BEFORE THE DEPARTMENT OF TRANSPORTATION
Transcription
BEFORE THE DEPARTMENT OF TRANSPORTATION
BEFORE THE DEPARTMENTOF TRANSPORTATION WASHINGTON, D. C. Application 95 ~~~~26 p/j 2: 52 of DHL Aero Expreso, - S.A. for a foreign air carrier permit, pursuant to 19 U.S.C. 541302 (All-Cargo, Panama-Miami, Florida) j ) ) ) DOCKET OST-96-/DSlj APPLICATION OF DHL AERO EXPRESO, S.A. FOR A FOREIGN AIR CARRIER PERMIT APPLICANT REQUESTS THAT THIS APPLICATION BE PROCESSED BY NON-HEARING PROCEDURESUNDER SUBPART Q OF THE DEPARTMENT'S PROCEDURALREGULATIONS (14 CFR 161701-1790) Communications with respect to this document should be sent to: R. Tenney Johnson, Esq. 2300 N Street, N. W., Suite 600 D. C. 20037 Washington, (202) 663-9030 Fax: (202) 663-9040' Counsel for DHL AERO EXPRESO, S.A. January 26, 1996 NOTICE: Any person wishing to support or oppose this application Division, must file an Answer with the Documentary Services Department of Transportation on or before February 23, 1996. A copy of the Answer must be served upon counsel for DHL Aero Expreso, S.A., and all persons named on the attached Service List. BEFORE THE DEPARTMENTOF TRANSPORTATION WASHINGTON, D. C. Application of DHL Aero Expreso, S.A. ; for a foreign air carrier permit, pursuant to 19 U.S.C. 541302 (All-Cargo, Panama-Miami, Florida) DOCKET OST-95- ; 1 ) APPLICATION OF DHL AERO EXPRESO, S.A. FOR A FOREIGN AIR CARRIER PERMIT DHL Aero Expreso, carrier, to hereby 49 U.S.C. tation of Miami, applies 541302, property Florida, under charter carry both S. A. ("DHL Aero Expreso"), for to a foreign provide between and to provide all-cargo subject packages) cargoes Worldwide Express" to air tendered as part between its application Subpart Q of the Department's In states for support the of following: its be Republic of Panama to air this the (documents service processed request, would and small known as "DHL DHL Aero in acordance Expreso with 14 CFR regulations, application exemption transportation DHL Aero Expreso procedural with corresponding transpor- Panama and Miami. that Concurrently of pursuant air foreign 211. permit, air foreign and express requests is applying the 14 CFR Part freight carrier scheduled and mail general §§1701-1790. air a Panamanian DHL Aero Expreso authority. DHL Aero Expreso reSpeCtfUlly 2 1. Anplicant. 3947, El DHL Aero Expreso, Dorado, organized Panama, Republic and incorporated the Republic the United under of Panama for transportation between De Aeronautica the purpose Civil, Services. authority (requested herein) transportation plans flights utilizing Boeing in all-cargo points, air including or sought is Operations to of exemption and permit foreign Panama and the United under 1, the authority performing 1996, Panama and Miami, Its operate air Florida, proposed Included charter five and schedule within flights the subject 212. and Officers Bruce Walker. General between DAE PR-1. authority both scheduled aircraft. Exhibit of DHL Aero Expreso DHL Aero Expreso seeks application) March freighter Direction Panama 5, Republic operations about 727-200 Authority. Expreso operate and mail commence attached 4. Directors Flight on to every week between to 14 CFR Part Getzler, to herein roundtrip Robert 26, 1927 of DHL Aero Expreso. a corresponding of property It over DHL Aero in directors foreign 6- a corporation of operating 7501 y 7615, jurisdiction (requested authority is February Air Transport Apartado authority shown Law 32 dated Home Countrv 3. Proposed is Panama, Panama and various Panama, has regulatory requested of is Apartado States. 2. Annlicant's States. whose address and Key Manaaement are Felix The officers are Felix Manager Manager Picardi, Picardi, Jorge and key management President and Treasurer; and Chief Personnel. Pilot: Naranjo, and personnel of and Secretary; Captain Miguel The August0 Steven Villalaz, Coba Villareal, 3 Maintenance Arosemena, Manager; Chief Mr. Walker, citizen this who is a U.S. application 5. Ownership. B.V., 51% of the a corporation Interests. management personnel, direct air or indirect carrier, persons of and Panama, and Mr. Getzler, Fabio except who is a U.S. of Panama. The business individuals capital stock Picardi, and are attached to of DHL Aero Expreso, an individual 49%, 245 shares, is held and citizen of the None of directors, the or share holders interest Manager; DAE PR-2. owned by Felix 6. Related citizens are of each of these of Panama. The remaining Express All resident as Exhibit is Finance citizen, a permanent addresses 255 shares, Naranjo, Inspector. and also residential Jorge in any U.S. and citizen by DHL Worldwide Netherlands.' officers, of DHL Aero Expreso air engaged in the business carrier, other of aeronautics, key have any foreign common 'DHL Worldwide Express B.V. is wholly owned, through DHL Holdings N.V., by DHL International Limited, a corporation and citizen of Bermuda. DHL International Limited is a holding company which has delegated to DHL Worldwide Express B.V. responsibility for management of the operations of the international air express service known as "DHL Worldwide Express" other than shipments within or originating within the United States, which are the Inc., U.S. and DHL Airways, responsibility of DHL Corporation companies that are independent of DHL International Limited and its subsidiary companies. Companies and persons holding 5% or more of the capital stock of DHL International limited are Japan Airlines Company, Inc. Deutsche Lufthansa Aktiengesellschaft (25.001%), (25.001%), Nissho Iwai Corporation (7.5), Greenpark Investments Ltd. (9.294%), and Larry L. Hillblom, deceased (23.576%). (In addition, two individuals hold less than 5% each.) 4 carriers, stock or persons in, or control of, 7. Applicant's Aero Expreso is Panama. a private of the that its Homeland Expreso exceeds the subject is Expreso and passenger amount required application DAE PR-3 and the the Office of Aviation 9. Annlicant's received authority 1995, operating Civil on September this together application with the is regulatory combined liability public insurance by 14 CFR Part OST 6411, Homeland Ooeratina and a certificate stock is attached original in 205. A to this has been filed Analysis. permanent Aeronautica its DHL of the Republic to carries of insurance, as Exhibit of Government. DHL Aero damage, holding Government. and none of copy of the certificate with the carrier.2 to Panamanian property an amount is by any agency of the Government Insurance. liability, business corporation, DHL Aero jurisdiction a. any air Relationshin owned or controlled of whose principal Authoritv. from authority 17, 1995. of good English translations as Exhibit DAE PR-4. DHL Aero Expreso the Direction A certified standing copy of that dated of both, de December are attached 4, to shareholder, has an interest 2DHL Worldwide B.V., the minority an air carrier that does not engage in in European Air Transport, transportation to or from the United States. Lufthansa and Japan Airlines each hold 1.02%, Nissho Iwai holds 0.51%, and Larry L. stock of DHL Hillblom, deceased, holds over 60%, of the voting Corporation, which in turns wholly owns DHL Airways, Inc., a U.S. air carrier. During the initial administration of Mr. Hillblom's estate, by direction of the probate court the voting power over his shares is exercised by the Bank of Saipan, a corporate citizen of the United States (specifically by Joseph Waechter, Vice President of the Bank of Saipan and a citizen of the United States). TO date there has not been any requirement for exercise of this power. 5 IO. Ooeratino has not yet and air History. conducted transport management attached experience to this is of the on or about March 1, 1996, agreement with would pursuant maintained at Expreso as Exhibit DAE PR-6. performed by is currently the provisions 1) and 7. This consideration Specification the will enter carrier air to issued into under perform under an a wet- which the that flights 14 CFR Part 207. to ICAO Standards. All by the Federal Aviation stations that of the attached all to this maintenance qualified by a maintenance FAA under the program and Airmen be reviewed of DHL Aero Expreso's from timely certified found will complete will of ICAO Pilots program to be Expreso to use is developing will DHL Aero Accordingly, technicians 727- by A listing intends unable FAA has not and Adherence stations a Boeing to commence operations and crew wet-leased (FAA). currently the material information is in time of Authorization or repair Administration it U.S. aircraft Maintenance utilized Expreso a qualified to a Statement aircraft to operate DHL Aero Expreso provide 12. Aircraft biographical Further If or if and key DAE PR-5. lease. aircraft Specification, carrier with leased and business officers, the plans as possible. acquisition lease in as Exhibit under The relevant directors, DHL Aero Expreso as promptly Operations its summarized aircraft is a new airline operations. of application 11. Aircraft. provided any flight personnel 200 freighter DHL Aero Expreso by the 14 DHL Aero application work FAA. will complies 1, 6 (Part FAA as part CFR Part for be DHL Aero that Annexes application be of its an Operations 129. DHL Aero 6 Expreso's home country, Convention Panama, on International working with effective the the Federal any aircraft inspection. 14. Written agreements into such appropriate is attached to this its has obtained in Florida from and will for process its a $3 million England carrier as the submit the necessary review of the no oral or Department by Price been organized it assistance and initial line of it enters agreement, be made. sheet as of August for DHL 21, 1995, DAE PR-7. Since DHL Aero and authorized and has and loss received, statements and does not from the Government operations, credit foreign) If lease balance has no profit has not or States. will Waterhouse as Exhibit has (U.S. wet a The current application activation London, such to the recently air Expreso to the United Statements. any financial To finance and and submitted Specification DHL Aero services DHL Aero Expreso to receive, to any other no operations, time. Poultry, with certified has only conducted the currently compliance or otherwise agreed agreements, Financial Aero Expreso, Expreso by lease application 15. full has prepared ("FAA") Aareements. the proposed any its an Operations FAA has Panama is to promptly. Relevant affecting this acquires The documentation for state ICAO Standards. Administration it Aviation. DHL Aero Expreso documentation Aviation a contracting demonstrate to enforce 13. FAA Aonrovals. all Civil FAA to capability is with ECZP ZBX, commencing at expect of Panama. DHL Aero Espreso Midland February Bank PLC, 1, 1996. 7 16. Financial traffic first Forecast. and financial year are DHL Aero Expreso's results attached of its to this are based on volumes Miami being part currently of the Worldwide experienced international Express." assures levels. The following Yearly Capacity utilization chart Cargo Lifted Estimated First Year Revenues Estimated First Year Costs Estimated First Year Operating herein Transport Agreement of Republic (Diplomatic is 1949, United States la. No. DT/416, (USD) $5,971,083 $5,686,746 Profit (USD) $ Desisnation. governed by The the November trans- The Government between 24, air U.S.-Panama DHL Aero Expreso herein 284,337 of to operate Panama 1995, Air and the the Miami. to Embassy of the in Panama.) Homeland Carriers. To the Government of the Country's best of Republic the U.S. -Panama Air Transport which designated U.S. and outbound 9,916,360 as amended. proposed note "DHL at profitable (Kgs) and of Panama has designated transportation as as estimate: (USD) Aureement proposed Panama and known inbound the DAE PR-8. 14,117,647 Total Governina service of the to be tendered (Kgs) portation air summarizes during between and load factors Estimated 17. cargo volume of total as Exhibit of traffic express capacity services and expected The current traffic proposed application These forecasts forecasts carriers Treatment DHL Aero of of Application Agreement to operate U.S. knowledge, the full compliance with of 1949, as amended, under Expreso's Panama is bv in to Panama may do so and a may also traffic operate rights ment of the particular five waiver permitted with local by the govern- DHL Aero Expreso, carrier, violations of the being has not been involved or any fatal by application submitted 21. the its as Exhibit accidents 22. Annual Fuel the services for in the past 1,998,100 this have been herein annual is as follows: Gallons will have no difficulty in fuel. The facts by Felix to The projected Gallons as Attorney-in-Fact air proposed it Form OST 4523 17325. Consumntion. that of copies 999,050 anticipates of completed Southbound: Route: required attached Gallons Verification. 23. Onenina in Docket to is 999,050 necessary to this and a copy Three has agreed limits Northbound: Expreso been verified attached DAE PR-9. Proiected for liability attorney-in-fact Department the DHL Aero Expreso States, to the Total obtaining United authorized consumption DHL Aero Waiver. Warsaw Convention serving signed cargo i.e., years. carriers fuel extent Violations. and authorized or tariff Panama, point. or Tariff 20. Warsaw Convention the "beyond" beyond Safety organized any safety points from Panama to the 19. Prior a newly to Picardi, for stated in this Director DHL Aero application and Majority Expreso. have Stockholder The verification is application. Arsument. transportation DHL Aero Expreso services that it submits proposes that herein the all- are fully 9 governed and authorized of as amended, 1949, The appropriate DHL Aero these perform them. 24. small to be qualified international and air These services, will general express service currently with other being air provided express and other Central American consignees depend goods countries. the benefits in Panama, the on air express across the international has earned a solid delivery to points all United States, and competitive these shippers as well States and Panama and, countries. public For these interest. of the and between for SerViCeS countries other these who the Central services of Express overnight Panama, commerce between Panama, as well, in and movement America. is in Panama shippers including service the services dependable world, and compete The DHL Worldwide for to Express." and economical as international reasons to carriers, and other in Central this through (documents freight States reputation countries expansion Expreso tendered on other states, rapid around and other Panama to DHL Aero Expreso's boundaries. network of express of competition United for laws DHL Aero and general Panama and the United provide interest. known as "DHLWorldwide between therefore public cargoes operation will the both freight Agreement of Panama have found designated carry Transport in the under and have Expreso packages) are of the Government services DHL Aero directly and accordingly authorities Expreso PerfOnII by the U.S. -Panama Air the Maintenance interest of the United American are in the 10 25. DHL Aero Worldwide purpose Express of to its financial 26. to DHL Worldwide the the DHL Aero effective control since President "DHL Worldwide financial of the board citizen of the will of DHL specific for a hub or shipments be tendered network DHL Aero company, will assure and all Exhibit has designated route to the United there can be no doubt the "substantial States that ownership are is the of the in majority are control owner DHL Aero Espreso of and in the majority decisions by In addition, other and citizens to be in full DHL Aero Espreso and effective in the This mode of control majority and several and while stake fundamental authorities are ownership vested citizens DAE PR-4. Expreso, ownership by Panamanians. Law requiring shipments substantial Expreso citizen Panamanian or citizens. that Panamanian of directors, by the network of DHL Aero affirms a Panamanian Panamanian Government Express" B.V. has a substantial the company are controlled with for Express" that Express" health Espreso of the been found help carrier The cargoes "DHL Worldwide Express company, Panama, air MDHLWorldwide region. the success. While important with company, principal in Panama for of the formed a non-Panamanian American as part has been as the center Central it B.V., operating distribution in the Expreso of has compliance a Panamaian the Panamaian to operate an all-cargo countries. Accordingly fully control" qualifies doctrine under embodied 11 in Article 6 of the U.S.-Panama Air Transport Agreement of 1949, as amended.3 27. DHL Aero Espresa services described provisions of Title and requirements all in terms, attaches is fit, this issued limitations, thereunder. air carrier Department, pursuant air carrier permit of property charter to 49 U.S.C. and mail DHL Aero foreign air that conform to the regulations, Espreso will the Department respectfully S 41302, scheduled between to the accept normally permits. Expreso to provide and to perform Code and the rules, and conditions to foreign and able application 49 of the U.S. WHEREFORE, DHL Aero cargo willing, requests issue foreign air Panama and Miami, transportation to subject that it the a foreign transportation Florida to and all14 CFR Part 211. Respectfully submitted, D. C. 20037 Washington, (202) 663-9030 Counsel for DHL AERO EXPRESO, S.A.. January 26, 1996 31t should be noted that this doctrine is a rule of policy not a statutory command - and has often been waived in the public interest. See, e.g., Order 87-4-7, Page 6; Order 85-6-87, Page 5, and cases cited therein. VERIFICATION I, the am Felix undersigned, Picardi, Attorney-in-Fact proceeding, of the _ ‘I Majority duly sworn, Stockholder, of DHL Aero Espreso, that I am duly application and that the Exhibits attached authorized facts stated thereto, depose Director, S.A., the to execute of DHL Aero Espreso, " knowledge being and say that President, applicant this and in this Verification s. A. in this in this/application, c are true and complete I proceeding, together with to the best the of my and ability. 6Felix/ Subscribed and sworn before me this 272% in Panama City, Republic of Panama. .d2sze Picardi day of November, 1995 9. &ll~, 622 ~“..~...........__,,.., / “.. . . . . . . . . . . & / -4 .,,.__ . . . . __...... ,*. . Exhibit DAE PR-1 Page 1 of 1 January 26, 1996 DHL AERO ESPRESO, S.A. ILLUSTRATIVE SCHEDULE (Local PANAMA CITY-MIAMI-PANAMA TBD 727-200 2-5 Times) CITY Flight Number Equipment Freouencv TBD 727-200 2-5 0230 LV Panama City AR 2315 0515 AR Miami LV 2030 6 Note : Schedule 7 0230 LV Panama City AR 1745 0515 AR Miami LV 1500 may be adjusted during Daylight Savings Operating Statistics - Year 1 Panama City-Miami-Panama Citv Available Revenue Round-Trip Available Total Payload Flights Capacity Block Hours Fuel Kilograms 260 (Annual) 14,117,647 Kilograms (Annual) Panama City - Miami Miami - Panama City Annual 54,299 Consumption 715 715 1,998,100 Gallons Time. Exhibit DAE PR-2 Page 1 of 1 January 26, 1996 DHL AERO EXPRESO, S.A. DIRECTORS AND KEY PERSONNEL RESIDENCE Felix Picardi BUSINESS - Director, President and Secretary Panamanian Calle 6a y 7a #95A, La Alameda Panama, Republic of Panama Jorge Naranjo - Director, Bruce Walker Centro Comercial La Colmena Entre Calle 50 y Via Israel Despacho #9 Panama, Republic of Panama Finance Calle Cadiz, #672 Altos Del Romeral Panama, Republic of Panama Robert Manager Apartado Panama Getzler August0 Coba Villareal Arosemena ResidentUoSfDPanama) Aeropuerto International Tocumen Viejo Area de Carga, Terminal Panama, Republic of Panama Manager Panamanian 751 N.W. 126 Court Miami, FL 33182-2090 - Maintenance Calle la. #107 Monteria, Pedregal Panama, Republic of Panama Fabio (Permanent - Flight Operations & Chief Pilot 751 N.W. 126 Court Miami, FL 33182-2090 Miguel of Panama U.S. - General Manager &'I Treasurer Villalaz S-400 Republic 6360 NW 5th Way, Suite 103 Ft Lauderdale, FL 33309 Calle M.J. Hurtado #25 La Cresta Panama, Republic of Panama Capt. a, Panamanian - Director 471 NW 113 Ave Coral Springs, FL 33071 Steven CITIZENSHIP C. - Chief Calle R. Duplex #4 Urbanization Chanis Panama, Republic of Panama Manager Apartado Panama a, S-400 Republic Inspector Apartado Panama Panamanian of Panama Panamanian a, B-400 Republic of Panama Exhibit DAE PR-3 Page 1 of 2 January 26, 1996 Pc/ AGENCY DISPLAY OF ESTIMATED BURDEN The public mportlng burden for this collection of information Is estimated to average 30 minutes per response. If you wish to comment on the accuracy of the estimate or make suggestions for redudng this burden, please direct your comments to DOTand OMB et the followingaddresses: U.S. Department of Transportation U.S. Departmentof Transportation Officeof AviationAnalysts.P-57 Offlce of the Secretary of Transportation OffIceof Managementand Budget Officeof Informationand RegulatoryAffairs 4007thsh9et,sw Washington, DC 20590 and PapeNvork Reduction Product 2105-0030 Weshlngton, DC 20503 OMB No. 2106-0030 Expires 12-31-94 FOREIGN AIR CARRIERS CERTIFICATE OF INSURANCE POLICIES OF INSURANCE FOR AIRCRAFT ACCIDENT BODILY INJURY AND PROPERTY DAMAGE LIABILITY FILING INSTRUCTIONS: File an original of this form with the Regulatory Analysis Division, P-57, office of Aviation Analysis, Department of Transportation, 400 7th Street. S.W.. Washington, D.C. 20590 (Please type information, except signatures.) THIS CERTIFIES THAT: CERTAIN LLOYDS UNDERWRITERS AND VARIOUS INSURANCE COMPANIES (Name of lnsurwj has issueda policy or policies of Aircraft Liability DHL CORPORATION &/OR DHL INTERNATIONAL &/OR ASSOCIATED &/OR SUBSIDIARY &/OR AFFILIATED COMPANIES insurance to (Name and address of Insured Fotefgn Air Canfeo effective from 18TH MARCH 1995 until ten (10) days after written notice from the insurer or carrier of the intent to terminate coverage is received by the Department of Transportation. NOTE:Part 205 of the Department’sRegulaticnsdoes not allowfor a predeterminedterminationdate, and a certHicateshowingsuch a date IS unacceptable 1. The Insurer (Check One): 0 is licensed to issue aircraft insurance policies in the United States 0 is licensed or approved by the government of II is THE UNITED KINGDOM to Issue aircraft insurance policies; or an approved surplus line insurer in the State(s) of 2. The ins&er assumes, under the policy or policies listed below, aircrafl accident liability insured to minimums at least equal to the following during operation, maintenance, or use of aircraft in “foreign air transportation” as that term Is defined In the Federal Aviation Act (Complete applicable section(s) below): A. CANADIAN CHARTER AIR TAXI OPERATORS WITH PART 294 AUTHORITY ONLY The aircraft covered by this policy have: (1) 30 or fewer passenger seats and a maximum payload capacity of 7,500 pounds or less: and/or (2) a maximum authorized takeoff weight on wheels of no more than 35,000 pounds. (Check separate or combined coverage as WPmPriateJ: Separate Coverages: 0 Minimum Limit Policy No. 0 l Each Occurfence Combined Bodily Injury (Excluding Passengers other than cargo attendants) and Property Damage Liability $75,000 $2,000,000 *(See Note) Passenger Bodily Injury Liability s 75,000 $75.000 x 75% of total number of passengerseatsInstalledin lhe aircraft. Combined Coverage: This combined coverage is a single limit of liability for each occurrence at least equal to the required minimums stated above for bodily Injury (excluding passengers), property damage, and passenger bodily Injury. Policy No. 0 Each Person Type of Liability Amount of Coverage This policy covers CARGO operations only and excludes passenger liability insurance. NOTE: If the aircraft covered by this policy have more than 30 passenger seats or more than a maximum payload capacity of 7,500 pounds, the minimum limit per occurrence shall be $20,000,000. OS1 Form 641I B. FOREIGN AIR CARRIERS OPERATING SMALL AIRCRAFT The aircraft covered by this policy are SMALL AIRCRAFT (i.e. with 60 or fewer passenger seats or with a maximum payload capacity of 16,000 pounds or less). (Check separate or combined coverage as appfopdafe): 0 Separate Coverages: Minimum Limit‘ Policy No. Each Occurrence Each Person Type of Liability Combined Bodily Injury (Excluding Passengers other than cargo attendants) and Property Damage Liability $300.000 $2,000.000 Passenger Bodily Injury Liability $300,000 $300,000 x 75% of total number of passenger seats installed in the aircraft 0 Combined Coverage: This combined coverage is a single limit of liability for each occurrence at least equal to the required minimums stated above for bodily injury (excluding passengers), property damage, and passenger bodily injury. PO/icy No. Amount of Coverage 0 This policy covers CARGO operations on/y and excludes passenger liability Insurance C. FOREIGN AIR CARRIERS OPERATING LARGE AIRCRAFT The aircraft covered by this policy are LARGE AIRCRAFT (i.e. with more than 60 passenger seats or with a maximum payload capacity of more than 16,000 pounds). (Check separate or combined covemge as appropriate): 0 Separate Coverages: Minimum Limit Each Person Each Occumrnce Combined Bodily Injury (Excluding Passengers other than cargo attendants) and Property Damage Liability $300,000 $20,000,000 Passenger Bodily Injury Liability $300,000 $300,000 x 75% of total number of passenger seats installed in the aircraft Policy No. 0 Combined Coverage: This combined coverage is a single limit of liability for each occurrence at least equal to the required minimums stated above for bodily injury (excluding passengers), property damage, and passenger bodily injury. Policy No. 0 Type of Liability Amount of Covemge AV37&‘0195 AS REQfJlRED BY PART 205 This policy covers CARGO operations on/y and excludes passenger liability insurance. Operations conducted with all aircraft operated by the insured Operations conducted with the following types of aircraft Operations with the following aircraft: 4. (Use additional page if necessary) Each policy listed in this certificate meets or exceeds the requirements in 14 CFR Part 205. and is l NICHOLSON LESLIE AVIATION LIMITED (Name of Broker, If applicable) (Nameof Insurer) P.O. BOX 615, BEAUFORT HOUSE, 15, ST. BOTOLPH ST. (Address) (Address) (City,State,Zip Code) LONDON, EC3A 7QQ (City, State,Z/p Code) Contact (person who can verify the effectiveness of the coverage) I (Area Code, Phone Number) (Area Code, Fax Number) (Signature. if applicable) (Date) * Subject to approved exclusions in accordance with Civil Aeronautics Borrd letter 22nd January 1982 to La Bocuf, Lamb, Leiby and MaeRae. OST Form 641 I Exhibit DAE ~3-4 Paqe 1 of 20 January 26, 1996 CERTIFICATION I, the Felix undersigned, Picardi, Majority Attorney-in-Fact proceeding. Resolution General issued with being sworn, that of Civil Aviation, DHL Aero the English Espreso, translation this and say that S.A., the applicant Exhibit contains the the operating license that Government S.A., of the I President, Director, of DHL Aero Espreso, I certify depose Stockholder, No.l76/DTTA/DAC, to duly 7, and in this full text of the Director Republic on September am 1995, of Panama, together thereof. c&&-2~fl& Felix Subscribed and sworn before me this $Ta in Panama City, Republic of Panama. Picardi day of November, 1995 (ccl! du 5 octobre 1961) 2, .. . . . . . . . . . . . . ‘; . . . . . ./ .. . .. ..._... I.*~Low \\ _ ;uen acih en cs!k!;.i;I de . . ..a..............*.......Y v es evcs:id:: ~1.1 : s I.j .)!‘:,’ .; .; :: ,& mK-. . . . . . . . . . . . . . .. .. . ... . . . . .. . . . . . . . . . . . . . . . . ..~.......“.. __.,. : ‘: ... -nt I 9. SdiO;i.. 6% .*.*................... : / I-i:::]&: .I.....‘........,.. / CzzAP ..~ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reptiblica Direcci6n de Aeronautica de Panam Civil Apartuth: 7501 y 7615 Pulrllllld 5, I’UWWld RESOLUCION No. 176/DTTA/DAC Panamh, 7 septiembre de 1995 EL DIRECTOR GENERAL DE AERONAUTICA en us0 de SIJS facultades CIVIL legates, y CONSIDERANDO: Que, el Decreto Ley 13 del 22 de enero de 1969, cre6 la Direci6n de Aerontiutica Civil coma una Entidad Aut6noma del Estado y le confiri6 panamefia consfit$!a,dbconformidad con la Ley 32 de 26 de febrero de 1927 sd’tke sociedades anbnimas, mediante Escritura Ptiblica de la Notaria Tercera del circuit0 de Paname distinguida con el ntimero 8584 con fecha 9 de junio de 1987. SEGUNDO: DHL AERO EXPRESO, S.A. ha confeccionado un Estudio de Factibilidad de conformidad con 10s requerimientos de la Resoluci6n 191, que contiene la informacik y prueba satisfactoria de que la peticionaria cuenta con la capacidad financiera y tkcnlca para operar y conducir 10s servicios propuestos en condiciones de eficiencia, regularidad y Entre 10s hechos m8s salientes que esttin seguridad. contenidos en el mencionado estudio y que avalan 10s asertos exprrestos cn este punto podemos destacar: PAGINA No.2 RkSOLUClON No.l76/DTTA/DAC 7 DE SEPTIEMBRE -DE 1995 -- 1) DHL AERO EXPRESO, S.A. es una empresa de aviation que se ha establecido para servir PrinCipalmente la ruta PANAMA/MIAMI/PANAMA, que Se constituirti en la avenida principal a traves de la CUal se transportari todo el correo y la carga, no solo la originada en Panama, sino tambien la que se origina en otros paises de Centro y Sur America. 2) Lo antenor significa que PanamB se ha constituido en el CENTRO REGIONAL DE DlSTRlBUCldN DE TRAFICO (HUB) de DHL WORLDWIDE EXPRESS y sus companias afiliadas, lo que trae aparejado que toda la paqueteria y la carga que se origina en toda la region de America Latina se concentraria y fluiria en y a traves de PanamO, para lo cual se requiere de una Linea Aerea que cuente con el equip0 de vuelo para transportar esa carga al Centro de Distribution de Norte America localizado en Miami, para de ahi redistribuirla al resto de la red que DHL WORLDWIDE EXPRESS Irene para cubrir el mundo entero. 3) En consecuencia, en el desarrollo de la red mundial de DHL , el esquema de HUBS Regionales juega un rol de tremenda importancia; razon por la cual, el establectmiento de una empresa aerea. que vincule de una manera regular, de punto a punto, 10s dos Hubs Regionales, es de vital importancia para el exitoso y satisfactono funcionamiento del transporte de la carga y correo expreso a traves de toda la red. 4; DHL WORLDWIDE EXPRESS, por intermedio de su agente expedidor en PanamB, DHL PANAMA, S.A. se ha convertido en el principal HUB regional para America Latina, y en 10s archives de la DAC hay constancia de &to, por lo que ha llegado el moment0 de poner la ultima pieza en el tablero que lo constituye una linea regular de carga que transporte toda la carga proveniente de 10s distintos puntos de la red regional que seran 10s “FEEDERS’ de la empresa panameria hacia el otro Centro de Distribution que es Miami. 5) El desarrollo del concept0 esbozado constituye la mejor garantia de la viabilidad economica de la nueva empresa, pues tiene asegurada la carga que constituire la base de su saludable desarrollo economico, lo cual redundara igualmente en beneficio de Panam coma Centro Regional de Distribution de Trtifico de carga. --- PAGINA No.3 RkSOLUClON No.1761DTTAIDAC 7 -- DE SEPTIEMBRE --DE 1995 Otra garantia de la viabriidad economica de la empresa la constituye la infraestructura mundial y local que ha establecido DHL y la amplia experiencia de sus ejecutivos, tanto a nivel international corn0 local, en el negocio de la carga aerea y correo expreso, al igual que en el manejo del aspect0 de aviacidn de la misma, todo lo cual constituye una prueba fehaciente de la capacidad tanto tecnica y administrativa de que la operation se desarrollarB en condiciones de eficiencia, seguridad y regularidad. 6) Otro element0 que brinda sustento a las proyeccionesy estrategias sobre las cuales DHL AERO EXPRES0,S.A. basa su estudio de factibilidad y las justificaciones de su ingreso a 10s mercados que pretende explotar, esta dado por las nuevas realidades de la economia mundial, a lo cual no ha escapade Panama, asi corn0 tampoco la region latinoamericana y del caribe, que es donde se enfilaran las operaciones de la empresa; donde, coma resultado direct0 de estas realidades, ha habido una apertura de la economia y consecuentemente, una apertura en el i _ sector del transporte aereo, hecho que ha propiciado el surgimiento de nuevas empresas aereas de carga y . _-_ , una flexibilizacion de las reglas aplicables a esta _. ~ actividad. .J 7) 8;. . DHL * AERO EXPRESO, S.A. ha disetiado su estrategia de mercadeo y de prestacion de servicios tenlendo en consideration el nuevo entorno econdmico-legal que se esta creando tanto en Panama coma en el rest0 de 10s paises con respect0 al sector de la carga aerea, y tiene la conviction de que su experiencia, capacidad instalada y la adecuada utilization de 10s equipos de vuelo que pretende adquirir constituiran la garantia de una operation efrciente, regular y segura. Que, la sociedad DHL AERO EXPRESO, S.A. en su petition, aporto 10s siguientes documentos: 1) 2) 3) 4) 5) Poder y solicitud. Copia auienticada del Pacto social y sus reformas. Certification del Registro Public0 sobre la vigencia y existencia de la sociedad. Estudio de Factibilidad. Manual de operaciones. PAGINA No.4 RESOLUCION No.176IDTTAIDAC 7 -- DE SEPTIEMBRE --DE 1995 ‘3) 7) Paz y Salvo de la Direction de Aeronautica Civil. Certificacidn y Declarackn Jurada sobre la Tenencia de las Acciones. Que, la sociedad DHL AERO EXPRESO S.A. manifiesta que en sus operaciones aerocomerciales utilizara equip0 B-7271200 cargueros. Que, una vez agotados todos 10s tramites administrativos que conllevd la solicitud de la empresa DHL AERO EXPRESO, S. A., la Direction de Aerontiutica Civil mediante Nota No.l58/DTTA, de 29 de mayo de 1995 convoco para el dia 27 de junk de 1995, la Audiencia Publica de rigor, establecida en la Resolucron 191-JD de 25 de julio de 1979. Clue, el dia 27 de junio de 1995, a Ias 9:00 a.m. se surtio el tramite de la Audiencia Publica necesaria sobre la solicitud de DHL AERO EXPRESO, S. A., en la cual se die estado pr’rblico a la petition presentada. Que, durante la Audiencia Publica la unica oposicion que se present6 fue j la de la empresa CompatVa Panamena de Avlaclbn, COPA, la que centrof su oposicidn sobre et aspect0 de la Tenencia de las Acciones, las cuales debian ajustarse a las proporciones establecidas por el Numeral 2 del Articulo 164 ddei Decreto Ley 19 de 8 de agosto de 1963 y cuestiono si el control efectivo se encontraba en manos de panamenos pidiendo que se presentaran‘las pruebas correspondientes. .:\ . Que, mediante memorial de fecha 25 de julio de 1995, la Compaflia Panameila de Aviacibn, (COPA) present6 ,el resultado de una Action Exhibitoria qua basicarhente indicaba que la peticionaria DHL AERO EXPRESO, S. A. a esa fecha no habia emitido las acciones. Qile, mediante memorial de fecha 30 de agosto de 1995 el Apoderado Legal de DHL AERO EXPRESO, S. A. presento una Certification de la Firma de Contadores Publicos Autorizados, PRICE WATERHOUSE, al igual que una Declaration Jurada del Secretario de la sociedad en la que se indica que el Capital Social de DHL AERO EXPRESO, S. A. esta constituido por Quinientas (500) Acciones, sin valor nominal, las cuales fueron emitidas, pagadas y liberadas el21 de agosto del presente, estando el 51% del Capital Social pagado en poder de un ciudadano panametio, tal coma lo requiere el Numeral 2 del Articulo 104 del Decreto Ley 19 de 8 de agosto de 1963 que regula la nviacion national. Cue, en la consideration, evaluation y tratamiento de la presente solicitud se han surtido todos 10stramites administrativos que la Ley establece para este efecto y que la Direccidn de Aeronautica Civil ha constatado que la peticionaria ha cumplido con todos 10s requisitos legales para optar por un Certificado de Explotacion de Servicios de Aeronavegacion COtTWCial que la autorice a prestar 10s servrcios propuestos. PAGINA No.5 RESOLUCION No.1761DTTAIDAC 7 DE SEPTIEMBRE DE 1995 -Que, igualmente la Direction de Aeronautica Civil, ha confirmado a traves de la evaluation de la documentation y ,pruebas presentadas que 10s servicios propuestos vienen a llenar una necesidad y conveniencia publica y que, en consecuencia, no constituyen una competencia ruinosa para ningun transportista establecido, y que 10s servicios propuestos son ccnsonos con el inter& national de crear nuevas plazas de empleo en la industria del transporte aereo. Que, es potestad de la Direction de Aeronautica Civil aprobar las solicitudes de concesion de 10s Certificados de Explotacion, que las empresas aereas someten a su consideration, previa evaluation de las mismas. En Consecuencia RESUELVE: CONCEDER, a la empresa aerea DHL AERO EXPRESO, S.A. el Certificado Definitivo de Explotacion para que brinde 10s Servicios de Transporte Aereo Public0 Regular lnternacional de Carga Exclusiva y Correo de acuerdo a 10s siguientes lerminos y condiciones: A. -RUTAS AUTORIZADAS: ^. B. PANAMA/MIAMI/PANAMA PANAMA/GUATEMALA/PANAMA 2. PANAMAICARACASIPANAMA 3. PANAMAIGUAYAQUILIPANAMA 4. 5. . PANAMA/QUITO/PANAMA -PANAMA/SAN JOSE, C.R.lPANAMA ‘6. PANAMA/LIMA/PANAMA _ 7. PANAMA/MANAGUA/PANAMA . 8. PANAMA/EL SALVADOR/PANAMA 9. PANAMAITEGUCIGALPAIPANAMA 10. PANAMAIBELICEIPANAMA 11. PANAMA/MEXICO/PANAMA 12. .., 1. DERECHOS AEROCOMERCIALES: a) C. de Tercera y Cuarta EQUIPOS AUTORIZADOS: 1) D. Con derechos aerocomerciales Libertad. B-727/200 Carguero TERMINO DE DURACION: Tres (3) atios, efectivo a partir de la fecha de notification de esta Resolution. \ c PAGINA No. 6 RtiSOLUClON No.l75/DTTAClDAC 7 DE SEPTIEMBRE DE 1995 E: CONDICIONES: 1. Esta sujeto a las prohibiciones contenidas en el Articulo 107, del Decreto Ley 19 de 8 de agosto de 1963, y sus reglamentos. 2. Solamente se utilizara el equip0 expresamente destinado para el servicio de carga exclusiva, previamente autorizado por esta dependencia y que tenga vigente 10s certificados de aeronavegabilidad, matricula y demas documentation necesaria. 3. Queda sujeto al Oecreto Ley 19 de 8 de agosto de 1963, sus reformas, reglamentos y a 10s Convenios de’Aviaci6n Civil lnternacional que el Estado panameiio haya suscrito y ratificado: 4. Podra ser suspendido o cancelado por las causas que establece la ley y sus reglamentos o por incumplimiento de cualesquiera de tas obligaciones que se estipulan en el mismo. 5. Para autorizar el inicio de operaciones, la empresa debera cumplir con 10s siguientes requisitos: .-. Someter a la aprobacion de la. Direction de Aeronautica Civil 10s itinerarios y tarifas que pretende -. establecer en el servicio conforme *a ia ley y sus reglamentos. I” -..*+., I ‘* Cumplir ‘con la obligacidn de suministrar la information estadistica, economica-financiera o de otra indole que requiera esta dependencia; conforme lo establece el articulo 115 del Decreto Ley 19 de 8 de agosto de 1963 y sus reglamentos. 4 6. 7. Garantizar el pago de la indemnizacion correspondiente por dafios a terceros dentro y fuera del territorio panameiio, por las cantidades que establece el Decreto Ley 19 de 8 de agosto de 1963 y sus reformas. FUNDAMENTO LEGAL: NOTIFIQUESE Y CUMPL E Decreto Ley 19 de 8 de agost :ECm DE ~PEotcIo~: 12 de eeo+iemhre &.178-N-DAC de 1995 :ECHA DE VEI’JCIMIEflO: 11 d CERTIFICADO DE EXPKITACiOfU DE SERVlClOSDE AEROIWVEGKION.COMERCIAL EL DIRECTOR GENERAL EN Us0 DE SUS FACULTADES LEGALES RESUELVE: CONCEDER AUTORIZACION A LA EMPRE%, D.H.L. AERC EXPRESD, S.A. TRANSPORTE- Far8 clW ~b dediqw I b rctividd & oa~~rdo a ba condkionas de y limitaches qua so apodfka an rl ,..““T*s Y a_. 2. 3. 4. 5. 6. 7. R- 9. 1.n. 11. 12. ,v.u . , ( /A xas dsl ) de e - CIIcCULNCIas: ) NOTIFIC3 A PANAMA/WAMI IPANAMA PANAMA/GIJA’-=JA/PANAMA PANANA/CARACAS/PANANA PANAWtIGfJAVA~J~f.~PANAUA PANAMAItXI~~~PANhtUi PANAMA/SAN JOSE. C.R./PANhNA PANANA/L~~pPANAMA/rcANAc;rrA/~ANAMA DAt.&hl& IRt SAGVATX)R IPkNAUA ~ANAMA/~~JC~GALPA/PANkUA DANANA /Bet 1CR /PANAMA DANAYAJNEXI~ f PJWANA la R~sciuc:h anterior ..: gymam NO mana uS0 OC U IWT~IIVmnctoN oawow~t~c~ o(~gnc~ClAS WC SUICICRCM COW YOTIVO OC LA AWICACION ~CwnaUS V 08 ACVC~~ CON LO QVS RST~~LCCCII LAS LEvCS V..U ~ymssa rntuea*a MUAlJ=CnlE convCN~(I A LOS IWTCCOC LA tos. YTOS l P.S*JU SR~AN-O~NAOOC 0 Ci.‘H* oc VUCLO. AL 0001Cn~o *V’ACIOW CIVIL A LA EMPIE& ncsucro a LOS O~UICS Y ocmcc~os 08 us l anTcs •~~VCNICNTC~ 0 INTCI~CTACIOU 0s C$tC CCallClCA00 URAF( IIUUCLTAS POI v U~L~YLN~O~ OC LA mCPVOLICA Oc PANAMA. *AC~~NAC ~mnc CN QCNCCAL LOS POR CONDUCT0 oe7000 cosvo T~~INTA *asass vauoos Pana CUNCIONAl~OS OC LA DIRCCCION 01 ACRONAUTICA OaL OlUCTOll OSNCllAL 08 ACIONAUI~CA CIVIL V:*..dbWTAClONLS c&-DICIONES DEiSCRI7AS RN LA RESOLUCION No.l76/DTTA/DAC DE 7 DE- DE 1995. uc 08 8s~~ ~L~~~~~~~oo. TooAs LOS CU(ICIONAIIO$ 0 ~~~~~~~~~~ RUTAS au8 XXWOTC CIVIL TCWOIAM S‘CU-C V LOS YISyOS NO CSTTIAAN u e&ImuA ,ASAJU $“J‘TO$ V mm COAT,,,A C$,AC,~ Republic of Panama Directorate of Civil Aviation Box 7501 & 7615 Panama 5, Panama RESOLUTION No. 176IDTTAIDAC Panama, September 7,199s THE DIRECTOR GENERAL. OF CIVIL AVIATION using his legal faculties, and CONSIDERING That, Law Decree 13 dated January 22, 1969, created the Directorate of Civil Aviation as an Autonomous State Entity and conferred all the functions related to the, planning, investigation, direction, supervision, operation, inspection and exploitation of Civil Aviation in the Republic of Panama. That, FELIX PICARDI, in his capacity as Attorney in Fact of the company, DHL AERO EXPRJZSO, S.A., requested from the Directorate of Civil Aviation, a Certificate of Exploitation of Commercial Aimavegation Services, so that said company can offer and perform Scheduled International Public Air Transportation Services for the purpose of carrying tieight and mail. That, the company DHL AERO EXPRESO, S.A. basesit’s request on the following facts and documents: EIBST: DHL AERO EXPRESO, S.A. is a Panamanian Corporation constituted in accordance with Law 32 dated February 26, 1927 concerning Stock Companies, as noted in the Public Deed of the Third Notary of the Circuit of Panama,numbered 8584 and dated June 9, 1987. SECOND: DHL AERO EXPRESO, S.A. has prepared a Feasibility Study in accordance with the requirements laid out in Resolution 191, that contains information and satisfactory proof that the petitionary is in possession of sufIicient fmancial and technical capabilities to operate and conduct the proposed services under efficient, regular and secure conditions. Among the most important points contained in the above mentioned study and that relate directly to this point, we underscore the following: PAGE No. 2 RESOLUTION No. 176/DTTA/DAC SEPTEMBER 7,199s 1) DHL AERO EXPRESO, S.A. is an aviation company that has been established to serve principally the route PANAMA/MIAMI/PANAMA, that will constitute the main avenue by which all freight and mail will be transported, not only originating in Panama, but originating in other Central and South American countries. 2) The above mentioned means that Panama has been established as the REGIONAL TRAFFIC DISTRIBUTION CENTER (HUB) of DHL WORLDWIDE EXPRESS and it’s affiliated companies, causing in turn, the funnelling of all packages and cargo originating in the Latin America region through Panama, for which an Airline in possession of the necessary equipment is needed to transport this cargo to the North American Distribution Center located in Miami, from where it is re-distributed to rest of the DHL WORLDWIDE EXPRESS network, covering the entire world. 3) Consequently, in the development of the DHL world network, the REGIONAL HUBS scheme plays a tremendously important role; reason for which the establishment of an airline company, which connects, on a regular basis, point to point, the two REGIONAL HUBS, is of vital importance to the success and satisfactory operation in the transporting of height and mail throughout it’s entire network. 4) DHL WORLDWIDE EXPRESS through it’s agent in Panama, DHL PANAMA, S.A., has developed into the principle regional HUB for Latin America, this being well documented in the DAC (DIRECTORATE OF CIVIL AVIATION) files, reason for which, the moment has arrived to insert the final link in the chain, which is a scheduled cargo airline to transport all cargo arriving from the different points in the regional network which will be the “FEEDERS” of the Panamanianairline to the other Distribution Center, which is Miami. 5) The development of the outlined concept constitutes the best guarantee for economical viability of this new company, since it has the cargo assured which forms the base of it’s healthy economical development, which in turn will benefit Panama as a Regional Cargo Traffic Distribution Center. 6) Another guarantee economical viability of the company is the worldwide and local inf&tructure established by DHL and it’s executive’s ample experience in the cargo and express mail business and aviation management, locally and worldwide, all of which constitutes absolute proof of it’s technical and administrative capabilities and the operation will be developed under conditions of efficiency, safety and regularity. 7) Another element which renders support to the projections and strategies on which DHL AERO EXPRFSO, S.A. bases it’s Feasibility Study and justifications on entering the markets it pretends to exploit is based on the new realities of the world’s economy, of which, Panama has not escaped,nor have the Latin American and Caribbean Regions, where the company’s operations are geared to, and as a direct result of these realities, has caused an opening of the economies and consequently, the opening of the air transport sector, a fact which hqq propitiated the surge of new cargo airlines and the flexibilitation of the applica! of activity. Y PAGE No. 3 RESOLUTION No. 176IDTTAIDAC SEPTEMBER 7,199s 8) DHL AERO EXPRESO, S.A. has designed it’s marketing strategy and offering of services, taking into consideration the new economical-legal enviroment which is being created in Panama and the rest of the countries with respect to the air cargo sector and has the conviction that it’s experience, installed capabilities and adequate utilization of flight equipment which it intends to acquire, will constitute the guarantee of an efficient, regular and safe operation. That, the company DHL AERO EXPRJZSO, S.A. in it’s petition presented the following documents: 1) 2) 3) 4) 5) 6) 7) Power of attorney and Petition. Authenticated copy of the Articles of Incorporations and its reforms. Public Register Certification of the validity and existence of the company. Feasibility Study. Operations Manual. Debt Free Certificate with the Directorate of Civil Aviation. Certification and Affidavit concerning the Holding of Shares. That, the company DHL AERO EXPRESO, S.A. states that B-7271200 freighters will be used in it’s aerocommercial operations. That, once all administrative procedures regarding DHL AERO EXPRESO, S.A.‘S Petition had been exhausted, the Directorate of Civil Aviation by means of Note No. 158/‘DTTA, dated May 29, 1995, convened, for June 27, 1995, the required Public Hearing as called for in Resolution 191-JD dated July 25,1979. That, on June 27, 1995 at 9:00 a. m., the necessaryPublic Hearing convened to give Public consideration of the Petition presented by DHL AERO EXPRJZSO, S.A., took place, during which public state was given to said Petition. That, during the Public Hearing, the only opposition presented was by the company Compafiia Panameaa de Aviacioo, (COPA), which was focused on the aspect regarding the Holding of Shares, which should adjust to the proportions as laid out in Numeral 2 of Article 104 of Law Decree 19, of August 8, 1963, questioning if in fact effective control was in the hands of Panamanians,requesting that corresponding proof be presented to that effect. That, per legal brief dated July 25,1995, the Compafiia Panamefia de Aviation, (COPA) presented the re.sults of an ACT10 AD EXJXBENDUM that basically indicated that the Petitionary, DHL AERO EXF’RESO, S.A., up to that date, had not issued shares. That, per legal brief dated August 30, 1995, the Attorney in Fact of DHL AERO EXPRESO, S.A. presented a Certification from the Certified Public Accounting firm of PRICE WATERHOUSE, together with a Sworn Declaration from the Secretary of the company in where it is indicated that the Social Capital of DHL AERO EXPRESO, S.A. is constituted of Five Hundred (500) Shares, of no par value, which were issued; paid and liberated on August 21, 1995, 5 1% of the Social Capital being in the hands of a Panamanian citizen, as is required in Numeral 2 of Article 104 of Legal Decree 19 dated August 8, 1963, which regulates national aviation. That, in the consideration, evaluation and treatment of this Petition, all administrative procedures that were required by Law to this effect have been completed and that the Directorate of Civil Aviation has confirmed that the petitionary has complied with’all legal requirements needed for the obtention of a Certificate of Exploitati,. 1 of Commercial Aimavegation Services which authorizes herto provide the proposed c PAGE No. 4 RESOLUTION No. 176/DTTA/DAC SEPTEMBER 7,199s That, likewise, the Directorate of Civil Aviation has confirmed through the evaluation of the documentation and proof presented that the proposed services till a public need and convenience and that, as a consequence, does not constitute ruinous competition for any existing transportation company, and that the proposed services are consonous with the national interest of creating new jobs in the air transportation industry. That, the Directorate of Civil Aviation has the power to approve requests of concession of Certificates of Exploitation which are brought forth by companies for it’s consideration, previous evaluation of same. Therefore RESOLVES: TO GRANT to the airline company DHL AERO EXPRESO, S.A. the Definite Certificate of Exploitation so as to offer International Scheduled Public Air Transportation of Freight and Mail Services, in accordancewith the following terms and conditions: A. AUTHORIZED 1. 2.. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. B. RIGHTS: Aerocornmercial rights with Third and Forth Freedoms. AUTHORIZED 1) D. PANAhWiMIAMIlPANAMA PANAMA/GUATEMALA/PANAMA PANAMAtCARACAStPANA PANAMAlGUAYAQUIL/PA PANAMA/QUITO/PANAMA PANAMA/SAN JOSE C.R.lPANAMA PANAMAJLIMAIPANAMA PANAMA/MANAGUA/PANAMA PANAMA/EL SALVADOR/PANAMA PANAh4AmZGUCIGALPAANAMA PANAMAIBELICEPANAMA PANAMA/MEXICO/PANAMA AEROCOMMERCIAL 4 C. ROUTES: EQUIPMENT: B-727/200 Freighter TERM OF DURATION: Three (3) years, effective as from the date of notification of this Resolution. E. CONDITIONS: 1) It is subject to the prohibitions contained in Article 107, of Law Decree 19 @ted August 8,1963, and it’s regulations. 2) Only equipment solely destined to the service of exclusive cargo can be used, previously authorized by this dependency and that it carry valid and airworthiness and, registration certificates and documentation. PAGE No. 5 RESOLUTION No. 176/DTTA/DAC SEPTEMBER 7,199s 3) It is subject to Law Decree 19 dated August 8, 1963, it’s reforms, regulations and International Civil Aviation Agreements that Panamanian State has subscribed to and ratified. 4) It can be suspendedor cancelled for those causesestablished by law and it’s regulations or for non-compliance of any obligation stipulated therein. 5) To authorize the start operations, the company must comply with the following requirements: Submit for approval to the Directorate of Civil Aviation rates and itineraries it intends to establish conforming to the laws and regulations. 6) Comply with the obligation of supplying statistical, financial and economical information or any other which may be required by this Dependency; in accordance with that established in article 115 of Law Decree 19 dated August 8, 1963 and it’s regulations. 7) Guarantee the corresponding indemnity payment for damages to third parties, in, or outside of Panamanian territory, in the amounts as established in Law Decree 19 and dated August 8,1963 and it’s reforms. Law Decree 19 dated August 8,1963. LEGAL GROUNDS: NOTIFY AND EXECUTE: LIC. EUSTACIO FABREGA DIRECTOR GENERAL Signature Stamped EAHV/ep A (I AiYXiiLLE (COfWen dhde Pais -...- P?Y?.. 1. E! pre,zl.e - -I.j._ -. 2. ‘, ,,’ ::.:. ...I . . ...-...-. .13 -’ 1 IIrcw 1 Qi& lr, 5. 4. 5. 8. 9. c $< 1,; r. 79 .r !Q. Fhl3: I--..-.-.> fb / Lk. NO 1448 1. ROUTES AND FREQUENCIES: I. 2. 3. 4. 5. 6. 7. 8. 9. IO. I I. 12. II. AUTHORIZED PANAMAIMIAMIIPANAMA PANAMA/GUATEMALA/PANAMA PANAMA/CARACAS/PANAMA PANAMAIGUAYAQUILIPANAMA PANAMA/QUITO/PANAMA PANAMA/SAN JOSE, C.R.lPANAMA PANAMAILIMAIPANAMA PANAMA/MANAGUA/PANAMA PANAMA/EL SALVADOR/PANAMA PANAMAITEGUCIGALPAIPANAMA PANAMAiElELICEiPANAMA PANAMAIMEXKOIPANAMA AIRCRAFTS: - !<. 1’7:,, II ,> ,‘, *. 6 -20 ‘> . . .____....___ B-727/200 CARGO III. THE COMPANY IS SUBJECT TO THE STRICT COMPLLANCE OF THE DISPOSITIONS CONTAINED IN THE CABINET LAW DECREE No. 13 OF 22 JANUARY, LAW DECREE 19, OF 8 AUGUST, 1963, WHICH REGULATES NATIONAL AVIATION AND ALL THE LAWS DECREES AND REGULATIONS OF THE REPUBLIC. 1969, IV. THE COMPANY SHALL NOT RESORT TO DIPLOMATIC INTERVENTION WITH RESPECT TO THE DUTIES AND RIGHTS ASSIGNED TO THE PARTS STEMING FROM THIS CERTIFICATE. ALL DIFFERENCES THAT COULD ARISE WITH RESPECT TO THE APPLICATION OR INTERPRETATION OF THIS CERTIFICATE SHALL BE SOLVED BY THE FUNCTIONARIES OR NATIONAL TRIBUNALS AND IN ACCORDANCE WITH THAT SET FORTH BY THE LAWS AND REGULATIONS OF THE REPUBLIC OF PANAMA. V. THE COMPANY SHALL DELIVER ANNUALLY TO THE NATIONAL GOVERNMENT, FREE OF CHARGE, THIRTY VALID TICKETS FOR THE ROUTES OPERATED OF THE DIRECTORATE THE COMPANY AND FOR BEING OF CONVENIENCE TO THE 1NTERESTS OF THE CIVIL AVIATION IN GENERAL, THE FUNCTIONARIES CIVIL AVIATION SHALL ALWAYS HAVE FREE TICKETS. THESE TICKETS SHALL BE REQUESTED FROM THE COMPANY THROUGH THE DIRECTOR GENERAL CIVIL AERONAUTICS AND THE SAME SHALL NOT BE SUBJECT TO SPACE AVAILABILITY OR DATE OF THE FLIGHT. VI. THIS CERTIFICATE OF EXPLOITATION SHALL NOT BE TRANSFERRED AUTHORIZATION OF THE DIRECTORATE OF CIVIL AERONAUTICS. VII. IN ANY WAY TO A NATURAL LIMITATIONS CONDITIONS SET FORTH R\JRESOLUTION No. 176/DTTNDAC OF SEPTEMBER 7,1995. OR LEGAL PERSON WITHOUT THE BY OF OF PREVIOUS LA DlRECCtON GENERAL CON VISlA i17/ A LA DEL REGL SOLICITUO 1 I/ 1935 C E R 1 -----------------------------QUE LA OHL AERO EXPRESOv S.A. SE h”ILULNTRA KEGISTRAOA EN LA FICHA!tttr)E EL VFI?lTETRES DE JULIO DE MLL C.lUE L4 SOCIED40 SE ENCIJENTRA VIGENTE f F t C A- Q)(-ffZEDAD - ----------------------------- 195673 NOVECCENTOS ROLLOOCHENTA SUS OIRECTWES SONJORGE FIA9ANJO - t\RUCE WALKER - FELIX HWlHERlO PICARDI L4 KEPRESENlACtON LEGAL LA EJERCERAFL PREStDFNTE. RtStOENlE ESFELtX HUHBERT r,UP SU AGENTE OETI\LLE DEL CAPITAL CL (3.1Pl.rAL SOCIAL ES OE ?UtNIENTAS ACCIONES r;iJt: SIJ DU;I4CIO?J ES PERPETUA WE SU DOMlClLtO ES PANAMA tit42 Y SIETE f MAGEN# :;IUE L2 3 WE rlUE SUS DIGNATARIOS SONPRF S 1 IJEN TE- FELIX HUHBERlO TES’JRERUSTEVE GETZLER SECSETfiRIUFELCX PICARD PtCARDt SIN CAMPSELL VALOR NOMftUAL. PfCAROt &WIDU Y FIR;4AOO EN LA CIUOAD !?tL NCIVECIENTOS NUVENTA Y CINCO DE PANAMA 9 + EL.c~ATR.o DE OtCtEMBRE A LAS oL;35-30*9 O.H. PiUT A- ESTA CERTiFICACtUN NO ES VAL IDA SI NO LLEVA AOHERtOr3S LOS Tttl’IQf:S C~RRESPUNDIENTES~- CERrIFfCAOOR DE 173 REPUBLIC OF PANAMA 14.20STAMPS. MAGS PAG- 1 THE DIRECTOR GENERAL OF THE PUBLICREGISTRY UPON REQUEST NUMBER 4736 MAGS-CORRECTION ----- 29/1l/1995 CERTIFIES DHL AERO EXPRESO, S.A. IS REGISTERED AT CARD 195073, MICROFILM 21742, PICTURE 173 AS FROM THE TWENTY THREE OF JULY, 1987. THAT THE CORPORATION IS IN GOOD STANDING. THAT ITS DIRECTORS ARE: lJORGE NARANJO 2BRUCE WALKER 3FELIX HUMBERTO. PICARDI THAT THE LEGAL REPRESENTATION WILL BE EXERCISED BYTHE PRESIDENT. THAT ITS RESIDENT AGENT IS FELIX HUMBERTO PICARDI CAMPBELL. THAT THE CAPITAL IS FIVE HUNDRED NO PAR VALUE SHARES. THAT THE DURATION IS PERPETUAL. THAT ITS DOMICILE IS PANAMA. THAT ITS OFFICERS ARE: PRESIDENT- FELIX HUMBERTO PICARDI. TREASURER- STEVE GETZLER. SECRETARY- FELIX PICARDI ISSUED AND SIGNED AT PANAMA CITY, THE FOURTH OF DECEMBER, 1995. AT 01-35 30.9 P.M NOTE- THIS CERTIFICATION IS NOT VALID IF THE CORRESPONDING STAMPS ARE NOT ATTACHED THERE TO. Seal REPUBLIC OF PANAMA OFFlCE OF THE PUBLIC REGISTRY. _ .. LIC. IVONNE ARJONA CERTIFIER . . ..Q. ....< ....................... 9 I” / 5. eu . .._.??I. (f) .# 7. pf’r y PIi 1: iic iJ, l?i, ..... ...... ....I .. .d ... . .,, G---J . . . . . . . . . . . .. . . . . . . . . 9 \ o I ! ll ~~~t...Y?... ’ ...... . .IY,.... . ....... Yc!~ ,: .. . .. .. . / r&=-k / . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..~..~ I. , ’ 4 Exhibit DAE PR-5 Page 1 of 29 January 26, 1996 Directors, DHL AERO ESPRESO, S.A. Qualifications of Officers, and Key Management (See following 28 pages) Personnel OF FELLXH. PICARDI ATTORNEYATLAW P.O. Box 6-3947 Panama, El Dorado Rep. of Panama Tel.: (507) 23-0347 SUMMARYOF QUALIFICATIONS: Good understanding protracted involvement private level. Extensive bilateral level (within level of the aviation industry issues due to a in the civil aviation at governmental and experience in international negotiations, (government to government), as well as multilateral the frame work of International Organizations). Awareness of the legal needs business in the international arena, its develop corporate having to jurisdictions. at that an enterprise, doing might have to confront from activities in different Ability to write general correspondence, reports and draft complex legal documents, providing clear answers and effective remedies for institutional and corporate legal problems, including litigation when necessary. Experienced in teaching Commercial and Aviation Law and capable of researching a wide range of legal questions, being able very rapidly, a good level of understanding and insight to develop, to the accessibili<y to a rich of complex legal problems, due a broad gamut of legai personal library with law books covering subjects. to develop and maintain Aptitude personal relations with people of different an exposure to an international milieu. Able to lead, supervise, and demonstrated of staff, greater responsibilities. Good language currently studying skills Italian. good professional and nationalities thanks to train and gain loyalty and dedication capability to handle positions of in Spanish, English and (FOR FURTHER DETAILS SEE FOLLOWING PAGES) French and - 2 - PROFESSIONAL EXPERIENCE: 1990 - Present Sole at Law, Despacho No. 9 Picardi & Co., Attorneys delcentro Comercial La Colmena, P.O. Box 6-3947, El Dorado Republica de Panamb. Practitioner: entails representing clients My primary responsibility their private dealings, as well as before government agencies areas of law: nationals courts, mainly in the following in and general air law work, including, litigation, filing applications for the obtention of operating permits for aviation clients, registration of aircrafts, tariffs and schedules, preparing and conducting trial cases for aviation administrative hearings; general corporate work, including planning, negotiating and stockholders agreements, employment drafting for incorporations, liquidations and related minutes and resolutions; contracts, all aspects of ship's general shipping work, including preparation of pleadings, mortgage negotiation, registration, briefs and the documents for stipulations, subpoenas, motions, cases pending before the maritime court; general practice .work, including wills, trusts, estate plans, trade names and trademark agreements, general contracts, franchises and matrimonial settlements. 1986 - General Central Ministry of Foreign Affairs of Civil Aviation of Panama - Civil America. 1989 of Panama - Directorate Aviation Authorities of Permanent Representative of Panama and Central Ambassador, International Civil Aviation of the America on the Council -1989 at the headquarters of Organization (ICAO) for the period 1986 the Organization in Montreal, Canada. - 3 Responsible for: - attending the meetings of and participating in the works and deliberations of the Council and its Subordinates Committees: Air Transport, Finance, Legal, Personnel, Unlawful Interference and any other Sub-Committee, Working Group or Panel set up by the Council; - participating in Special Meetings and Conferences convened by the the Diplomatic Council for specific purposes, for example: Conference which adopted a Protocol on Acts of Violence on Airports Serving International Civil Aviation, the Facilitation the Statistic Divisional Meeting; Divisional Meeting, - serving as liaison between the Ministries of Foreign Affairs, Embassies and the Civil Aviation Authorities of Panama and Central America and the Council of ICAO; - representing their matter of concern interests and voicing to them being treated - submitting progress reports any queries work, reponding The above responsibilities their opinions by the Council; the in any to all of the above of Council's that might arise in this regard. entailed: - the discharge of all mandatory and permissive functions assigned to the Council and its Standing Committees by Articles 54 and 55 of the Convention on International Civil Aviation of 1944, better known as the Chicago Convention; - to carry stemming body; out all ICAO Assembly directives and instructions from Resolutions and Recommendations adopted by this - the adoption of international standards, practices covering all technical aspects of international (legislative function) ; and procedures civil aviation - to deal with any legal matter arising from the application, violation or interpretation of the Chicago Convention, its Annexes and other Conventions adopted under ICAO auspices (legal and judicial function); - to monitor the evolution of the aviation market place and to keep track of any new developments in the air transport industry, in order to provide advice and guidance to member states in the field of air transport economics based on those findings (advisory function). - The carrying out these various 4 - responsibilities - the formulation by the Facilitation amendments to Annex 9 to the Chicago based on the preparatory work of the which eventually led to the adoption Council, thus, making more expeditious through international airports; resulted in: Divisional Meeting of many Convention on Facilitation, Air Transport Committee, of these amendments by the the transit of passengers - the adoption by a Diplomatic Conference of a Protocol to the on Airports Montreal Convention of 1971, on Acts of Violence based on the preparatory serving International Civil Aviation, responding in this way to the work done by the Legal Committee, keen interest of the international community to prevent the recurrence of such acts; of which I - the effective management, by the Finance Committee, was its Vice-President from i988-1989, of the worse financial accomplishing its restraint crisis endure by the Organization, through the adoption of contingency measures, which brought the finances back on track and out of the red; and in this context, a new concept of Budget Program was divised, in order to provide a more effective toll for a better management of the finances of the Organization. 1984 - 1986 Ministry General Ministry of Foreign Affairs of Panama - Directorate of Consular and Maritime Affairs of the of Treasury. Consul General of First and Northern Ireland. Responsible Category to the United certain juridical acts marriages, etc.); - serving as Public Notary and private documents; to certify and encouraging promoting - rendering support respect to hiring, tourism national (births, the authenticity - keeping abreast the Panamenian Government business opportunities in the U.K.; - commercially Wales for: - acting as registrar for inheritances, defunctions, - stimulating Kingdom, and its of public nationals to Panama; products; to seamen on board Panamanian vessels abandonment, repatriation, etc.; with of - 5 - - executing preliminary registration of ships enrolling in Panama's issuing the mandatory ship's documents Merchant Marine, operating radio license, certificate of (navigational patent, competency for seamen, etc.); - acting as registrar vessels registered - ensuring staying of ownership titles in Panama's Merchant and mortgages Marine; that the rights of the Panamanians in the U.K. were respected; - defending the national prestige whenever living it deeds of or temporarily was threatened. Accomplishments: - a significant increase in ship registration took place as a result of a promotional campaign of Panama's Open Registry we undertook, being important to note, the entry of the newly built vessels from the Scandinavian countries, which helped to enhance the image of the Registry; - an important increment in the collection of taxes and revenues for the national treasury ensued, as a result of the new entries in the Registry; - tourism was promoted advertisements; through a public relations efforts - commerce was further through contacts the Consulate between British and Panamanian businessmen. As Consul General I had under my direct 1 Maritime 'Advisor and 8 administrative Consul, 1984 - 1986 supervision staff. 1 Vice- of Panama to the for: - setting up Panama's work of 3 Alternates - ensuring arranged Ministry of Foreign Affairs of Panama - Directorate General of Consular and Maritime Affairs of the Ministry of Treasury. Representative Permanent Ambassador, International Maritime Organization (IMO) . Responsible and the presence Permanent Mission Representatives; and active to IMO and super-vice participation the of the Panamanian - 6 Mission in the works and deliberations of IMO Council and its Marine Enviroment Protection Committee, Standing Committees: Maritime Safety Committee, Legal Committee, etc.; - submitting progress reports to the Ministry of Foreign and to the Directorate of Consular and Maritime Affairs, the work of the Organization; - making recommendations adopted in this field. with regard to actions Affairs about and policies to be Accomplishments: - the professionalism and sense of responsibility displayed by the members of the mission gave assurances to the shipowners, users that their interests were being looked after; of the Registry, - the lobby we made for the election of Panama to IMO Council was an important contributory factor for securing one seat in this body; - through the contacts we made with high level officials of the the process of integration of International Chamber of Shipping, Panama's Shipowners to this Organization was significantly advanced. In this position my supervision. 1982 - 1984 Director Directorate Directorate of Air Responsible - conducting, directorate; - advising - formulating international I had three Alternates General of Civil of Air Transport. Representatives Aeronautics of Panama - Transport. for: . supervising the Director and coordinating General the air transport levels; transport policy at national - servind as a comptroller of competition operating to and from Panama; - acting as police judge competition principles, the work of the on air under matters; and among the airlines of contraventions of the in cases and other air transport regulations; - 7 - - participating agreements; - attending aviation - serving in bilateral negotiations of air the meetings of the regional bodies (LACAC, ICAO); as liaison Accomplishments officer for transport and world the technical wide civil assistance mission. include: - the reorganization and strenghtening of the Air Transport Directorate through the technical assistance program, with the redefinition of its objectives and responsibilities, in the light of the new trends of the air transport industry; - the enhancement of the air transport network at national and through the authorization of operating international level, and through the conclusion of new rights to new airlines bilateral air transport agreements; - the incorporation of the Statistics improving our capacity Directorate, for our work. 16 Department into to process vital In this position I had under my direct supervision professionals and 6 administrative staff. 1981 Deputy - 1982 Directorate Directorate Director Responsible of Air the information 22 persons, General of Civl Aeronautics of Air Transport. of Panama - Transport. for: - assisting the Director of the office; in discharging - replacing in his the Director - fulfilling above. almost the all the responsibilities absence; same duties of the Director as described Accomplishments: - actively aviation participated policy; in the works of formulation - as member of the drafting important contributions group of the Civil to its works; of the national Aviation Code I made -a- - completed the regulations applicable as other air transport regulations; to airport - directly participated bankruptcy of Braniff. of the crisis 1980 Directorate Directorate - 1981 Advisor on Treaties Responsible - advising treaties, - assisting General of Civil of Air Transport. and International as well caused by the Aeronautics of Panama - Organizations. for: the Director agreements - looking after documentation LACAC, IATA, - drafting in the handling handling on all matters and international the correspondence, of the international etc.) clauses for the Director Accomplishments air related to air organizations; communications civil aviation transport transport, and bodies (ICAO, agreements; in the conduction of public hearings. include: - the completion of a prototype bilateral be used in all bilateral negotiations aviation authorities; agreement which began to held by Panama's civil - the development of a new method to evaluate the applications of where legal and economics criterias airlines for traffic rights, were taken into account in order to reach a decision; - the successful1 completion of the Familiarization Course sponsored by ICAO at the headquarters of the Organization in Montreal, gave me a depth knowledge of the work and activities of this specialized agency of the U.N. 1975 Legal Directorate General Legal Bureau. - 1980 of Civil Aeronautics of Panama - Assistant. Responsible for: - assisting the Director of the Department in the legal work; - 9 - drafting documents contracts, - rendering matters. legal opinions - Accomplishments - the completion and regulations about and administrative administrative decisions; and general law include: of a compendium containing related to civil aviation all the laws, in Panama; decrees - the successful conclusion of my post-graduate studies at the Institute of Air and Space Law of McGill University, where I was awarded a Diploma in Air and Space Law and a Master of Laws (LL.M.1. ADDITIONAL PROFESSIONAL ACTIVITIES: Teaching Experience: 1982 - 1984 1982 - 1984 Conferences 1985 Professor of Commercial Law, School of Business School of Accounting, Faculty of Administration, of Panama. Commerce, University Professor Aviation of Aeronautical of Panama. Legislation, School of Civil Delivered: - A Competitive Pressure, Conference on Flags of Convenience "Minimizing Shipping Problems for Trade Development", promoted by the United Kingdom Trade Agency for Developing London. Countries. EDUCATION: Air Master of Laws (LL.M.1, and Space Law, Montreal, in Diploma Institute of Air Licenciate Panama, Faculty 1980, McGill University, Quebec, Canada. Institute of McGill University, Air and Space Law, 1978, and Space Law, Montreal, Quebec, Canada. in Law and Political of Law and Political Science, Science, 1976, University of Panama City, Panama. - 10 RESEARCH WORKS: Legal Status of the Air Space above the Panama Canal, Master Thesis submitted in 1980 to the Institute of Air and Space Law of the Faculty of Law of McGill University, in partial fulfillment of the requirement for the degree of Master of Laws. Old and New Bermuda Principles, An Appraisal, Term Paper submitted in 1978 to the Institute of Air and Space Law of the Faculty of Law of McGill University in partial fulfillment of the requirement for the degree of Diploma in Air and Space Law. Causas de Inimputabilidad en la Legislaci6n Panamefia, Graduation Work, submitted in 1976 to the Faculty of Law and Political Science of the University of Panama, in partial fulfillment of the requirement for the degree of Licenciate in Law and Political Science. LANGUAGES: Spanish, studying) English, . French (fluent), Italian (basic, currently PROFESSIONAL AFFILIATIONS: Panama Bar Association. Institute of Air and Space Law Association. HOBBIES: Scuba Diving, Karate, Tennis, Reading, Travelling. PERSONAL DATA: Age 40, single, excellent Europe, Canada and U.S. health, extensivelly REFERENCESAND FURTHER DATA ON REQUEST travelled in From: Subject: To: cc: Sent: Received: mail>jnaranjo@pty-co Curriculum cgamundi@fll-ro 11/13/95 11/13/95 Name: Jorge Enrigue Naranjo Cordova Address: Altos de Romeral calle Cadiz N672 Panama, Rep. de Panama. Telephone No: Personal Data: (507) Age Civil Status Weight Physical Health Citizenship Date of Birth Education: sed.nars 233-1159 36 years Married 125 pounds Excellent Panamenian May 7, 1959 1977 Panamerican Institute (Elementary and Bachelor in Commerce High School) Bilingual with Specialization in Accounting. 1979 - 1983 Santa Maria La Antigua University Third year in Accounting. Attended: Perspectivas Tecnicas y Educativas Decada de1 80. de1 Contador en la Actualization Sobre Aspectos Legales y Contables Impuesto Sobre la Renta. Years: 1980, 1981, 1982, and 1983. de1 Seminario de Redaction Interpersonal Seminars Attknded Given de Informes Managements by Peat, Skills Harvick, Mitchell Auditoria Bancaria - Niveles Auditoria - Niveles 1 & 2 & Co. 1 612 de la Auditoria Administration Dictamen de 10s Auditores Observation Tecnicos. y Estados Financieros de Inventarios Acontecimientos subsecuentes Estados Financieros. Consolidation y Revelation y Combinaciones de Estados en 10s Financieros Contabilizacion de ajustes de Periodos Anteriores Partidas Extraordinarias y su Revelation en 10s Estados Financieros. Estudio Tecnico y Evaluaciones de Flujogramas de Controles Internos y de y Estudio Experience January I978 - October 1980 Celica Cia. Ltda., Accountant S. A. November 1980 - November 19981 Marubeni Panama, S. A. Accountant November 1981 - November 1984 Peat, Marwick, Mitchell f Co. Started as Assistant Auditor, Promoted to Staff Auditor, in charge of business and manufacturing companies and Banking Institutions. December 1984 - January 1988 DHL Panama, S. A. Country Finance Manager Hain Job Funtions Control and be responsible for the Accounting and Finance funtions of the Company's operation at Panama and to operate this responsabilities within the Company's Policies Report on and Procedures. Accounting and Finance matters to Local and Regional Management and to liaise with banks and other outside institutions to represent the Company's interests. January 1988 to November 1991 DHL Regional Service LTD Regional Finance Manager (Latin America C The Caribbean) November 1991 to November 1994 DHL Panama, S. A. Regional Finance Manager In charge of Internal Audit for Latin America 61The Caribbean. November 1994 to the Present DHL Panama, S. A. Area Finance Manager Panama and Central America. Reference: James P. Fenoglio Regional Financial Controller DHL Regional Services, LTD. 6360 NW 5th Way, Suite 103 Fort Luderdale, Florida 33309 Phone No: (305) Bruce Walker is Regional Director & General Manager in charge. of DHL Worldwide Express operations for Latin America, the Caribbean Islands and Bermuda. He oversees DHL activities in 47 countries, and more than 2200 employees. The company’s headquarters are located in Ft. Lauderdale, Florida. Mr. Walker joined DHL International Ltd. in May 1974. His first assignment, commencingAugust 1974, was as Country Manager in Singapore. Mr. Walker was quickly promoted to Southeast Asia Regional Manager, a position he held until 1980. As Regional Manager for Southeast Asia, Mr. Walker managed the opening of DHL’s air express service to India and Brunei, and successfully directed business development efforts in Thailand, Indonesia, Malaysia and Singapore. By the end of his tenure In Southeast Asla, OHL Worldwide Express was recognized as the market leader In International air express shipments. In October 1980, Mr. Walker was appointed Regional Manager for Latin America, and moved to Rio de Janeiro, Brazil. At that time, the Latin American region consisted of seven countries, employing a total of 209 people. In 1984, the regional headquarters were transferred to South Florida in the United States to assuregreater coordination of management activities throughout the region and to provide more comprehensive customer service and, logistical support. Mr. Walker was promoted to Regional Director and General Manager in 1988. Mr. Walker graduated from Brigham Young University in Provo, Utah with a Bachelor of Arts degree in English. He joined the U.S. Alr Force, where he piloted C-Xl0 Hercules aircraR and served two tours of duty in Vietnam. Mr. Walker was promoted to the rank of Captain before his discharge ln 1974. A native of Holtville, California, Mr. Walker and his wife, Beverly, reside in So$h Florida. OHL Worldwide Express is the world’s most experienced international air express network linking more than 80,000 cities in more than 200 countries. OHL Worldwide Express is comprised of OHL International, Ltd., headquartered in Brugsela, which serves all locations outside the U.S. and its territories, and OHL Airways, Inc., headquartered h Redwood City, California, which seTv8s all locations within the U.S. and its t&tories and their agents and afliliated companies. #RX Cont&3: Susan Lyon (G5449CM404) OHL Worklwide Express STEPHEN E. GETZLER P.O. Box 55-0967 Paitilla Panama, Rep.of Panama Tel. (507) 23-7991 0BJEcTrvE: Operational and or commercial position with a large the management organization in multi-national with emphasis on tansportation, sales there sector of and the rendering of applicable services. SUHMARY: focusing on Over 25 years in management positions financial and relations public operational, ranging from a large with companies controls firm international telephone directory publishing international airline and also to an established and parcel courier international largest the express organization in the world. EXPERIENCE: Gateway/Hub/Aviation 1992-Date: Control and supervision of the Central American and the South American Northern Co:; ;;z&ion and world's center re-distribution parcel largest courier and parcel express organization. Manager: DHL Worldwide Express Primary functions presently include the personell Panama re-structuring of the and administrative involving controls the modernization of Hub, scanning document and parcel computerized the construction of a new facility procedures, is planned for completion by the end of 1995 which and the adaptation of a new and sophisticated sort/processing system which will also be teminated by year end, 1995. operation involves 4 flights nightly, movement of in/out monthly an 200,OOORGS of material. Present average 1976-1992: Station Manager: KLM Royal Dutch Airlines, with over Panama staff supervision of the encompassed for the entire KLM 40 strong, over freight and maintenance handling, Tocumen Panama's operations at In addition, at KIN's peak International Airport. as a third party ground handling agent at Panama, 6 foreign international carriers were being tended to by our staff. Position numbering passenger handling Stephen E. Getzler Curriculum Vitae.. Page 2 of 4 During the final to cost-cutting above mentioned single handedly. years with the airline, mainly due measures and staff reductions, almost duties were being handled above and under various tasks mentioned During this period, of international licenses required a variety These will be outlined technical training. "EDUCATION/TRAINING". Shutdown of KLM groundhandling Reason for leaving: Handed over to at Tocumen Airport. operations third party agent. 1969-1976: Manager: International LTD., Panama. Telephone Directory Services production, the invloved functions Prime the sales of advertising and publication During national telephone directory. Panama-Colon national and a managed staff period, this campaign with anual revenues in excess advertising Final result was 1.5 million USD (USD 1969). of 150,000 over and production of the compilation Our organization was under directories annually. to The Panama Power and Light Company, a contract subsidiary of the Boise Cascade Corporation. leaving: Reason for Panama Government. 1965: Company nationalized Part-time Sales Supervisor: Los Angeles, California. Wallach's by Music the City, surveys, national record sales invloved Position reporting directly to major recording studios and Managed security (theft radio stations nationwide. prevention) throughout the department. Reason for employment. leaving: Return to school. Summer Stephen E. Getzler Curriculum Vitae.. Page 3 of 4 EDUCATION/ TRAINING: Elementary Schooling, East Rochester East Rochester, New York. St. John's Junior School, School, High Lima, San Juan, School, Peru. Puerto Franklin Roosevelt Academy, Del College, State Polytechnic 1965-1966. Skills New York, Flight F.A.A. of Aeronautics, Additional Support Airport, Concepts, Station Schipol and Co., Dispatcher Course, Sheffield Miami, Florida, 1976. Aviation Check, Full Flight Training Center, Dispatcher Dutch Civil Aviation Flight Amsterdam, Holland, 1977. P.P.C. 1989. Panama Chamber of Nelson Seminar, 1972. Qualification License, KLM 1977. Panama Civil R.P., 1977. 1966-1967, Panama, 1970. Business Administration Commerce, 1971. Advertising Rochester, Mar, Pomona, Zone College, Balboa, Canal Zone, Canal Business Administration. Associate Arts, Dale Carnegie, School, Rico. Delano School, San Diego Military High California, 1962-1965. California California, Public Periodical Proficiency Service Schipol Panama, License, Advisor School Validation, Checks, 1981, 1985, Management Workshops, KLM Training and Zaandfort, 1980, 1990. Center, Courses, advanced Center, Passenger Handling Schipol, basic 1979, KLM Training 1980. Stephen E. Getzler Curriculum Vitae.. Page 4 of 4 CORDA, Center, computerized reservations, Schipol, 1980, 1983. KLM Training CODECO, computerized departure Training Center, Schipol, 1987. MILITARY: Social Schipol, Skills 1979. Airline 1989. Catering, Seminar, control, KLM Training KLM Training KLM Center, Center, Schipol, Dutch Civil Aviation including Radioactive Center, Schipol, 1983, Dangerous Goods License material, KIM Training 1984, 1987, 1991. United States Navy, California, 1967-1968, U.S.S. active Sperry I duty. San Diego, River Attack Squadron, River Patrol Force, Co Chien River, Republic of South Vietnam, 1968-1969, active duty. Fulfillment Discharge. PERSONAL: of reserve service, Born: Date: Age: Rochester, New York June 28, 1947 47 U.S. valid citizen working 1973, and legal resident of Panama permit. Married with 3 children. Height: 6'1/2" Weight: 2151bs. Excellent Health. ADDITIONAL: Completely Honorable bi-lingual, English-Spanish. WCELLENT REFERENCESAVAILABLE ON REQUEST with AUGUST0 VILLALIZ C. TELEPHQNE.CONTACn HOME: (305) 223-5067 (305) 225-0773 FAX: (305) 225-0774 MIAMI, PLCMIDA33182-2060 OBJECTIVE: TO BE CONSIDERED BY “DHL AERO EXPWESO, S.A. ” FOR A POSITICN A$ COMhdAND1td~ PILOT. FLIGHT RATINGS: AlRLlNE TRANSPORTPILOT: AIRPLANEMULTI ENG!NE LAND FLIGHT INSTRUCTOFl:ADVANCED,INSTRUMENT MEDICALCERTtFICATE: FAA & PANAMA CLASS I , NO LIMITATIONS. TOTAL: PILOT IN COMMAND: 02OO:OO LARGE TRANSPORT; 612O;OO : 772O:OO TURBlNE WORK EXPERIENCE: JUN 1966 -0cT1990 11900 + .HOURS MULTI ENGINE:967O:W SINQLEENQ. : 145o:OO INSTRUCTOR; $I 5O:OO PANAMAAIR FORCE TOCUMEN INTL. AIRPORT PANPMACITY, PANAMA ACTUAL INSTRUMENT8 : 56OO:GO 81MINSTRUMENT8 : 462:oo NlGHT ; 4501.90 PILOT-I&COMMAND, INSTRUCTOR PILOT SINGLE ENGINE,AT-6, BECtlTCRAfl C-45. T-33/F-80, DHC-6 TWIN OTTER, PA31-310 AEf%XOMANDER, FALCON #)I=, DC3, C-47, DCB,ELECTRA Ll66C. E0E1NO 727. VIP PILCYY. CHARTERS,AIAUFT,MEDEVAC, SEARCH&REBCUE,EXTENSIVEFLIQHT OpERATlONS THROUGHOUT PANAMA ,THE UNITEDSTATES.,CEMRAL& SOUTH AMERICAAN0 THE GARlBBliAN. ~IuMERcIAL 1866 TO 1888 PILOT IN PANAMAAIR FORCE PIG;Wt%G 727, Fn 6 PIG ELECTRAL-186, FORCCIPAANDOTHER COMMEFICIAL AlRUNE IN PANAMA, RP. FE8 1970 -FE8 1971 KARNES,8. A. DAVID,IML AIRPORT PPNAMAREPaOF PANAMA JAN lQ66 -SEP 1907 RUTAGAEREAS PANAMENAB, PANAMA R.P. MAY 1893 -MAY IQ94 6-A. BANU\ INTL AIRWAYS MIAMI,FLUSA SINCE AGO 1994 GEM AVIATION MIAMI,F&USA PA0 1 * F&3DC%,tWlN OTTERS AND PIG CE9SNAS SPECIALCHARTERS FLlGHt OPERATIONS THRCUGHbVT PANAMA,THE CAAIBBEAN, CENTRAL Q SOUTH AMERICA. PILOT IN COMMAND: PM-310 CORPORATE FLIQI-ITC,WEflATIONSTtiROUQttOUT THE US CARIBBEAN, CENTRAL 41SOUTH AMERICA. F0: DC-3 AND C-47, MARTIN 202, CHARTER/ AIU FRllOHT OPERATlbNSTWKh.U3HOUT PANAMA,CENTRAL THE CARtBBEANAND SOUTH AMERICA. FrcT) 00tWb 707. DAILYCARGO FLIGHT OPERATIONSTHROUGHO~ MIAMI,AN0 SOUTH AMEFWX FERRYFUdHTTCWR~ AROUt MB ml& ~OU3A AND IATlN AMERICA. S-95 alzc- ’ RESUME, TUE 10:2@ CfY GFlfEW@Y AUQUSTO VUALAZ ADMIH 2104531 P.02 C. , WO~UMMARY: CONTlNUOlJ8 EMPLOYMENT IN MILITARY APPOINTED POSITIONS, AIR FORCE OOMMANDER lB82 TO 1985 AN0 ALSO AS VICE PRESIDENT, SECRETARY, GENERAL MANAGER AND C%NERAL DIRECTOR OF GOVERNMENT-OWNED CORPORATIONS. PANAMANIAN AIR FORCE RETIRED AS MAYOR IN~OBER, 1991. UCATION: :ADN1862 -DEC 1982 HIQH SCHOOL DIPLOMA, INSTITUTO NAGIONAL PANAMA JAN 1962, FIFIST YEAR, SCtiOOL OF ENGlNEEAlNG UNfVERSlTY OF PANAMA 1962-1963, BRAZILIAN AIR FORCE ACADEMY, AIR FORCE OFFICER PIRASSUNUNOA , SAO PAUL0 BFlAZlL (SIMILARTO USAF ACADEMY). 1983.lQ66, SWAD~ON OFFICER SCHOCX US AIR FORCE UNIVERSITY, AL. 1972, COMMANDANDSTAFF COLLEGE, US ARMY 1981-1982. GROUND SCHOOL AND F/O TRANSITION IN PANAM FLlQtiT ACADEMY FOR 6CXlN(3 707, APRIL 1993 AND MAY 1894. PIC BOEING 727, AVIANCA IN EKXOTA AND PAN AM FLlC3n-rAC;POEMY IN M!AMl 1984,SIMULATOR TRAININQ IN SEATTLE, WASHINQTCIN STATE, FALCON 2OF.TRANSITION TRAININGANP PIG fALCON JET CXNTER TE’TEReORON.J. 1979, Py: ELECTRA L-188 EASTERN ARUNES. PICOHC-8 TWIN OTTER, OE HAVlLLANO CANADA 1969. PIG PA-31 PIPER SCHOOL LOCK HAVEN ,PA 1969. PIG bc88 INAiR FLIQHT SCHOOL, PANAMA 1966, INSTRUMENT INSTRUCTOR PIUIT, US# IS68, PIG C-45 AND C-47 BRAZILIAN AIR FORCE 1066-1861. jWtSONAL DATA: BIRTHDAY JUNE 10.1943 HEIGHT !W. 9lN. (89 INCHES), 178 POUNDS, MARRIEO WITH OIANA H. VILLALAZ 3 CHILDREN, AUQUSTO, IRMA, DIANA USA SOCIAL SECUFllTY lrs779174743, US LEGAL RESIDENT. PASSPORT 8-145-133 ( REPUklC Of PANAMA). FAA ATP CERT. # 24iXQQ5. PANAMANIAN ATP T-2029. pER$O~FERINCES: TO BE SUBMITED UPON REQUEST. PAG 2 . RWUBLICA DE PANAMA OIAE~CION DE AERONAVTICA CIVIL DEPARTAMENTO OE SEWAIDAO AEREA sECC@N OE M(lfDICINA AERONAUTICA CEATIFICADO MEOlCO villalaa, AugurLo 751 N.W. 126 Court Miami, Fla. 33182 VILLALAZr A751 N.W. 126 UXJRT MfAPl’I,FLA 33182 I Pate of ExamlnaUon 08-11-95 ~- Et”;~~~se~at Na I . . I . .. . . MIGUEL COBA VILLARREAL Ncn~mbcr 7. 1995 To obtaina positionas Adation MaintenanceManagerin DHL ORJErlwE: Aeroexprcss. EXPERIENCE: Feb95-F’resent SystemRegionalQualityControl~Manager Latin knerica DHL Pwama.PanamaCity, Panama Vid andsup&sad networkstations.Insuredthatmai&nance systemsandprocedures muetbigbeststandards of rcliabi&yandair safetyin accord8nce with NatiomMntemational Gowmmenti regulations. Dee90-Feb9S AviationMa,intenancc A4Amger DHL Panama.Pztnama city, Pan8ma Directed,controlledm&wancc operationsduringtechnicalstops in PanamaHub. Supwised QuickEngineChangesin PTY and othernetworkstations.Insuredthatall maintenance activitiesmeet thohighestkveb of air safetyandreliabilityin accordance with local civil aeronautic authmitios. mg 88- act 90 CN 235 CASA NurtanioFlight Engino= Pananw&n Air Forcu,Panama Performedflight engineerdutiesapproximately 800 hours Jan 85-h Boeing 737 LineMainten~~~Technician 89 Panamaaiarr .GrForce,Panama Parfonntdlinemaintenace dutiesinvohingBoeing727-100. Wo&d 0x1JT8D7B enginechangeaswell as A & B krspections hut 850Dee86 Line MaintcnsnceTechnicisn Panama&~Air Force, Panama Performed5x1~ m&cnanct dutiesinvohringL-188Electra. Jltn84-Jui84 Line and htennodiate Machanic Panamanian &r Force,Pawna workedon lint ntaitttcnance invohiry skpn Sotiesm. GuIfhream Commander690and 1000. ,MIGUEL COBA VILLARREAL Jan 82-Jan85 Ltad Maintenance ‘I’e&nkan Supervised maintenance operzttions,aircraftmintcnanceprom andpcrsonncl.CIperation involvedthreeCASAAVIOCUi C-212200. JanIll-Jan 82 Line klaintenanceandCrewChief Pananu&n Air Forct, PaIuIxu Supcnisclinemaintenance duties imulving DHC-6s&s 300Twin Otto Jun 77- Fcb79 June23.94 May 29,92 MetroITISystemFamilUzation School FairchildA&aft Incorporated Duration:15* Fcb 21.92 Falcon20 General,Maintenanco AimonIntemational Duration:15day June 28,91 cF700 EngineHot scdoll InspectionTxirling f3au3ralElectric Dluadon: Aug. 3, 88 7 ditys CN-235Famkiuion Tkuing CASA. Machid,Spain Duration: 30 days May 19, 85 Boeing 727 Elecuic& Instruments & AvionicsFamikizition COWS IsraelAiarcdt lnduatriC% Ltd krael Duration: 30 days --_ --c-- z ----- --- _ MIGUEL COBA VILLAREAL Aug 13,82 TPE331Intcrmedilrte.Maintenance Gamt TurbitwEn&e Compmy Phoe& &iaxu Duration:14day6 July30, 82 TPE331Line MaiIltcrunce Garm TurbineIkgine Company PheDuratbn: 14 dayr Dee18.80 %lOCJUliCOdUFuerurAema Argenlim. Cordobq ~rgcntina Duration:2 yean Aug 26, 77 Mocal7icode Keli~tcros &~Intuwn&ana&lasF~Asnas LonaddcanaideP8nama Duration:4 madha LICENSE: 2431426A&P (FAA) 329TYPE 1 (Paxumalb Civil Aviation) RwEREscES: Availableuponl-oqlost c UM CURRZCUL VTTAE NAME: FABIO DATE OF BIRTH: September PLACE OF BIRTH: Sona. Prov. AGE: 36 I.D. NUMBER: 9-101-2687 NO. OF DEPSNDENTS: 3 NATIONALITY: Panamanian MARITAL STATUS: Handed LANGUAGES: Spanish - EngLish HEAL TX: Excellent En UclA AROSEMENA C. 16, 1957 Veraguas, Panama T.TON Mipud Alba Cohqtio Javier Sona, Prov. Vuaguw Panama Cdcatm from Elmmantuy SchooJ Certificate from High School Institute Bachelor Escuela Form& Naudeau Vniversidad National do Panama Aviation in sdcnce and Lettis 2 year8 in Law Sohod Academy and Powerplant Hachaaics Course, Ciear water, Florida, * ’ U.S.,% j.!YDO Of s md Power&& Heck Airframe Federal A vi&ion Administration, U.S.A. Airframe and Power&ant Mechanic. Dire&on G&ual de Aeronautic& Civil Licetare of Tm fisv Ball Training Dallas, Texw, U.S.A., 2068 ?%ld Federal AvWon Admibtrathm the United Staw of Amanka, Jicanse issued izrf ka F.&.,&, Center in J&x& Bell tatinoamerica Panama, MAGNAFIdUUiUB Bell Latinoamuioa Panama, mL0 VARIG, Brad Course PANAM, course M&BUS A-300 (AVfON’ U.S.A. 1961,lJd2 located at Avdda * 196.3 - I owned Balboa an Automobile in Panama trpininP G-8-767 rep& and performed Ukop Tder nrmed general automotie 1986 - TOCHISA - working aa mechanic of Automotive motorcycles, au tomobfka, motorboats, etc. 1986-1987 -BELL LATINOAMWCA (PANAMA) &A. Hdicoptorr, Bell 206B, Hughu, Ed 47, etc. Hagndlux Opuatfons. turbine overhauls. etc. . of ~orJcing Vehiclu as B-8 repairs. such as Huchdc of 1987 to data - SETRACASA - Working me&an f c. Cup. Aulio ifernandez, as an airframe Private Pilot, Telephone: 26-7199 Cap. Donaldo WiUiams, Pn’vate Pilot, T&phone: Lie, Luis A. Durling, Lawyer, Durling AU curriculum Date: and po warplan t of the corresponding for reference. 6 burring, documentation Signaturw 33-4746 Td: has 63-3244 been attached to this Exhibit DAE PR-6 Page 1 of 1 January 26, 1996 FAA-Certified To Be Utilized Repair Stations by DHL Aero Expreso PMS Miami International Airport NW 36th Street, Bldg #63 Miami, FL 33152 PSA Miami International 4200 NW 36th Street Miami, FL 33152 COPESA Aeropuerto Alajuela, Airport International Costa Rica TRAMCO 11323 30th Ave W. Paine Everett, WA 98204 DHL Aero Expreso Juan Santamaria Field may use other FAA-certified repair stations. Exhibit DAE PR-7 Page 1 of 4 January 26, 1996 DHL Aero Expreso, S. A. Reportand BalanceSheet August21,1995 Price W6zterhouse Report of Independent Accountante August 21,1995 To the Board of Directors and Shareholders of DHL Aero Expreso, S. A. In our opinion, the accompanying balance sheet present fairly, in alI material respects, the financial position of DHL Aero Expreso, S. A. at August 21, 1995, in conformity with generally accepted accounting principles in the Republic of Panama. This financial statement is the responsibility of the Company’s management; our responsibility is to express an opinion on this financial statements based on our audit. We conducted our audit of this statement in accordance with generally accepted auditing standards which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audit provide a reasonable basis for the opinion expressed above. DHL Aero Expreso,S. A. BalanceSheet August21,1995 Assets Cash Liabilities and Shareholders’ Liabilities Accounts payable - other US% 300.504 US$ 500 Equity. Shareholders’ equity Common stock without par value - 500 shares authorized and outstanding 3oo.ooQ US% 300.504 DHLAeroExpreso,S. A. Notesto BalanceSheet August21,1995 1. Organization The Company was incorporated in the Republic of Panama in June 1987 under the name of Latin Aviation Management Services Company Inc., and had been inactive since that date. In February 1995 the company changed its name to DHL Aero Expreso, S. A. Its main activity will consist in providing international cargo and world-wide express delivery services. The company is in the process of obtaining an explotation’s certificate from the Direction de Aeronautica Civil of Panama. 2. Currency The balance sheet is expressed in United States of America dollar. The legal currency of the Republic of Panama is the balboa. The balboa is, and has been since prior to the inception of the Company, at par value with the United States of America dollar. . _. DHL AERO EXPRESO DHL Aero Expreso PRO-FORMA PROFIT AND LOSS STATEMENT ALL DATA FOR ROUND TRIP ROUND TRIPS PER MONTH 21 21 22 22 23 20 23 22 21 23 21 21 JAN 1.140.271 FEE 1,140.271 MAR 1.194.570 APR 1.194.570 MAY 1.248,869 JUN 1.085,973 JUL 1.240.869 AUG SEP OCT NOV DEC 331,691 349.738 412,201 399,405 146,763 234.820 322,878 401.896 478,454 584.558 135.159 801,301 LOAD FACTORS 41 96% 51 26% 61 54% 67.08% REVENUES 488,820 400,820 501,976 COSTS DIRECT PIDAY 54,299 CAPACITY kgs EXPRESS FREIGHT AIR FREIGHT TOTAL kgs kgs - KGS LIFTED OPERATING - 370,928 1,194.570 1.140,271 1.240,069 1.140.271 1,140,271 260 YEAR 14.1 17.647 374,229 391,773 383.136 417,967 479.277 478.297 516,783 463,239 455.358 466,306 452.744 483,820 589,658 527,366 5.010.855 837.468 847,131 849,442 870,711 963,097 l.O67,955 1.044,149 9.916.360 67.02% 77.12% 67.83% 71.11% 76.36% 77 12% 93 66% 91.57% 70 24% 501,976 515,130 475,666 515,130 501,976 488.820 515,130 488.020 400.020 5.97 1.003 ,, m..M6.0~8 838.936 4.905.505 187,409 107.409 196,334 196,334 205.258 178.485 205,258 196,334 187.409 205.258 187.409 187,409 2.320.306 MAINT I BACKUP 75,684 75,684 79.208 79.288 82.892 72.080 82.892 79.288 75,684 82.892 75.684 75.604 937.040 SALARIES 60,675 60,675 60,675 60.675 60,675 60.675 60.675 60,675 60,675 60.675 60,675 60,675 720,100 5.986 5.986 5,986 5,986 5,986 5.986 5,986 5.986 5,986 5,986 5,986 5,906 71,832 86.905 06,905 86.905 86,905 86.905 88.905 86.905 86.QO5 86.905 88,905 86.905 86,905 1.042.860 48.884 465,543 48,884 465,543 48.88~ 478,072 40,aeq 478,072 48,884 490,800 .48.884 453.015 4&Sa4 490,600 48,884 478,072 48,884 465,543 48.884 490,600 48,884 465,543 48,884 465,543 586.608 5.606.746 23,277 23,277 23,904 23,904 24,530 22,651 24,530 23,904 23.277 24,530 23,277 23,277 204,337 I TRAINING GRD EQUIP/PARTS INSUR I OWNERSHIP HUB 1 STATION TOTAL OPERATING OPERATING REVENUE PROFIT PER KILO COST PER KILO PROFIT PER KILO CON 1.02 0 84 0 68 0 63 062 0 57 0 61 0.59 0.56 0.53 0 46 047 060 0.97 0.05 0 80 0 04 0 65 0.03 0 60 0 03 0.59 0.03 0.54 0.03 0.58 0.03 0.58 0.03 0.53 0.03 0 51 0 03 044 0 02 045 0 02 0 57 0 03 39 r (c3 us-u y;-~w*hc(Vv AGREEMENT The undersigned crrricrr (hcrvin~llcr rclcrrcd 10 ;t\ WI(: (‘rrricrs”) _ _ hereby agree ps I’oIIow~: Exhibit DAE PR-9 Page 1 of 1 January 26, 1996 .. I. E?(ch of the Carriers rhrll. cffcctivc May 16, lYf&. include the fdllowinl in itrL&d~li& 1 eluding trnfls cmhvdying conditions 01 carri& filed hy i! wrlh any eovcrnmcnt:.-. ~ ~,f~r;r~qc: in. “Tht Carrier shall rvril itself of the limit8tion of liability prociidc(l In ihc C&vent&m fur the (InlIi~~llcrn 01 certain Rule Rclatina to lnternrtiunrl Crrriac by Air s ned 8t W8rJtw October 121h, IY~Y. of firdvtdcd’ rn the nid Convention 8s rmcndcd by the Protdcal tl@(ld I‘p‘9’6~ha@ Scptcmbe! 28th. 1~55. However. ill accordancewith Article 22f I ) of uid Corivcntion; or aid Coci@fitibn #s amCitdcll by &id Protucol. the Carrlcr rlrccr that. as to 811intcrnrtionrl trmspottltkn by the C8tricr 8s denned in thC uid CcihWrihbri w said Convention IS rmcndcd by uid Protocol. which. 8ccordjna to the &fr;ltt bfC8rrjree. includes 8,point In the United Strtrs of Amcricr 8s 8 point of ori@t. point of d&it&&t, dr &r&cd stopping pltce ,I 1I j The limit uf llrbility for crch p8ss&n@rfor derth, uoun#ng, ot other bodily injury shill he the sum of US 575.000 Inclusive bf Ie(rl fHs and cd$tO,exdpt thu. in t&se of 4 claim brought in P State whcrc provision is mrdc for s&prrrte rwwd ef I&@ fees 8nd cdsts. tht limit shall hc tlrc XIIII~ .I of US fS11.000cxclustvc of lqrl fees md costt. 13 The Carrier shall not. with respect to my claim rrisln# out of the tMth. &ndln$. or other )Hidily injury of 8 prsscnpr, rvril itself of my d&fens8under Artic!t 20( I ) of said Cotlvcatio,ct c*r (iuid Convc.nticm 8s 8mcndcd by said Protocol. .. i .f Naihing her frV”H8lI b;;dcenrcd to rffcct the rights md IhbUities of the Carrier with rcgrrd to mv &IIIII hrljught by, on bcfni’ 1 $f. or in respect of any person who hts willfully cruod damaBewhich rcsulrcd in Jcarh. wetunding. or uthct btidily ihjury of I p~ucnger.” 2. t-.rch Carrier shall. &the time 4 dcljvcry of the ticket. furnish to crch ptssen8cr whose tronspurtation is governed hy the Convent&m. or the Convention cs rmcndcd by the Hylc Protocol. rnd by the special contract dcscrrhcd in p8rrgraph I. the following notice, which shall be printed in type 8t lerst 8s hat u IO paint modern type and in ink cunlrrstine with the stuck on (il each tickct:(ll) 8 piece of p8pcr either plrced in the ticket envelope with the ticket or attached 11)the ticket: or (iii) on the ticket envelope: “ADVITE TO INTlzRHATIONAl. PAS’3ENCERON’LIMITATION OF LJABILITY ‘,I Pahticrpcrson a journey mvolving an ultimate destination or 8 sto$ in 8 country other than the country 41fcsrlpmarc advised that the prc;visions of a trcrty known 8s the Weaw Conbcntion may hc appkahlc III the cnttrc’juctrncy. mcludmg my portion cntucly witbin the country of ori@ or destinrtlon. For such passengcrr WI J ~ourt~cylo. from. or with rn agreed stopping plarc in tht United Strtes of Americr. the Convention and ~pcwl ccmtracts 01 crrria#c cmhudicd in rpplicahlc tariffs pmvidC that th& liihility of 0 Icertain I( name of carrier) and ccrtiin other I crrricrr partics to such spcciil contncts fur death uf or pcrwnal injury ltr pusscngcn is limited in IWJSIc8scsto pruven damagesnot to &xc&d US f75.000 per pruenacr. and that this lirhrlity up tu such limit shtll not depend on ncgli#enceon the part of the tirrkr. For such nasscnljcrslravcling hv r carrier not 8 p8rty to such specirl cuntracts nr on a journey hot td, from, or hrvin& tn tgrccd sloppiW pl& in the United States of America. lirbility of the carrier for death or personal injury 10 prtiengcrs is limrtcd in nrosl c8sesto rpproximrtcly US 5 IO.M10or US S20,ooO. The nrmcs of C8rrkcn pirtks to such specirl contr8cts IN rvail8ble it 811tlcktt ofllces of such carriers and may be cxunincd on rqucst. Addition81 prottction GUI usutlly bc obtrtntd by @tasin# itisurancC from a private company. Such in.uranLz is not rffected by my limit8tion of the carrier s liability under the W~rrv Convtntion or such spr;cz~icontracts of crrriig. For further infotmrtion pltuc consult your 8ifiittt or trrsurancecompany rrpr.scntativc.” 1 [Tlu* Agrcctilcnt was filed with the Civil Aeronrutics Board of the United Strtes. Tht Board approved it by Qc:i*:r L-3~0. adopted May 13.1966. The Agreement (Agreement 16900) bccunc effective M8y 16.1966. On Jm~wy I. IUBS. thn Agreement hecrmc the responsibility of the Deprrtment uf Trrnsportrtion (DOT) by npcrrtion 01 law.1 4. ~j~js Agrccmcnt m8y be signed in 8ny number of counterpxtts. rll of which shill constttute one Atitrecmcnt At~y C8rricr may become a prrty to this Ayccment by signin8 8 countcrprrt hereof rnd depositin it with DOT. 5. Any Carncr party hcrcto may withdraw from this &ecmcnt by giving twclrf f 12) montES’ written notice 181withdrawal to DOT and the uther C8rriers prrtks to the *Either rltcrnatjvc mry be used. president DHL Aero Espreso, S.A. , CERTIFICATE OF SERVICE I hereby certify that on the 26th day of January, 1996, notice for a of the foregoing Application of DHL Aero Expreso, S.A., Foreign Air Carrier Permit, as required by 14 CFR §302.1705(a), was served by first class mail, postage prepaid, upon the following service list. R. Tenne ohnson Suzette Matthews, Esq. Bernstein & Matthews 5649 John Barton Payne Road Marshall VA 22115 (Aerial Transit/Millon Air) Robert P. Silverberg, Esq. Silverberg Bagileo, Klein, 1101 30th Street, NW, #120 Washington DC 20007 (ABX Air/Mark Air) Carl Nelson, Esq. American Airlines 1101 17th Street, NW, #600 Washington DC 20036 (also Executive Airlines) George D. Novak, II, Esq. Galland, Kharasch, Morse & Garfinkle 1054 31st Street, NW Washington DC 20007 (MGM Grand Air) Mark Atwood, Esq. Galland, Kharasch, Morse 61 Garfinkle 1054 31st Street, NW Washington DC 20007 (American International) Pierre Murphy, Esq. One Westin Center, #260 2445 M Street, NW Washington DC 20037 (Southern Air Transport) John L. Richardson, Esq. Seeger Potter Richardson Joselow & Brooks 2121 K Street, NW #760 Washington DC 20037 (Amerijet International) Nathaniel P. Breed, Esq. Shaw, Pittman, Potts & Trowbridge 2300 N Street, NW Washington DC 20037 (Federal Express) Luxton Allan W. Markham, Esq. 2733 36th Street, NW Washington DC 20007 (Arrow Air) Herbert A. 1050 17th Washington (Transair William Callaway, Esq. Zuckert, Scoutt & Rasenberger 888 17th Street, NW, ~#600 Washington DC 20006 (Challenge Air Cargo) David L. Vaughn, Esq. Drye & Warren Kelley, 1200 19th Street, NW #500 Washington DC 20036 (United Parcel Service) R. Bruce Keiner, Jr., Esq. Crowell & Moring 1001 Pennsylvania Ave., NW Washington DC 20004 (Continental Airlines) Vance Fort, Esq. WorldCorp, Inc. 13873 Park Center Herndon VA 22071 (World/Key) Rosenthal, Esq. Street, NW, #1200 DC 20036 Link) Road, #490 -2Richard Taylor, Esq. Steptoe t Johnson 1330 Connecticut Avenue, Washington DC 20036 (Evergreen/Wrangler) NW Jeffrey N. Shane, Esq. Wilmer, Cutler & Pickering 2445 M Street, NW Washington DC 20037-1420 (Fine Airlines) Jeffrey Manley, Esq. Ginsburg, Feldman & Bress 1250 Connecticut Avenue, NW Washington DC 20036-1795 (United Air Lines) Robert E. Cohn, Esq. Shaw, Pittman, Potts Trowbridge 2300 N Street, NW Washington DC 20037 (Delta Airlines) Robert N. Duggan, Esq. Mercer, Moore & Associates Suite 500 700 S. Royal Poinciana Blvd. Miami Springs FL 33166 (Carnival Air Lines) William G. Doherty American Trans Air, Inc. P.O. Box 51609 Indianapolis IN 46251-0609 James W. Tello, Esq. Filler, Weller & Tello 117 North Henry Street Alexandria VA 22314 (Miami Air International) Jim J. Marquez, Esq. McNair C Sanford, P.A. 1155 15th Street, NW, #400 Washington DC 20005 (Private Jet Expeditions) Gary Garofalo, Esq. Boros & Garofalo 1255 23rd Street, NW Washington DC 20037 (Rich International) David Kirstein, Esq. Beckman &I Kirstein 2300 N Street, NW, #725 Washington DC 20037 (North American Airlines) Allan I. Mendelsohn, Esq. Mendelsohn & Szymkowicz 1201 Pennsylanvia Ave., 5th Floor Washington DC 20004-2401 (Florida West) Executive Director for System Operations, AXO-1 Federal Aviation Administration 800 Independence, SW, Rm 7222 D. C. 20591 Washington, Stephen Gelband, Esq. Hewes, Morella, Gelband and Lamberton 1000 Potomac Street, NW Washington, D.C. 20007 (Tower Air) Robert Rose Buffalo Airways 301 East 51st Street Kansas City MO 64112 Alfred J. Eichenlaub, Esq. Ginsberg, Feldman & Bress 1250 Connecticut Ave., NW #800 Washington DC 20036 (Polar Air Cargo) H.E. Ricardo Albert0 Arias Ambassador of the Republic of Panama 2862 McGill Terrace, NW Washington DC 200 t