment referred to in this Section, then the
                           parties shall mutually agree to substitute therefor a
                           comparable index based upon changes in the cost of
                           living or purchasing power of the consumer dollar
                           published by any other governmental agency or, if no
                           such index shall be available, then a comparable
                           index published by a major bank or other financial
                           institution or by a university or a recognized
                           financial publication.

                  6.4.2    ADJUSTMENT FORMULA. [*]

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                           [*]

         6.5      PAYMENT OF ACTUAL AND GUARANTEED COSTS. Commencing on the
                  Commencement Date, AWA shall pay to CAI the estimated
                  Actual Costs and Guaranteed Costs for each calendar month
                  based on [*] as follows: By the 20th day of each calendar
                  month commencing July 20, 2001, CAI shall provide AWA with
                  a statement of the Estimated Costs for the following month.
                  CAI shall use its commercially reasonable judgment to
                  establish the Estimated Costs for each month. For purposes
                  of the Estimated Costs, AWA's fuel cost forecasts shall
                  apply. On or before the 5th, 10th, 15th and 20th day of
                  each calendar month (or next business day thereafter if any
                  such dates is other than a business day), AWA shall pay [*]
                  of the Estimated Costs for such calendar month.

                  On or before the 25th day of each calendar month, CAI shall
                  submit to AWA a statement of the actual Guaranteed Costs and
                  Actual Costs (the "Incurred Costs") payable by AWA for the
                  prior calendar month (the "Incurred Costs Statement"). If the
                  Estimated Costs paid by AWA in any calendar month exceed the
                  Incurred Costs in any calendar month, then CAI, together with
                  the Incurred Costs Statement for such calendar month, shall
                  reimburse AWA the amount by which the Estimated Costs paid by
                  AWA exceeded the Incurred Costs. If the Incurred Costs in any
                  calendar month exceed the Estimated Costs paid by AWA in any
                  calendar month, then AWA within [*] after receipt of the
                  Incurred Costs Statement, shall reimburse and pay to CAI the
                  amount by which the Incurred Costs exceed the Estimated Costs
                  paid by AWA for the subject calendar month.

         6.6      SEGMENT REVENUE SHARING. Commencing in the first calendar
                  month after the month in which the Commencement Date occurs,
                  AWA shall pay to CAI, by the 20th day of each calendar month,
                  an amount equal to [*]

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                  For purposes of this Agreement, the following terms have the
                  following definitions:

                  "Segment Revenue" means [*] For calculating Segment
                  Revenue, [*]

                  "Segment Revenue Percentage" means [*]

         6.7      STATEMENTS AND AUDIT RIGHTS. All Incurred Costs Statements and
                  other requests for payment made by CAI pursuant to this
                  Section 6 shall be [*] AWA, by written notice given within
                  [*] set forth in an Incurred Costs Statement and, within [*]
                  all records and files (including computer data bases) [*]
                  If AWA does not object to an Incurred Costs Statement
                  timely, then the Incurred Costs Statement, absent fraud,
                  shall be final.

7.       TERM AND TERMINATION. The term of this Agreement (the "Term") shall
         commence on the Effective Date and expire on the 10th anniversary of
         the date that the last Aircraft is added to the Fleet pursuant to
         Section 1.2 of this Agreement ("Expiration Date"), unless earlier
         terminated as provided in this Agreement. AWA, [*] to CAI
         ("Termination Notice"), may terminate this Agreement [*] (the
         "Cancellation Event"). [*]pursuant to Section 12 if a Cancellation
         Event shall occur. Such termination right shall be [*] If AWA elects
         to terminate this Agreement pursuant to this Section 7, AWA, in the
         Termination Notice, shall establish as the termination date [*]

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         [*] AWA and CAI shall make all payments as required by this
         Agreement for the period through and including the termination date
         set forth in the Termination Notice.

8.       SERVICE MARK LICENSE FOR SERVICES PROVIDED BY CAI.

         8.1      GRANT OF LICENSE. For the payment of [*], AWA hereby grants
                  to CAI a non-exclusive, non-transferable license to use such
                  AWA Service Marks as AWA may designate, in writing, from
                  time-to-time in connection with the Flight Services and Other
                  Services to be rendered by CAI; provided, however, that at any
                  time prior to expiration or termination of this Agreement AWA
                  may alter, amend or revoke the license hereby granted and
                  require CAI's use of any new or different AWA Service Mark in
                  conjunction with the Services provided hereunder as AWA may
                  determine in its sole discretion and judgment.

         8.2      OPERATION UNDER AWA SERVICE MARKS. CAI shall [*] cause the
                  Fleet and any replacement Aircraft utilized by CAI to
                  provide the Flight Services, to bear AWA Service Marks,
                  consisting of AWA aircraft exterior and interior color
                  decor and pattern provided by AWA and the name "America
                  West Express." Upon written notice from AWA, which shall
                  include the specifications for any such changes in AWA
                  Service Marks and exterior or interior aircraft decor and
                  patterns, CAI shall effect changes in the aircraft decor
                  and patterns within 3 months from the date of such notice.
                  AWA shall reimburse CAI for the cost of repainting and
                  redecorating the Fleet in the event that AWA changes its
                  logo and color decor and pattern from the design existing
                  as of the Effective Date. CAI shall use and display
                  suitable signs on the interior and exterior of each
                  Aircraft identifying CAI as the operator of the Services,
                  such signs shall be subject to the prior written consent of
                  AWA as to nature, size and location provided that the signs
                  shall comply with all Regulations. All announcements,
                  displays or literature used or viewed by CAI customers on
                  Flights shall highlight "America West Express." No such
                  announcements, displays or literature shall reference "CAI
                  Airlines," other than to identify CAI or the operator of
                  the Services, on briefing cards or as required by the
                  Regulations.

         8.3      TERMS AND CONDITIONS GOVERNING TRADEMARK LICENSE.

                  8.3.1    CAI hereby acknowledges AWA's ownership of the AWA
                           Service Marks, further acknowledges the validity of
                           the AWA Service Marks, and agrees that it shall not
                           do anything in any way to infringe or abridge upon
                           AWA's rights in the AWA Service Marks or directly or
                           indirectly to challenge the validity of the AWA
                           Service Marks.

                  8.3.2    To assure that the production appearance and quality
                           of the AWA Service Marks is consistent with AWA's
                           reputation for high quality and the goodwill
                           associated with the AWA Service Marks, CAI agrees to
                           maintain a level of quality consistent with AWA's
                           quality in the

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                           Flight Services it provides pursuant to this
                           Agreement and to follow AWA's written instructions
                           regarding use of AWA's Service Marks, as they may be
                           amended from time to time.

                  8.3.3    CAI agrees that, in providing the Flight Services, it
                           shall not advertise or make use of the AWA Service
                           Marks without the prior written consent of AWA. AWA
                           shall have absolute discretion to withhold its
                           consent concerning any and all such advertising and
                           use of the AWA Service Marks in any advertising by
                           CAI. In the event AWA approves the use of such AWA
                           Service Marks in any advertising, such advertising
                           shall identify AWA as the owner of such Service Marks
                           and conform with any additional requirements
                           specified by AWA.

                  8.3.4    To the extent that CAI is licensed to use the AWA
                           Service Marks, the AWA Service Marks shall be used
                           only in connection with the Flight Services
                           specifically covered by this Agreement and not in
                           connection with any other business or activity of CAI
                           or any other entity, except for approved charters.

                  8.3.5    Nothing in this Agreement shall be construed to give
                           CAI the exclusive right to use the AWA Service Marks
                           or abridge AWA's right to use and license the AWA
                           Service Marks, and AWA hereby reserves the right to
                           continue to use the AWA Service Marks and to license
                           such other uses of the AWA Service Marks as AWA may
                           desire.

                  8.3.6    No term or provision of this Agreement shall be
                           construed to preclude the use of the AWA Service
                           Marks, including "America West Express," or the
                           aircraft exterior color decor and patterns by other
                           individuals or entities not covered by this
                           Agreement.

                  8.3.7    Upon the termination or expiration of this Agreement,
                           the license and use of the AWA Service Marks by CAI
                           shall cease and such use shall not thereafter occur.

9.       LIABILITY AND INDEMNIFICATION.

         9.1      RELATIONSHIP BETWEEN THE PARTIES. Nothing contained in this
                  Agreement will be deemed to create any agency or partnership
                  or similar relationship between AWA and CAI. Nothing contained
                  in this Agreement will be deemed to authorize either AWA or
                  CAI to bind or obligate the other. CAI and its employees
                  engaged in performing the Flight Services shall be employees
                  of CAI for all purposes, and under no circumstances shall be
                  deemed to be employees, agents or independent contractors of
                  AWA. AWA and its employees engaged in performing the
                  obligations of AWA under this Agreement shall be employees,
                  agents and independent contractors of AWA for all purposes,
                  and under no circumstances shall be deemed to be employees,
                  agents or independent contractors of CAI. Pursuant to this

                                       17
<Page>

                  Agreement, CAI shall act, for all purposes, as an independent
                  contractor and not as an agent for AWA. AWA shall have no
                  supervisory power or control over any employees engaged by CAI
                  in connection with its performance hereunder, and all
                  complaints or requested changes in procedures shall be
                  transmitted by AWA to a designated officer of CAI. Nothing
                  contained in this Agreement shall be intended to limit or
                  condition CAI's control over its operations or the conduct of
                  its business as an air carrier, and CAI and its principals
                  assume all risks of financial losses which may result from the
                  operation of the Flight Services to be provided by CAI
                  hereunder.

         9.2      INDEMNIFICATION BY CAI. CAI agrees to indemnify, defend and
                  hold harmless AWA, its directors, officers, employees, agents,
                  parent corporation, subsidiaries and affiliates for, from and
                  against any and all loss, liability, claim, damage, penalty,
                  fine, charge, cause of action, demand, cost and expense
                  (including attorneys' and consultants' fees and costs)
                  whatsoever (collectively, "Damages"), as incurred, arising out
                  of, resulting from or incurred in connection with: (i) the
                  provision of the Flight Services by CAI; (ii) CAI's breach of
                  this Agreement; (iii) damage or destruction of property of any
                  person, or injury or death of any person, caused by, arising
                  out of, or in connection with any act or omission of CAI, its
                  employees, agents, licensees, contractors, suppliers, officers
                  or directors; (iv) any taxes, impositions, assessments or
                  other governmental charges incurred by CAI in providing the
                  Flight Services or imposed on any revenue generated by this
                  Agreement (except as set forth in Section 6.1.3); (v)
                  passenger complaints or claims by passengers using the Flight
                  Services; and (vi) failure to comply with any Regulations. CAI
                  shall reimburse AWA or other Indemnified Party (as defined
                  below) for any legal and any other expenses reasonably
                  incurred in investigating, preparing or defending against any
                  claim or action arising out of or relating to any of the
                  foregoing.

         9.3      INDEMNIFICATION BY AWA. AWA agrees to indemnify, defend and
                  hold harmless CAI, its directors, officers, employees, agents,
                  parent corporation, subsidiaries and affiliates for, from and
                  against any and all Damages, as incurred, arising out of,
                  resulting from or incurred in connection with: (i) AWA's
                  breach of this Agreement; (ii) damage or destruction of
                  property of any person, or injury or death of any person,
                  caused by, arising out of, or in connection with any act or
                  omission of AWA, its employees, agents, licensees,
                  contractors, suppliers, officers or directors in performing
                  AWA's obligations under this Agreement to the extent not
                  covered by insurance required to be maintained by CAI pursuant
                  to this Agreement; and (iii) any taxes, impositions,
                  assessments or other governmental charges incurred by AWA for
                  revenue received by AWA under this Agreement. AWA shall
                  reimburse CAI or other Indemnified Party (as defined below)
                  for any legal and any other expenses reasonably incurred in
                  investigating, preparing or defending against any claim or
                  action arising out of or relating to any of the foregoing.

         9.4      CONDUCT OF INDEMNIFICATION PROCEEDINGS. The person or entity
                  claiming indemnification hereunder is referred to as the
                  "Indemnified Party" and the

                                       18
<Page>

                  party against whom such claims are asserted hereunder is
                  referred to as the "Indemnifying Party". Each Indemnified
                  Party shall give reasonably prompt notice to the
                  Indemnifying Party of any action or proceeding or assertion
                  or threat of claim commenced against it in respect of which
                  indemnity may be sought hereunder, but failure to so notify
                  the Indemnifying Party (i) shall not relieve the
                  Indemnifying Party from any liability which it may have
                  under the indemnity agreement provided in this Agreement,
                  unless and to the extent it did not otherwise learn of such
                  action, threat or claim and the lack of notice by the
                  Indemnified Party results in the forfeiture by the
                  Indemnifying Party of substantial rights and defenses and
                  (ii) shall not, in any event, relieve the Indemnifying
                  Party from any obligations to the Indemnified Party other
                  than the indemnification obligation provided under Sections
                  9.2 and 9.3 above. If the Indemnifying Party elects within
                  a reasonable time after receipt of notice, the Indemnifying
                  Party may assume the defense of the action or proceeding at
                  Indemnifying Party's own expense with counsel chosen by the
                  Indemnifying Party and approved by the Indemnified Party;
                  PROVIDED, HOWEVER, that, if the Indemnified Party
                  reasonably determines upon advice of counsel that a
                  conflict of interest exists where it is advisable for the
                  Indemnified Party to be represented by separate counsel or
                  that, upon advice of counsel, there may be legal defenses
                  available to it which are different from or in addition to
                  those available to the Indemnifying Party, then the
                  Indemnified Party shall be entitled to separate counsel at
                  the Indemnifying Party's expense, which counsel shall be
                  chosen by the Indemnified Party in its sole discretion. If
                  the Indemnifying Party does not assume the defense, after
                  having received the notice referred to in the second
                  sentence of this Section, the Indemnifying Party will pay
                  the reasonable fees and expenses of counsel for the
                  Indemnified Party. Unless and until a final judgment that
                  an Indemnified Party is not entitled to the costs of
                  defense under the foregoing provision, the Indemnifying
                  Party shall reimburse, promptly as they are incurred, the
                  Indemnified Party's costs of defense. The Indemnifying
                  Party shall not settle or compromise any claim for which an
                  Indemnified Party is entitled to indemnity without the
                  prior written consent of the Indemnified Party.

                                       19
<Page>

9.5      INSURANCE.

         9.5.1    CAI, at all times during the Agreement, shall have and
                  maintain in full force and effect, policies of insurance
                  satisfactory to AWA, of the types of coverage, and in the
                  minimum amounts stated below with insurance companies
                  satisfactory to AWA and under terms and conditions
                  satisfactory to AWA, including insurance coverage on all
                  Aircraft used to provide Flight Services. Unless otherwise
                  specified, the minimum amounts of insurance coverage required
                  hereunder shall be per occurrence, combined single limit for
                  all insurance coverage required hereunder.

<Table>
<S>                               <C>      <C>                                 <C>
                            1.    Aircraft Liability and Ground Liability      [*]
                                  Insurance (including Commercial General
                                  Liability)

                                  a.       Bodily Injury and Personal Injury   [*]
                                           - Passengers

                                  b.       Bodily Injury and Personal Injury   [*]
                                           - Third Parties

                                  c.       Property Damage                     [*]

                                                                               Per Accident
                                                                               ------------

                            2.    Worker's Compensation Insurance (Company     [*]
                                  Employees)

                            3.    Employers' Liability (Company Employees)     [*]

                            4.    All Risk Hull Insurance on Aircraft          [*]
                                  Performing Services Hereunder

                            5.    Baggage Liability                            [*]

                            6.    Cargo Liability                              [*]

                                                                               [*]

</Table>

         9.5.2    The parties hereby agree that from time to time during the
                  Term of this Agreement, AWA may require CAI to have and
                  maintain amounts of insurance coverage different from those
                  amounts set forth

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                  in Section 9.5.1, should AWA, in its reasonable judgment, deem
                  the circumstances and conditions of the Flight Services to
                  require increases in any or all of the foregoing minimum
                  insurance coverages.

         9.5.3    CAI shall cause all policies of insurance which it maintains
                  pursuant to this Agreement, to be duly and properly endorsed
                  by CAI's insurance underwriters as follows:

                  9.5.3.1  To provide that any waiver of rights of subrogation
                           against other parties by CAI shall not affect the
                           coverage provided hereunder with respect to AWA.

                  9.5.3.2  To provide that CAI's underwriters shall waive any
                           and all subrogation rights against AWA, its
                           directors, officers, agents and employees without
                           regard to any breach of warranty by CAI or to provide
                           other evidence of such waiver of recourse against
                           AWA, its directors, officers, agents, or employees as
                           shall be acceptable to AWA.

                  9.5.3.3  Be duly and properly endorsed to provide that each
                           such policy or policies or any part or parts thereof
                           shall not be canceled, terminated, or materially
                           altered, changed or amended by CAI's insurance
                           underwriters, until after [*] written notice shall
                           commence to run from the date such notice is
                           actually received by AWA.

         9.5.4    With respect to policies of insurance described as Aircraft
                  Liability and Ground Liability Insurance, CAI will provide
                  that such policies:

                  9.5.4.1  Endorse AWA, its directors, officers, agents,
                           parents, subsidiaries and employees as Additional
                           Insureds thereunder.

                  9.5.4.2  Constitute primary insurance for such claims and
                           acknowledge that any other insurance policy or
                           policies of AWA will be secondary or excess
                           insurance;

                  9.5.4.3  [*]

                  9.5.4.4  Provide a [*]

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         9.5.5    With respect to policies of insurance for coverage described
                  as Aircraft Liability and General Liability Insurance and All
                  Risk Hull Insurance, CAI shall cause its insurance
                  underwriters to provide a breach of warranty clause.

         9.5.6    All aircraft hull insurance provided pursuant to [*] In the
                  event of loss, settled on the basis of a total loss, all
                  losses shall be payable in full.

         9.5.7    Prior to the Commencement Date and from time to time
                  thereafter upon request by AWA, CAI shall furnish to AWA
                  evidence satisfactory to AWA of the aforesaid insurance
                  coverage and endorsements, including certificates certifying
                  that the aforesaid insurance policy or policies with the
                  aforesaid policy limits are duly and properly endorsed as
                  aforesaid and are in full force and effect.

         9.5.8    With respect to policies of insurance obtained directly from
                  foreign underwriters, CAI shall cause such insurance
                  underwriters to provide that AWA may maintain against CAI's
                  underwriters a direct action in the United States upon such
                  insurance policies and to this end to provide a standard
                  service of suit clause designating an agent for service of
                  process in the United States of America.

         9.5.9    In the event CAI fails to maintain in full force and effect
                  any of the insurance and endorsements described in Section
                  9.5, AWA shall have the right (but not the obligation) to
                  procure and maintain such insurance or any part thereof. The
                  cost of such insurance shall be payable by CAI to AWA upon
                  demand by AWA. The procurement of such insurance or any part
                  thereof by AWA shall not discharge or excuse CAI's obligation
                  to comply with the provisions of Section 9.5. CAI agrees not
                  to cancel, terminate or materially alter, change or amend any
                  of the policies referred to in Section 9.5 without [*] to AWA
                  of its intent to cancel, terminate or materially alter,
                  change or amend said policies or insurance which [*]

         9.5.10   AWA shall maintain cargo liability coverage, in types and
                  amounts required by law, for all air freight transported by
                  CAI under an AWA airbill on any Flights.

         9.5.11   CAI shall use commercially reasonable efforts to divide the
                  Fleet from CAI's turbo prop fleet in order to reduce its
                  liability insurance costs. AWA, in its sole discretion, may
                  elect to acquire the liability insurance required to be
                  maintained by CAI on behalf of CAI.

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<Page>

10.      CONFIDENTIALITY.

         10.1     AWA and CAI agree that the terms of this Agreement shall be
                  treated as confidential and shall not be disclosed to third
                  parties without the express written consent of AWA and CAI, or
                  as required by law. In the event of disclosure required by
                  law, only those portions of this Agreement required to be
                  disclosed shall be disclosed. The disclosing party shall make
                  good faith efforts to minimize the portions to be disclosed
                  and shall seek confidential treatment by the receiving party
                  or agency for any portions disclosed. In the event of one
                  party being served a subpoena or discovery request, prior to
                  responding to the subpoena or request, the party served shall
                  notify the other party to provide the other party an
                  opportunity to contest the disclosure of any terms of this
                  Agreement.

         10.2     "Confidential Information" means any information in any form,
                  including, without limitation, the terms of this Agreement,
                  written documents, oral communications, recordings, videos,
                  software, data bases, business plans, and electronic and
                  magnetic media, provided to or observed by AWA or CAI pursuant
                  to this Agreement, including information owned or provided by
                  either party to the other party, except for information
                  generally available to the public. AWA and CAI agree that they
                  shall maintain all Confidential Information in confidence and
                  use such Confidential Information solely for purposes of
                  performance under this Agreement. Such Confidential
                  Information shall be distributed within each party's company
                  only to personnel and to its legal counsel, auditors and other
                  consultants on a need-to-know basis for purposes related to
                  this Agreement or in compliance with a court order or
                  statutory or regulatory requirements. Except for legal counsel
                  and auditors, and as permitted by Section 10.1, in no event
                  shall either party disclose Confidential Information to any
                  third parties except subcontractors and independent
                  consultants and then only if approved by both parties in
                  writing in advance of such disclosure. Confidential
                  Information does not include information that is available to
                  the general public other than as a result of disclosure by the
                  disclosing party or information that was known or
                  independently developed by the receiving party prior to
                  disclosure, as evidenced by records kept in the ordinary
                  course of business.

         10.3     CAI acknowledges and agrees that any Confidential Information
                  shared or given to AWA pursuant to this Agreement may be
                  shared by AWA on a confidential basis with America West
                  Holdings Corporation, The Leisure Company and other
                  subsidiaries and affiliates of AWA. AWA acknowledges and
                  agrees that the terms of this Agreement and any Confidential
                  Information shared or given to CAI pursuant to this Agreement
                  may be shared by CAI on a confidential basis with Wexford
                  Capital LLC, CAI's financial partners and financial providers
                  and other subsidiaries or affiliates of CAI and may be
                  disclosed to the extent legally required or necessary.

11.      TAXES. [*] shall pay, prior to delinquency, all airport, property,
         sales, use, excise or any other taxes, impositions, assessments or
         other governmental charges incurred in connection with the provision of
         the Flight Services under this Agreement and all

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<Page>

         taxes imposed or any sums paid by [*] under this Agreement. [*]
         shall pay, prior to delinquency, all taxes imposed on any sums paid by
         [*] under this Agreement.

12.      DEFAULTS AND REMEDIES.

         12.1     DEFAULT BY CAI. The occurrence of any one or more of the
                  following events shall constitute a material default and
                  breach of this Agreement by CAI (an "Event of Default"):

                  12.1.1   The failure of CAI to make any payment required to be
                           made by CAI to AWA hereunder, as and when due, and
                           such failure continues for [*]

                  12.1.2   If CAI is required by the FAA or DOT to suspend a
                           substantial portion of its operations for any
                           safety reason and has not resumed such operation
                           within [*]of the suspension or if CAI [*] of the
                           Flight Services for any other reason, except as a
                           result of an emergency airworthiness directive
                           from the FAA affecting all aircraft similarly
                           equipped to the Aircraft (not just those owned or
                           operated by CAI);

                  12.1.3   The failure of CAI to observe or perform any of the
                           covenants, conditions or provisions of this Agreement
                           to be observed or performed by CAI, other than as
                           described in Sections 7 or 12.1.1 or 12.1.2 above,
                           and such failure shall continue for a period of 15
                           days after written notice thereof from AWA to CAI;

                  12.1.4   (i) the cessation of CAI's business operations as a
                           going concern; (ii) the making of CAI of any general
                           assignment, or general arrangement for the benefit of
                           creditors; (iii) the failure of CAI to generally pay
                           CAI's debts as they come due or CAI's written
                           admission of its inability to pay its debts as they
                           come due; (iv) the filing by or against CAI of a
                           petition to have CAI adjudged bankrupt or a petition
                           for reorganization or arrangement under any law
                           relating to bankruptcy (unless, in the case of
                           petition filed against CAI, the same is dismissed,
                           stayed or vacated within 60 days); (v) an
                           adjudication of CAI's insolvency; (vi) appointment of
                           a trustee or receiver to take possession of
                           substantially all of CAI's assets which is not
                           dismissed, stayed or vacated within 60 days; or (vii)
                           the attachment, execution or other judicial seizure
                           of all of CAI's assets.

                  12.1.5   Upon an Event of Default, AWA may: (a) by written
                           notice to CAI (a "Default Termination Notice")
                           terminate this Agreement effective as of the date
                           set forth in the Default Termination Notice which
                           date[*] and/or (b) pursue all other rights and
                           remedies available at law or in

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                                       24
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                           equity to AWA for the Event of Default, including,
                           without limitation, injunctive relief, specific
                           performance and damages. After receipt of a Default
                           Termination Notice, CAI shall continue to provide the
                           Flight Services in accordance with this Agreement
                           until the termination date set forth in the Default
                           Termination Notice. No remedy or election by AWA
                           hereunder shall be deemed exclusive, but shall,
                           wherever possible, be cumulative with all other
                           rights and remedies at law or in equity.

         12.2     AWA DEFAULT. The occurrence of any one or more of the
                  following events shall constitute a material default and
                  breach of this Agreement by AWA (an "AWA Event of Default"):

                  12.2.1   The failure of AWA to make any payment required to be
                           made to CAI by AWA hereunder, as and when due, and
                           such failure continues for [*]

                  12.2.2   The failure of AWA to observe or perform any of the
                           covenants, conditions or provisions of this Agreement
                           to be observed or performed by AWA, and such failure
                           shall continue for [*]

                  12.2.3   (i) the cessation of AWA's business operations as a
                           going concern; (ii) the making of AWA of any general
                           assignment, or general arrangement for the benefit of
                           creditors; (iii) the failure of AWA to generally pay
                           AWA's debts as they come due or AWA's written
                           admission of its inability to pay its debts as they
                           come due; (iv) the filing by or against AWA of a
                           petition to have AWA adjudged bankrupt or a petition
                           for reorganization or arrangement under any law
                           relating to bankruptcy (unless, in the case of
                           petition filed against AWA, the same is dismissed,
                           stayed or vacated within 60 days); (v) an
                           adjudication of AWA's insolvency; (vi) appointment of
                           a trustee or receiver to take possession of
                           substantially all of AWA's assets which is not
                           dismissed, stayed or vacated within 60 days; or (vii)
                           the attachment, execution or other judicial seizure
                           of all of AWA's assets which is not dismissed, stayed
                           or vacated within 60 days.

                  12.2.4   Upon the occurrence and continuance of an AWA Event
                           of Default, CAI may: (a) by written notice to AWA
                           (an "AWA Default Notice") terminate this Agreement
                           effective as of the date set forth in the AWA
                           Default Notice which [*]After receipt of an AWA
                           Default Notice, AWA shall continue to perform its
                           obligations under this Agreement until the
                           termination date set forth in the AWA Default
                           Notice. No remedy or election by CAI hereunder
                           shall be deemed

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                                       25
<Page>

                           exclusive, but shall, wherever possible, be
                           cumulative with all other rights and remedies at law
                           or in equity.

         12.3     LIMITATION ON DAMAGES. In no event shall either party be
                  liable to the other party for consequential, special or
                  speculative damages, except to the extent recoverable in an
                  indemnity claim pursuant to Section 9.

13.      RECORDS AND REPORTS.

         13.1     RETENTION OF RECORDS. CAI shall keep accurate and complete
                  books and records of all Flight Services and Other Services
                  performed under this Agreement as well as any additional
                  records that the parties agree may be required in accordance
                  with AWA's procedures and the Regulations. CAI shall retain
                  such records in accordance with applicable law, AWA's
                  procedures and the Regulations.

         13.2     PROVISION OF FINANCIAL RECORDS. Upon AWA's request, and until
                  such time as AWA advises CAI that such reports are no
                  longer necessary, CAI shall furnish to AWA, [*] following
                  the close of the first three fiscal quarters of CAI,
                  unaudited financial statements including CAI's current
                  corporate balance sheets and profit and loss statements,
                  and [*]after the close of its fiscal year, CAI shall
                  furnish AWA with audited financial statements of CAI (or
                  its parent company) including, either separately or on a
                  consolidated basis, the balance sheet and profit and loss
                  statements of that party. The appropriate reports filed on
                  Form 10-Q and 10-K shall be satisfactory to fulfill such
                  obligation.

         13.3     PROVISION OF ADDITIONAL RECORDS. CAI shall promptly furnish
                  AWA with a copy of every report that it prepares and is
                  required to submit to the DOT, FAA, National Transportation
                  Safety Board ("NTSB") or any other governmental agency,
                  relating to any accident or incident involving an Aircraft
                  used in performing Flight Services under this Agreement, when
                  such accident or incident is claimed to have resulted in the
                  death of or substantial injury to any person or the loss of,
                  damage to, or destruction of any property.

         13.4     ADDITIONAL REPORTS. CAI shall promptly notify AWA in writing
                  of (i) any change in or relinquishment of control of CAI, (ii)
                  any agreement contemplating such a change or relinquishment
                  with a copy of such agreement, if in writing, to AWA, or (iii)
                  any change or contemplated change in the Chief Executive
                  Officer position of CAI.

14.      MISCELLANEOUS PROVISIONS.

         14.1     NOTICES. All notices, consents, approvals or other instruments
                  required or permitted to be given by either party pursuant to
                  this Agreement shall be in writing and given by (i) hand
                  delivery, (ii) facsimile, (iii) express overnight delivery
                  service or (iv) certified or registered mail, return receipt
                  requested. Notices shall be provided to the parties and
                  addresses (or facsimile numbers, as applicable) specified
                  below and shall be effective upon receipt, except if

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                                       26
<Page>

                  delivered by facsimile outside of business hours in which case
                  they shall be effective on the next succeeding business day:

                  If to AWA:                America West Airlines, Inc.
                                            4000 E. Sky Harbor Blvd.
                                            Phoenix, Arizona 85034
                                            Attn:  Vice President and General
                                                   Counsel
                                            Telephone:        (602) 693-5805
                                            Facsimile:        (602) 693-5932

                  If to CAI:                Chautauqua Airlines, Inc.
                                            2500 S. High School Drive
                                            Indianapolis, Indiana   46241
                                            Attn:  President
                                            Telephone:        (317) 484-6047
                                            Facsimile:        (317) 484-4547\

                  with a copy to:           Wexford Capital LLC
                                            Wexford Plaza
                                            411 West Putnam Avenue
                                            Greenwich, Connecticut  06830
                                            Attn:  General Counsel
                                            Telephone:        (203) 861-7012
                                            Facsimile:        (203) 862-7312

         14.2     WAIVER AND AMENDMENT. No provisions of this Agreement shall be
                  deemed waived or amended except by a written instrument
                  unambiguously setting forth the matter waived or amended and
                  signed by the party against which enforcement of such waiver
                  or amendment is sought. Waiver of any matter shall not be
                  deemed a waiver of the same or any other matter on any future
                  occasion.

         14.3     CAPTIONS. Captions are used throughout this Agreement for
                  convenience of reference only and shall not be considered in
                  any manner in the construction or interpretation hereof.

         14.4     ATTORNEYS' FEES. In the event of any judicial or other
                  adversarial proceeding between the parties concerning this
                  Agreement, the prevailing party shall be entitled to recover
                  its attorneys' fees and other costs in addition to any other
                  relief to which it may be entitled.

         14.5     ENTIRE AGREEMENT. This Agreement constitutes the entire
                  agreement between the parties with respect to the subject
                  matter hereof, and there are no other representations,
                  warranties or agreements, written or oral, between AWA and CAI
                  with respect to the subject matter of this Agreement.

                                       27
<Page>

         14.6     CHOICE OF LAW. This Agreement shall be governed by and
                  construed in accordance with the laws of the State of Arizona.

         14.7     SEVERABILITY. If this Agreement, any one or more of the
                  provisions of this Agreement, or the applicability of this
                  Agreement or any one or more of the provisions of this
                  Agreement to a specific situation, shall be held invalid,
                  illegal or unenforceable or in violation of any contract or
                  agreement to which CAI or AWA are a party, then AWA and CAI
                  shall in good faith amend and modify this Agreement,
                  consistent with the intent of CAI and AWA, as evidenced by
                  this Agreement, to the minimum extent necessary to make it or
                  its application valid, legal and enforceable and in accordance
                  with the applicable agreement or contract, and the validity or
                  enforceability of all other provisions of this Agreement and
                  all other applications of any such provision shall not be
                  affected thereby.

         14.8     COUNTERPARTS. This Agreement may be executed in one or more
                  counterparts, each of which shall be deemed an original.

         14.9     BINDING EFFECT. This Agreement shall be binding upon and inure
                  to the benefit of AWA and CAI and their respective successors
                  and permitted assigns.

         14.10    NO ASSIGNMENT. The rights, obligations and duties of AWA and
                  CAI under this Agreement may not be assigned or delegated,
                  except as may otherwise be mutually agreed by AWA and CAI, in
                  their sole and absolute discretion.

                                          AWA:

                                          America West Airlines, Inc.,
                                          a Delaware corporation

                                          By: /s/ William A. Franke
                                             -----------------------------------
                                          Name: William A. Franke
                                               ---------------------------------
                                          Title: Chairman and CEO
                                                --------------------------------

                                          CAI:

                                          Chautauqua Airlines, Inc.,
                                          a New York corporation

                                          By: /s/ Bryan Bedford
                                             -----------------------------------
                                          Name: Bryan Bedford
                                               ---------------------------------
                                          Title: President
                                                --------------------------------

                                       28
<Page>

                                    EXHIBITS

<Page>

                                   EXHIBIT A

[CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURUSANT TO A REQUEST FOR CONFIDENTIAL TREATEMENT]

<Page>

                                    EXHIBIT B

[CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURUSANT TO A REQUEST FOR CONFIDENTIAL TREATEMENT]

<Page>

EXHIBIT C

[CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURUSANT TO A REQUEST FOR CONFIDENTIAL TREATEMENT]<Page>

                                                                   EXHIBIT 10.2A

                          FIRST AMENDMENT TO CODE SHARE
                          AND REVENUE SHARING AGREEMENT

      THIS FIRST AMENDMENT TO CODE SHARE AND REVENUE SHARING AGREEMENT
("Amendment") is made to be effective as of December 24, 2001 (the "Effective
Date"), by and between AMERICA WEST AIRLINES, INC., a Delaware corporation
("AWA"), and CHAUTAUQUA AIRLINES, INC., a New York corporation ("CAI").

      RECITALS:

            A. AWA and CAI entered into that certain Code Share and Revenue
Sharing Agreement, dated to be effective March 20, 2001 (the "Code Share
Agreement"). All capitalized terms used herein, but not defined herein, have the
meanings given to such terms in the Code Share Agreement.

            B. CAI and AWA desire to amend the Code Share Agreement to [*] to
provide CAI with the opportunity to and to alter [*] in each case as provided
herein, and to temporarily amend the expense reimbursement model.

      NOW, THEREFORE, in consideration of the promises, covenants,
representations and warranties hereinafter set forth, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound, AWA and CAI agree as set forth
below.

      AGREEMENTS:

1.          AMENDMENTS. The Code Share Agreement is amended as follows:

      1.1 Section 1.2.1 of the Code Share Agreement is deleted in its entirety
and replaced with the following:

            1.2.1 INITIAL ERJ FLEET. CAI shall provide the Flight Services using
      [*] (collectively, the "Fleet" and individually, each an "Aircraft").
      [*] Aircraft shall be placed into Flight Services by CAI during each of
      the following calendar months: [*] for a total of [*] Aircraft
      (collectively, the "Firm Aircraft"). In consideration for CAI altering
      the delivery schedule as originally set forth in this Agreement, [*]
      shall pay to [*] the sum of [*] on or before each of the following
      dates: [*] by wire transfer pursuant to wiring instructions provided to
      AWA by CAI. CAI shall provide AWA with at least 90 days' prior written
      notice of the calendar week in which each of the Firm Aircraft will be
      placed into Flight Services under this Agreement (each a "Scheduled
      Delivery Week"). If an Aircraft is not a

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      "new" Aircraft from the manufacturer, then the Aircraft shall not be older
      than [*] months from the new manufacturer delivery and the interior and
      exterior shall be decorated, painted and reconfigured to AWA
      specifications at [*] prior to the delivery date.

            CAI, by providing AWA with at least [*] (the "Diversion Notice"),
      shall have the right, in CAI's sole discretion, to cause all, but not
      less than all, of the Aircraft to be diverted to other non-AWA uses. If
      CAI issues a Diversion Notice to divert the Aircraft to other non-AWA
      uses, then: (i) from and after the date of the Diversion Notice, the
      Aircraft not yet placed into Flight Service pursuant to SECTION 1.2.1
      shall not be put into Flight Services for AWA, shall not be considered
      part of the Fleet, shall not be considered an Aircraft under this
      Agreement and neither CAI nor AWA shall have any further right,
      liability, obligation or duty under this Agreement in regard to such
      diverted Aircraft; and (ii) any Aircraft in the Fleet as of the date of
      the Diversion Notice shall be removed from Flight Services over up to
      [*] commencing no earlier than the [*] after the date of the Diversion
      Notice. Upon the removal of the last Aircraft from Flight Services this
      Agreement shall automatically terminate and neither AWA nor CAI shall
      have any further right, liability or obligation under this Agreement,
      except for the payment of any sums accrued under this Agreement to the
      date of such termination, the indemnity obligations set forth in 9 and
      any other obligations that expressly survive the termination of this
      Agreement. If CAI does not divert the Aircraft as provided herein, then
      the Aircraft shall be subject to the terms and conditions of this
      Agreement on the applicable in service date.

            In the event that CAI obtains short-term lease expense relief on
      behalf of AWA for the Fleet, it being understood and agreed that [*],
      then [*] attached hereto, shall be [*].

      1.2 Section 1.2.3 of the Code Share Agreement is revised by adding the
following new paragraph to the end of the Section:

            Notwithstanding anything in this Section 1.2.3 to the contrary, [*]
      (the [*]): (i) AWA shall provide CAI with written notice of its election
      to exercise the [*] on or before 5:00 p.m., Phoenix, Arizona time, on
      May 15, 2002 designating which of such Aircraft AWA [*] and (ii) [*] on
      or before 5:00 p.m., Phoenix, Arizona time, on July 31, 2002, by wire
      transfer pursuant to wiring instructions provided by CAI to AWA. [*] to
      be delivered in October 2002 and November 2002, then

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* Confidential

                                       2
<Page>

      AWA shall have [*]

      1.3 A new section 14.11 of the Code Share Agreement shall be added as
follows:

            14.11 [*] then the Warrant Issuance Agreement, dated March 20,
      2001, between CAI and AWA, as of the date of any notice exercising any
      such rights, [*]

      1.4 Exhibit A to the Code Share Agreement is amended to provide that
for the period commencing on [*] Upon the expiration of the Reduction Period,
Exhibit A shall be reinstated in its entirety as originally attached to the
Code Share Agreement. In the event that the Code Share Agreement is
terminated prior to the Expiration Date other than as a result of a breach of
the Code Share Agreement by CAI, [*] shall pay to [*]on the effective date of
such termination the difference between (a) [*] and (b) [*]

2.          COUNTERPARTS. This Amendment may be executed in counterparts, all of
which shall be deemed to be one and the same document. This Amendment may be
executed by facsimile copies.

3.          EFFECT. Except as set forth in this Amendment, the Code Share
Agreement remains in full force and effect as originally executed.

      AWA:                                AMERICA WEST AIRLINES, INC.

                                          By: /s/ Andrew Nocella
                                             ---------------------------------
                                                Its: Vice President, Planning
                                                    --------------------------

      CAI:                                CHAUTAUQUA AIRLINES, INC.

                                          By: /s/ Bryan Bedford
                                             ---------------------------------
                                                Its: President
                                                    --------------------------

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* Confidential
                                       3

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