Airis brings total flexibility to the development of new facilities. In situations where the carrier desires to have total involvement in development of the facility, Airis can adapt its role while still providing financing and “off-balance sheet” financial treatment of the facility asset. Airis is known throughout the industry for its creativity, not only in design, but also in problem solving. With each project, Airis focuses on providing competitive advantages to its clients from the moment the project is identified, through planning, financial structuring, construction, and ultimately through the project’s entire life cycle.

PLANNING AND CONSULTING

Airis’ professional capabilities include master planning, facility planning, construction management, marketing, and property management. Within these categories, the company offers a number of specialty services, including pre-construction services; research and planning; world-wide aviation market information and analysis; Material Handling System consulting; and leasing strategy formulation and negotiation.

DESIGN AND CONSTRUCTION

Airis’ concentrations of specialized talent and experience can design and construct a facility more quickly and cost effectively than, typically, an airline, airport or other aviation facility user. Working with the world’s largest airlines at the world’s gateway airports, Airis produces quality aviation facilities at cost levels significantly lower than what the airlines can deliver themselves. The simple truth is that aviation facility development is Airis’ core business. The same cannot be said for airlines, airports, or institutional investors.

INTEREST RATE AND CONSTRUCTION COST/SCHEDULE RISK

Airis bears interest rate, construction cost, and construction schedule risks following the execution of a sublease agreement. The rental rate costs can be fixed for a lengthy period of time prior to the closing of the financing and thereafter during the construction and pre-operational phases. Airis’ “rate-fix” produces a significant competitive advantage in that the facility could enjoy a year 2000 “cost-of-money” benefit within a year-end 2001 or 2002-market environment. Assuming that a project has a two-year development period and that annual inflation averages 3.0%, Airis’ development structure could present a 6.0% or greater cost advantage to the tenant airline.

FLEXIBLE LEASE TERMS

Based on the local market (size of airport, tenants, growth projections, etc.), varying risk underwriting criteria are utilized. Typically, at larger, hub/gateway airports (e.g. LHR, FRA, AMS, etc.), market based analyses can replace more traditional corporate credit based analyses. This allows Airis to accommodate more flexible lease term commitments from its tenants. Instead of requiring 20 or 25-year lease commitments, Airis can offer, depending on market conditions, terms of 5, 10, or 15-year leases (with options).

FLEXIBLE LEASE SPACE ARRANGEMENT GEARED FOR GROWTH

Often carriers elect to build “small and safe” rather than “large and aggressive” as a result of concerns about the validity of growth projections. This is particularly true where a larger facility might not be fully utilized for 5, even 10 years. Airis can develop the larger facility and take the risk and leasing responsibility for the surplus space while allowing the carrier to expand into it gradually, as and if needed.