Market Analysis Pre-Owned For Sale Status - Business Jets ...

[Pages:1]2012 - Q1 2200121202-1-2Q-Q21Q1 2222222222222222222222222222222222222220000000000000000000000000000000000000001111111111111111111222222222222222222221111111111111111111176666555544443333220000000000000000000065544332276666555544443333222-------------------11111111111111111111--------------------76666555544443333222QQQQQQQQQQQQQQQQQQQ--------------------QQQQQQQQQQQQQQQQQQQQ4321432143214321431321432143214321432114321432143214321432QQQQQQQQQQQQQQQQQQQQ14321432143214321432 2016 - Q4 2017 - Q1 2012 - Q1 2200121202-1-2Q-Q21Q1 2200121202-1-2Q-Q32Q2 2200121202-1-2Q-Q413Q3 2200121302-1-2Q-Q124Q4 22001213023-1-3Q-Q231Q1 22001213023-1-3Q-Q342Q2 2200121303-1-3Q-Q413Q3 2200121403-1-3Q-Q124Q4 22001214034-1-4Q-Q231Q1 22001214034-1-4Q-Q342Q2 2200121404-1-4Q-Q413Q3 2200121504-1-4Q-Q124Q4 22001215045-1-5Q-Q231Q1 22001215045-1-5Q-Q342Q2 2200121505-1-5Q-Q413Q3 2200121605-1-5Q-Q124Q4 22001216056-1-6Q-Q231Q1 22001216056-1-6Q-Q342Q2 2200121606-1-6Q-Q413Q3 2200121706-1-6Q-Q124Q4 20210671-7 -Q31Q1 2016 - Q4 2017 - Q1 Apr-12 AApprr--1132 Apr-12 Apr-12 AApprr--1143 AAAApppprrrr----1111A5342pr-13 AApprr--11A43pr-14 AApprr--1165 AApprr--11A54pr-15 AApprr--1176 AApprr--11A65pr-16 Apr-17 AApprr--11A76pr-17 AApprr--1127 AApprr--1132 Apr-12 AAAppprrr---111423 AAAApppprrrr----1111A5342pr-13 AAAApppprrrr----1111A6453pr-14 AAAApppprrrr----1111A7564pr-15 AAAppprrr---111A675pr-16 AApprr--11A76pr-17 Apr-17

AMSTATMarket Analysis

with Andrew Young, General ManagAer M S T A T

AMSTAT Business Aviation Market Update Report AApAAAMrpilM,rMi2AlAS,0p2STS1M0r7iATT1l,7AA2ST0T1TB7ABBuTuusiBssniiunneseesinsssseAsAAvsvviaAiiaatvittoiiaoontnniMoMMnaaarMkrrkkeaeetrkttUeUUptppdUddapaatedtteeaRtRReeeepRppoeoortprrttort

A April 2017 April, 2017 s the leading provider of researched market information to the business aviation industry, AMSTAT AsAths ethleeAasledtahindeginlepgapropduvrinoibdgveliidpsr erhoorfevoriedsf sreeetrhasoeirsfcarhreBceshudeesamdirncamehrkeasedrsktemiAntafvionrikrfamoerttamiiotniaofnotniormMtnoatatothioretknhbeetuotbsitunUhseeipnssbedasusasvianitaveetiisaosRtniaoeivnnipadintuoidosrtunrtysit,noryAdn,MuAsSaMtrTyAS,qTTAApuMTuapSbTurlAitbsehTliesprhlsuyetbhsblitshhaBiseusBssiisutnh.seinsssTeBhAsussveiAniaveptisiaosutnAiorpvniaotsioen of this MmaaMmMArrskkaaaeetrrrhkkktteeeMmerUbetttpylaaeUbUpdrrpapykkpaorededdeptttierasanrteUbetgtReenpsyieseptdRpRipnnrtaeoertoogeitpvpnrestaiogoedaoRnrrnetatesntruoonsipnaopennogufdqsarpartaseudoqntqsaetaenuuhruttaaoaeaeperrfrrcdttoqlteeyhhacfurrebeltlyauyehdarmberbtsormeaiaoesmfr.saslstyinitohssTr..kbiehstmeteaTTsmithphmstpieieonaspu.rfspptotrotaTpeuurrihmmntorraepptsopaneoompotftssiuooaeremttrfnrahpokoatnoheteffrotkistttsehehmmtprihteissoaeermprrferetekobtrepihp-ecrutotoitorsssiicrmsirwranttesteiseiospsnaswttotsrsaeooiecrawstdaslsavlieessaisasslbstlsseeotaiauwtsosshassnseceasttihslhonilnecceeamedsuossccurpmsratuusesahtrprnrcerrrayeieatso,ocnnrsimAirtntustcaoMrspsorttntreaaSaafnTortttoiAefehtsftofoTstoothnmsphaffeooeuttsehhambfepeetloriehrmskepfphoter-terersioheceetstewr-s-iotocmbthnpwwosieerystnenhdtoBer-eipiuoscbhddtsworsuiisenbbrstnieoicuusnesrsaesehdisicinnlsinAsastbeetrvtolaesusistisrannsirriiaecacdntginiairesorracd.clsnafrstsrtara.aenfftnitrcdursap. fdt ate markeotfbtyhperemsenotisntgimanpuopdrtaatenotfmtheamrkoestt immpeotrtraicnst maasrkwetemlleatrsicas acs woemll apsaarcisoomnpaorfisothn oofstehomseemteritcricssttoo hhisistotoricraicl tarelntdrse. nds.

Section 1:SReSeSceetsiccoattniioloSe1nen:c1RT1t:re:ioaRRsneaensls1esaa:allTReerecaTTsnrrtaasiolannescsnaTatriccoaAttniioocsAnantcciAAvttiiccviottitntyiivyviAittyyctivity

ReRRseaeslseaallReeeRRtsaeaeittlaeaTiirlRlaTTenrratasaannilscsaTatriccoattniioosannscs tions

WwFolWWeidwFrwFelololdeeieitdrdr-eleldedetWt--wFoleiXdrelQdaetXX-ctQayQaticcottoQyyttnfiiXoo1osoQQQna-nff211scst0-y-t212ioo070QF%nf1l1e1s7F7F%o%-ell2eefto0oee1fftt7F%le%oe%of%t f

Q4QQ-2440--212060Q11466-2016

Q1QQ-2110--212060Q11166-2016 202-2y00e--yyaeer2aaA0rr-vyAAeevvraeegrraaAeggveeerage

ooFlffeFF%elleetoeefttCFlheQCCae/hhQnQtQaag//nnQeQCggheeQa%/nQg%o%ef ooFlffeFF%elleetoeefttCFlheCYCae/hhntYYYaag//nnYeYCggheeYa/nYgF%leeFF%o%elleeftooeefftt

% oCfuCCrruuerrnrreetCnntut rrent Flevest.vvAss..vAAgvv.vggs.. Avg.

BuBBsiuunsseiinnsesBeussJssseiJtJnseeettsss Jets HeHHaeevaayvvJHyyeeJtJsaeevttssy Jets

222,22229,,252992552,295 525552255 525 2.422%..44%% 2.4%2.622%..66%% 2.6%-0.--200%..22%%-0.2%2.322%..33%% 2.3%0.100%..11%% 0.1%2.522%..55%% 2.5%-0.--200%..22%%-0.2% 6,3665,,30355006,350 999999 99 1.611%..66%% 1.6%2.322%..33%% 2.3%-0.--700%..77%%-0.7%1.711%..77%% 1.7%-0.--200%..22%%-0.2%2.022%..00%% 2.0%-0.--400%..44%%-0.4%

MeMMdeeiuddmiiuMummJeedJtJsieeuttmss Jets

7,3779,,34399447,394 191019900 190 2.622%..66%% 2.6%2.422%..44%% 2.4%0.200%..22%% 0.2%2.122%..11%% 2.1%0.400%..44%% 0.4%2.622%..66%% 2.6%0.000%..00%% 0.0%

LigLLhiiggt hhJtet LJtJsieegtthsst Jets

8,5885,,51555118,551 232623366 236 2.822%..88%% 2.8%3.033%..00%% 3.0%-0.--200%..22%%-0.2%2.722%..77%% 2.7%0.000%..00%% 0.0%2.822%..88%% 2.8%-0.--100%..11%%-0.1%

BuBsiunseinsesBusTsusirTnbueorsbpsorTopuprrobsposprops

141,244,21414,241 222929 229 1.61%.6% 1.6%2.12%.1% 2.1%-0.-50%.5%-0.5%1.81%.8% 1.8%-0.-20%.2%-0.2%2.12%.1% 2.1%-0.-50%.5%-0.5%

TurTbuirnbeinTHeuerHblieicnloeicpoHtepertlseicros pters

191,299,21919,291 191090 190 1.01%.0% 1.0%0.90%.9% 0.9%0.00%.0% 0.0%1.21%.2% 1.2%-0.-20%.2%-0.2%1.31%.3% 1.3%-0.-30%.3%-0.3%

MuMltui-lEtin-MEgnuingltein-HEeneHglieicnloeicpoHtepertlseicros pters 8,281,24148,214 5353 53 0.60%.6% 0.6%0.70%.7% 0.7%-0.-10%.1%-0.1%0.80%.8% 0.8%-0.-10%.1%-0.1%0.90%.9% 0.9%-0.-30%.3%-0.3%

SinSginleg-lEeSn-inEgngingleein-HEeneHglieicnloeicpoHtepertlseicros pters111,017,077171,077 131737 137 1.21%.2% 1.2%1.11%.1% 1.1%0.10%.1% 0.1%1.51%.5% 1.5%-0.-30%.3%-0.3%1.51%.5% 1.5%-0.-30%.3%-0.3%

4.044%..00%%

3.533%..55%% 3.033%..00%% 2.522%..55%%

4.0R%ReRRseeeasslsaeaallRleReeeeRRRstaeeelttitealaaTiiiRlllreTaTTtrnrraaasinnnal sscsTaataricaccottntniiiosoosannn-cssstB-i-ou-BBnsBuuisnuss-esiinnsBineesuessJsssseinstJJeseJttssesstJsets

3.5% 3.0% 2.5%

HeHHaeveyaavvJyeyHtJJeseeattvssy Jets MeMMdeieuddmiiuuMmJmeetdJJseeiuttssm Jets LigLLhiigtghhJetttJLJseeigttshst Jets

2.022%..00%% 2.0%

1.511%..55%% 1.5%

1.011%..00%% 1.0%

3.033%..00%%Re3RRRs.e0eae%slsseaaalRlRleeeeeRRsRtaeeeltiteltaaaTiiRillrleaTTTtnrrarasainn.lns-sTs..rTa-a-PcnTTrtPsoPi.orpro-onspTps&sPs-r&&ToTupPTTrsurbuor&irnbpbeisiTnnuH&eerebHHTliieune. lrleiib..Hineeli.Heli.

2.522%..55%% 2.5%

2.022%..00%% 2.0% 1.511%..55%% 1.5% 1.011%..00%% 1.0% 0.500%..55%% 0.5% 0.000%..00%% 0.0%

TSMEuETSMrTSMHbEuEuHeEoErrHeHlbbPiHHleeoiroeeTSMlolPPiilEulpirirEorosHbpHpeosselPilirops

Commentary/Notes on Transaction Activity:

CommentarCy/oC-NmOoommvteemCrnsaoetlaomlnBrtnymau/srReNyine/noeNtstaseoasrstyJleeo/esNntoToRTrntraeeaTsnsnarasoleanansccRaTterticaoitotanionsilAanTcrAaticnvotsintiavyciA:tytci:otyinveit(ayR:Rr Tf)oar cthtivisitsyewgams eslingth,talyfuteprin2.Q7%1 2in01Q7 w1 i2th021.44,% turno-vPeor overerssutsQQ1 2R0R1T6paenrdfoQrm1 2e0r1s5w; ere the

Activity: - O-vOMeveraed-lrliaOuBlmulvBseiuJnreaseitnlsl saeBJsunsesdiJtneLReitgesRshsaeJt eslJeaet lRteemRtsaaeitrlekaTeirlRatTsenrastsatanailscnaTtdricaotonious(santRincaR(RctsTio)RethTna)e2c(a.Rtb6icRve%tiTtis)vytiiantwQycQa1wtisvR1asiRtlsy2iTgs0wplhi0gteal8hyrsf.toulsylpLrigmuigihpnehtrliQysnt.1JuQMep21t0ein21tdu07Qiu1rwn17moit2whJv0iet1e2ht7.r4t2wuw%.4rinatt%huosrvt2nue.o4rrn%vwoetvaruTevsurrne2rvobr.s6evuo%ressP,urQrtvsoh1eQepr2s1s0ue21wsc06Qio1tah16nnd2a1d0n.b61Qde6%1sQat2t1snu0tda2r1n05rQto1;t15ov;e20r1in5; Q1 2017, the

-

(2atMOuR.s4verRnt%edTho)rieatuvaumleblcrnrBetJowuia-t--SavsheiMHPstvcniaiytai-t--Saat--SastoneegtQhyheeiisiMHPcHPnscnovaaleiyriyadeesos1woegt2iegtreetvnvsiiergisovsyoav.luaElsyadeeRaaeede6fsima-t--SairnrmtvotvitehrgJieRrn%JgyisryuMHPEcnyEgyrsLeQefeiysfmsTmsnmoonseigu,otJtiititneJenntnJghtilhg1segovrpaitrleQeseQagdetseehiRtJhiitttr,itsetvRntnenhtnQhehrg1iehsh1yeeuaatEaysRgteseteesfeirsimt,estne,mRsoe1fRinsJnfTtmnsJlstsaaaoataygagsRgeesrRgdedeQeepwe2efnetnJfTirmntmTlmrtntntuhteechtm0g1LetMogdednedpw2pwtesmeiperie1eomgt,mstreRf.reRuseeLMso9oMnon6aanah2RensRg2eailerieer%gtrtretnft.tfnfR.nugTsduimms,sa9on9tornthtRegRe.JEdTedlkalmi%paw%tQtrtntrneeRegnRmimgb,eimr,afeMiLMoJEedTtrntEgTamliQa12mitecsnierneenegnntTmsaf.ifaufsentw9ro1esntQrtr2egrghQtReQicseslacsteve%s2adttrnm0niet2Rtigimn,twirn11tw.r1snatrti1ti07JiETTravkmyeituisv2aes2enneus2ee1%n27a2neiai.f.stmrastwc07re3Tr07ttgTrk0yiQtdtyirbecsneewuni1%uhs,e1%tcenmnai1wnictwrwr13csre3nJstttotitbti5sbAiveihQstts2a,eiho,neeinanea2aoh;iuTfii.senMsssetrcnl071stuTrsAiakynAiiQtHntQaneennuee1%areTfSTfdt2McMebwlcc1rl3u1uaTntatHbH03welihoAs,eeroSrinadSt21t2.cebiebsenT0iPsTTu0t3ws403wAiolQoAtloAnoh%ierit1a.c,i1.cTfon-p0iMPc0iPTulTt14utsa4a1onoHphi%irh%2sQ12Htiretnt,ir,nioS.seodnpt2enipebs6..0asaTe1sc1p86i0i1Qrtp3wiit%tlngtioAwn1tsot.hinse.eeia1.c%%is6es6aa0iP16c2mTewuctiQrt4Qrt%ot%wvdwsh%th2sr,tue0th,ei2eotieanpb1y.t1eewtwirui0sat061ctthtdpniihd12tu2einhunthn2n0%8.2riJseiobio..ts6.teransQrd606c8c0h6ect.nh1Qrtnv1e%vw,s%i0%tho.0%oenoo.1teo.sQesQQ61186ae8wivvettvtrvsdrt%i2Q2.%i.u.1anh1ne1f2ueQeei5ecbi0.ttrng061crrhRrrnt%e2Q1rrg1t2Qeo1naau0%ueoiR0Qo.7i02irnsQomng6n18nrg1Rr1vTti10nvn2on%it1v.edRenQ17eQ270uQe2poeoQe.fT02890rrQrot2t1vQeot1vrnh1anbu00u.0pu1%ie0efrifneot2g811n21rr8efRre1rLhnnrohn20lv.70.ReRiQ7i2sriQceooi2gneo1rne01nftTRm0LvLoolt1vv07hlv7r11iii0iueQscpTQQgcegrefpe1teo7tm2v8rvr2oehorahhran15Jsr1trf0e1.e0esuptvrieepoteo;1nr1cf.r21r2LsrtJose2trtJsftlv7f.s07i0esitue2ueQcMeg10rtt1er.1i1,1imvvs%ruossrnt.ot.h1s.r17st7e72ueM2ir1t1hpttte3o,ni%2,ia%uda%unr2.syn.eJst7te,or0t7frn0rihesuhe1uni%2n0a%2dsw1vya.nw1desremoit.07o0.0n0vwnr,dwidca%%umn.7rJe7.set7we1s6rQoeQo.ehr.0r0nt%r2adf%ia2rJelr.tnf.w1oQ0w1sa6sn63ioe0suttit0vr%nw%au2d1.a1t2QtermQ27Q0e06r0stsQows.t.fnr0%rru18111p1oehe22arJo.w1%6ris66rs.eiets.fnfnt8svi8pohp%on,ta2acaot%deQh%retre0snttvnhrir,tiu,1tcs1c1evde2hdehwtt6r.tsets.hrfnhi5ii8esisp1ova1svlaewoe%y%e.gse.sres5n5,veeacs,mltslci%2y%twtHaQA2deyenhgegtsohh.,t,h0eric6cenmiMmsei2noQ11vitetnnew0%nohohd.l.dserei6e51wS7teaecnQs,eanQSsl%%nynTtb.es0gd2odiocsA1winh,1twt,nQce.0mri2tpt6ebsTnsgbts2oc12ooihs.ihtiv%1nett6en05e0erliersnQeeenpsisc%1nsec;s1tstdftttQyeirr1tw5et5ocesta,Eepspsei;rs;bstoa12orirfntQetsQewnihtcoanae0nprttg2rerstor1hc11refsrifdtomt0tteotoith5neinshd202pstrtrcbse;aideom0oen9m0tQesQcetac0;0gseybiraiaiosa1ven9arfn9oe1ttogeQ;gne;gynny2avtsrstama2deoemdl10ttwdreQyQan0na0asfb,eartiordo1tn9d11Mrahrtaten;rg7fyhefttgtsrosoauothetheetQtrernletseautsgoidi1twnrroamEnfctorofnhoteerhrgetvsonetQientlpsire1ceoso2iTrnfupf01cor0tb.ere92mirn;%siaeninngd

Section 2: ASireccrtiaonft2F: oAirrcSraaftleFoIrnSvaleenIntvoernyto(ryPr(ePr-eO-Owwnneedd) )

SeSceticotnioS2ne:c2At:iorAcnirrac2f:rtaAFfotircFr orSarafSlteaFloIenrvISneavnleetonIrtnyovr(eyPnr(etPo-rOery-wO(Pnwreend-e)Odw) ned)

World-

1-Apr-2017

1-Jan-2017

1-Apr-2016

20-year Average

Aircraft For Sale Inventory AirAcirracfrtaAFfotircFr orSarafSlteaFloIenrvISneavnleetonIrtnyovreyntory

Business Jets

WwFolWeidwFrwFel2olldeeiei2tddr-ele,de3etWt6-wF8oleidrelAQdet/-tAACQyQ1//ttoFC-Cyy2AS1f,o5oF-FpAQAS0fSfr/2-ptC2yr10-oF-2F1%ASfl07epF1F%o%ell7reeft-1ooe2e1f0ftt.2F1%l%7eoefFt%leFF%1o%elle-eft1J1ooee0a-fftt.Jn9F%a-l%e2nC1oe0--h2f1tQCJC0a7a/h1hQnQQna7ag/-/nn2QeQ0Cgg0.h3e1eQ%a7/nQgF%leeFF%1o%elle-eft1A1ooee1-pfftt.A3Fr%-pl%e2Cr1oe0--2hf1tCAYC0a6/hp1hnYYYa6rag/-/n-n2YeY0Cgg0.h1e1eY%a6/nY2gF%0lee2-FF%o%ye0lleefe-t1oyoeea1fefttr.27Fa%A0l%er-vvoCyAeesfetuv.rvvCCaerAssrugru.e.varAAreAngrrg-eevtv0v.vCennge.gs5tut.r.%arArgevengt.

BuBsiunHseeinsaesBvusJysseiJJtnseeettsss Jets Medium Jets

HeHaevayvJHyeeJtsaevtsy Jets Light Jets

MBeuMdseiinudemisuMsmJeTeudJtrsiebutmos pJroeptss

222,3266,,384602822,3628,520,52604212,502111.1210%..20%%11.21%01.1900%..92%%10.9%0.-300%..32%% 0.31%11.1310%..36%%11.3%-0.--100%..16%%-0.11%11.1710%..76%%11.7%-0.--500%..56%%-0.5%

7,406

830

11.2%

11.2%

0.1%

11.6%

-0.4%

11.8%

-0.6%

6,460,42026,402 646141 641101.00%.0%10.01%01.20%.2%10.2%-0.-20%.2%-0.21%01.60%.6%10.6%-0.-60%.6%-0.61%01.60%.6%10.6%-0.-60%.6%-0.6%

8,560

1,031

12.0%

11.2%

0.8%

11.5%

0.6%

12.4%

-0.4%

7,14740,,46301617,406 813,8023105 830111.218%..25%%11.21%11.218%..22%%11.2%0.100%..13%% 0.11%11.618%..65%%11.6%-0.-400%..40%%-0.41%11.818%..83%%11.8%-0.-600%..62%%-0.6%

LTiguLhribgt ihJneteLJtsieHgtehslticJeotpsters

8,15896,,50269028,5610,0113,,01233191,031121.026%..04%%12.01%11.216%..24%%11.2%0.800%..80%% 0.81%11.516%..55%%11.5%0.-600%..61%% 0.61%21.426%..43%%12.4%-0.-400%..41%%-0.4%

BuBsiunMseiunslesBtius-TsEusnirTnbgueorinsbpseorTopHuprreobslpiocsporpotpesrs

141,3481,,31211174,311,211,25519501,215 8.587%..52%% 8.5%8.287%..22%% 8.2%0.300%..30%% 0.3%8.587%..51%% 8.5%0.000%..01%% 0.0%8.386%..36%% 8.3%0.200%..26%% 0.2%

TurTbuSirnbineignTHelueer-HblEieicnnlogeicpinoHteepertlsHieceroslipctoeprsters 191,12919,,220971259,2912,213,29634991,239 6.465%..49%% 6.4%6.465%..49%% 6.4%0.000%..00%% 0.0%6.566%..51%% 6.5%-0.--100%..13%%-0.1%6.366%..32%% 6.3%0.-100%..13%% 0.1%

MuMltui-lEtin-MEgnuingltein-HEeneHglieicnloeicpoHtepertlsiecros pters 8,281,27178,217 595090 590 7.27%.2% 7.2%7.27%.2% 7.2%0.00%.0% 0.0%7.17%.1% 7.1%0.10%.1% 0.1%6.66%.6% 6.6%0.60%.6% 0.6%

6 CAMP SYSTEMSSinSIgNinlTegE-RlEeNSn-iAnEgTgniInOgleeNin-AHEenLeHglieicnMloeicpAoHYtepe2rtl0siec1r7os pters111,017,057151,075 646949 649 5.95%.9% 5.9%5.95%.9% 5.9%0.00%.0% 0.0%6.16%.1% 6.1%-0.-30%.3%-0.3%6.26%.2% 6.2%-0.-30%.3%-0.3%

APRIL 2017 - CAMP SYSTEMS INTERNATIONAL

(Section 2 continued)

[Section (2Seccotinotnin2(uSceeocdnt]itoinn(uS2edc)toionnt(iSnP2eurceeotd-ioOn)ntwin2unceeoddn)FtionrueSdal)e Status - Business Jets

TurboProps & Turbine Helicopters

PPrree-O-O1w8w.n0Pne%reded-FOoFwroPSnrraeSl-deOaFSlweotPanrSrteSutd-aasOltFe-uwoBSsrnuteSa-satdiBnuleFuesossS-sritBnaSJueteaustslisens-SeJtBsaesuttJsuseisntse- sBsuJseintsess Jets Tu1r0b.0o%ProTpusrb&oPTTuruorrbpbisno&ePTrHTuoTuerpurblsibrcob&ioPnopreToPtueHprrroesbslpi&incseoT&puHtreTblruisncroebpiHnteerliscHoeplticeorspters

18.0% 16.0%

18.0%16.01%8.0% 18.0% 16.0%14.01%6.0% 16.0%

Heavy Jet1s0.0% 10.0% 10.0% Heavy JetsHeavMy eJedHtiesuamvyJeJetHstseavy Jets 8.0%

Medium JeMtsedLiuigmhMtJeJetdstisum8M.0Jee%tdsium 8Je.0ts% 8.0%

10.0% 8.0%

14.0% 14.0%12.01%4.0% 14.0%

Light Jets Light JetLsight JetLsight Jets 6.0%

12.0% 12.0%10.01%2.0% 12.0%

6.0% 6.0% 6.0% 6.0%

TurboProps

10.0% 8.0%

10.0%8.01%0.0% 10.0% 8.0%6.0%8.0% 8.0%

4.0%

4.0%

4.0% 4.0% 4.0% 2.0%

TurboPropTsurbSoEPrHToeuplrsiboProTuprsboProps SE Heli SE HeMliESHEeHlieli SE Heli ME Heli ME HeliME Heli ME Heli

6.0% 6.0% 6.0% 6.0%

2.0% 2.0% 2.0% 2.0%

Apr-12 AApprr--1132

Apr-12 Apr-12 AApprr--1143 Apr-1A2pr-13 Apr-13 AApprr--1154 Apr-1A3pr-14 Apr-14 AApprr--1165 Apr-1A4pr-15 Apr-15 AApprr--1176 Apr-1A5pr-16 Apr-16 Apr-17 AApprr--11A26pr-17 Apr-17 AAAppprrr---111327

Apr-12 Apr-12 AApprr--1143 Apr-1A2pr-13 Apr-13 AApprr--1154 Apr-1A3pr-14 Apr-14 AApprr--1165 Apr-1A4pr-15 Apr-15 AApprr--1176 Apr-1A5pr-16 Apr-16 Apr-17 Apr-1A6pr-17 Apr-17 Apr-17

Commentary/Notes on For Sale Inventory:

Co-mHWY/emhYaiel-1a-Ctevh0nHOtoy.ete6tmthhahJ%aecmeievrsiyrulynteoct/rJhnwiArnoN-1a-Ceatepea0HOvttnononrr.retiei6mttynlheatthr%a-1a-i-/2vneseanmeN0lHOT0vtereftdsiihr.c1olynsoetoneo6t-1a-Cevhet6hrtoot%atJhnw0AHOrtee.ooeiseeiifLo.atvnenetapes6ramtiirTlthtlynginhon%aehlrrohsFrteoeiiFhmeynJhlwAaseevean,c/e2iwtofvralynnbctpeeodN0pF-1a-CetJrto1nrdroriJhnrrwaooA1es0aHOuiention0enleneatS6a.rwttpoaetnetsra62vmtt.e.cohntnSaihifg0rirr%0annerrninmiasiyedernyinlmeTt1eslia%vvnuehfoh/le2neFvi62reunerlyn.otoNeeoase0oeetnr.0otdnieaifiJ1hnIwsonIAbctdms1nntrpFteTnteg6ioat7orooetrhpvehoaFedtaeue.otevn1ifneroaseerrctrnasnyrisrioo1yTnettlcnibcetSoaotehgiohrpF./2invcawtyern6onrnf1nNaseeeoina0ueerun%lcnd1onHit2etbc1ts.ornanrnerpF.toyrtec0ea6n5roreatgoiirQtoI:annue1eynet.oa%fcrnatifgeor7urnaynrvsnrrvtA12oT,ctsS.eiae.geireht:ohycte0nFta,ypeaomhneaseeo1WconudtJlnrg2eoet.7ibctf1eenltotpF0hdea1r.H2orttIcMto1rainuetrsuo.l0ygneaoeoo57rvanrefr:1tcea%ciSfo1negnirct6tdnaye1oHhvttr,ng.oeo.riu.yluniseat2te5sf.1naehoQWmt0a%cJ1cHtaeIlr1e1ct2rntvt1.yo,heagho5.7Jtv10yM:otinahs2%ceelheeeWct.1Jt0anevtfto5,erno.eo61aytsdhitft%tnhrflt17hnM.rWocifeisJlvuais1Hlete,sufretarefee.mhyrieaoc5occtotMtdln:ieshtah%lcrontmettiJuefuisveitoin,shoenswa.atmdytrt1achrtyghlrtfMaWie1aJuieosioesnJh.aesmcdn2fhhseecvraltmMu%itteiasetnolibrssdeoJcasoeifnanhcneiebontnictfdtdutuavttlhleoreruetwweiJaaesmiuiisernoscayas,ntceafmmnvtentclntludteuhseeoiJdoucnocwiaJanmonderanhoentybtsQatu1tweatro-notreybhws02a1adtsdirintan%ernym,t0tacwafeoevbselYv1hutscsoafeedi/enb1toecra6mtdYnneot2ieibntsnc.nnwdtenu.otemoe0gbohwstaeQdT1nr%ttoneeyotsewa10e1ietie1cnrni%ncrhsd,neydano1tcauYQme1acsaAni.eh/crbnsi06n1rnttoYnypeoe%abirm,%Qncadd1,rntntYeigseh0wlceai1t1t.d/1ei%er,tbsYnnlseta11-eniTthiYn2dn%echce.atvie/gA0c2nhinuteYns1e1sioe%esnrpsQld1i6i1rnttnninogen%hac.0mr1cvt1oficne%urrl,seeT1tasi1teidfroYin%cnron0calte/-edcmthu.cf2tYno0nsvaieer02neidi%rnrtetdy1e0yghmscltl-,-61e1ntihei2oseas1s.51ii8tvtdei0nTfd1hn,%racel.tT1-eh.1cb5chosoeu2ll6sot0vseeeou%w0r%orda.i.erfne1t80fearnsm2luTcpto6%i1at.tnsoyo0ap0e.foof0iet,rdc1dsfiro%.ftsTdl1Yte05hur-1eaoh2m2cd1/%,o0eravdy0edY0rt.bo.fee2e,o101ifyausw2sf%l1nil5%n6ernt.y0tood1t,a8n.et,lo1i.yibfmosar.s2TQt1T5ftf51uwrhc%od1,goto01%t1hu.dibnom2.fs1oei0ersauw%r.2fffr%m5errcty0afoonto%lno,hui1eismansftfm1f5ererilcrnyd1goT,trethufku.bomln2e8eereruwr%te.eblttyf2fntlnoeoi%hstfferlPrcyaotsihurnmseoerrbvepJflneaeesternelfyaotunlraytsrreaayaldetroisn. g in

10.6i%s foinr sAalpe,irsidlfo2wr0Asn1pa6rlifesirl.,o,f2omdT0roh1s1wa6e1.lni.es6pT,%fhroedoeriornmscLwaAieg1nlep1hn,fr.tri6tdloJa%2ome0gwti1n1ien6n1A.v.fop6reo%rfnimlt2ion01ryA16.bp6.er%ile2inn01mA-6po. rTdilhe2es0t1lyL6i.ignchrteaJesintginsivnecentaonryeainrlyc2re01a5sterodugdhuorifn1g1.0%.

- The inventories of Single Engine and Multi

- H1cO0ue%trahre-A-t-veoaTTTpnyhhhrn8rteeeit.Jlld5,yheiLp%2nai1a0getvsr1n1rheatc6-A-t-tf%nnote.oaTTTJpthghhhnoe8Trsreeeeetrihr.til-t-lasii5,neesoeifaiLpTT%n2glnoevcsohhi0geL8vlveer-A-t-oeeerei1w.eorhgeiasl5TTTncfpso6enthhhipnh%nh8nSeet.orfvtJeeettiehgFi.vlonanoTf5,eerrTJreeeuaeiLprtg%h52rcnrteesyaiianren.b0geelevibft9en-A-t-gntfsirol1gsnrhoelnao%roitLvTTTcynuep6rdEueoctnathhhirnPeeeg8v.asnircaJrfetaeeeogirefn.aerenlohgeoog5,oTSntstfevtrnratthiLpri%t2upeonrdsyfnaiToeoietJes.0geifussvraoegngfterooeryse71f2rahehafLvrlScebdrtft.e6oavoyt0i2inl2ienenagnesT.oierfynnJo%td1b0eEgnuchgndoPsreteSdvTfnuv7aet1raerttlihrrrboateeenrTgeaoireel5MlJebaeiueiforntragnyinrpgesnyosEn,soartpePunegs.lLvbitnseerobnoeilmrilneaeggttgoisofrQycnfdioEwaucyecnrhoPiepEevsrSnnf1rrvnttet.dtbrdniaeeseoiegnoT.sevdaJ2ugeiaunrafrgispeerseony0asreairstMls.nilelsb1oettnrnyneinllend7yfuo.isrgddynioayEancmlPeTfitvinrnQncrMrlndibureaoeeogsocdErrue1aQeunmrabdnipirsnnreMllat2si.igete1snnoecenia10sisugfeErnrfQAimeid1tsonaynermlnleiotd.7ynQHcrnpa2idbg1omoAgsErT%efidsi1nueirearnudnndeo2lipcsriela8Ml2rciegei.deiQnm0bnenr.n0sroise2ugnTi1iec11iiJstTnlnnp%uam1l,leatd7e7yheQfcrt1ils2QrynboeiiTfiEor.nainsfH1rn20euuirdn1ormnngics%eoJraain12geQmnebfrahl0ersr6simcs8ciiyonv1aeinnn1Htan..1lroeme2d7uvyetfecer1Jsorp%1leaTiyonalT.feiniHian28rntc1hur1monrget2iyc%e.naeros2.o2eQum0br2rlit.nmssip%en8J1aci0oriin1%nnayLh.t5a%1eogra2eiey8cifnaJn1sgap%triir.inaiieors.uvstn5nnsHJrto2hoenlemiai%aghya%enanuAdtuJrra1nlrngs2yclsitJpaae8ci2sJuvoiln0ahhna.oetre.meoean21di0yoacnlrJao.p%5g%rtauaaurevutay8rfetoeTlyteiianaei.ynpni1hrtnnam5nl.oouyr1re1irr2%vynsseJuay2aAT.Yedu080eahhit.mgernitp1p0/.on%aytoinl5nhasva5Y%orea.%uvditc8remtrlrood.ltilega.onyhiyfnr15ntforaeTra1otyl%rro22ya1h2oueAyr2l.dnd0yk1.rimgr0t.mstp0gge1ya0oT.obluh01ahi5re%%etynaidp%8sel5ri1l.oh.ssvtigya.nia.rc5en1aeiffmoTeTnyeoul%h1hnh.ssnulA.pd5rayo1aitibgsstops%T.runoclo0uekhmhiarnpgeyd%ihpmeilrsvo.agetaan.icesYemfrheTsnykhn/t1ahal.fgtearYyat1oaiilmsosetrT.nrufokd0Elchirbhsnageesypo%iinanouefusvetmoriw.gcpsmeseggmrhsrrhanniba1tiifeYeesannhaotloe1s/stonrltrrenoY.tymkcbai5rhmstgeynu%fouedeuTretleriopmeeutisrpnhsi8trenmnaiawrvgm.aYefnb0odlce/tisst%1tierYrionhainhnbl1msswfgd.toueeacr5heooipmieu%ntiennmhHfnwrgYergi8et5neci/th1ti.etrnnY0.huail1e9mit%src.tfdcr%5rh8eeofoiu%.enon0mrwpgart%i8renitn.1tisn0neh1odt%.rtc5mhs7u%ehr.er2i8aen.%nt0vit%mereersepwmeitachitniveedly.

levels of 5le.9v%elas nodlfe5v7.e.92l%s%oarfleen5sdvp.e97e%ls.c2oat%ifvn5erde.l9ys7p%..2ea%cntrideves7pl.y2e.%ctriveesplye. ctivterloy.ugh of 11.0%.

Section 3: AskinSegctPiornic3:eAssk(iPngrePr-icOesw(Pnree-Odw)ned)

Section 3:SeAcsktiionngS3eP:criActisoeknsinS(3gPe:rcAePtr-isioOckniewns3gn:(ePAdrsie)ck-eiOnsgw(Pnreeicd-eO) sw(nPreed-)Owned) 1-Apr-2017

1-Jan-2017

1-Apr-2016

For Sale Asking Prices1-Apr-20117A-Avpgr.-A210s-k1Ai7npgr-P2r10ic-1Ae7pr-1A2-0vJ1ga7.nA-2s0k1i1n7-gJaPnri-c2e10-1J7anQ-/2Q10-1J%7anC-h2a01n7ge Av1g-.AApsrk-i2n0g116P-rAicper-210-1A6prY-/2Y10-1%A6pCr-h2a0n1g6e For Sale AFsokrinSgaBlePuFrsoiAcinrseeSksaisnslegJFeAoPtrssickSiaenlsgeAPAvrsigcke.inAsgskPirAnicgvegPs.riAcseAkvinggA. vAPgrsiA.ckAievngsNgk./iPAAnrgsvickgPei.nriAgcseAPkrviincgge.QAP/rsiQAckievn%gNg.C/PAAhQrsiack/neiQngg%ePQCric/hAQeavn%gg.eCQAh/sNQkain/An%AggvegCP.rhiAcaseAnkgvingeg. APrsiAckYiev/nYggN.%P/AArCsickheinYag/nYgP%ericCeYh/aYn%geCYh/aYn%gNeC/Ahange

Business JBeutsineHseBsauJsveiyntseJsesBtsuJesitnsess Jets

N/A 14N,4/1A1,653N/AN/AN/A15N,1/1A1,047N/A N/AN/A N/A-4.6%N/AN/AN/1A4,6N7/1A,484N/A N/NA/A

Heavy JeHtseavMyeJHdeeiutasmvyJeJHtesetsavy Jets 14,411,65134,4113,,61159438,4,181551,0,16115413,,401417,56,513113,,02143576,1,41319,01457-,41.161%,047 -4.6%-114.2,-6%47.61%,4814-44,.667%13,,43186442,6,47312,41844,671,4-814.8%

Medium JMeetsdLiiugmhMtJeJeedttsisumMJeedtsium Jets 3,198,8503,1981,,8658300,1,19308,5,2835360,,149389,38,520361,,4636396,2,53164,4339-,12.326%,439 -1.2%03.8,-3%16.22%,432-31,.326%21,,4730323,3,76125,4332,362,4-342.9%

Light JetsLigBhut sJienLteisgsshtTuJerbLtsoigphrtoJpests 1,680,1051,6801,,1302157,6,78120,7,6160165,,658104,11,065661,,5318144,6,96667,5114,06.686%,514 0.8%-41.1,7%00.83%,71510,.780%31,,7316158,7,70630,7115,703,7-115.4%

Business TBuurbsionTueprsrboBsiupnTsueirnbHeoespslBircuTouospirpnbsteoesprssrTouprsbop1r,3o2p7s,7271,327,7217,3N21/7A,,3782147,,392677,17,23784,9617,3N8/4A,9617-,43.814%,967 -4.1%N1/,-3A46.18%,760-14,.316%8,7610,3N6/8A,7610,368,7-630.0%

Turbine HTeulircboinpMeteTuHurlsetrib-liEicnnoegpTiHntueeerbrlsiHcineoelpicHteoerplsicteorps ters N/A 2N,7/1A0,226N/AN/AN/A2N,6/3A6,987N/A N/AN/A N/A2.8%N/AN/A N/A2N,8/0A1,432N/A N/NA/A

Multi-EngMineultHSi-eiEnlngiMcgleouin-pltEeit-neEHgrnseMignlieiucnloetHip-eHEtleniecgrlsoicinpoetpeH2tres,e7rls1ic0o,2p2t6e2rs,7101,,2029261,7,71200,8,6232266,,791807,22,266361,,9182275,6,83969,9827,26.386%,987 2.8%-32.0,8%20.81%,43222,.880%11,,4133220,8,20213,4322,801,4-332.3%

N/A-1.8%N/A -1.8%-4.9-%1.8% -4.9%-1.4-%4.9% -1.4%-3.0-%1.4% -3.0% N/-A3.0%

N/A-3.3%N/A -3.3%-3.4-%3.3%

N/A -1.8% -4.9% -1.4% -3.0%

N/A -3.3%

S$$$$i5678nMMMMgle-EnSg$$$$i5678innMMMMge$$$$$leH45678LMH-eAMMMMMEiS$$$$egAvleni5678hacnedgvvMMMMtrgoi(iyeuaJRnlpegmerJiegtteea-ehtEJHgASs$$$$retLMHns(eAi5678setinARgegksvlMMMMeigxhaiiceAdinnivgtlsrLMHoie(gAysuaJRhi=pe-gegmve$kJiHEthagtteeeHdLMHeniveAA-thtrinJie(AegygsruaBevltJRxsaihagesgmcteiuJdAinvikvsgtteersoi(xyeyiuaPhtJRiJn1iApsneegsmtJ=Jigr,Hegstteet0A=LMHiekstheAts$cH9JisxAsriegsHetvl1ne)sie-ishaestceJeAd,gksB:ve7ta=aroxi(iy$uuta0JRnBvivpsHesgm8syJgi-ygtitueee1=neBJ$hta,JseJAeHs0ruetvst-sie9stesyAnsBksi1)atnxJsiueJ,vneiee7ss)ystgst0i1s=nsssJ8)$,ee0HJ$$$$$te-Js9s11112e1stB1)ea24680s,Ju,1tvMMMMMe7ss2yt0i15sn8J,,ee08ts99ss$$$$$1)911112J,1e724680,t01MMMMMs$$$$$$$$82121111125..024680,508$$$$$MMMMMMMM9111121924680,1MMMMM25$$,128$$$$$A..911112501v9-24680MM,$$3e1MMMMM12.r20..a505$$%gMM,12e8..950A9(MMAsRkv-igi3enh$$.rA0gAat12%vgv..$A50eeexA-MM1riAraTsv,-(a1sg3RPe=k3ge.ri0giaM0oneA%hg,p(g(2EstResRA2kA$AiHAg&3iisv(nx-g-eh1sR3eikgHlkTst,hi.r1g)i0iP$eaA=ntn3h%rlgxgA-iM0otgeciTs,p$Aox2EAPs=Ppxi(2-1srsRHit&3MorTsk,ei1eigP=pi=rcnHlE3hsris)gM0eoeMtH&,pl:$A2eiEEcsH2lxT-oi1H&i)3eTsPp,He1lP$$$t=iHlr3ecier223)oeM0oor...ls050il,ppp)i2EMMMc-tss23oeH&3.rp4&est%Hlei)$$$eHrs223liec...050oliMMM$$$$-p31223t.e....45050$$$r%MMMMs223...050MMM-3.4$$$%223...050MMM-3.4%

$4M $4M$3M$4M $4M $3M $3M$2M$3M $3M $2M $2M$1M$2M $2M $1M $1M $1M $1M

$10M $8M $6M $4M $2M

$10M$8M$10M $8M$$16.M0$M8M $6M$4M$6M $4M$2M$4M $2M$0.5$M2M

$10$M1.0M $$01$$$$..246850MMMM$0.5$$MTSM01Eu..E50rHbMMHeoelPil$$iro01p..TSM50sEuMMErHbHeTSMoeEluPiElrirHbTSMoHeEuopeElrPsiHlbirHeooelPpilirsoTSMEupErsHbHeoelPilirops

$1.5M $1.0M $0.5M

$1.5M $1.5M $1.5M $1.0M

$1.0M $1.0M $1.0M $0.5M

$0.5M $0.5M $0.5M

Commentary/Notes on Asking Prices:

CommeC- nDotemaspmryitee/nNC-ataDoorreamyt--Js/lelpmyNeDDsitoiteeenC-eAotnssDeoQppAatnesamiiP4ttsroeeraA$pmyon/laaihlftseyNAC-ea2knrgoDias0onvatioktn1aelemeliQoyn6rsrgsaybdpmg,4ino/lHeiltyNPesPoneeeQtrnorfaiinnaAcia4t2rcavetsQd0orkyerts1aeyoif4:n6oJs/lc2lge,yoNtn:l0hiHtfnoi1PAneeA2it6rnesi0aQy,vcgk1seHevie4n6osyaresgi,aon:nraJHgfcfePvAoee2ertyisar0cAkAaJM1veievns6ysreketg,e:iJdnrHAceaPigeuvetrgsieamncPAienrvtervaiyAcJcpsege:eseJerektaesaitngtaA(krAagAesinnkArvPAeisnePMrasicg$crkcaa)ieenPtgrfiscgnoerei(chnltAlPAes-2prA,4sis0ct.kPe(6h1eiA$n%5eas)gA.(kAifnPAePA$iAlrQnli)Pc-P14f$eM$e.2s6i)lnl0a%(f-eA1t4rhi7l.cAnl6is-aP%h4Qs$n.e61i)2dng%f02emQw01ilnl1e1e5-7Qrn42.e.ta016dw1n%27oda0iwans1w7nndQedoa-r11ewnw.28dnde0%o1rw-e47wYe./d9anrYe%on.-dw1dY.ono/8wY%ww-e1anYr.nen8/-%dY1dY.8o-Y/1%Y/w.Y2nY.-%3/-Y1Y.0.T8D%%. aYM/nYed.diuYmTD -4.1%.

- Desp- Diteespaitera-alDlygeoi-snpoInditQ-etshD4taeaerosgLtpiofgtiotoh2-edtt0DhaJ1eseetg6satpyo,rsetieotHaetgdoermasftaothegarvenorMyttoy,tedoJAdaeAstirhtutPafemo$rtrywJtMeoeeaetrtrehdtrfeaioluarnmyrMsgea-eJaeceIlrndyttfiioouuttrnhrnmasMcen,JhsteehLaaditecngitutgArhimaoeAtndPJJsae,$eYtcTthinDtersioate(hAn+gis0A,am.sP8tech%$egtei)omnnaAnttenA,sh,ndAiPstth$YAswe/inPaYgA$stm(hA-d1wiePso.n$4sewet%irnnwge).mt-ah4lOasei.s9dvnr%sgeoterewYga/lmanlyYl sLe-a4idgn.no9htd%wt J-naY1e/s.-t2-Y4dA%.A9aoA%YnAwPTdn$YPD/-$.-a1Y4r.M.fe2a9o%e%ndrdoYYSiTuw-/iD1nYmn..2gaf%MrlnoedYemTEd-D1niau.2gmr%MeinceYeedTnDiuHt.meMliecdoiupmters are

AverJaetgAeAAP$sJkheiantvgApeAePbPaJre$ekicethinneAadOsvAeAPcJc$tbeAoliehtnbPaeAine$nvAgr)ed2Psf0$beien1echc6llelaeinb-nv4iauned.tg6rebeh%sceacinleeivncinneientdtgQrapeees1cnrienaldicnkeienidnngatuMsprpieaunecsrcnacineechkcnahiet2na0praMe1en5crage.erkcecniehtndnp2MtYe0taTa1roDr5kcu.ih(ng+h2M00ina.185rmc%. hi)d2-a20n0115d4. .Y/Y (-1.4%).

down YTD -3.0% and Y/Y -3.4%. This is the

2017- Iannthde wLig-ehInrtetJ-hedAetoAs-LeiPwIgng$hnmtfthoeJ-r1enT-Lt.ui8I,gsnrAe%bhtgAtohmJYPePer$/eoLtYiwnpgs.etseh,ghtrAemaJAelveaPtenr$sgtebw,egeAleymeArneuePnt$nlarctewr,hgnAaedeAnrlieyngPglue$anddOrwgcoYeehvwTraleeDynnruwl(aag+naerl0clgrd.Lhde8ia%YlgysTni)hnDugactne(necJ+ddeh0thYa.Yt8eTn/%ADYgs)Ate(aa-+dP1rn0t.$4.Ydo8%Ta%fYD)2)/r.e0Y(a+O1(n0d6-vd1.8oae.%4Yrnwa%/)dYln)la.aL(nfi-rgOr1deoh.v4Ydmte%/oJrY)eaw.at(lln-OA1LiY.Avg4/ehP%Yrt$a)-.J3alle.OrL0tei%gvAdehAaortaPnwJ$ldeflinLrtaYsigfArTtreoDhAtmtdiP-mJ4o$ea.w1eat%rnrAeet.cAfhrdeoPisonm$wmtaanreerfertdorciomcewnahnt arfersocmbeneaterencbenetlow $1.1M

- DJeetstpp--raAAieteaAAnkPPsaa$$incffgooOtp--rroicoAASTeotuionaAAnrdgbb-2-kPPs0,YAleo$$iesn1/trPAtp--ffY5hEaoo2OrPAAeo.n0errAr$caAApg1tSTAtufks6iPPAontoPr$$hoiegbbrnA$afflSueop--eHootOfPvitAAorPnehrereE$ch2rgraAAeSTloni0atMbuclikPPioenpg1nvreoy$$guibbs6ineEnepelleotffhtneboonOhtitarPageruErrEeHi2rctvirsrntoSTnrnsn0eetugihfpegosn1dalonriieabcgs6ibnernHderveoeghleoedbeienMaeprPdmuHlHgiuEn2rvtctotoeenerpe0eoeedhwtplgr1lidrsipncasobencns6iindanotivwneotuheebYcerpdepanermTuedstHintDtwvnetedraeeaegurthar-osrrlsnp3ieaerbcrdwad.edanv0eosdorncerid%esenpewoiedniYcnttdwrtadnnerTceergueotDwtnenorerpscnweadtdwnaYr-dateno3snohrTdnrYierd.eunDnwee0/-edYcgi3Yt%nsnd-sTd.ieh3guntp3D-woaa3n.pc%ia0enudwa.rtn-e4%t3sorpaYdtrnm%dio.ernt/0woakh.fYcYics%sdunne2/iTieieTnnbgn-YdDw0han2sccuh1ati0-atnYsO-eat63e31idt/rrin.rurds.e4Yta4co0hpaY.tmc%no%uts-he/3ieod.+fgneYird.anse22bc4hTta--ftn0.%ahe3c2i8erri1dtnsi.e0r.%sre4trt6o1hmY%iTdotn2s4uYaeih/m.fo.0ttigTYndihsD2sw1hTtedt-e-0irh.a263snoi1tain0f.rsthT64ituYbh1rrhims%eso/4eagitusY..mtfidnthdhtfmi2i-mdTore-3h0sh2iewt.tne1aai0f0rtsit6nrr%cr1itvmisiemcsh4taYehai.tdetsnih/hadinmYodametsd-hws-e2bae3fiYsbin0re.trs0Termhe1eitYD%cie4sdtn/eiYn-hm.aot4branw-ii.ence13sdn%.tltotbh0rhhiY.Y%cwae-ieTs/seDhsYa$m$Ynbia1nn2-/ee43s.bd.cY15e.tbe10MrMeYniA%elcoT-esbAD.m$whaine3aPn-c.$il4bosd7$de1.5ewb1.-fYM1m%l2oeoTM$0e.rDwi1rdan1M.s--1$in5n4bMu1g..ce1.le1te%slioMinsE.mwicnnsiecid$gne1-cimn.e1eidMm-Hsidien-lciceompitde-rs are down

was2d01o5w. n -240.195%2.01Y24/0.Y15a. nd201-15..2% YTD.

- AAP$ for TurboProps have been trending

-3.3% Y/Y but up +2.8% YTD. This metric has

Med-iYu/mY AJAePt-$YAf/oAYr PAM$Au- PlYth$i/aEYfnovAgreAiMn-PeYbu$/leHtYfioeeEArlninAcMgoPdiunp$leettfieocEHrrnsleiMgnaliciurinneoletgpidHEtoenewgrlsicninaoe-rp3eH.t3ede%rolsicwYao/dnrYpeo-tb3dew.uor3stn%wauwnpYre/-a+Y3d2r.3bdo.8%uw%stnYiunY/-pYTc3D.+be3.2%u.Ttt8hhYu%i/espYYm+sbTteD2ua.t.t8rri%ucTthpohYisa+TfmD2s2.be80%etT1rheic6YisnThmaDina.nesttdhTbrhieceiase$hmr2nae.e5sinMtbrtiec-h$eh3n.a$7i2s5n.bM5tbeMhreea-$nen$3n2gi.n7.e5i5ntMhsMietn-h$cr$a3ee2.n7.$5g52MeM.5-s$riMna3cn.-7e$g53eM.7sir5naMcnegreasningceesince 2014.

2014. 2014. 2014. 2014.

This month's AMSTAT MarTkheist mAonnatlhy'ssisAaMrtSiTcAleT, MinacrlkuedtiAnngaalyllsicsoamrtimcleen, itnacryludanindg naoll tceos,mwmaes nwtarirtyteanndbynoAtensd,rwewasYworuitntegn, bGyeAnenrdarleMw aYnoaugnegr, oGfeAnMeraSlTAT. AMSTAT is the leading provider of marTkheist mreosenatThrhc'shisAmMiinnMdoafSouTnnThrstaAhmtisrgT'ymsae.MtAroiFaooMonTrnfhktuShAeiTnsa'AtMdsnmATeAdSonMdTMnsAaaeitSnTlhryrT.vks'A1sieiAs9TctA8MaeMAM2srSt,antiTScaoarATklneAlTeytd,hTsitsiesnMAbtcahacnalerouastrekridlclypeedilsneoatisig,rnAdaainiaTtnriceatlnglicltcuayoplvsdoenirism,ioanFiatvngmaiircodtlaelilnsceul,nlrdeNictonai,noJfdri,gnmymuAcamsaMlutnllrredSkdcynTei.onAnttamgFoTrreotimaynesuletalsern,caonwdodrdtcaemauhdnrscymoiewinatnedefrnoinst1dttr,thme9awenn8rayao2cbtstai,ooeywnannsAnd,rciawtndetnndeapobdrnstetaewsobswesefyr,driYptvwAtoireicaonnunedsvnTsibrwgdetiy,iornwniGtAtgttoeYhenrnonedneuersbFceenrayoawgalrAll,rpscYGn,oohdNreeuarnendJtee,gwirnA,aaYfGMvoloieraumSntnTieaogArtn,aioTGlneitnnoterroadl uced the concept of providing researMchaendaginefrMoorafmnAcaaMtogiSroMepTnAroaorTtna.ofatAAecgMoMeMarSrSvpaToTioaAnAfratTTAia.ogtiMsneAetSrMpahToverASoifTalfAe.etiaMTsoAsdiniSsMoiTntnApShgaTrTeAo.lpslTf.erAeoiassMvsdtiidhSoinTenAgralTeolpsaifsr.odmthvinaeidgrkeleperartoodrfevinmisdegaeaprrkrcoeohftvmriidneafesoerrkramoerftcamrhteioasinenrfkaoearrctnmrhdeaissnteeiofaornvricmcahenasditnitofosonertrmahveinacdetciososentrporavotinchradetsescetoarvrvptihciaoetriasoctnoeorpathoveiraacttioeornapvoiraattioenaviation

industry. iFnoduunsdtreyi.nddFinousu1tnr9yd8i.n2edF,douauisntndry1d.9be8aFd2os,eiunadnn1di9dne8bdT2ina,inatsoen1ndd9F8ibna2a,lTlsasin,enNtdodJni,nbAFaTaMisnlelSstdo,TANninTJF,iTanAinltlrMsto,oSdNnTuJAF,caTAelilnMds,tSrtNohTJAde,uTAccinoMetnrdSocTdAtehupTectinceotodrfonptdchrouecvpciedtodionnfgtchpererepocstveoiodanfircncpgehropervetdisodeinfinafpogrrcromrheveaisdedtiianoingrncforhteoremsdeaaintricofohnremtodaitniofonrmtoation to

corporatecoarvpiaotriaoctnoerpparovoirfaaecttsioeosirnoapnvopairaaolsttf.ioesnasipvoirnaoatfieloss.nsiopnroafles.ssionals.

MAY 2017 CAMP SYSTEMS INTERNATIONAL

7

APRIL 2017 - CAMP SYSTEMS INTERNATIONAL

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