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Hawk Investment Conference. PowerPoint Services 400 Park Place, 5F Fort Lee, NJ (917) 856-0582. Jordan Yaruss. October 3, 2007. PowerPoint Services. Sample Presentation. Eagle Airways (EAGL). It’s not an airline. Eagle valuation. PowerPoint Services. Sample Presentation. Plane type.

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HawkInvestmentConference

PowerPointServices

400 Park Place, 5F

Fort Lee, NJ

(917) 856-0582

Jordan Yaruss

October 3, 2007


Eagle airways eagl

PowerPoint Services

Sample Presentation

Eagle Airways (EAGL)

It’s not an airline

Eagle valuation

PowerPoint Services

Sample Presentation


Customers as platforms

Plane type

Seatcapacity

68

68

58

ERJ 145

50

ERJ 170

70

ERJ 175

85

36

36

36

26

21

10

1999

2000

2001

2002

2003

2004

2005

2006

2007

Customers as platforms

AmericaJet planes


Long term nature of contracts
Long-term nature of contracts

  • Initial contract is typically 10—12 years in duration

  • Contracts typically get expanded and extended over their life

Profit visibility

70%

Customers under contract

of current pre-taxprofit contracted to

2016


Growth through industry turmoil
Growth through industry turmoil

Airline bankruptcies

EBITDA/ROE/planes under contract

  • American

    • Financial distress 2001

  • Delta

    • Chapter 11, September 2005

  • TWA

    • Sold to AMR, April 2001

  • United

    • Chapter 11, December 2002

  • US Airways

    • Chapter 11, August 2002

    • Chapter 11, September 2004

    • Merger with America West, May 2005

$ millions

2002

2003

2004

2005

2006

2007E

2008E

ROE: 11.7% 12.0% 13.0% 14.0% 15.0% 16.0% 17.0%

Planes: 60 70 80 90 100 200 300


Case study delta airlines
Case study: Delta Airlines

Bankruptcy$xx.xm

Warrants$xx.xm

55 planes

Eliminates 15

Impact on EAGL:$Xm pre-tax/year

EAGL

$xxm


Jordan Yaruss

PowerPoint Services

Phone: (917) 856-0582

Fax: (201) 944-9499

www.powerpointservices.com

[email protected]


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