market report - Saab Aircraft Leasing
Transcription
market report - Saab Aircraft Leasing
Issue 20 OCTOBER 2008 MARKET REPORT A PUBLICATION OF SAAB AIRCRAFT LEASING ESTONIAN AIR’S SAAB 340s FEED SAS SYSTEM OLT CELEBRATES 50TH ANNIVERSARY SAAB 340 FLIES EXECUTIVE-STYLE MESSAGE FROM Michael Magnusson CONTENTS The last six months have yet again shown how difficult it is to make any predictions in this industry. Towards the end of last year, most airlines were looking forward to 2008 with confidence. IATA was predicting a nice profit. Oil was hovering around $90/barrel. The $100 number seemed far away. Estonian Air Saab 340s work with Boeing 737s for SAS Connect Service . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Then as 2008 began, oil started its rapid climb. The industry watched in horror as it peaked around $145/barrel after just six months. Panic started spreading around many boardrooms. Predictions and business plans for 2008 were thrown out the window. Airline managers began saying this was worse than September 11. IATA revised its forecast on a monthly basis and was soon talking about billion dollar losses. Something had to be done, the business model was broken. The legacy airlines in the US made their decision, initiated by American Airlines. They would cut capacity 10-12 percent by the end of 2008 and park many aircraft, mostly older equipment. A few decided to accelerate deliveries of new fuel-efficient aircraft. Europe was affected to a lesser degree as it was partially shielded by the decline of the US dollar. One interesting result was low fare airlines were affected to a greater extent due to fuel being a much higher proportion of their expenses, reaching almost half. For legacy airlines it became the largest expense, hovering around 35 percent. Air Åland and Avitrans Nordic work together to provide Finland/Sweden service . . . . . . . . . . . . . . . . . . . 5 Saab 2000 simulator moves to Oxford Aviation Academy . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Darwin Airline supports Euro 2008 . . . . . . . . . . . . . . . . . . . 7 OLT celebrates 50th anniversary. . . . . . . . . . . . . . . . . . . . . 8 Saab 2000 AEW&C on display at Farnborough . . . . . . . . . 8 Saab 340 executive aircraft round-up. . . . . . . . . . . . . . . . . 9 SAL’s Michael Magnusson assesses used turboprop market. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Saab Destinations: Dalanzadgad Airport . . . . . . . . . . . . . . 11 Saab operators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 This, of course, soon impacted regional airlines as well. In the US, a few legacy airlines began cancelling contracts for capacity buys, some ended up arguing in court. Suddenly everyone had too many 50-seat regional jets. It is now forecast over 200 of these RJs will become surplus in the US over the next few years. A Delta executive referred to these RJs as the “SUV in the air with the highest fuel consumption per seat basis.” This was bound to have an impact at Saab as well. American Eagle was forced to cut capacity and obviously chose the smallest aircraft in its fleet: the Saab 340 and E-135. They have 27 Saab 340Bs in service, which will be parked during the rest of 2008 and early 2009. They have already sold a few. As supply of Saab 340Bs is tight, this move by AMR Eagle will be appreciated by those seeking a fuel-efficient, 30-seat aircraft with excellent customer support. This shows, yet again, the need to be flexible and pick the right equipment. Most Saab operators appreciated its low fuel burn when oil prices were soaring. The very fuel-efficient GE engine came through again as a good benefit to the Saab 340. Who knows where oil prices will stabilize? Currently oil is $110/barrel. With this level and a fuel-efficient aircraft, the business model works with the Saab 340. Many of our customers are showing this in their numbers. One, OLT in Germany, is celebrating its 50th anniversary, and they have flown the Saab 340 nine out of those 50 years. (See related story on page 8.) Rex posted another profitable year with its all Saab 340 fleet. Over the next few months we will be participating in a couple of events, namely the Saab 340 Global Operators’ Conference in Florida and the ERA General Assembly in Manchester. The Saab 340 Global Operators’ Conference is looking to be another great event organized by Saab Aerotech. I urge all Saab 340 operators to attend. We have a good time as we exchange experience in the type. See you there! COVER PHOTO: Estonian Air feeds the Scandinavian Airlines System via Stockholm, Oslo and Copenhagen with two Saab 340s and six Boeing 737s. Cover photo by Eryl Crump BELOW: OLT, Germany’s second oldest airline, hosted a special 50th anniversary party at the airline’s Emden base. The Saab 340 can provide a reliable and economical transport for business executives in stylish comfort. Market Report is published by Saab Aircraft Leasing Editor: Kelly Murphy Emerald Media kelly@emeraldmediaus.com Europe: Alison Chambers Emerald Media alison@emeraldmedia.co.uk Design and Layout: Aeris Graphic Design jennifer@aerisgraphicdesign.com Michael Magnusson President and CEO, Saab Aircraft Leasing Printed in USA October 2008 ©2008 Saab Aircraft MARKET REPORT ESTONIAN AIR SAAB 340s WORK WITH BOEING 737s FOR SAS CONNECT SERVICE Story and photos by Eryl Crump Estonian Air has increased its cost-effective regional air service since the introduction of two Saab 340s last fall. The national airline of Estonia, the Tallinn-based airline feeds into the Scandinavian Airlines System (SAS) network via Stockholm, Oslo and Copenhagen with a fleet of six Boeing 737-500s and two Saab 340s. operated with one service class with the service level depending on the destination. Flights from Tallinn to Vilnius and from Kuressaare to Stockholm includes a meal service, while flights from Tallinn to Helsinki and Kuressaare offer beverages only due to the short flight time.” Operating as Estonian Air Regional, a wholly-owned subsidiary company with its own AOC and Operators License, the 33-seaters are servicing Estonian Air flights between Tallinn-Helsinki, Tallinn-Vilnius, Tallinn-Minsk, Tallinn-Stockholm and Kuressaare-Stockholm. Kalda notes the schedule (to Helsinki, Vilnius and Stockholm) has been designed to meet the demand of the Estonian market, by offering an early morning departure from Tallinn together with an evening return flight. Flights from Tallinn to Kuressaare and from Kuressaare to Stockholm are operated twice a week, enabling both longer spa holidays and weekend breaks. “They are proving to be very successful and have increased our regional service very efficiently and cost effectively,” he adds. Estonian Air Vice President-Operations Rait Kalda tells Saab Market Report, “By introducing the Saab 340 into the existing fleet of Boeing 737s, Estonian Air hopes to capture and develop the growing demand for air travel between Estonia and our neighboring regions. The aircraft has a comfortable cabin with leather seats. All flights are Market Report | October 2008 Initially the aircraft were operated by Swedish airline Golden Air. 3 MARKET REPORT Kalda underlines “Until finalizing necessary documents, Golden Air operated the flights instead of Estonian Air Regional, but the service on board was according to Estonian Air standard.” On March 6, 2008 Estonian Air Regional received the air carrier’s Operating License from the Estonian Ministry of Economic Affairs and Communications and the Air Operator Certificate (AOC) from Estonian Civil Aviation Administration. “This made it possible to enter the Saab 340 aircraft into the Estonian aircraft registry. Having our own AOC and Operating License simplifies running of the company and make the operations even more effective,” adds Kalda. In the first eight months of 2008, Estonian Air carried 483,875 passengers, a 10.3% increase year-on-year. In August, Estonian Air flew 73,335 passengers, a 1% increase year-on-year despite the drop in charter operations. 4 Government beginnings... Estonian Air was established and started operations on December 1, 1991, shortly after Estonia reacquired independence. It was founded by the Estonian government with aircraft acquired from the defunct local Aeroflot Division and was partially privatized five years later. The privatization allowed the acquisition of Boeing 737-500s to replace its old Soviet planes. The first two arrived in 1995 and by the following year, after obtaining more of the Western-built aircraft, it was able to retire the Soviet fleet entirely. The airline now operates six of the type and next spring will introduce two new Bombardier CRJ900NG aircraft. Estonian Air has strong links with SAS. It operates frequent flights to SAS hubs – the airline boasts “Well connected with SAS” status and the airline’s frequent flyer program is SAS’ EuroBonus scheme. Market Report | October 2008 MARKET REPORT AIR ÅLAND AND AVITRANS NORDIC WORK TOGETHER TO PROVIDE FINLAND/ SWEDEN SERVICE Story and photos by Eryl Crump Flights to the beautiful Åland islands, an archipelago that stretches from the Finnish coast southwest towards Sweden, are flown by a new operator. Avitrans Nordic AB, which already operates air traffic with Saab 340 for several airlines, began flying from Mariehamn to Helsinki and Stockholm for Air Åland on August 11. Two Avitrans Saab 340s are based at Mariehamn for the flights. Avitrans Nordic President Mikael Wångdahl says, “We are delighted that Air Åland chose Avitrans Nordic as a supplier and look forward to working with them. This expansion of activities is part of our long-term strategy to establish operations in Finland. Avitrans has the right aircraft and the competence to be a part of Air Åland continued service development. Air Åland CEO Jörgen Gustafsson adds, “We have a new long-term supplier with Avitrans Nordic. The combination of Avitrans Nordic and Air Åland looks exciting for the future. This gives us a platform for the company’s future development that no other operator could offer. The synergies that exist will make us stronger in the market and be able to strengthen our customer focus, which is a goal for the future.” Operations started on October 29, 2005. Air Åland operates scheduled services from Åland to Helsinki four times a day and twice each weekday to Stockholm. The beautiful Åland Islands Air Åland is the provincial airline of the islands and is based in Mariehamn, the archipelago’s only airport. The airline was founded on January 14, 2005 with a broad base of owners within the trade and business of the Åland islands. The goal of the owners is to maintain air traffic with good quality for a low price to mainland Finland and Sweden. Market Report | October 2008 5 MARKET REPORT Air Åland AB was created in 2005 Gustafsson tells Saab Market Report discussions on starting an Ålandbased airline company have been ongoing for a long time. “A regular air traffic service both west- and eastwards is vital for the competitiveness and development of Åland economy. Thus, the company Flyg & Far Åland AB, later Air Åland AB, was founded in January 2005. The shareholders include 24 companies and four private investors. The overall goal of the owners is to maintain and secure air traffic based on local requirements, reasonable prices and to contribute to the development of the local trade and the core businesses. “The first flights were to Helsinki, and on March 13, 2006 the traffic was started between Mariehamn and Stockholm-Arlanda,” he notes. Last year the airline carried about 60,000 passengers on its scheduled flights. Charter flights from the islands to the mainland and further afield were also carried out. 6 Until August the airline’s operations were carried out by UAB Avion Express, previously Nordic Solution Air Services. The new name was adopted in January when Icelandic company Avion Aircraft Trading purchased the company. Avitrans Nordic has also taken over flying operations for Wingo Express. The company was founded in 2007 and is owned by the Swedish Tamares Holding Sweden AB and Scanproducts Ltd, in addition to the Finnish Oy Touch N´ Go AB and Eriksson Capital AB. Wingo Express began operating a twice-weekday service between Turku and Tampere in southern Finland to Oulu in the north in January 2008 with a Saab 340 operated by UAB Avion Express. It has carried about 20,000 passengers on the service which links three important business centers – Tampere is the nearest airport to the town of Nokia, the mobile phone manufacturing company. Market Report | October 2008 MARKET REPORT SAAB 2000 SIMULATOR MOVES TO OXFORD AVIATION ACADEMY A Saab 2000 simulator, formerly used by Crossair in Basle, Switzerland, recently joined a Saab 340 simulator among 12 full flight simulators at the Oxford Aviation Academy (OAA) in Stockholm, Sweden. OAA recently acquired General Flying Services, a leading ab initio airline pilot training program in Australia. The acquisition, backed by STAR Capital Partners, is a key strategic addition to the Group’s Aviation Training-Ab Initio division which also comprises the former Oxford Aviation Training, one of the world’s largest and most respected airline pilot training school. The Group was created in February 2007 through the US$275 million merger of GE Commercial Aviation Training and SAS Flight Academy, followed by the BAE Training Center in Manchester, UK. In addition, Par Aviation was recently acquired, adding aviation resourcing to the Group portfolio. DARWIN AIRLINE SUPPORTS EURO 2008 Darwin Airline flew 20 flights in support of the Euro 2008 soccer tournament held in Switzerland and Austria in June. The Lugano-based regional airline formed a partnership with the football associations of Germany and Sweden who had chosen the town of Ticino as their base for the championships. A Saab 2000 was used to fly the team, their support staff and officials from Lugano to Vienna, Basel, Innsbruck, Salzburg and Klagenfurt where their matches were played. All four of the airline’s aircraft were adorned with a special logo for the three-week long tournament. The final flight was made on June 27 when the German team was flown to Vienna for the final. In an exciting match, the Spanish national team emerged victorious. Market Report | October 2008 Darwin Airline Charter and Sales Network Manager Barbara Strub says: “Darwin Airline is not new to this type of service. We have hosted on board several teams, both national and international, confirming we are able to please customers seeking a particular type of treatment and adapted to their needs.” 7 MARKET REPORT OLT CELEBRATES 50TH ANNIVERSARY on September 12. fleet reflects the nature of operations. At the same time, while we are a small airline, we operate on a much broader level through key strategic partnerships with bigger airlines – SAS, Malev, Icelandair and SN Brussels.” OLT was founded in 1958 at Emden and is owned by two shipping companies, Reederei Agems (74.9%) and FLN Frisia Luftverkehr (Reederei Norden-Frisia) (25.1%). Initially, the airline operated air taxi flights to islands in the North Sea. Services were expanded to charter flights within Europe and in 1991 to scheduled services on domestic regional routes from Bremen. Co-Managing Director Dr. Berhard Brons adds: “Over the past 50 years our company’s success has been based on the fact that OLT has always paid attention to customer demand and, with a great degree of flexibility, has developed promising niche markets. Larger carriers often ignore destinations with regular passenger loads of 20-100 passengers. That’s exactly where our strength lies.” A steady expansion of the regional timetable has continued since 1993, starting with scheduled flights to Bremen-Brussels and Nuremberg. These are now operated by a fleet of Saab 2000s and Saab 340s, assisted by Metroliners and Fokker 100s. The first Saab was introduced in 1999 when the airline was looking for a larger aircraft and was drawn to Saab aircraft because of its superior comfort and strong product support. Germany’s second oldest airline, regional carrier OLT (Ostfriesische Lufttransport GmbH), celebrated its 50th anniversary with a special party at the airline’s Emden base “Niche operations is what we have always been about,” says Managing Director Gerd Weber. “We go to places that other airlines don’t and our SAAB 2000 AEW&C ON DISPLAY AT FARNBOROUGH “From the outset, the aircraft was popular with passengers and it was not long before a bigger aircraft was required as OLT looked to add more international services,” notes Weber. The Saab 2000 ERIEYE™ Airborne Early Warning & Command System (AEW&C) took a brief pause from its successful flight test program to make a debut appearance at the Farnborough International Air Show in July. The flight test program began in April in Linköping and moved to Granada, Spain for the favorable weather and hot and high conditions during the summer prior to arriving at the world’s largest air show. Towards the end of this year, the aircraft will be handed over to Saab Surveillance Systems to implement the systems testing phase of the program. The Saab 2000 AEW&C is an advanced tactical surveillance system. It utilizes the latest generation Active Electronically Scanned Array ERIEYE radar, now capable of detecting small air and sea targets, hovering helicopters and cruise missiles. It has a 450km instrumented range and provides coverage at 20km (65,000 ft) and can effectively survey a 500,000 square meter area and automatically track priority targets. In addition to the AEW&C role, the aircraft can be used for national security and border protection missions, as an airborne command and control for disaster management coordination or emergency air traffic control. 8 Market Report | October 2008 MARKET REPORT SAAB 340 EXECUTIVE AIRCRAFT ROUND-UP by Paul Bryson The Saab 340 executive aircraft has proven to be as dependable airports and delays associated with them, Saab’s quality of reliable and economically attractive as it is with the airlines of today. service and its high level of customer support provides the basis for Whether used for charter contracts to favorite vacation destinations successful operations in the future. Here is an update on a few or in the private sector as a means of bypassing the world’s busier models operating in the US. NAPLETON AVIATION GROUP The executive-configured Saab 340 is one of the most exclusive configurations available. Napleton Aviation Group’s Saab 340A-036 is a prime example of many years of executive service with various operators. In 1985, the APU equipped 036 was first delivered to corporate giant Philip Morris and after several years of faithful service, it moved on to AMP, a global electronic company now known as Tyco, for the balance of the century. Prior to service with Napleton, it flew corporate services for Anglo American, which is a worldwide group of companies involved in natural resources including mining. Aircraft N727DL was purchased by Napleton in late 2003 for use in FAA Part 91 operations (private transport) for the Group. Today the aircraft features a recent interior makeover by Elliott Aviation of Moline, Illinois. Its interior has been updated to current executive standards which include drop down flat screen televisions, leather seats, wet bars, work stations and other select amenities typically found in a corporate aircraft cabin. According to Napleton Director-Operations and Chief Pilot Harold Ebenroth, the aircraft is providing FAA Part 135 charter services in the Chicago area through DB Aviation. IBC AIRWAYS Saab 340A-029 has found a new home with IBC Airways based in Miami, Florida. IBC acquired 340A029 in May of this year, its seventh Saab 340 (the first six are in cargo configuration), and had the aircraft in executive operations by late July. The aircraft was previously with Indiana University for nearly eight years operating as a sports team and executive shuttle. It features a 1+1 configuration with 18 oversized leather seats and an APU. JMJ FLIGHT SERVICES Privately owned Saab 340A-050 of Harmony Investments is operated by JMJ Flight Services based in Virginia Beach and features an updated interior. The aircraft has a unique prop brake allowing the engine to operate while the prop remains still. This gives the operator the ability to use electrical amenities driven by engine power, including air conditioning and cabin lighting while on the ground. JMJ First Officer Tim Miller notes the aircraft is a hard-working asset which is constantly being scheduled for operation. PEGASUS AIR Quite like 340A-036, aircraft 340A-042 has also experienced an extensive overhaul of its interior which was completed by Fort Lauderdale based, PRO Aircraft Interiors. This aircraft flies with Pegasus Air, a private operator for the owners of the Ritz-Carlton in the Cayman Islands. It has undergone extensive interior refurbishments and redesign with STCs in place. Pegasus Air Chief Pilot Tyson Chavez tells Saab Market Report this refurbishment is two years in the making and is well worth the wait. Market Report | October 2008 9 MARKET REPORT SAL’S MICHAEL MAGNUSSON ASSESSES USED TURBOPROP MARKET The current economic environment has set the stage for a market which is “not black and white and one in which aircraft operators sway between RJs and turboprops,” SAL President and CEO Michael Magnusson opined at the recent US Valuation Conference organized by Commercial Aviation Events in Washington, DC. With the supply of used turboprops continuing to decline, Magnusson noted the supply of good Saab 340s is at an all time low. American has begun its planned phase out of 27 Saab 340s and will complete the plan by Spring 2009. These aircraft are already finding new homes. Most recently, two have been delivered to Australian regional MacAir of Queensland. Operational by the end of 2008, MacAir already operates six Saab 340Bs. The total number of flights for the 30- to 50-seat daily departures worldwide are down 6% over the last seven years from 18,000 to 17,000, while the total number of flights has been stable during the same period in North America. (See charts at right) The 70-seat market is “where the action is,” says Magnusson with worldwide departures growing from 1,700 per day to nearly 5,000 daily. In both the passenger and cargo operations, the Saab 340 maintains a leading position in the 30seat market with nearly 40 Saab 340A models used as cargo aircraft. The Saab 340 fleet has passed the 13 million flight hour mark with 414 aircraft flying with 60 operators in 31 countries. The Saab 2000 fleet has flown 1.1 million flight hours with 58 aircraft flying with 13 operators in 11 countries. 30- and 50-seat Turboprops & Regional Jets (Worldwide) Average Daily Departures 10000 Totals 3Q01 (17941) 3Q05 (18888) 3Q02 (17527) 3Q06 (18110) 3Q03 (17749) 3Q07 (17994) 3Q04 (18482) 3Q08 (16926) 8000 6000 4000 2000 - 50% - 17% 30-seat TP 50-seat TP - 29% + 73% 0 30-seat RJ 50-seat RJ 30- and 50-seat Turboprops & Regional Jets (North America) Average Daily Departures 10000 Totals 3Q01 (10303) 3Q05 (11998) 3Q02 (10103) 3Q06 (11258) 3Q03 (10767) 3Q07 (11162) 3Q04 (11623) 3Q08 (10120) 8000 Possible recession trends include the effect on regionals as legacy airlines cut back operations by 10-12 percent and the 50-seat RJ surplus of 200-300 aircraft over the next few years will need to be replaced. “My gut feeling is that used turboprops will be less affected by the recession due to lower operating and capital costs,” he concluded. 10 -8% 6000 4000 2000 - 58% - 47% - 33% +104% 30-seat TP 50-seat TP 30-seat RJ 50-seat RJ 0 Market Report | October 2008 MARKET REPORT SAAB DESTINATIONS Dalanzadgad Special Facts Population: 17,000 inhabitants Average annual rainfall: 15 days = 13cm/5 in by Paul Bryson Currency: Photo: Bill Bilegsaikhan tögrög (pronounced “tugruk”) Located at an altitude of about 1,470m/4,800 ft above sea level, Dalanzadgad Airport is just outside and northeast of the city of Dalanzadgad City, the capital of Umnugobi aimag (province). This airport handled about 19,000 passengers in 2007, and boasts the second largest domestic passenger volume among Mongolian airports. Gurvan-Saikhan, as the airport is known locally, was founded in 1957 and moved into a new terminal in early 2007. Handling 60 passengers in an hour, the airport is equipped with modern telecommunication equipment and aircraft fueling with heating equipment and a GPU is available. The airport provides navigation services to several other airports in the area and most recently the Mongolian government has officially listed DLZ as an international airport. Last year, the new airport received one international flight. Future plans are being developed for immigration and border posts, as well as other services required for inMarket Report | ternational flight handling. There is only one runway available at DLZ (030/210), formerly a grass covered surface, which has recently undergone major improvements including a fresh 2,200 m/7,200 ft asphalt surface and a modern runway lighting system. During the summer season, DLZ makes very good use of the 14-16 hours of intense sunlight by collecting solar power to complement other forms of power. Improvements planned Initially, the DLZ airport offered only a small passenger terminal, with limited facilities for passenger services. But, with the increased activity surrounding the gold and copper mining prospects at nearby Khanbogd, and the need to further develop the tourism industry, the Mongolian Civil Aviation Authority (MCAA) built a new, more pleasing terminal and upgraded its equipment/runway. well as candle and felt factories and wool-washing plants. Because of the number of tourists who visit the area, the town has various camps which engage many of the locals in the tourism industry. considered a starting place for the tourist’s route into the Gobi, scheduled service from the capital is welcomed, because the charters flights will generally arrive from Ulaanbaatar loaded with passengers, but return empty. Eznis Airways, operating three Saab 340Bs (259, 297, 359) has scheduled service into and out of DLZ. During the fourth quarter of 2008, Eznis will offer daily flights to Ulaanbaatar (or Ulan Bator) which is Mongolia’s capital city and also its largest city. Air transportation is the most desired of all travel options, and another popular option, the motorcycle, is slowly replacing the camel and horse. Since Dalanzadgad is typically The Gobi is not as sandy as one might suspect, but instead covered with bare rock. In comparison, Dalanzadgad provides the typical scenery associated with desert-like regions because the town is covered in 50 cm/20 in of sand. Fortunately, the town’s people believe that walking barefoot on the sand is good for the kidneys. Dalanzadgad is a relatively industrialized town with well-developed infrastructure and approximately 17,000 inhabitants. There is a coal-fired powerplant, a publishing house, as October 2008 Photo: Bill Bilegsaikhan Dalanzadgad Airport (ZMDZ/DLZ) 11 MARKET REPORT Operational status Saab 340 414 aircraft in service 60 operators in 31 countries 13.1 million flight hours 14.6 million flights SAAB 340 SAAB 2000 SAAB 340 & 2000 Saab 2000 58 aircraft in service 13 operators in 11 countries 1.1 million flight hours 1.1 million flights (as of July 2008) Operator Country 340 2000 Operator Americas Country 340 2000 Operator Country 340 2000 Europe & Africa Americas 5 SOL Argentina 3 Moldavian Airlines Moldavian Rep USA 53 TAG Guatemala 1 NextJet Sweden 1 Bimini Island Air USA 2 Transwest Air Canada 3 Norse Air South Africa 5 Calm Air Canada 6 Vigo Jet Mexico 1 NRT Gabon 2 Caribair Dominican Rep. 2 Western Air Bahamas 3 OLT Germany 2 Colgan Airways USA Overland Airways Nigeria 1 Corporate Express Canada 1 Air Express Sweden RAF-AVIA Latvia 2 FGI Associates USA 1 Airfast Congo 1 Robin Hood Aviation Austria 2 Ginn Development USA 2 Avion Express Lithuania 3 Ryjet Spain 1 USA 3 Avitrans Nordic Sweden 13 SkyTaxi Poland 1 Solinair Slovenia 3 AeroMexico Connect Mexico American Eagle Hendrick Motorsports R Europe & Africa 40 3 2 IBC Airways USA 7 Carpatair Romania JMJ Flight Services USA 1 Central Connect Airlines Czech Republic 7 South Airlines Ukraine 2 Joe Gibbs Racing USA CTK Network Aviation Ghana 2 Sprint Air Poland 10 Mesaba Airlines USA 49 Darwin Airline Switzerland Swedish Air Force Sweden 9 Murray Aviation USA 1 DOT Lithuania Napleton Aviation Group USA 1 Eastern Airways Great Britain Air Rarotonga Cook Islands 1 Pacific Coastal Airlines Canada 8 Estonian Air Regional Estonia 2 Eznis Airways Mongolia 3 Pegasus Air Cayman Islands 1 Fleet Air Hungary 2 Hokkaido Air System Japan 3 Peninsula Airways USA flyLAL Lithuania 4 Japan Air Commuter Japan 11 Prince Edward Air Canada 1 Golden Air Sweden 9 4 Japan Civil Aviation Bureau Japan Provincial Airlines Canada 2 Kenya Airways Kenya 2 Japan Coast Guard Japan 4 Saint-Ex Mexico 3 Loganair Great Britain MacAir Australia 8 Bahamas 3 Mali Air Express Mali 2 Polet Airlines Russia Mars RK Ukraine 2 Regional Express Australia SkyBahamas 2 10 Saab Aircraft Leasing, Inc. 21300 Ridgetop Circle Sterling, Virginia 20166, USA Tel: +1 703 406 7200 Fax: +1 703 406 7224 www.saabaircraftleasing.com www.saabaircraft.com Saab Aircraft Leasing Postal address: Box 7774, 103 96 Stockholm, Sweden Street address: Sveavägen 17, 11th Floor 111 57 Stockholm, Sweden Tel: +46 8 463 1400 Fax: +46 8 463 1409 12 4 Asia-Pacific 2 6 16 3 Saab Aircraft Leasing 4-7-13-205 Meguro Meguro-ku, Tokyo Japan 153-0063 Tel: +81 3 3792 4300 Fax: +81 3 3792 4315 6 41 Saab Aerotech SE-581 88 Linköping Sweden Tel: +46 13 18 00 00 Fax: +46 13 18 51 15 Saab Aerotech of America, LLC 21300 Ridgetop Circle Sterling, Virginia 20166, USA Tel: +1 703 406 7200 Fax: +1 703 406 7222 Market Report 2 | October 2008