aviation The Americas ENGINE Strategic MRO relationships AIRCRAFT integrating CONSUMABLES services Around the world and around the clock

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1 aviation Delivering complete aircraft spares support Around the world and around the clock Strategic MRO relationships optimising REPAIRS AIRCRAFT ENGINE services integrating CONSUMABLES The Americas Now open for business

2 contents Around the World and Around the Clock Complete Aircraft Spares Support Americas. Welcome to Miami Optimising Repairs Right Part. Right Place. Right Time Web Portal Strategic MRO Relationships Commitment to Excellence. AJW Bursary Integrated Consumables Management Central and Eastern Europe Technical Services A J Walter Leasing Component Pooling Aircraft Engine Services Quality Management Investing in our Customers AJW at a Glance

3 1 Around the world and around the clock, AJW consistently delivers on time, every time. A J Walter Aviation operates out of London, Singapore, Dubai and Miami with additional strategic spares hubs across Europe and the USA. Our business focuses on the supply of commercial aircraft spare parts and our comprehensive services include parts sales, loans and exchanges; power-by-the-hour and pool access; serviced and non-serviced lease packages; consignment stock management; and global 24/7 AOG. We are experts in helping our customers to optimise their aircraft inventories and we also offer full component repair and overhaul as well as integrated consumables management, logistics, door-to-door freight and engineering services. Our customer base around the world is serviced around the clock and benefits from our experienced local representatives in every key market who are focused on developing the exemplary service, flexible logistics and commercial solutions for which AJW is renowned. Ongoing global development AJW's business across the Americas is growing rapidly and our office in Miami is supported by Airbus and Boeing inventories located onshore at this base and in Los Angeles. Regional hubs with professionally managed component pools are a mainstay of our proven model and have been used to support our considerable business in Central and Eastern Europe for several years. Component PBH, pooling and leasing are now recognised as more efficient operational alternatives. This has led to the fast-track development of A J Walter Leasing. Offering bespoke solutions, it provides direct services to the aviation community and also assists A J Walter Aviation in delivering larger support packages to airlines and maintainers. When you choose A J Walter Aviation as your partner, we will deliver complete aircraft spares support and complete peace of mind. But please don't just take our word for it, ask our customers. AJW is committed to a wide ranging programme of training and investment in its people to ensure that their skills and knowledge are maintained at the highest level. The group employs over 200 staff globally with extensive multilingual capabilities and a wealth of direct experience from airlines, OEMs, logistics, stockists and MRO organisations. Together, we are delivering a full 24/7 service to over 700 customers in more than 100 countries. Globally, AJW continues to refine its processes, pioneering new service solutions and introducing significant change to the benefit of our customers. We have recently introduced comprehensive Component Repair Management programmes with guaranteed turn times and extended warranties backed by our extensive inventories, as well as Integrated Consumables Management programmes with flexible consignment and replenishment service options. AJW has also invested in skills and infrastructure to offer aircraft engine sales and leasing opportunities as well as an engine parts sales business. We are continually developing new and flexible component support programmes to manage the requirements of those airlines and maintainers who seek to optimise their costs in the challenging business of aviation. We are committed to offering a range of services that are world class, worldwide and 24/7. Christopher Whiteside. President. Delivering complete aircraft spares support aviation

4 2 - support COMPLETE aircraft spares support POWER-BY-THE-HOUR SUPPORT AJW offers one of the most comprehensive and successful power-by-the-hour programmes in the world. Bespoke packages are tailored to customers' individual requirements and these include: Stock positioning at your chosen site Access to rotables on a pool basis Component repair and overhaul management Engine management Contractual purchasing Logistics and transport services Competitive fixed costs are aligned with the financial framework in which you need to operate and this allows you to manage expenditure effectively. AJW can also offer support for all parts within all ATA Chapters. This means no restrictions and no limitations. Quite simply, full spares support is available without exemption. AJW will also support all fleet sizes with any utilisation hours. POOL ACCESS AND COMPONENT MAINTENANCE IN ONE FULLY INTEGRATED PROGRAMME AJW will provide you with a dedicated contract team to manage your support requirements and to ensure that all maintenance issues become the responsibility of AJW, thereby allowing you to focus on other operational issues. This unique service is founded on the valuable experience AJW has secured from its long-term partnerships with many operators, leasing companies and maintenance providers. It comprises: Unlimited support liability No restriction or limit on service levels COMPONENT LEASES OR SERVICED LEASES We can provide lease packages to satisfy many requirements from MBK to line outstation. And like power-by-the-hour contracts, the repair, overhaul and modification of leased components can be fully managed. With AJW you can: Structure a lease package for either your Airbus or Boeing fleet based on a specified spare parts inventory Eradicate the need to commit capital investment to acquire such inventory Opt for a complete serviced lease solution As the leading independent aircraft spares specialist with a US$350m inventory of over 400,000 line items, and an extensive network of global supply chain partners, AJW is highly regarded for its 24/7 AOG critical response service. We'll always come back to you with a solution. Boris Wolstenholme. Chief Executive. Delivering complete aircraft spares support

5 3 CONSIGNMENT With over 350 aircraft under contract or power-by-the-hour, and a regular customer base of over 700 airlines, AJW is the ideal choice of partner if you are looking to divest surplus inventory and benefit from our extensive market expertise. AJW can help you: Convert your inventory from a cost liability to a revenue generating asset Access a truly global marketplace Effectively manage the exchange and loan of your components Optimise the profitability of your aircraft inventory transactions Minimise your repair turn times and improve guarantees DAILY SUPPORT AJW can deal with your business on a regular daily requirement basis, or we can tailor a general terms agreement to meet your specific requirements. We guarantee a service level or a range of pricing based on either volume or exclusivity, no matter how frequent or extensive your needs might be. Such terms can include: 24/7 AOG services A dedicated customer manager Regular reporting on request On-site liaison Consolidated invoicing per project as required Logistics and transportation services COMPONENT REPAIR MANAGEMENT AJW can help you reduce your costs and achieve better efficiencies through reduced inventories, guaranteed turn times and extended component reliability. Over half of our business is focused on significant asset management contracts so we must always be able to deliver on time, every time. AJW continually invests in inventories to safeguard this performance and these same inventories underwrite our repair management guarantees. Annually, we spend over US$100m on up to 25,000 individual repair orders, more than many airlines. AJW has considerable buying power which gives us access to very competitive pricing, turn times and warranties. Choose AJW to manage your repair programmes and you can take advantage of these benefits. INTEGRATED CONSUMABLES MANAGEMENT Consumables management can be a complex task due to the wide range of parts involved, varying consumption levels, and multiple suppliers. AJW's consumable consignment and replenishment service for line maintenance consumables is designed to complement the operational requirements of an airline and streamline the process in a number of ways: Significantly reducing transaction and inventory costs through on-site consignment of regular consumables Improved service levels with one supplier and one point of contact No minimum order value or minimum quantity Single consolidated monthly invoice AIRCRAFT ENGINE SERVICES AJW has now invested in this sector by combining an experienced team of talented individuals with the world class logistical services for which we are well known. Our existing customer and vendor network already gives us access to a wide range of engine purchasing, leasing and sales opportunities and we plan to develop a premier position with chosen partners that will provide: An engine leasing portfolio primarily focused on short-to-medium term Competitively priced engine sales opportunities A comprehensive engine parts supply business available 24/7 aviation

6 4 - the Americas The Americas Pioneering partnerships open new frontiers. What is it about the American aviation market that is encouraging A J Walter Aviation to commit to a programme of long term investment and support? Andrew Braley, Director of Business Development explains: AJW's business model is geared up to help airlines reduce their costs Traditionally many airlines in North America, legacy carriers in particular, have owned and managed their own inventories to service their comprehensive fleet requirements. With current budgets under tremendous pressure to reduce costs, airlines are striving to find innovative ways to support their organisation without sacrificing service. They are looking for alternative systems and creative partnerships. The AJW business model offers a menu of services including: exchanges, loans and pooling. This allows the airlines to align costs in key areas of their organisations and we see a paradigm shift towards our flexible framework of products which allows airlines to invest in service levels as opposed to assets. aviation For more than 75 years AJW has focused on building a reputation for 24/7 support The achievement of global recognition in the aviation community has been earned as a result of a significant investment in our business, our inventory of modern commercial spares, our efficient processes and our experienced and professional people. As we expand our geographical reach, the ripple effect of our reputation has opened the door to new markets and we see heightened brand awareness of AJW across the Americas. Exceptional service levels, strong relationships with key organisations, and a focus on helping our customers achieve business success, has led to AJW becoming recognised as a lynchpin in the aviation community. Recently, DHL Aviation Americas, operating across Central America from its Florida base, chose AJW to service its newly acquired B757 aircraft fleet on a 3- year pool access contract. Delta TechOps has also leased multi-million dollar spares packages to support A330 and B737NG operators from A J Walter Leasing, a member of the A J Walter Aviation group of companies.

7 5 Welcome to MIAMI AJW's inventory hubs on the East and West Coast are now fully supported by our new onshore regional sales and customer service office in Miami. This further reinforces the Company's commitment to the North American commercial aviation sector. Our Florida based operation is perfectly located to work well with European time-zones and Miami has excellent links across the Americas and the Caribbean. It backs up the Company's recent siting of service ready component inventories for Airbus and Boeing spares in Los Angeles and Miami and will underpin the range of sales, exchange and loan services to operators and MRO service providers that AJW delivers across the region. With over US$350m worth of in-service Airbus and Boeing spares and more than US$150m value of component leasing packages in the global marketplace, AJW is gearing up to expand its component power-by-the-hour, pooling, leasing and daily sales and exchange services to customers throughout the Americas. The team: Angela Garber. Regional VP Sales. Matt Millbank. Regional VP Business Development. The products and services that AJW offers have been carefully structured for customers in the Americas A tremendous annual investment in service-ready Airbus and Boeing products of the highest quality and standard makes AJW well positioned to service the American fleets. Many airlines throughout the region operate internationally and we already have the infrastructure to support them in Europe, Middle East, Africa and Asia. Services such as pooling with AJW will assist airlines in streamlining planning and support for their international operations and this will dramatically reduce delivery times and costs. By providing more flexible and cost effective options, airlines will benefit financially, administratively and logistically working with AJW. Our 24/7 AOG and component repair management give our customers the ability to ramp up services without expanding their operational base or increasing costs For repairs, AJW is able to choose the best performing repair shops and this enables us to manage component repairs with the utmost efficiency. We select the right partners for all repairs and these are closely audited for quality and cost-effectiveness. Operators throughout the Americas can benefit from this flexibility and a lean approach. Central and Latin American airlines appreciate our logistics expertise, they know we can keep them flying AJW's depth of experience in managing comprehensive freight and logistics issues in some of the more challenging areas around the globe especially in Russia, Africa, China and some countries in South America, can be of great benefit to airlines. AJW has also steadily increased its presence in the Latin American market giving daily and contractual support to a significant number of operators across the region. Customer loyalty in this complex region has been earned through our understanding of the business culture, the provision of a sympathetic customer service and total AOG support. AJW is the perfect partner because we focus on delivering a service, and not just selling components In the challenging environment of aviation; airlines are seeking alternative means to share the cost of owning and managing inventory, while maintaining uncompromised service levels. AJW is a premier industry partner that US airlines can rely on for complete global aircraft support. There may be more than 300 aftermarket stockists in the US, but there is only one AJW.

8 6 - repairs optimising REPAIRS REPAIR MANAGEMENT A J Walter Aviation manages a streamlined vendor supply chain of just over fifty primary repair workshops and a total of 200 approved facilities. We spend over US$100m annually on around 25,000 individual repair orders. Quality, reliability and delivery underpin competitive pricing from such prime suppliers as Ametek, British Airways Engineering, Delta TechOps, Goodrich, Hamilton Sundstrand, Honeywell Aerospace, Iberia Maintenance & Engineering, Liebherr, Moog, Nordam, Northrop Grumman, Parker Aerospace, Rockwell Collins and Thales. This supply chain is the foundation of the AJW repair service which is managed by an experienced team whose focus is to continually deliver and improve against such key criteria as: World class reliability AJW has no restriction on the capability that we offer, nor will we compromise on the service levels we are proud to guarantee. Guaranteed availability With significant component inventories, AJW is able to offer free of charge exchanges whenever necessary. First class turn times AJW only works with the best and through our prime supplier network, AJW can help customers reduce AOG call-outs and general maintenance costs. Value-for-money AJW's significant purchasing power facilitates a comprehensive range of competitive fixed prices and superior warranties. EFFECTIVE STOCK MANAGEMENT AJW only stocks spare parts for modern commercial passenger aircraft. The skill of AJW is in managing our assets effectively by using third parties such as OEMs, airline workshops and independent repair specialists to maintain our inventories. This ensures guaranteed delivery and service to our airline customers. TOTAL QUALITY CONTROL AJW conducts regular reliability board reviews to set and analyse the performance standards it expects from its component inventories. All rejections, no fault found or failures are closely monitored by the AJW technical engineering team who are dedicated to improving reliability and service levels to our customers. AJW reviews all primary vendors on a quarterly basis measuring repair warranty performance as well as turnaround times and pricing. RELIABILITY ANALYSIS AJW manages a comprehensive reliability and monitoring system to support its operations. AJW RAMP (AJW Reliability And Monitoring Programme) is now in its second generation and provides the AJW team with a range of information and analyses including: A complete reliability and warranty tracking programme that monitors incoming and outgoing units and records any warranty claims. This allows AJW to undertake regular reliability surveys of all components, to perform statistical analyses on demand, and to more easily identify rogue unit performance. An independent component tracking, history and analysis showing any incoming defect, workshop report and technical analysis including modification and recommended service bulletins. This enables AJW to undertake rapid defect investigations and recommend actions to the appropriate workshop to improve the reliability of each component. Do remember that by channelling all your repair business through AJW you only have one supplier to pay which minimises administration. And, by only having one point of delivery and collection, your logistics costs are substantially reduced too. Customer service is at the forefront of everything we do so we strive to offer complete flexibility. This means you tell us what you want and AJW Component Repair Management works with you to determine your optimum cover, guarantees, delivery and pricing. Conrad Vandersluis. MRO Director.

9 7 MAINTENANCE TEN REASONS TO TALK TO AJW COMPONENT REPAIR MANAGEMENT Lower overall cost Award-winning service Guaranteed turn times backed by our inventories A web portal that offers complete visibility, transparency and real-time tracking Competitive pricing and flexible payment plans including rebates and volume discounts A one-stop shop that delivers lower administrative costs Consistent quality and extended warranties using only the best performing MRO suppliers Preferred availability of OEM discounted exchange and loan units Comprehensive reliability analysis 24/7 customer service Delivering a full component repair management service aviation

10 8 - logistics Right part, right place, right time. It's as easy as that 24/7 Delivering the right part to the right place at the right time is pivotal to the growing success of AJW. Our ability to collect and deliver 24/7 worldwide, in the fastest possible time scale, consistently, is a key strength of our logistics service. GLOBAL PARTNER NETWORK The AJW logistics department works round the clock to ensure prompt deliveries of critical parts anywhere in the world. Every day AJW provides solutions to problems and contributes to the successful operation of many of the world's airlines. AJW operates a comprehensive freight and logistics service with its partners DHL, B&H Worldwide and FedEx. Over 2,000 inbound and outbound shipments are handled each week comprising spares sales, acquisitions, consignments and loans. Our experienced logistics team also deals with repair vendors and manages AOG and critical deliveries for customers on a daily basis. Additionally, AJW manages tailored logistics projects for individual airlines to these same high standards. COST-EFFECTIVE OPTIONS Our comprehensive knowledge of all customs, hazardous goods regulations, and export control regulations, enables us to advise customers and ship spares with maximum efficiency and safety. By working closely with leading airlines and freight forwarders globally, AJW is able to pass on substantial discounts. Weekly or monthly consolidation schemes provide cost-effective options for the movement of lower priority items. For these and more urgent deliveries AJW can access live EDI connections to all freight forwarders, internet tracking for all prime suppliers, and reliable track-and-trace services with the major airlines. Outsourcing is increasingly seen as a way to control costs and all airlines, from legacy carriers to no-frills operators, are under continuous pressure to maximise efficiency. It is our aim to provide our customers with a reliable spares, repairs and logistics service backed by comprehensive inventories, knowledge, and commercial understanding. THE BIG PICTURE AJW logistics specialists monitor and replenish Airbus and Boeing stock at our regional hubs around the world, currently in Singapore, Dubai, Prague, London, Miami and Los Angeles but with new additional locations under regular review to meet ever-changing requirements. This is a highly complex logistical exercise for which AJW has made a considerable investment to ensure that spare parts are in place and accessible to all contracted customers and to continue to offer customers the first class ad hoc daily spares delivery service for which AJW is renowned. Most of our customers know we hold a huge inventory of Airbus and Boeing spares, but one of the key factors that differentiates us from others is our ability and commitment to follow up on delivery. Speed and communication are our watchwords. It's all about timing and seeing the job through to the end. Andy Smith. Operations Director.

11 9 The AJW Web Portal Always open to help your business AJW offers a secure, online, rich internet application to give its customers a real-time view of their component order status. The user experience is simple and intuitive and is designed to give immediate access to the parts you need, when you need them. The AJW Web Portal experience can be tailored to an individual customer's business and the system is easy to use with minimal instruction. The interactive ordering and supply chain system is platform independent and can work with all operating systems. It enables customers to manage parts covered by support contacts and employs tracking functions and freight forwarding integration to show where orders are at any one time. A Key Performance Indicator and Analytics module allows reporting for service level trends and provides complete transparency. Accurate, fast, error free and efficient, the AJW Web Portal saves money via consolidation shipment functionality and reduced administration. It also saves time through synchronised visibility resulting in less traffic. With 24/7 access wherever customers may be, and in whatever time zones they operate, the portal makes a significant positive difference to the way that purchasing teams operate. At present our key customers can place orders through the Web Portal and shortly all contracted customers will have full access to the complete interactive suite of management services. We will be extending the functionality of our Web Portal to include new modules for Ad Hoc/Daily Spares Support, Component Repair Management and Integrated Consumables Management. For more information, or to arrange a demonstration please contact: enquiries@ajw-aviation.com We re proud of our new Web Portal development. It offers a real step change in service for our customers with 24/7 access to all their AJW transactions. And there s more to come. Becca Thompson. Sales Operations Manager. aviation

12 10 - MRO Strategic MRO relationships Ensuring competitive global aftermarket solutions The development of business partnerships with a select group of leading airline MRO facilities around the world has been a primary objective of the AJW group of companies. These alliances provide our MRO partners with comprehensive and flexible spares solutions and allow AJW to offer an extended range of other maintenance solutions to meet a wide range of customer requirements. Together we have created a powerful combination of technical, logistics and commercial capabilities that bring enormous benefits to customers seeking keen aftermarket solutions. Christopher Whiteside. President. Boris Wolstenholme. Chief Executive. MAINTENANCE A winning combination for Thomas Cook Airlines Thomas Cook Airlines awarded A J Walter Aviation a multi-million dollar contract from 2011 to provide component power-by-the-hour and leasing support for its A320 and A330 family aircraft fleets based in the UK and Scandinavia. Winning this long-term five year agreement was an important step forward for AJW who led a partnership of BA Engineering and Iberia Maintenance & Engineering - now the International Airlines Group - to deliver successfully on a challenging competitive tender. AJW's low cost base, world class logistics and a flexible commercial approach satisfied Thomas Cook Airlines' comprehensive and stringent requirements. However, another important factor in the decision-making process was the vast knowledge and experience our partners were able to bring to the table, particularly in respect of their relevant Airbus fleet operations and workshop capabilities. The BA Engineering-AJW relationship has been planned to bring mutual benefits to both companies. As a business, BA wants to spend its money on continually improving the travel experience and adding value for its customers. To develop and grow, BA needs to invest in providing superior lounges, better aircraft interiors and outstanding IFE systems, as well as in offering competitive seat prices. Partnering with AJW allows BA to generate revenues from its inventories via AJW's loan and exchange programmes across its customer base of over 700 airlines. Yet the relationship is far greater than this because BA can now be an integral part of more comprehensive component support packages, not simply limited to the repair capabilities that it has inhouse. And the contracts that we win together will also generate additional component repairs through BA workshops. The global reach of the BA brand as a world class airline, combined with the award winning aftermarket support services available from AJW, provide a powerful and attractive option to industry audiences that either party may not reach alone. aviation

13 11 Local support across the Americas with Delta TechOps Delta TechOps already operates a highly regarded and efficient MRO business based in Atlanta servicing both the Delta fleet and a growing number of third party customers. Its capabilities are also expanding with the acquisition of the predominantly Airbus fleet from Northwest. DTO has ambitious plans to further tap into the huge potential that exists to deliver revenues from third party support, and that is where it sees AJW as a key partner to provide bespoke pooling, leasing and other support activities to complement its portfolio. AJW utilises DTO s component repair services and works with DTO to develop support programmes for Airbus and Boeing aircraft across the Americas and also worldwide, where it makes sense to offer DTO experience and service, either in a full MRO, or specialist technical support role. DTO benefits greatly from AJW's professional logistics and the hub stock that AJW has located in Miami and Los Angeles which is a balance of open and closed pools for both daily and contracted customers. For DTO, the AJW pooling and leasing options are enormously beneficial since access to AJW stock means that it can reduce its investment and never have to compromise its core inventory which is required to support the airline itself. Gateway to China AJW also announced a new partnership with Guangzhou Aircraft Maintenance and Engineering Company (GAMECO) in The role of AJW in this relationship is to provide a portfolio of loan, exchange, sale, consignment, consumable and repair management services for all in-service Airbus and Boeing aircraft fleets across China. It is GAMECO's capabilities and their position in China's commercial aviation market, combined with AJW's complete aircraft spares support expertise, that delivers a totally compelling proposition to operators onshore in this growing sector. Placing significant spares pools in GAMECO, with replenishment from AJW's extensive spares inventories, will allow GAMECO to be more competitive in the component support market offering immediate access for exchange or guaranteed turn times for repair management. This new relationship with AJW will allow GAMECO to meet the planned fast-track development of its state-of-the-art component repair facilities. Together, GAMECO and AJW intend to become a world class player in this hugely significant marketplace.

14 12 - bursary Our commitment to excellence across the aviation industry Now entering its fifth year, the A J Walter Aviation Bursary for MSc Aircraft Maintenance Management in partnership with City University, London, reaches out to talented young engineers. In 2007, to mark the Company's 75th anniversary, we looked for a way to share our success with others in the industry. So we approached City University, London for student sponsorship opportunities and became a founder sponsor of the MSc Aircraft Maintenance Management, the first degree course of its kind in the world. This was just what AJW was looking for and Christopher Whiteside, President, was pleased to offer his support. The MSc offers both practical and theoretical learning. It also gives students the opportunity to share experiences and knowledge, creating a culture of best practice and continuous improvement. We are really proud to be in a position to support the course financially as well as to provide a Bursary to a student each year. I'm particularly delighted to add that in 2010 one of our own employees Shafiik Sadoola, MRO Team Leader, commenced the postgraduate degree course and we wish him every success. Financial support greatly benefits talented students There is no better time to develop the engineers of the future, adds Professor Roger Wootton from City University. As we start to emerge from the global downturn, there is an increased requirement for qualified engineers to ensure improved efficiency, safety, quality, and performance. For all of our previous Bursary winners, the MSc Aircraft Maintenance Management would have proved to be not only difficult in terms of the pressures of studying part time, but also the financial burden may have been too much. For these talented engineers the AJW Bursary has been the perfect solution. Yassine Herraz from Royal Air Maroc. Bursary Winner 2010 in Casablanca. The Bursary demonstrates AJW s commitment to the training and development of aviation professionals and undoubtedly the qualification will be extremely beneficial to Yassine's career. Last year a student from Czech Airlines won the accolade, prior to that it was won by engineers from Ethiopian Airlines and Emirates. So often, engineers are the unsung heroes behind efficient and profitable airlines, so it gives AJW enormous pleasure to reward exceptional individuals in the field of aviation maintenance and engineering. bursary@ajw-aviation.com for more information. Sponsoring the Flightglobal Achievement Awards A J Walter Aviation is also a proud sponsor of the Flightglobal Achievement Awards alongside Boeing and Bombardier. These prestigious annual awards search for the most admired individuals in aviation and aerospace around the world. It is about the best in the industry and AJW is keen to champion those who deserve such recognition. Past winners have included the Hudson River hero Captain Chesley Sullenberger, Virgin Atlantic's Sir Richard Branson, and father of the Global Hawk, Bob Mitchell. Most recently the passengers of Delta Flight 253, Embraer, and British Airways' Chief Executive, Willie Walsh, were voted Aviator, Innovator and Leader of the Year, respectively. Willie Walsh receiving his award from Christopher Whiteside, President, A J Walter Aviation was AJW s fourth year supporting the MSc Aircraft Maintenance Management degree and we were delighted to present the award to Yassine Herraz at a special ceremony aviation

15 Integrated Consumables Management minimise your inventory and improve operational efficiency 13 The AJW consumables solution has been designed to ease the demand management, ordering and receipt of consumables through planned consignments and our strong relationship with vendors. This enables us to pass on significant price savings. We will deliver the right part to the right place at the right time to optimise operational efficiency. The demand and replenishment is completed almost instantaneously as parts are readily available at your facility in advance from the managed consignment. Customer service is at the forefront of everything we do and we strive to offer complete flexibility. This means that you tell us what you want and AJW's Integrated Consumables Management service works with you to determine your optimum stock cover, availability guarantees, delivery and pricing. We know consumables management can be a complex issue due to the wide range of parts involved, varying consumption levels, and managing multiple suppliers. Typically, the consumable management process for an airline or MRO involves planning and procuring parts from a large number of vendors across a broad spectrum of products. AJW solves these consumable supply issues by providing a streamlined solution to minimise inventory, reduce costs and enhance the operational efficiency of an airline or MRO. FIVE key reasons to talk to the AJW Integrated Consumables Management team Reduce transaction and inventory costs through on-site consignment of regularly used consumables Improve efficiency through timely replenishment on consumption Improve service levels with one integrated supplier and a designated single point-of-contact Dispense with minimum order values and minimum quantities Simplify finance transactions with one single consolidated monthly invoice For more information contact: consumables@ajw-aviation.com We have applied the same delivery and service standards to our new consumables consignment and replenishment service for line maintenance and MROs that have made us the world's leading independent component spares specialist. AJW will provide a streamlined solution that delivers savings from day one. Nick Roberts. Consumables Supply Manager.

16 14 - Central & Eastern Europe Central & Eastern Europe, an expanding market To succeed, all airlines need to maintain dispatch reliability and any defects relating to component failure must be remedied immediately. However, operators in Central and Eastern Europe have to balance the convenience of on-site spares availability with the associated cost implications for their business. This is why the AJW component solution, with the flexibility it offers, works so well. Declan Meagher. Director of Sales & Marketing - Europe. A clear strategy In 2006 A J Walter Aviation decided to concentrate on developing business relationships in Central and Eastern Europe. We signed our first power-by-the-hour contract with BH Airlines based in Moldova, and identified Prague as the ideal location from which to begin pooling inventory for the region's airlines. Negotiations commenced with Travel Service and Czech Airlines regarding all inclusive power-bythe-hour solutions. By March 2007, AJW had been awarded a five year power-bythe-hour contract by Travel Service to cover their fleet of nine B737 aircraft. This was swiftly followed by Air Moldova and Air Via, by the end of the year AJW had fifteen aircraft under contract. The business continued to develop a strong presence in the region and endorsements of the AJW service, with the cost alignments and operational peace of mind that it offers, soon gathered momentum. By the end of 2008, AJW had signed another power-by-the-hour contract with Donbassaero (now part of the Aerosvit Group) and increased the number of aircraft on power-by-the-hour coverage to over twenty five. In February 2009 AJW s track record was recognised by Czech Airlines, who awarded AJW a seven year contract for its fleet of seventeen Airbus. Czech Airlines fleet is scheduled to grow to thirty three by 2012 all of which will be managed by AJW s power-by-the-hour solution. Today, AJW has sixty five aircraft under PBH contract across Central and Eastern Europe - a significant achievement within a short five year time frame. Opportunity balanced with commercial survival On a macro-economic level during the period the countries in Central and Eastern Europe experienced significant growth in GNP. New airlines such as Travel Service seized the opportunity to expand and fly to new destinations. At the same time, established airlines questioned their cost base in an increasingly competitive marketplace and looked for ways to minimise expenditure and maximise operational efficiency at the same time. AJW demonstrated that it makes sound commercial sense to outsource to a provider with the global reach of AJW, in both the short and long term, because airlines can factor in component availability to their operational budgets from the outset. The local availability of stock at our Prague hub can be pooled between different operators and this ensures not only confidence and peace of mind, but also reduces delivery times for AOG, thus improving dispatch reliability across the region. 24/7 AOG is the deciding factor The crucial differentiator for airlines choosing AJW has been our highly regarded AOG service, considered by many aviation professionals to be the best in the industry. The significant improvements that airlines experience quickly become their catalyst for change and open up discussions about AJW s powerby-the-hour solutions throughout the region. Our investment in the locally based inventory pool is indicative of AJW s commitment to the business relationship, the geographical region, the aircraft type, and our overriding obligation to maintain dispatch reliability 365 days a year.

17 15 purely TECHNICAL Knowledge. Advice. Information. AJW operates a fully staffed technical, reliability, warranty and inventory control services department that provides support for airlines and MROs on a wide range of in-service engineering issues. These include: Urgent technical advice on components and systems in AOG situations Recommendations and suggested improvements to component maintenance packages in conjunction with OEMs and their field service representatives, including primes such as Airbus and Boeing Technical advice during aircraft heavy maintenance checks as well as engine, APU and landing gear shop visits Technical assessments of inventory in respect of modification status, applicability to fleet and recommended operator stock holdings to maximise cost benefits Advice and guidance on aircraft teardown activities and end-of-lease management reconciliations A full reliability and warranty tracking service that provides statistical analyses on demand, enabling easy identification of rogue unit performance and causal analysis, allowing quick remedial action An ongoing programme of AD and SB reviews and implementation Assistance to reconcile technical disputes Our Technical Services department is an extension to the AJW customer support team whose focus is on complete customer service and adherence to rigorous procedural controls. Our investment in this highly professional service gives our customers complete reassurance in terms of accurate and accessible data that can regularly provide practical, cost-effective solutions. As a result customers are able to align operational efficiencies with commercial requirements and plan for sustained business growth. RAMP Version 2 AJW has just introduced its next stage development of RAMP Reliability And Maintainability Programme which brings new functionality enhancements for our customers including: Web access into our live system Access to workshop findings reports Access to component history Ability to print reports remotely Component removal data per 1000FH for aircraft fleet and individually registered aircraft Visibility of comparable OEM and AJW MTBUR data NFF rates for aircraft fleet Our technical team have extensive Airbus and Boeing fleet experience with over fifty years of working and meeting complete spares, aircraft maintenance, engine management and asset health monitoring requirements. We can also provide end-of-lease, base check and other specified airline support services. Deepak Sharma. Head of Technical Services. aviation

18 16 - leasing LEASING bespoke solutions A J Walter Leasing Limited has been trading within the international aviation component supply industry for several years. The Company is based in the heart of the business district on the Isle of Man and has customers in over fifteen countries. Although we are predominately involved in providing long-term leasing solutions to international airlines, we also provide power-by-the-hour solutions, and offer customers the opportunity to sell their surplus inventories on consignment terms. A J Walter Leasing has seen significant growth since the Company's inception and working together with A J Walter Aviation companies our business plan is to match the exceptional growth across the group as a whole. Our management team is drawn from the financial community and we are well qualified to offer new, innovative tailored solutions by assisting AJW to secure bigger packages of additional business. AJW Leasing has signed a number of major lease agreements with airlines across Europe and the USA. In addition to trading activities AJW Leasing is also involved with the procurement of substantial packages of aircraft spares which are used for additional leases and consignments. This is another growing revenue stream for the business particularly amongst the smaller to medium sized start-up carriers who are looking for more cost-effective ways to finance their inventory requirements. Global airline customers need practical and efficient answers to deal with complex financial issues. Our goal in developing A J Walter Leasing as an integral part of the AJW Group is to offer our customers flexible and innovative solutions combined with the renowned AJW service. David Brown. Marketing Director. aviation

19 17 COMPONENT POOLING for strategic advantage A key problem faced by nearly half the world's operators is the significant capital locked up in slow moving and expensive inventory. This is further compounded by the need to spend money on complex IT systems and teams of people to manage the inventory. Planners have to choose what inventory to buy in the first place and how much to stock, as well as deal with the consequences of inevitable mistakes. Any surplus inventory is then dumped onto the marketplace where nobody wants to purchase it and this is a particular problem if the stock is on the airline's books at a higher than market value. Inevitably this leads to a loss. There are currently four types of pool in the marketplace: 1. AIRCRAFT OEM Offerings are generally tied to new aircraft deliveries, often inflexible and expensive. 2. COMPONENT OEM Offerings mainly limited to OEMs' own products leaving the airline to manage the remainder with reduced pool benefits. Can be useful for high cost items such as engines or APUs where an overhaul service is included. 3. AIRLINE MRO Based around the parent airline's inventory with limited capability for buying out customer stock. 4. INVENTORY SPECIALIST - THE AJW SOLUTION Our professional teams 'buy in' all MRO services We are focused on investment in inventory over the long term We are able to flex to the customer's individual needs because we are not tied to a limited range of inventory, or a single way of doing business The key financial benefits of pooling with AJW Delivering excellent reliability to operators is key to the success of AJW pooling and it is our service-driven approach that makes us the best choice. A solution based on variable costs not fixed costs A solution based on cash flow and not up-front capital investment Guaranteed service levels ensure dispatch reliability Customers can simplify their organisations and reduce infrastructure costs The key operational benefits of pooling with AJW Our customers invest in service levels, and not in component availability Advanced exchange is provided to a guaranteed service level Pool access is available against a defined inventory range and chosen locations AJW pools are profiled to match airline fit and any additional costs are AJW's responsibility Inherent flexibility is provided to cope with changes in airline operations and fleets Airlines around the world own US$ billions of component inventories which are an inefficient and expensive burden. A J Walter Aviation's component pooling service offers a wide range of benefits, it is the most convenient way for airlines to save money and operate more efficiently. John Avery. Director of Supply Chain Services.

20 18 - engines ENGINES Sales, leasing and parts supply AJW has established an enviable reputation as a world leader in component spares management. Naturally we apply these same standards of service and quality to our growing commercial jet engine management business, which comprises engine sales, leasing and parts supply. As you would expect all AJW engines and parts undergo an extensive inspection and records audit to ensure technical compliance and quality of the highest standard. AJW has the technical experience available to fully evaluate engine purchases in order to obtain the most cost-effective product for the customer. This is critical in realising value from the asset throughout its life cycle. Our commercial experience in leasing significant component packages and in contracting support for over 350 aircraft demonstrates our flexibility in tailoring leases, contracts, and other agreements to individual customer requirements. Add to that a customer base of over 700 operators and MRO facilities that deliver huge sourcing and supply opportunities, and AJW is able to compete with the best. AJW is developing a significant aircraft engine portfolio and offers an integrated management solution providing engineering services, aircraft engines for lease and quality overhauled condition engine parts to help operators to minimise engine maintenance costs. AJW is now rapidly building its engine inventory and is currently able to offer a wide range of CF6-80, CFM56-3/5/7, V2500 and PW4000 sales and purchasing opportunities. Your AJW experience will include: A dedicated engine customer service team Experienced technical advice and support Optional complete engine management solutions A truly global network of sales and service attention Operators looking for a complete engine management, leasing, trading, consignment or parts supply service from a respected, award-winning and world class aircraft component specialist need look no further than AJW. For more information contact: engines@ajw-aviation.com We re bringing a wealth of aircraft engine experience and proven delivery to AJW. The infrastructure we are building will make us a serious player in engine sales, leasing and parts supply. Steve Williams. Director of Technical Purchasing.

21 quality management 19 assuring customer satisfaction Quality Management Systems are used and supported by the world's leading aerospace companies and throughout their supply chain partnerships. Accordingly all AJW systems are continually updated to meet current statutory, regulatory and individual customer requirements. The effective operation of our Quality Management System plays an essential role in helping us to reduce risk. It provides a reliable framework for the Company to deliver quality products and services in relation to our stocking and distribution practices. AJW recently extended its AS/EN 9120 and FAA approvals up to 2012 across all its UK, Singapore and Dubai facilities with the international certification agency Bureau Veritas. The Company was commended by the auditor on its knowledge, implementation and adherence to all procedures including the overall management and maintenance of all systems documentation, as well as effective procedures for corrective and preventative actions. In summary the auditor made special mention of the fact that records confirmed the constant achievement of high level customer satisfaction. Every year AJW successfully wins or renews approvals from over twenty airlines, airline engineering and OEM customers from across the globe, and we currently hold nearly 200 individual customer approvals. It is this commitment to quality that places us at the forefront of the aviation component supply and repair industry. AJW Quality Certifications explained: AS/EN 9120:2005 A single common Quality Management System specifically for aviation stockists and distributors, which includes all requirements of the ISO9001 standard. BS/EN ISO 9001:2008 This certifies that all formalised business processes are being applied across the organisation consistently. FAA AC00-56A A system for the accreditation of civil aircraft parts distributors on the basis of a voluntary industry code of practice. The Federal Aviation Administration (FAA) strongly endorses participation in this programme to improve the ability of certified people to establish the eligibility of parts and products for installation on type-certificated products. Certified to all these standards AJW is able to provide complete assurance to its customers that it continually strives to provide the best possible quality products and services worldwide. A J Walter Aviation supplies aircraft components and services for air transport operations and provides aircraft component repair and overhaul management services worldwide. To support this business we have developed robust certified Quality Management Systems that meet international standards. These assure the delivery of quality products and services to our worldwide customer base. Deryck Stokes. Quality and Health & Safety Manager. aviation