TRADITIONAL

DISTRIBUTION TOOLSDISTRIBUTION TOOLS

Sandrine de SAINT-SAUVEUR – CEO APG INC

Ralph KAISER – CEO UATP

Net Margin of industry: 0.6% vs 1.4% for 2011

Increase in turn-over: +$39 billion

Margins and Growth

2012 Forecast: $636 billion for IATA Airlines

Growth: Double every 12 years – large disparity

Europe: $1.2 billion loss

N. America: $1.9 billion profit

Asia: $2.3 billion profit

2012 Forecast: $4.1 billion profit

2013 Forecast: $7.5 billion profit; increase in traffic +4.5%

Distribution Strategy

TERTIARY

SECONDARYSECONDARY

PRIMARY

HOME

Credit Card Fees

• Visa profit up 45% or US$1.01 billion, Q2 2011

• AmEx profit up 27% to US$1.3 billion, Q2 2011

• Mastercard profit up 14% to US$6.34 billion for 2011• Mastercard profit up 14% to US$6.34 billion for 2011

Q) From where do these billions in profits come from?

A) Airlines Credit Card Costs/Fees are as much asUS$4,000,000,000 + per year

APG Network

VUELING (BSP)

Greenland

Norway

Iceland

Sweden

FinlandRussia

Estonia

Alaska

Brazil

United States

Canada

Mexico

United Kingdom

Ireland

Spain

France

Sweden

Cuba

Italy

Egypt

Germany Poland

Greece

Switzerland

India

Australia

JapanChina

VenezuelaGuyana

SurinameFrench Guiana

Columbia

Ecuador

Peru

Bolivia

Chile

Argentina

Paraguay

Uruguay

Haiti

DominicanRepublicJamaica

PanamaCostaRica

NicaraguaEl Salvador

HondurasBelize

Guatemala

Portugal

Estonia

Austria

Turkey

AlgeriaLibya

Morocco

Czech Rep.

Denmark

Lux.Belgium

Netherlands

Tunisia

Belarus

Ukraine

RomaniaMoldova

Lativia

Bulgaria

HungarySlovakia

Serbia

Russia

Chad

WesternSahara

Mauritania Mali

BurkinaFaso

Israel

Lithuania

Albania

Bos. &Her.

Niger Sudan

Croatia

Cyprus

Jordan

Syria

SenegalThe Gambia

Guinea-Bissau Guinea

Sierra Leone

LiberiaGhana

Togo

BeninNigeria

Cameroon

CentralAfrican Republic

Equatorial Guinea

Gabon

Rep. ofThe Congo

DemocraticRepublic

Of the Congo

Angola

Namibia

South Africa

Eritrea

Ethiopia

SomaliaUgandaKenya

RwandaBurundi

Tanzania

Malawi

Mozambique

Madagascar

Zambia

Botswana

Zimbabwe

SaudiArabia

Iraq

Kuwait

BahrainQatar

United Arab Emirates

Oman

Yemen

Pakistan

AfghanistanIran

Georgia

ArmeniaAzerbaijan

Turkmenistan

Uzbekistan Kyrgyzstan

Tajikistan

KazakhstanMangolia

Nepal Bhutan

Sri Lanka

BangladeshBurma

Thailand

Laos

Cambodia

Vietnam

Taiwan

South Korea

North Korea

Indonesia

Malaysia

Singapore

Brunei

Philippines

PapuaNew Guinea

New Zealand

SolomonIslands

Malta

SwazilandLesotho

East Timor

Ivory Coast

Lebanon

IBCS/AACP Program

• IBCS: Access to 5 BSP Markets» USD 1,000 joining fee

» Variable other costs» Variable other costs

• AACP: Access to ARC» USD 5,000 joining fee

» Variable other costs

APG Network Coverage

DELTA AIRLINES (BSP)

Greenland

Norway

IcelandFinland

Russia

Alaska

Brazil

United States

Canada

Mexico

United Kingdom

Ireland

Spain

France

Norway

Sweden

Finland

Cuba

Italy

Egypt

Germany Poland

Greece

Switzerland

India

Australia

JapanChina

Russia

VenezuelaGuyana

SurinameFrench Guiana

Columbia

Ecuador

Peru

Bolivia

Chile

Argentina

Paraguay

Uruguay

Haiti

DominicanRepublicJamaica

PanamaCostaRica

NicaraguaEl SalvadorHondurasBelizeGuatemala

Portugal

Estonia

Austria

Turkey

AlgeriaLibya

Morocco

Czech Rep.

Denmark

Lux.Belgium

Netherlands

Tunisia

Belarus

Ukraine

RomaniaMoldova

Lativia

Bulgaria

HungarySlovakia

Serbia

Russia

Chad

WesternSahara

Mauritania Mali

BurkinaFaso

Israel

Lithuania

Albania

Bos. &Her.

Niger Sudan

Croatia

Cyprus

Jordan

Syria

SenegalThe Gambia

Guinea-Bissau Guinea

Sierra LeoneLiberia

GhanaTogo

BeninNigeria

Cameroon

CentralAfrican Republic

Equatorial Guinea

Gabon

Rep. ofThe Congo

DemocraticRepublic

Of the Congo

Angola

Namibia

South Africa

Eritrea

Ethiopia

SomaliaUgandaKenya

RwandaBurundi

Tanzania

Malawi

Mozambique

Madagascar

Zambia

Botswana

Zimbabwe

SaudiArabia

Iraq

KuwaitBahrain

QatarUnited Arab Emirates

OmanYemen

Pakistan

AfghanistanIran

Georgia

ArmeniaAzerbaijan

Turkmenistan

Uzbekistan Kyrgyzstan

Tajikistan

KazakhstanMangolia

Nepal Bhutan

Sri Lanka

BangladeshBurma

Thailand

Laos

Cambodia

Vietnam

Taiwan

South Korea

North Korea

Indonesia

Malaysia

SingaporeBrunei

Philippines

PapuaNew Guinea

New Zealand

SolomonIslands

Malta

SwazilandLesotho

East Timor

Ivory Coast

Lebanon

APG Network Coverage

UZBEKISTAN AIRWAYS (BSP- RUSSIA : BSP +TCH)

Greenland

Norway

IcelandFinland

Russia

Alaska

Brazil

United States

Canada

Mexico

United Kingdom

Ireland

Spain

France

Sweden

Cuba

Italy

Egypt

Germany Poland

Greece

Switzerland

India

Australia

JapanChina

VenezuelaGuyana

SurinameFrench Guiana

Columbia

Ecuador

Peru

Bolivia

Chile

Argentina

Paraguay

Uruguay

Haiti

DominicanRepublicJamaica

PanamaCostaRica

NicaraguaEl SalvadorHondurasBelizeGuatemala

Portugal

Estonia

Austria

Turkey

AlgeriaLibya

Morocco

Czech Rep.

Denmark

Lux.Belgium

Netherlands

Tunisia

Belarus

Ukraine

RomaniaMoldova

Lativia

Bulgaria

HungarySlovakia

Serbia

Russia

Chad

WesternSahara

Mauritania Mali

BurkinaFaso

Israel

Lithuania

Albania

Bos. &Her.

Niger Sudan

Croatia

Cyprus

Jordan

Syria

SenegalThe Gambia

Guinea-Bissau GuineaSierra Leone Liberia

GhanaTogo

BeninNigeria

Cameroon

CentralAfrican Republic

Equatorial GuineaGabon

Rep. ofThe Congo

DemocraticRepublic

Of the CongoAngola

Namibia

South Africa

Eritrea

Ethiopia

SomaliaUgandaKenya

RwandaBurundi

Tanzania

Malawi

Mozambique

Madagascar

Zambia

Botswana

Zimbabwe

SaudiArabia

Iraq

KuwaitBahrain

QatarUnited Arab Emirates

OmanYemen

Pakistan

AfghanistanIran

Georgia

ArmeniaAzerbaijan

Turkmenistan

Uzbekistan Kyrgyzstan

Tajikistan

KazakhstanMangolia

Nepal Bhutan

Sri Lanka

BangladeshBurma

Thailand

Laos

Cambodia

Vietnam

Taiwan

South Korea

North Korea

Indonesia

MalaysiaSingapore

Brunei

Philippines

PapuaNew Guinea

New Zealand

SolomonIslands

Malta

SwazilandLesotho

East Timor

Ivory Coast

Lebanon

APG Network

Coverage

ATLANTIC AIRWAYS

(BSP)

Canada

Greenland

United Kingdom

Norway

Iceland

Sweden

FinlandRussia

Estonia

Denmark Lativia

Alaska

Brazil

United States

Canada

Mexico

United Kingdom

Ireland

Spain

France

Cuba

Italy

Egypt

GermanyPoland

Greece

Switzerland

India

Australia

JapanChina

VenezuelaGuyana

SurinameFrench Guiana

Columbia

Ecuador

Peru

Bolivia

Chile

Argentina

Paraguay

Uruguay

Haiti

DominicanRepublicJamaica

PanamaCostaRica

NicaraguaEl SalvadorHondurasBelizeGuatemala

Portugal

Austria

Turkey

AlgeriaLibya

Morocco

Czech Rep.

Denmark

Lux.Belgium

Netherlands

Tunisia

Belarus

Ukraine

RomaniaMoldova

Lativia

Bulgaria

HungarySlovakia

Serbia

Russia

Chad

WesternSahara

Mauritania Mali

BurkinaFaso

Israel

Lithuania

Albania

Bos. &Her.

Niger Sudan

Croatia

Cyprus

Jordan

Syria

SenegalThe Gambia

Guinea-BissauGuineaSierra Leone Liberia

GhanaTogo

BeninNigeria

Cameroon

CentralAfrican Republic

Equatorial GuineaGabon

Rep. ofThe Congo

DemocraticRepublic

Of the CongoAngola

Namibia

South Africa

Eritrea

Ethiopia

SomaliaUgandaKenya

RwandaBurundi

Tanzania

Malawi

Mozambique

Madagascar

Zambia

Botswana

Zimbabwe

SaudiArabia

Iraq

KuwaitBahrain

QatarUnited Arab Emirates

OmanYemen

Pakistan

AfghanistanIran

Georgia

ArmeniaAzerbaijan

Turkmenistan

Uzbekistan Kyrgyzstan

Tajikistan

KazakhstanMangolia

Nepal Bhutan

Sri Lanka

BangladeshBurma

Thailand

Laos

Cambodia

Vietnam

Taiwan

South Korea

North Korea

Indonesia

MalaysiaSingapore

Brunei

Philippines

PapuaNew Guinea

New Zealand

SolomonIslands

Malta

SwazilandLesotho

East Timor

Ivory Coast

Lebanon

TKT-7472260587755 RCI- 1A LOC-

OD-BGFBGF SI- FCMI-0 POI-PAR DOI-13SEP12 IOI-20220406

1.WATANGA/BONIFACE ADT S I

1 OBGF KQ 576 M 19SEP0740 OK YEEIF3M F 19DEC 30K

2 ODLA KP 38 Y 19SEP1720 OK HEE6M F 19SEP19SEP 30K

3 ONDJ KP 39 T 04NOV0900 OK TPX3M E 04NOV04NOV 30K

4 ODLA ET 903 O 04NOV1220 OK YEEIF3M E 23SEP19DEC 30K

BGF

FARE F XAF 506900FARE F XAF 506900

EQUIV EUR 773.00 BSR 0.001524

TAX EUR 97.85YR

TAX EUR 7.62HD

TAX EUR 133.74XT

TOTAL EUR 1012.21

/FC BGF KQ DLA341.57KP NDJ169.26KP DLA112.17ET BGF341.57NUC964.5

7END ROE525.504300 XT7.62HC15.24ZB30.48CF7.62IB33.53IP18.29ZG5.7

2TD15.24BX

FE VALID ON ET/KP-NONREF

FP CHECK

SAC-74710804574439

Thank you!Thank you!