INSIGHT Issue: December 2016 Hamburg, January 11th, by WINGX Advance / Actionable Market Intelligence for Business Aviation

www.wingx-advance.com AIRCRAFT ACTIVITY TRACKER INSIGHT Issue: December 2016 Hamburg, January 11th, 2017 2013 by WINGX Advance / Actionable Market Intelligence for Business Aviation

Executive Summary: December 2016 There were 32,816 business jet departures in Europe in December 2016, 3.8% up YOY, taking the FY 2016 trend to +1.5%, >7,000 additional business jet flights compared to 2015. December s growth in business jet activity was relatively strong: a net increase of 1,215 flights, 277 additional from France, up 6%. Italy and Switzerland were also up 6%, and business jet flights from Spain were up by 8% YOY. AOC missions - 58% of all flights and up 7% YOY - were again the driving force in business jet activity growth. Double digit growth in AOC departures in 3 of the top 5 markets. Also 6% growth in AOC flights from Russia, +15% from Turkey. Arrivals into Europe this month were well up from Middle East and West Africa, down on transatlantic routes and from China. For FY 2016, flights from North America were up 3%. Within Europe, Eastern Europe had most growth this year. Super-Light, Light, Very-Light and Super-Mid business jets had YOY growth close to 10% in December, with the latter 2 sustaining 10% trend for FY 2016. Heavy Jet activity was also up this month. The 2 declining segments were Midsize and Entry-Level. Bombardier and Embraer fleets had largest growth in YOY activity. Cessna activity was up 2% in December, flat for FY 2016. Dassault jet flight hours were down 8% in December, trailing by 6% for FY. Dassault AOC flights -7% in December. Busiest business jet, Citation Excel/XLS, flew 3,662 missions in December, up 9% YOY. Global Express activity was up >15%. In AOC flights, Falcon 900 activity fell 5%, Falcon 2000-15%. Falcon 7X Owner flights were down by 8% YOY. Conspicuous growth in business jet departures from Geneva and Nice: +24% YOY. Largely the growth was from AOC demand, also notable at Vnukovo. Contrastingly, business jet departures from Sheremetyevo were down >1/3. 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 2

Table of Contents: December 2016 Insights Section 1: Macro market trends Section 2: Origins & Destinations Section 3: Types of Trip Section 4: OEM Competition Section 5: Aircraft Segments Section 6: Aircraft Types Section 7: Airports Trending December saw relatively strong growth. Middle East was well up, North America arrivals down. Big growth in Charter & Fractional flights. Bombardier and Embraer flights getting lots of growth. Notable increase in Super-light and Light jet flights. Strong growth for Global Express, Phenom 300, also CJ2. Resurgence of flights at Vnukovo, Geneva, Le Bourget. 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 3

1. Macro market trends 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 4

Activity by Aircraft Fleet Category Slight decline this month, but compelling increase in AOC business jet sectors, up 7% YOY, offsetting the 1% slide in Owner flights. Both Prop and Piston activity was down. Departures December 2016 Private Commercial [AOC] Market share YOY: Private YOY: AOC YOY: Total Business Jet 41,0% 59,0% 32.816 62,6% -0,6% 7,2% 3,8% Business Turboprop 59,3% 40,7% 11.408 21,8% -1,8% -1,9% -1,8% Business Piston 77,6% 22,4% 8.195 15,6% -12,1% -19,6% -13,9% Total 50,7% 49,3% 52.419 100,0% -3,9% 3,0% -0,6% 100% Note: The WINGX INSIGHT includes commercial (AOC) flights and non-commercial (private) flights, except Origin= Destination Flights [mainly Training flights]. AOC flights include Charter as well as special flights (government, air ambulance). Non AOC flights correspond only to owner (private) flights. 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 5

Flight departures across Europe Strong growth overall, particularly in West Europe, notably France, UK, Spain, Italy, Switzerland. Also 6% growth in Russia, and 13% YOY growth in Turkey. Total Europe: +3,8% December 2016 YOY IS 24,0% 14,5% NO 0,3% -14,5% FI EE RU 5,5% PT -5,4% 8,8% IE 8,4% ES UK 3,7% BE 6,1% 5,9% F 2,9% LA -19,8% SE LT -0,6% -16,3% DK -14,6% -10,8% 11,3% BY D NL PL 0,5% -3,1% UA 12,1% LU CZ 16,4% SA MD -8,8% A HG -63,9% CH -1,7% 0,0% -20,3% 5,9% RO HR RS 16,1% 28,6% BA I -5,3% -23,3% BG 5,7% TR GR 13,4% -0,8% CY 25,5% MA 26,1% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 6

Relative impact of key country markets All the big markets except Germany saw an increase in YOY activity. 277 additional flights out of France, and a further 200 from small markets. UK was the busiest market. Departures 35.000 32.816 5.201 30.000 5.010 25.000 4.404 20.000 15.000 10.000 5.000 2.814 2.350 1.749 1.308 1.263 1.263 659 632 511 437 396 382 4.437 0 Total [December 2016] UK France Germany Switzerland Italy Spain Turkey Russia Austria Belgium Sweden Netherlands Czech Republic Ukraine Ireland Other [29] % of total 100,0% 100 10 0 15,8% 15,3% 13,4% 8,6% 7,2% 5,3% 4,0% 3,8% 3,8% 2,0% 1,9% 1,6% 1,3% 1,2% 1,2% 13,5% YOY growth [(+/-) departures] 1.400 1.200 1.000 800 600 400 200 0-200 1.215 184 277-140 158 127 136 155 66-22 38 18-62 47 2 31 200 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation 5/11/2017 7

Year to Date analysis of departures December increase of 1215 flights concludes a relatively strong H2 and a FY 2016 trend of +1.5%, 7045 more business jet departures than in FY 2015. +1,5% 7.045 491.339 484.294-1.441 1.050-712 1.330 599 519 2.208-788 2.158-6 913 1.215 Δ Jan Δ Feb Δ Mar Δ Apr Δ May Δ Jun Δ Jul Δ Aug Δ Sep Δ Oct Δ Nov Δ Dec Δ Total YTD 2015 YTD 2016 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 8

How did December 2016 compare to previous years? Business jet flights in December 2016 were 11% fewer than in the pre-crisis peak December, but higher than in any December since 2011. December 0 Departures 10.000 20.000 30.000 40.000 YOY growth 2006 33.566 12,8% 2007 36.732 9,4% 2008 31.041-15,5% 2009 32.967 6,2% 2010 36.147 9,6% 2011 34.290 2012 32.312-10,7% -5,1% -5,8% 2013 32.551 1,2% 2014 32.124-1,3% 2015 31.601-1,6% 2016 32.816 3,8% Ø 33.286 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 9

The long-term businss aviation activity cycle Total business aviation activity has flat-lined in the last year, although business jet flights are clearly recovering, in contrast to fast-falling L12M trend in Prop activity. Departures per month Last 12 months growth [in %] 90.000 80.000 70.000 60.000 50.000 40.000 30.000 20.000 10.000 0 Start: Jan 2007 End: December 2016 Total departures [y-axis, left hand side] Last 12 months trend: Total deps [y-axis, right hand side] Last 12 months trend: Jets only [y-axis, right hand side] Last 12 months trend: Propeller only [y-axis, right hand side] 16 14 12 10 8 6 4 2 0-2 -4-6 -8-10 -12-14 -16-18 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 10

Business Jet flights only Small jet activity has continued steady growth trend, now around 4% for L12M. Large jet activity has steadied just >0%. Decline in Medium jet activity continues, though ameliorating. JETS ONLY Departures per month 60.000 55.000 50.000 45.000 40.000 35.000 30.000 25.000 20.000 15.000 10.000 5.000 Last 12 months growth [in %] 20 15 10 5 0-5 -10-15 -20 0 Start: Jan 2007 End: December 2016 Total Jet departures [y-axis, left hand side] Last 12 months trend: Large Jets [y-axis, right hand side] Last 12 months trend: Medium Jets [y-axis, right hand side] Last 12 months trend: Small Jets [y-axis, right hand side] -25 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 11

Flight hours development in the last 24 months There were 55K flight hours operated in December, a sequential month decline but a 3.3% YOY increase, boosted by 5% increase in AOC flight hours. Flight Hours [in thds.] 100 80 60 53,0 50,7 52,0 49,7 61,8 61,0 60,3 59,0 72,3 72,5 81,9 81,2 89,6 87,1 78,4 76,1 73,4 76,9 69,4 68,5 58,8 57,2 55,0 53,2 40 20 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2016 vs 2015 2014 2015 5 4,7% 4,8% 2,2% 2,8% 0,4% 1,2% 2,9% 3,3% 0-5 -1,3% -0,9% -4,3% -2,9% AOC flight hours 10 5 0-5 -3,8% 4,9% 0,3% 3,8% 2,5% 2,6% 5,4% -2,0% 8,5% 3,0% 4,7% 5,0% Private flight hours 5 0-5 -4,8% 4,5% -3,1% 0,4% -2,2% -4,8% -0,4% -4,2% 0,6% -0,7% 0,9% 1,3% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 12

Top country markets activity in December YOY UK and France were the busiest business jet markets in December, both growing >3%. Spain, Russia and Turkey were the fastest growing midsize markets. Big decline in Netherlands. Departures December 2016 5.500 5.000 UK France 4.500 Germany 4.000 3.500 3.000 Switzerland 2.500 Italy 2.000 Spain 1.500 1.000 Austria Russia Turkey Ukraine Czech Republic Sweden Belgium increasing 500 Netherlands Greece decreasing Portugal Poland Denmark Finland Ireland 0 YOY growth -12,0% -10,0% -8,0% -6,0% -4,0% -2,0% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% 14,0% negative moderate high 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 13

European growth pattern in Top 20 countries YTD December growth trends were above YTD trend, taking all but 1 of the top 7 markets into FY growth for 2016. Turkey and Russia had largest 2016 declines, respectively 13% and 8%. Total departures Top 20 countries (2016: YTD) Additional departures per month YTD growth YOY growth France 80,860 UK 69,411 Germany 63,361 Italy 46,941 Switzerland 34,127-24 167 178 82 26-0.5% 2.5% 3.2% 2.1% 0.9% -3.4% 5.9% 3.5% 6.0% 6.0% Spain 33,396 Turkey 17,475 Austria 15,909-218 13 140-13.0% 5.3% 1.0% -1.6% 8.4% 12.6% Russia 15,761-116 -8.1% 5.8% Greece 10,479 41 4.9% -3.2% Belgium 8,766 1 0.1% 7.1% Netherlands 8,485 37 5.5% -10.7% Sweden 8,262 24 3.5% 2.7% Czech Republic 5,896 11 2.3% 12.4% Ireland 5,625 29 6.6% 9.5% Portugal 5,236 Ukraine 4,943 Poland 4,594-69 0 12-14.3% 0.1% 3.4% -4.1% 0.0% 10.6% Denmark 4,422 Serbia and Montenegro 3,789 98,4% 1,6% -7 17-1.8% 5.8% -0.6% 17.6% Top 20 Other 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 14

European growth pattern Top 20 by flight mission All the growth in busiest markets came from AOC activity, with >10% growth in France, Switzerland, and 19% growth in Italy. Spain also had strong growth in Private flights. Total departures Top 20 countries (December 2016) Private AOC YOY: Private YOY: AOC YOY: Total UK 37% 63% 5.201-2.2% 7.5% 3.7% France 44% 56% 5.010-0.7% 11.7% 5.9% Germany 43% 57% 4.404-5.5% -1.1% -3.1% Switzerland 36% 64% 2.814-4.2% 12.8% 5.9% Italy 39% 61% 2.350-9.7% 18.7% 5.7% Spain 31% 69% 1.749 9.1% 8.1% 8.4% Turkey 78% 22% 1.308 16.5% 3.7% 13.4% Russia 43% 57% 1.263 4.3% 6.5% 5.5% Austria 36% 64% 1.263-6.0% 0.9% -1.7% Belgium 32% 68% 659 9.3% 4.7% 6.1% Sweden 34% 66% 632 Netherlands 43% 57% 511-17.0% 19.8% -3.9% -5.5% -10.8% 2.9% Czech Republic 23% 77% 437 4.1% 14.7% 12.1% Ukraine 47% 53% 396-0.5% 1.4% 0.5% Ireland 51% 49% 382 22.0% -2.1% 8.8% Greece 49% 51% 381-6.9% 6.0% -0.8% Poland 35% 65% 336-11.4% 28.8% 11.3% Portugal 41% 59% 334-13.4% 1.0% -5.4% Denmark 26% 74% 317 20.3% -6.4% -0.6% Finland 37% 63% 288 11.6% -5.2% 0.3% 100% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 15

European growth pattern Top 20 by fleet category The aggregate decline in activity came from falling utilization in Turboprop and Piston fleets, especially 26% decline in Piston flights from Germany, 18% fall in Turboprop in Spain. Departures December 2016 Business Jet Business TurboProp Business Piston YOY: Business Jet YOY: Business TurboProp YOY: Business Piston France 49% 22% 29% 10,133 5.9% -1.3% -10.9% Germany 56% 23% 21% 7,886-3.1% -2.1% -25.7% UK 68% 21% 11% 7,655 3.7% 0.5% -13.7% Switzerland 72% 16% 12% 3,911 5.9% 4.1% 8.6% Italy 74% 22% 4% 3,177 5.7% 2.0% -39.3% Spain 75% 12% 13% 2,329 8.4% -17.8% -8.0% Austria 71% 12% 17% 1,781-1.7% 6.0% -3.8% Norway 13% 85% 3% 1,620 14.5% 3.4% -20.8% Sweden 41% 44% 15% 1,526 2.9% -6.7% 24.7% Turkey 94% 4% 3% 1,395 Russia 99% 0% 0% 1,271 13.4% 5.5% -50.0% 0.0% -33.3% 5.9% Belgium 64% 18% 17% 1,022 24% Netherlands 56% 20% 912-10.8% 6.1% -10.1% -10.6% -21.1% -21.5% Finland 38% 44% 18% 761 0.3% -3.2% 69.1% Czech Republic 60% 19% 21% 732 12.1% -2.8% -13.8% Poland 51% 28% 21% 653 11.3% -24.1% -23.9% Denmark 66% 17% 17% 478-0.6% -5.7% -3.7% Greece 81% 12% 7% 472-0.8% -24.7% -40.0% 100% 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 16

2. Origins & Destinations 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 17

Principal regional flows, December 2016 and YOY change Almost all countries got growth in business jet flights from France, notably Switzerland, up 14%. Also strong growth in business jet flights from Spain-UK and intra-uk. 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 18

Regional business aviation flight pattern into Europe Southern Europe had conspicuous growth in business jet departures this month, although the FY trend is highest for Eastern Europe. Middle East 19% up in December, +2% for FY 2016. Origin Region Departures December 2016 2016 YTD YOY growth YTD growth Last 12 months Western Europe 20.350 291.325 2.7% 2.2% 2.2% Southern Europe 5.838 109.822 8.8% 1.3% 1.3% Eastern Europe 2.724 40.022 5.6% 2.9% 2.9% Russia 1.092 14.429-2.2% -10.8% -10.8% North America 667 10.786-3.5% 2.5% 2.5% Middle East 814 10.125 18.8% 1.9% 1.9% North Africa 365 4.700 2.8% -5.0% -5.0% APAC (w/o China) 184 2.474 13.6% 11.4% 11.4% China 17 374-5.6% 18.7% 18.7% Total 32.051 484.057 4.1% 1.6% 1.6% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 19

Global business aviation flight pattern into Europe (YTD/YOY) K and G region have generated most FY 2016 growth, G also well up in December, as was O. U region also recovered this month, although FY trend was -5%. 2,2% December 2016-52,9% 0,0% -15,6% YTD 4,0% YOY 1,0% 11,7% -7,0% YTD -5,4% YOY -4,9% YTD 3,8% YOY 19,8% YTD -5,6% YOY YTD YOY YTD YOY YTD -2,0% YOY 4,9% 33,3% 1,2% YTD -16,1% YOY 14,0% YTD 61,5% YOY 5,3% YTD 7,0% YOY -2,3% YTD -3,4% YOY -4,2% -12,2% 12,0% YTD 30,8% YOY 14,8% YTD YTD 100,0% YOY YOY 13,5% YTD YOY -1,5% YTD -19,4% YOY YTD -4,1% YOY Origin Regions YTD departures YTD growth YOY growth U-Region 24,494-4.9% 2.2% K-Region 9,112 3.8% -2.0% O-Region 7,750 1.0% 11.7% G-Region 3,905 5.3% 7.0% D-Region 2,021-2.3% -3.4% C-Region 1,674-4.2% -12.2% Origin Regions YTD departures YTD growth YOY growth H-Region 1,645-15.6% 4.0% B-Region 1,293 12.0% 30.8% V-Region 959 14.0% 61.5% F-Region 662-7.0% -5.4% T-Region 514 13.5% -4.1% S-Region 488 1.2% -16.1% Origin Regions YTD departures YTD growth YOY growth M-Region 406-1.5% -19.4% Z-Region 381 19.8% -5.6% R-Region 170 4.9% 33.3% W-Region 93 14.8% 100.0% P-Region 8-52.9% 100.0% Total 55,575-1.3% 3.6% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 20

Departures from Europe to other regions Flights from Europe to CIS region were up 10% in December, although FY trend -3%. Intra- European flights were up 4%, 2% YTD. Africa also up this month, contrast FY decline. Origin Europe Destination Region Flights December 2016 YOY growth YTD growth Europe domestic 30.334 3,7% 1,9% CIS 2.064 9,6% -3,2% Middle East 950 13,9% -0,2% Africa 847 5,3% -3,2% North America 723 2,1% 2,1% Asia/Pacific 181 32,1% 15,1% Latin America 170-18,3% -4,9% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation 5/11/2017 21

Top 30 City Pairs in December Conspicuous growth on Europe s busiest airport pair, LSGG-LFPB, an additional 91 flights operated on this connection in December. Also big growth on LTBA-LTAC and EGGW-LSGG. Top 30 City Pairs December 2016 Flights +/- YOY: growth[in %] LSGG-LFPB LFPB-LSGG 161 156 47 44 41,2 39,3 Note: In this chart business pistons are excluded. LIRA-LIML LTBA-LTAC LFPB-EGGW EGGW-LFPB LIML-LIRA EGGW-LSGG LFMN-LSGG LFPB-LFMN LSGG-EGGW LFMN-UUWW LFPB-EGLF LTAC-LTBA LTFJ-LTAC EGLF-LFPB LSGG-LFMN LTAC-LTFJ EGGW-UUWW LFMN-LFPB UUWW-LFMN EGLF-LSGG LIML-LFPB UUWW-LSZH LSZH-UUWW EGGW-EGLF LSGG-EGLF UUWW-LOWW UUWW-LSGG LZIB-LKPR 62 61 60 59 58 56 53 51 49 49 49 47 46 46 45 43 43 42 41 40 38 37 34 34 33 32 32 32 4,5% Top 30 95,5% Other -23-8 -7-3 1 9 24 16 14 8 12 12 1 9 5 9 7 13 14 5 8 10 9 10 3 3 3 26-11,4-28,4-17,9-8,6 74,3 1,7 18,0 75,0 43,2 37,8 19,5 32,4 32,4 2,2 24,3 12,2 25,0 19,4 43,3 50,0 13,9 25,0 35,7 32,1 41,7 9,7 10,0 10,3 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 22

3. Types of Trip 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 23

Activity by flight filing (mission type) Almost 60% of business jet flights this month were AOC, these increasing 7% YOY, offsetting a small decline in Private Mission flights. 100% 33.237 +7,2% 19.360 18.064 2015 58,2% -0,6% 2016 13.537 13.456 40,5% +7,6% 1,3% 2016 December AOC Private 171 184 Origin =Destination -Flight AOC Private Origin = Destination Flight Note: Origin=Destination flights (mostly training) not shown on other pages 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 24

Monthly departure trends by mission type In all but 3 months of 2016, AOC flights increased on a YOY basis. July, September and this month had strongest growth. Private flight trend has stuttered, mostly declining in 2016. Thds. of departures AOC Private YOY: AOC YOY: Private Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 17,5 20,3 15,6 37,6 35,9 25,5 19,1 44,6 28,8 21,8 50,7 31,3 22,1 53,4 28,5 19,0 47,5 26,0 19,4 45,4 23,3 17,5 40,9 19,7 14,9 34,6 18,1 13,5 31,6 17,0 12,9 29,9 18,1 13,7 31,8 21,2 15,7 36,9 21,3 15,9 37,2 26,6 18,6 45,2 30,0 21,2 51,2 33,5 22,2 55,7 28,4 13,9 31,3 17,3 13,5 30,8 21,6 16,1 18,4 27,9 19,6 47,5 23,7 17,1 40,9 Nov-16 20,4 15,1 35,5 3,6% Dec-16 19,4 13,5 32,8 46,7-8,7% -7,3% -2,0% -1,2% -0,8% -1,3% -2,6% -1,8% -0,7% 1,3% 0,4% 2,2% 0,7% 1,2% 1,6% 4,1% 4,8% 4,9% 4,3% 3,9% 6,8% 7,3% 7,2% -3,6% -5,4% -3,8% -2,8% -1,0% -0,4% -5,1% -6,3% -5,2% -2,1% -7,1% -2,1% -2,5% -2,8% -3,2% -2,2% -0,6% 0,2% 2,4% 1,6% 2,2% 0,3% 1,3% 1,3% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 25

Departures and growth by aircraft segment 6 of 11 business jet segments grew activity in December, VLJs and LJs showing most increase, HJ sectors also up. FY 2016, SMJ and VLJ were 10% up on 2015. AC Segment Avg seats Departures December 2016 YOY growth YTD growth Last 12 months Bizliner*- (22+) 83-13.5% -7.9% -7.9% Ultra Long Range- (15-17) 4,452 3.8% 5.1% 5.1% Heavy jet- (12-15) 6,440 1.9% -2.3% -2.3% Super midsize jet- (10-11) 2,981 8.5% 10.7% 10.7% Midsize jet- (9-10) 2,667-7.9% -11.9% -11.9% Super Light jet- (9-10) 4,527 9.3% 3.2% 3.2% Light Jet- (4-8) 7,509 10.3% 4.0% 4.0% Entry Level Jets** (4-5) 1,590-19.4% -7.6% -7.6% Very Light jet- (4-5) 2,563 10.1% 9.6% 9.6% Turboprop- (4-16) 11,408-1.8% -2.0% -2.0% Piston- (4-16) 8,195-13.9% -4.0% -4.0% Total 52,419-0.6% -0.3% -0.3% Note: * only Airbus A318 Elite and BBJ3 are considered **Entry Level jets comprise older light jet types such as Citation I and CJ1 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation 5/11/2017 26

Departures by aircraft segment and trip type, December 2016 HJ, SLJ and LJ were well up this month in 1.5h-3h sectors. ULR 3h-6h sectors increased by 8%. ELJ short sectors collapsed, with slack taken up by VLJ & LJ, <1.5h sectors up >10%. max. 1.5 h 1.5h to 3h 3h to 6h more than 6h Bizliner 0,0% 25,0% -17,0% -28,6% Ultra Long Range 4,2% 0,8% 8,2% 3,1% Heavy jet 0,7% 9,3% 0,5% -10,4% Super midsize jet 11,7% 1,7% 5,3% 36,7% Midsize jet -14,0% -2,0% 8,1% 18,2% Super Light jet 5,9% 20,7% 11,0% -39,4% Light Jet 10,0% 17,0% -10,9% -41,5% Entry Level jet -18,3% -26,3% 6,9% Very Light jet 12,7% -0,6% 33,3% 29,2% Turboprop -2,5% 0,7% 6,1% -9,4% Piston -14,4% -15,3% 7,5% -1,2% *See page 38 for additional insights into this chart 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 27

4. OEM Competition 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 28

Leading Airframe OEM fleet departures by segment 10% growth in ULR sectors for Bombardier jets, in contrast to 6% decline for Dassault jets. Hawker MSJ sectors declined 19%, in contrast to Learjet MSJ flights, up 4% YOY. December 2016 TOTAL 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 29

Airframe OEM departures December YOY and YTD Business jet OEM fleets mostly increased YOY activity, notably Embraer, with Dassault & Hawker the exceptions. For FY 2016, Bombardier jets contributed most growth. Departures December 2016 YOY growth YTD growth CESSNA 15.056 1,9% 0,1% BEECHCRAFT 5.732-4,4% -4,2% BOMBARDIER 4.973 8,5% 7,4% DASSAULT 4.309-4,2% -4,4% PIPER 3.581-20,3% -12,7% EMBRAER 2.999 27,7% 19,0% GULFSTREAM 2.807 4,0% 1,9% HAWKER 2.361-11,2% -13,8% PILATUS 2.101 8,6% 7,4% LEARJET 1.881 0,6% 1,1% SOCATA 963-6,0% 8,5% PIAGGIO 926-9,4% 6,0% ECLIPSE 121 0,8% 12,1% AIRBUS 46-14,8% -5,0% BOEING 37-11,9% -11,4% Ø 3.193 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 30

Airframe OEM, flight hours December YOY and YTD Flight hours were up in December for the 3 largest OEM fleets, notably Bombardier. Prop flight activity was down for Beechcraft, but up 8% for Pilatus, maintaining 9% FY trend. Flight hours December 2016 YOY growth YTD growth CESSNA 18.313 2,3% -0,2% BOMBARDIER 12.101 8,9% 5,8% GULFSTREAM 8.100 1,6% 1,8% DASSAULT 7.609-7,8% -5,8% BEECHCRAFT 5.837-3,7% -6,1% EMBRAER 4.245 26,8% 16,0% PIPER 3.982-18,8% -11,9% HAWKER 3.370-8,3% -10,3% LEARJET 2.965-0,7% -2,5% PILATUS 2.536 7,9% 8,6% SOCATA 1.117-6,9% 9,3% PIAGGIO 1.052-4,8% 8,3% BOEING 145-28,8% -12,8% AIRBUS 142-27,0% -14,8% ECLIPSE 127-1,5% 11,2% Ø 4.776 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 31

Leading OEM fleet departures by flight filing (mission) YOY Contrasting trends in AOC and Private activity, with AOC flights well up but Private flights down for Cessna & Bombardier fleets. Only Gulfstream had evenly balanced AOC & Private growth. Departures December 2016 Commercial/AOC Private YOY: Commercial/AOC YOY: Private CESSNA 57% 43% 15,056 4.7% -1.6% BEECHCRAFT 66% 34% 5,732-1.7% -9.3% BOMBARDIER 61% 39% 4,973 19.5% -5.3% DASSAULT 49% 51% 4,309-6.6% -1.6% PIPER 25% 75% 3,581-29.9% -16.4% EMBRAER 70% 30% 2,999 41.6% 3.4% GULFSTREAM 40% 60% 2,807 3.5% 4.4% HAWKER 62% 38% 2,361-6.1% -18.3% PILATUS 0% 100% 2,101 LEARJET 73% 27% 1,881-3.4% 8.6% 13.0% SOCATA 0% 100% 963 300.0% -6.3% PIAGGIO 38% 62% 926 5.3% -16.7% ECLIPSE 4% 96% 121-28.6% 2.7% AIRBUS 50% 50% 46-23.3% -4.2% BOEING 62% 38% 37-32.4% 75.0% 100% 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 32

5. Aircraft Segments 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 33

Departures by aircraft segment & trip category VLJs had the largest operational emphasis on short haul flights, with 79% of sectors <1.5h. 32% of ULR sectors were 1.5h-6h, compared to 42% of HJ sectors. max. 1.5 h 1.5h to 3h 3h to 6h more than 6h Total departures December 2016 Bizliner 16,9% 18,1% 47,0% 18,1% 83 Ultra Long Range 48,1% 20,1% 11,8% 20,1% Heavy jet 52,6% 24,8% 16,6% 6,0% Super midsize jet 61,3% 24,2% 13,2% 1,4% Midsize jet 56,7% 27,9% 14,4% 1,0% Super Light jet 68,7% 26,4% 4,5% Light Jet 71,9% 24,4% 3,2% Entry Level jet 78,4% 18,6% 1,9% Very Light jet 79,0% 19,3% 0,5% 4.452 6.440 2.981 2.667 4.527 7.509 1.590 2.563 Turboprop 77,7% 17,5% 3,1% Piston 75,8% 19,4% 2,8% 8.195 11.408 Total 68,2% 21,7% 6,6% 3,5% 52.419 Note: *See correspondence with p33 100% 2017by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 34

Aircraft segment departures, market share, YOY growth Of the business jet fleet, clearly the Midsize and Entry Level segments weakest, representing 8% of total activity. Strongest growth this month from LJ, 14% of all flights. Departures December 2016 12.000 11.000 21,8% 10.000 9.000 Turboprop X% 8.000 7.000 6.000 15,6% Piston Heavy jet 12,3% Ultra Long Range 14,3% Light Jet Market share (based on total departures) 5.000 4.000 8,5% 8,6% 3.000 2.000 1.000 0-20,0% Entry Level jet 3,0% -18,0% -16,0% Bizliner 0,2% -14,0% -12,0% -10,0% 5,1% -8,0% Super Light jet 5,7% Midsize jet 4,9% Super midsize jet Very Light jet YOY growth -6,0% -4,0% -2,0% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% negative moderate high 3,8% 1,9% 8,5% 9,3% 10,3% 10,1% YOY growth -13,5% -7,9% -19,4% -1,8% -13,9% Bizliner Ultra Long Range Heavy jet Super midsize jet Midsize jet Super Light jet Light Jet Entry Level jet Very Light jet Turboprop Piston 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 35

Departures and growth, by aircraft size segment Q4 2016 has seen resurgence in Small Jet activity, with December YOY growth around 10% for SLJ, LJ, VLJ. SMJ and ULR activity maintained growth, with HJ bouncing back this month. 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 36

Flight hours and growth, by aircraft size segment Flight hours notably diminished on Bizliners in H2 2016. SLJ flight hours increased 13% in December, indicating extended sector length. HJ sectors were much shorter, FH falling 1%. 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 37

Aircraft segment departures by mission, December 2016 AOC demand generated the growth in HJ & SMJ segments, for which Private Flights declined. SLJ & LJ activity also largely AOC-driven. VLJ Private flights were up 13% YOY. Departures, December 2016 AOC Private YOY: AOC YOY: Private Bizliner 37 83-28.1% 15.6% 46 Ultra Long Range 2.078 2.374 4.452 5.3% 2.4% Heavy jet 3.558 2.882 6.440 7.9% -4.7% Super midsize jet 1.725 1.256 2.981 25.4% -8.4% Midsize jet 1.893 774 2.667-6.4% -11.2% Super Light jet 3.300 1.227 4.527 10.7% 5.5% Light Jet 4.580 2.929 7.509 13.6% 5.4% Entry Level jet 615 975 1.590-30.0% -10.8% Very Light jet 1.561 1.002 2.563 8.3% 13.1% Turboprop 4.638 6.770 11.408-1.9% -1.8% Piston 1.833 6.362 8.195-19.6% -12.1% 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 38

6. Aircraft Types 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 39

Top 15 Aircraft activity, by flight departures YOY December Phenom 300 activity continued to grow significantly in December, up near 40% YOY. Excel/XLS activity, >3500 sectors, up almost 10%. Just under 20% decline for Hawker 700-900 & CJ1 flights. Departures December 2016 3.800 3.600 CESSNA-Cessna Excel/XLS 3.400 3.200 BEECH-Super King Air 200 3.000 2.800 2.600 PILATUS-PC-12 2.400 2.200 CESSNA-Citation Mustang 2.000 HAWKER BEECHCRAFT-700-900 1.800 DASSAULT-Falcon 2000 CESSNA-Citation CJ2 1.600 CESSNA-CitationJet/CJ1 1.400 BOMBARDIER-Global Express 1.200 1.000 BOMBARDIER-Challenger 600 series BOMBARDIER-Challenger 300 800 DIAMOND-Twin Star 600 CESSNA-Citation II/Bravo EMBRAER-Phenom 300 400 GULFSTREAM-V/G500 200 0-20,0% -15,0% -10,0% -5,0% 0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0% 35,0% negative 51,2% 48,8% Top 15 Other YOY Growth 40,0% high 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 40

Top 15 Aircraft AOC flight activity only Phenom 300 and Embraer Legacy aircraft generated strong growth in AOC activity in December. CJ2 activity was notably up, +25% YOY. Falcon 900 activity -5%, Falcon 2000 flights -14%. Departures 3.200 December 2016 3.000 2.800 2.600 BEECH-Super King Air 200 2.400 2.200 2.000 1.800 CESSNA-Cessna Excel/XLS CESSNA-Citation CJ2 EMBRAER-Phenom 300 1.600 DASSAULT-Falcon 2000 64,2% 35,8% 1.400 1.200 1.000 800 HAWKER BEECHCRAFT-700-900 BOMBARDIER-Challenger 300 CESSNA-Citation Mustang CESSNA-Citation CJ3 EMBRAER-ERJ-135 Top 15 Other 600 400 DASSAULT-Falcon 900 BOMBARDIER-Challenger 600 series BOMBARDIER-Global Express 200 CESSNA-CitationJet/CJ1 CESSNA-Citation II/Bravo 0 YOY Growth -30,0% -25,0% -20,0% -15,0% -10,0% -5,0% 0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0% 35,0% 40,0% negative high 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 41

Top 15 Aircraft Private Flight activity only The Citation Mustang was the outlier with >20% growth YOY. Large business jets with strong growth included Falcon 2000 & Global Express. PC12 was busiest, flights up 9% YOY. Departures 2.200 2.100 2.000 1.900 1.800 1.700 1.600 1.500 1.400 1.300 1.200 1.100 1.000 900 800 700 600 500 CESSNA-Cessna Excel/XLS GULFSTREAM-V/G500 400 SOCATA-TBM 700 300 DASSAULT-Falcon F7X BOMBARDIER-Challenger 200 600 series CESSNA-Citation CJ2 100 0 December 2016 CESSNA-CitationJet/CJ1 BEECH-Super King Air 200 Piper-Malibu Meridian CIRRUS-SR 22 PILATUS-PC-12 DIAMOND-Twin Star DASSAULT-Falcon 2000 BOMBARDIER-Global Express -15,0% -10,0% -5,0% 0,0% 5,0% 10,0% 15,0% 20,0% CESSNA-Citation Mustang 25,0% 46,4% YOY Growth 53,6% Top 15 Other negative 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation high BAI issue 5/11/2017 42

7. Airports 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 43

Top Airport flight departures in December and YTD Conspicuous growth at Nice and Geneva (noting that December 2015 saw large YOY decline). Nice has strongest FY growth. Le Bourget also up this month, contrast FY decline of 1%. Total departures Top 20 Airports (2016: YTD) Additional departures per month YTD growth YOY growth LE BOURGET 21,248-25 -1.4% 4.3% NICE COTE D AZUR 15,066 67 5.6% 24.1% GENEVA 14,441 0 0.0% 24.4% LUTON 13,746-23 -1.9% -0.2% FARNBOROUGH 10,388 7 0.8% 0.3% ZURICH 10,054 10 1.2% -5.1% VNUKOVO 8,734-105 -12.6% 11.3% LINATE 8,413-43 -5.8% 6.2% VIENNA SCHWECHAT 6,785-9 -1.6% -4.6% CIAMPINO 6,625-14 -2.4% -2.4% MUNCHEN 6,227 20 4.0% 6.5% NORTHOLT 5,352 29 6.9% 6.6% BARAJAS 5,239-6 -1.3% -2.2% BIGGIN HILL 5,189 24 5.9% -10.9% SCHOENEFELD 4,995 4 1.0% 14.2% PALMA DE MALLORCA 4,915 IBIZA 4,811 39 26 10.6% 6.9% 20.0% 10.7% MANDELIEU 4,796 20 5.3% -2.1% SCHIPHOL 4,474 25 7.1% -17.1% BARCELONA 4,434 26 7.5% 18.4% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 44

Top 20 Airports activity by mission profile Nice and Geneva growth was primarily in AOC activity, also well up at Vnukovo, Farnborough and Le Bourget. Private flight activity was well down at Zurich, Linate and Biggin Hill. Total departures Top 20 Airports (December 2016) Private Commercial / AOC YOY growth Private YOY growth AOC YOY growth Total LE BOURGET 37% 63% 1.542-3,4% 9,4% 4,3% GENEVA 35% 65% 1.197 12,0% 32,3% 24,4% LUTON 41% 59% 1.038-1,2% 0,5% -0,2% VNUKOVO 39% 61% 795 5,7% 15,3% 11,3% FARNBOROUGH 33% 67% 767-18,0% 12,4% 0,3% ZURICH 33% 67% 732-14,0% 0,0% -5,1% NICE COTE D AZUR 31% 69% 716 1,4% 38,1% 24,1% VIENNA SCHWECHAT 33% 67% 535-6,8% -3,5% -4,6% LINATE 34% 66% 532-17,2% 24,6% 6,2% CIAMPINO 42% 58% 457-6,9% 1,1% -2,4% MUNCHEN 37% 63% 426 0,0% 10,7% 6,5% BARAJAS 31% 69% 363 16,5% -8,8% -2,2% BIGGIN HILL 34% 66% 359-18,0% -6,7% -10,9% SCHOENEFELD 44% 56% 353 2,6% 25,6% 14,2% NORTHOLT 30% 70% 341-7,3% 13,7% 6,6% ATATURK 80% 20% 329 47,2% -21,2% 25,1% STUTTGART 40% 60% 325 11,1% -15,6% -6,6% STANSTED 63% 37% 324 7,4% 89,1% 28,1% VACLAV HAVEL 21% 79% 306 6,7% 1,7% 2,7% BARCELONA 33% 67% 290 37,1% 10,9% 18,4% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 45

Top 20 Airports, by fleet category Nice, Geneva, Vnukovo growth-spike came in business jet activity. Turboprop flights up 40% at Zurich. Piston activity slumped at most airports EG -37% at Stuttgart. Departures December 2016 Business Jet Business TurboProp Business Piston YOY: Business Jet YOY: Business TurboProp YOY: Business Piston YOY: Total LE BOURGET 87% 12% 0% 1,771 4.3% -4.3% 60.0% 3,3% GENEVA 89% 10% 1% 1,350 24.4% 13.9% -26.3% 22,4% LUTON 97% 0% 3% 1,070-0.2% -5.9% 0.0% -0,4% ZURICH 83% 10% 7% 885-5.1% 40.0% -33.3% -4,7% FARNBOROUGH 91% 9% 0% 840 0.3% 17.7% 0.0% 1,6% NICE COTE D AZUR 90% 10% 0% 800 24.1% 43.9% -60.0% 25,2% VNUKOVO 100% 0% 0% 795 11.3% -100.0% 0.0% 11,2% LINATE 89% 10% 1% 596 6.2% -3.2% -60.0% 4,0% VIENNA SCHWECHAT 93% 6% 2% 576-4.6% -23.8% -30.8% -6,5% CIAMPINO 82% 17% 1% 555-2.4% 42.4% 0.0% 3,2% MUNCHEN 85% 15% 0% 502 6.5% 45.1% 0.0% 11,3% STUTTGART 65% 21% 14% 499-6.6% 10.4% -37.0% -9,6% BIGGIN HILL 82% 13% 6% 439-10.9% -19.1% -16.7% -12,4% SCHOENEFELD 87% 10% 3% 406 14.2% 30.0% -44.0% 11,5% BARAJAS 93% 7% 0% 389-2.2% 18.2% 0.0% -1,0% VACLAV HAVEL 79% 14% 7% 388 2.7% 3.7% -40.9% -2,0% NORTHOLT 96% 0% 4% 355 6.6% 116.7% -75.0% 7,6% SALZBURG - W.A. MOZART 72% 13% 16% 351-2.3% 4.8% -1.8% -1,4% STANSTED 94% 6% 0% 346 28.1% 175.0% -100.0% 32,1% TOUSSUS LE NOBLE 8% 28% 64% 342 40.0% -3.0% -28.3% -19,1% 2017 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 46

Best performing airports by activity December 2016 YOY Fastest growing YOY airports mainly in Western Europe, busiest were Stansted, Mallorca, Munich and Barcelona. Deps per week YOY UBBB-HEYDAR ALIYEV INTL 30 118.2% ENGM-OSLO GARDERMOEN 41 59.8% LBSF-SOFIA 27 50.0% LPPT-LISBOA 40 46.4% LOWL-LINZ INTL 31 35.2% LEPA-PALMA DE MALLORCA 56 30.6% LZIB-M R STEFANIK 42 29.0% LTAC-ESENBOGA 64 28.3% EGBB-BIRMINGHAM INTL 33 27.5% EGSS-STANSTED 87 27.4% LIMC-MALPENSA 30 25.5% LGAV-ELEFTHERIOS VENIZELOS 52 25.1% LYBE-BELGRADE 42 24.6% EGCC-MANCHESTER 39 24.6% EKCH-KASTRUP 30 22.9% EDNY-FRIEDRICHSHAFEN 40 21.5% LSZB-BELP 33 20.4% LCLK-LARNACA 46 19.7% LIPZ-VENEZIA TESSERA 34 19.3% EDMO-OBERPFAFFENHOFEN 28 18.9% EDDM-MUNCHEN 146 18.9% LOWI-INNSBRUCK INTERNATIONAL 47 18.9% LFBD-MERIGNAC 36 18.9% LTBA-ATATURK 74 17.1% Note: Threshold for consideration in this analysis is more than 10 departures per week LEBL-BARCELONA 77 16.8% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 47

Most declining airports by activity December 2016 YOY Concentration of airports in northern Germany and Benelux, notably Hannover, Schipol. Biggin Hill and Stuttgart had largest declines. Sheremetyevo flights declined 34% YOY. Deps per week YOY UUEE-SHEREMETYEVO 30-34.4% EDDV-HANNOVER 27-21.6% EDMO-OBERPFAFFENHOFEN 23-20.4% EVRA-RIGA 24-20.0% EDDW-BREMEN 38-17.5% EHAM-SCHIPHOL 68-17.1% EDTY-ADOLF WURTH LSZB-BELP LIMF-TORINO EHRD-ROTTERDAM LSZS-ENGADIN LPPT-LISBOA 29 42 29 26 50 26-14.2% -12.6% -12.3% -12.1% -11.9% -11.1% EGKB-BIGGIN HILL 90-10.9% EGLC-LONDON CITY 35-10.3% UKKK-ZHULIANY 51-9.7% EDDH-HAMBURG 54-9.2% ELLX-LUXEMBOURG 57-8.8% LFLY-BRON 38-8.4% EFHK-HELSINKI VANTAA 35-8.0% LFLB-AIX LES BAINS 57-7.3% LFSB-BALE MULHOUSE 60-6.6% Note: Threshold for consideration in this analysis is more than 10 departures per week EDDS-STUTTGART 81-6.6% 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue 5/11/2017 48

Definitions The charts illustrated in this analysis source data from national business aviation associations, Eurocontrol, and the FAA, covering 50 European, Middle Eastern and North African national territories. All data analysis is carried out by WINGX Advance through our proprietary activity tracking methodology. We cover all types of private (owner) and commercial (AOC) flight. AOC flights include charter and special mission activity such as medical flights. We exclude origin-origin (mainly training) flights. Illustrated flight activity analysis pertains to all IFR registered flights within Eurocontrol territories and between Eurocontrol territories and the rest of the world. The analysis covers all single and multi engine business aviation aircraft categories: Jets, Turboprops and Pistons, equating to more than 300 aircraft types. Coverage of business jet types used by commercial airlines is not comprehensive, but does capture, for example, Embraer Legacy (ERJ135) Bombardier 850 (CRJ200), A318 Elite, BBJ3 business aviation flights. Jet aircraft activity is segmented by cabin/range capability: Airline Jet (Bizliner), Ultra Long Range, Heavy Jet, Super Mid-size Jet, Mid-size Jet, Super Light Jet, Light Jet, Entry Level Jet, Very Light Jet. Aircraft utilisation is measured by number of flight departures and the related number of flight hours. Our analysis does not include Overflights. We do include arrival flights from all global ICAO regions into Europe. The analysis is shown for the preceding calendar month; it is compared to the previous year same month (YOY or Year on Year), and to the current total activity for the year (YTD or Year to Date). 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 49

Disclaimer DISCLAIMER: The recipient of the Business Aviation INSIGHT, acknowledges the underlying terms and conditions as published on the WINGX Advance website. 2016 by WINGX Advance / Actionable Market Intelligence for Business Aviation BAI issue5/11/2017 50