1. Passenger to Freighter Conversion Fabien Bonavita Services Marketing Project Presentation 23 February 2006

2. A constantly growing market 7% p.a. growth over the last 30 years vs. 4.4% for pax traffic 3,139 freighters to be delivered till 2023 including 2,412 conversions

3. Stretching the marketing proposal Passengers Aircraft Airlines Lessors Banks Conversion cycle Aircraft Manufacturer Independant site Aircraft purchase Aircraft Manufacturer Passengers Aircraft Airlines Lessors Banks Many volunteering players but not in contact Integration of the full service stretches the customer relationship

4. The best actor to profit more? Consultant Can work with various players including competitors Requires capital if wants to trade Difficulty to provide capital and trade Many potential actors but few winners for this Marketing Strategy Conversion plant Very different from the core business Difficulty to link all these people Intensive capital activity No particular benefit Operating lessor` Stretches offer Ability to offer various products Limited to aircraft in fleet Service allows clearing of the market and increase of sales And younger fleet From a product life cycle to a service life cycle Banks At the term of finance leases, title to the aircraft usually passes to the operator No asset management usually necessary (except default) Speculative and risky investment Not core business Manufacturer Stretches the offer Provides seemless to customers Service allows clearing of the market and increase of sales and younger fleet From a product life cycle to a service life cycle

5. Targeting the right customers Fully reliable and affordable solutions for freighter operators Disposal of recent aircraft for passengers airlines Cargo airlinesCombination Airlines Contract airlinesIntegrators/ forwaders

6. The value added Integration of the full service stretches the customer relationship An approach adapted to each type of airline Segmentation is wider, through more targeted Change from a “product life cycle” to a “service life cycle” Pax airlines buy a more liquid aircraft, access to a younger fleet, Operators gain access to affordable reliable cargo aircraft Satisfaction is linke d to the new solution where loyalty is incre ased