EFTA Document EFTA01461855

g t.1 m at co t Figure 3: Airline Enterprise Value to 2014E EBITOAR 42 CD bey CZOIlill zed Cash 44 Pries M1 •s Ma k •I Pc•Int•41.11noitty tong.T•rm 9sort•Torm Op*, ming II. kelabl• Situps is• Rata, Interest Mittel 011in 20140 NI Compaly lleket 6125.2011 W. VS. Equity 111.1+61 Oat 0•Ot Leas*, Ibtatelilas Value incom• nE . 044 Fbnial• finis EBTORR STEM a O a ILIECACYAIRLINBS MON, Networks Mau ALKele 69530 a 688 • 16.556 • $0 • SO • $721 • $113 • 1