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SkyWorks first quarter activities

During the first quarter of 2016, SkyWorks Asset Management Services conducted several transactions, including: sourcing and advising a U.S. based investor on the acquisition of one A319 aircraft on lease to American Airlines; arranging the sale of a portfolio of 10 A319 aircraft on lease to American Airlines on behalf of a U.S. investor; arranging extensions of the leases for two A320s with Bangkok Airways on behalf of a U.S. based investor; arranging the sale of five ERJ145LRs in connection with United Airlines lease expiries on behalf of a U.S. based investor; and providing investment analysis for 16 aircraft on behalf of a U.S. investor.

SkyWorks has also been retained to remarket: three 2002/3-vintage A330-200s, available immediately for sale or lease; five 1998-2000-vintage DHC8-300s, available for sale or lease in July 2017; two 1992-vintage B767-300ER aircraft, available for sale in November and December 2017; and one 1996-vintage B757-200, available immediately for sale or lease.

Investment Banking and Management Consulting Services, provided through SkyWorks Capital, included arranging a JOLCO for the third 787-9 aircraft delivered by Boeing to AeroMexico (MSN 43861). Yamasa provided the equity financing, Commerzbank was the Facility Agent and NTT Finance, JA Mitsui, IBJ Leasing and Showa Leasing were lenders.

On behalf of Air Canada, SkyWorks arranged JOLCO financing for two 787-9 aircraft delivered by Boeing. The landmark transactions were the first-ever JOLCO deals for Air Canada and in Canada. For the first aircraft, Sumitomo Mitsui Finance and Leasing underwrote the equity investment and Sumitomo Mitsui Banking Corporation provided the debt portion of the financing. For the second aircraft, FPG, advised by FPG-AIM, underwrote the equity and DVB Bank SE and Mega International Commercial Bank provided the debt portion of the financing.

On behalf of Atlas Air Worldwide Holdings, SkyWorks arranged a three-year $150 million secured revolving credit facility for general corporate purposes, including financing the acquisition and conversion of 767 aircraft prior to obtaining permanent financing for them.

On behalf of Air Greenland, SkyWorks completed a comparative evaluation of different widebody replacement alternatives for its A330-200 aircraft.

SkyWorks was engaged by a Caribbean flag carrier to provide fleet- and network-related advisory services.

SkyWorks was engaged by an Asia Pacific flag carrier to provide fleet- and network-related advisory services.

SkyWorks was engaged by a Middle East investor to provide due diligence and debt restructuring advisory services.

SkyWorks continued to serve as arranger/advisor to Delta Air Lines under a 2016 engagement to arrange sale and leaseback financing for 22 narrowbody aircraft (a combination of A321s and 737-900ERs) and three A330s. During the quarter, five aircraft closings were completed. SkyWorks continued to serve as an advisor to the Unsecured Creditors Committee in the Republic Airways Chapter 11 Bankruptcy restructuring.

Date: April 11, 2017

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