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Hawk Investment Conference

Hawk Investment Conference. PowerPoint Services 400 Park Place, 5F Fort Lee, NJ (917) 856-0582. Jordan Yaruss. October 3, 2007. PowerPoint Services. Sample Presentation. Eagle Airways (EAGL). It’s not an airline. Eagle valuation. PowerPoint Services. Sample Presentation. Plane type.

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Hawk Investment Conference

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  1. HawkInvestmentConference PowerPointServices 400 Park Place, 5F Fort Lee, NJ (917) 856-0582 Jordan Yaruss October 3, 2007

  2. PowerPoint Services Sample Presentation Eagle Airways (EAGL) It’s not an airline Eagle valuation PowerPoint Services Sample Presentation

  3. Plane type Seatcapacity 68 68 58 ERJ 145 50 ERJ 170 70 ERJ 175 85 36 36 36 26 21 10 1999 2000 2001 2002 2003 2004 2005 2006 2007 Customers as platforms AmericaJet planes

  4. Long-term nature of contracts • Initial contract is typically 10—12 years in duration • Contracts typically get expanded and extended over their life Profit visibility 70% Customers under contract of current pre-taxprofit contracted to 2016

  5. Growth through industry turmoil Airline bankruptcies EBITDA/ROE/planes under contract • American • Financial distress 2001 • Delta • Chapter 11, September 2005 • TWA • Sold to AMR, April 2001 • United • Chapter 11, December 2002 • US Airways • Chapter 11, August 2002 • Chapter 11, September 2004 • Merger with America West, May 2005 $ millions 2002 2003 2004 2005 2006 2007E 2008E ROE: 11.7% 12.0% 13.0% 14.0% 15.0% 16.0% 17.0% Planes: 60 70 80 90 100 200 300

  6. Case study: Delta Airlines Bankruptcy$xx.xm Warrants$xx.xm 55 planes Eliminates 15 Impact on EAGL:$Xm pre-tax/year EAGL $xxm

  7. Jordan Yaruss PowerPoint Services Phone: (917) 856-0582 Fax: (201) 944-9499 www.powerpointservices.com jordan@powerpointservices.com

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