Air Leo airline business plan appendix. Air Leo is a new regional airline aiming at linking Western Europe with the rapidly expanding markets of Southeastern Europe and Turkey.

Air Leo

Start your own business plan »

Airline Business Plan

Appendix

Sales Forecast
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales
Scheduled Passenger Revenues 0% $0 $0 $0 $866,250 $1,299,375 $2,601,625 $5,155,920 $3,866,940 $5,255,920 $5,881,619 $6,180,451 $6,544,900
Scheduled Cargo Revenues 0% $0 $0 $0 $65,625 $98,437 $118,124 $188,997 $207,897 $293,966 $440,949 $390,600 $477,405
Special Flights Passenger Revenues 0% $0 $0 $0 $0 $0 $0 $247,200 $123,600 $185,400 $309,000 $309,000 $309,000
Special Flights Cargo Revenues 0% $0 $0 $0 $0 $0 $0 $5,760 $2,880 $4,320 $7,200 $7,200 $7,200
Package trips 0% $0 $0 $0 $0 $0 $0 $9,975 $10,973 $12,070 $13,277 $14,605 $18,100
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $0 $0 $0 $931,875 $1,397,812 $2,719,749 $5,607,852 $4,212,290 $5,751,676 $6,652,045 $6,901,856 $7,356,605
Direct Cost of Sales Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Scheduled Passenger Revenues $0 $0 $0 $53,900 $84,567 $142,345 $325,467 $221,980 $272,367 $289,810 $298,453 $306,231
Scheduled Cargo Revenues $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Special Flights Passenger Revenues $0 $0 $0 $0 $0 $0 $14,280 $7,140 $10,710 $17,850 $17,850 $17,850
Special Flights Cargo Revenues $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Package trips $0 $0 $0 $0 $0 $0 $3,990 $4,389 $4,828 $5,311 $5,842 $7,240
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $0 $0 $0 $53,900 $84,567 $142,345 $343,737 $233,509 $287,905 $312,971 $322,145 $331,321
Personnel Plan
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Production Personnel
Captains (3 per aircraft) $0 $0 $45,000 $45,000 $45,000 $60,000 $60,000 $60,000 $60,000 $60,000 $75,000 $75,000
First Officers (3 per aircraft) $0 $0 $36,000 $36,000 $36,000 $48,000 $48,000 $48,000 $48,000 $48,000 $60,000 $60,000
Flight Attendants (9 per aircraft) $0 $0 $40,500 $40,500 $40,500 $54,000 $54,000 $54,000 $54,000 $54,000 $67,500 $67,500
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $19,687 $39,375
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $0 $0 $121,500 $121,500 $121,500 $162,000 $162,000 $162,000 $162,000 $162,000 $222,187 $241,875
Sales and Marketing Personnel
Director of Sales & Marketing $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Regional Sales & Marketing Mgrs (3) $4,000 $8,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000
Special Sales & Marketing Manager $0 $0 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Air Cargo Sales & Marketing Manager $0 $0 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Sales & Marketing Assistants (6) $3,000 $4,500 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000
Cust. Service/Reservations Assts (12) $0 $0 $6,000 $9,000 $9,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $12,000 $17,500 $40,000 $43,000 $43,000 $46,000 $46,000 $46,000 $46,000 $46,000 $46,000 $46,000
General and Administrative Personnel
President & CEO $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000
Vice President & General Manager $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000
Vice President Commercial $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500
Vice President Finance $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500
Vice President Operations $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500 $10,500
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500
Other Personnel
Director of Communications $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Director of Human Resources $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Director of Flight Safety $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Director of Flight Maintenance $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Director of Ground Operations $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Director of Information Systems $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Station Managers (1 per major station) $0 $0 $10,000 $10,000 $10,000 $14,000 $14,000 $14,000 $14,000 $14,000 $20,000 $20,000
Ground Service Pers (3 per maj station) $0 $0 $22,500 $22,500 $22,500 $31,500 $31,500 $31,500 $31,500 $31,500 $45,000 $45,000
Maintenance Engineers (8) $0 $0 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000
Bookkeeping & Finance Personnel (3) $2,000 $2,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
Information Systems Personnel (5) $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Professional Support Personnel (3) $4,000 $4,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
Secretarial/Admin Asst Personnel (3) $3,000 $3,000 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Customer Relations Personnel (2) $0 $0 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $46,000 $46,000 $110,000 $110,000 $110,000 $123,000 $123,000 $123,000 $123,000 $123,000 $142,500 $142,500
Total People 84 84 84 84 84 84 84 84 84 84 84 84
Total Payroll $116,500 $122,000 $330,000 $333,000 $333,000 $389,500 $389,500 $389,500 $389,500 $389,500 $469,187 $488,875
General Assumptions
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Interest Rate 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00%
Long-term Interest Rate 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50% 7.50%
Tax Rate 30.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00%
Other 0 0 0 0 0 0 0 0 0 0 0 0
Pro Forma Profit and Loss
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales $0 $0 $0 $931,875 $1,397,812 $2,719,749 $5,607,852 $4,212,290 $5,751,676 $6,652,045 $6,901,856 $7,356,605
Direct Cost of Sales $0 $0 $0 $53,900 $84,567 $142,345 $343,737 $233,509 $287,905 $312,971 $322,145 $331,321
Production Payroll $0 $0 $121,500 $121,500 $121,500 $162,000 $162,000 $162,000 $162,000 $162,000 $222,187 $241,875
Non-Salary Aircraft Operational Costs $2,000,000 $0 $0 $2,308,350 $2,010,020 $2,179,945 $4,109,523 $3,093,544 $3,021,288 $3,465,698 $3,041,040 $4,413,533
Total Cost of Sales $2,000,000 $0 $121,500 $2,483,750 $2,216,087 $2,484,290 $4,615,260 $3,489,053 $3,471,193 $3,940,669 $3,585,372 $4,986,729
Gross Margin ($2,000,000) $0 ($121,500) ($1,551,875) ($818,275) $235,459 $992,592 $723,237 $2,280,483 $2,711,376 $3,316,484 $2,369,876
Gross Margin % 0.00% 0.00% 0.00% -166.53% -58.54% 8.66% 17.70% 17.17% 39.65% 40.76% 48.05% 32.21%
Operating Expenses
Sales and Marketing Expenses
Sales and Marketing Payroll $12,000 $17,500 $40,000 $43,000 $43,000 $46,000 $46,000 $46,000 $46,000 $46,000 $46,000 $46,000
Advertising/Promotion $0 $0 $175,000 $225,000 $100,000 $150,000 $150,000 $100,000 $100,000 $150,000 $150,000 $200,000
Travel $500 $1,500 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Public Relations Consultants/Activities $0 $0 $3,000 $3,000 $2,000 $2,000 $2,000 $2,000 $500 $500 $500 $500
LD toll-free reservations telephone serv $0 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
Other $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Total Sales and Marketing Expenses $14,500 $27,000 $229,000 $282,000 $156,000 $209,000 $209,000 $159,000 $157,500 $207,500 $207,500 $257,500
Sales and Marketing % 0.00% 0.00% 0.00% 30.26% 11.16% 7.68% 3.73% 3.77% 2.74% 3.12% 3.01% 3.50%
General and Administrative Expenses
General and Administrative Payroll $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500 $58,500
Sales and Marketing and Other Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Depreciation $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Leased Equipment $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Telephone $1,500 $2,000 $2,300 $2,500 $3,000 $3,000 $3,300 $3,000 $3,000 $3,000 $3,000 $3,000
Utilities $1,200 $1,500 $1,500 $1,200 $1,000 $1,200 $1,500 $1,500 $1,500 $1,200 $1,200 $800
Insurance (Non-Aviation) $0 $0 $0 $0 $0 $0 $10,000 $0 $0 $0 $0 $0
Headquarters Office Rent $0 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000
Field Office Rental $0 $0 $15,000 $5,000 $5,000 $14,000 $8,000 $8,000 $8,000 $8,000 $17,000 $10,000
Vehicle Operating Expenses $720 $720 $720 $720 $720 $720 $720 $720 $720 $720 $720 $720
Computer Hardware/Software Devlpmnt $0 $0 $0 $0 $0 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000
Cockpit/Cabin Crew Training/Simulator $0 $0 $100,000 $0 $0 $35,000 $0 $0 $0 $0 $50,000 $0
Crew/Staff Uniforms & Grooming $0 $24,000 $0 $0 $8,000 $0 $0 $0 $0 $12,000 $0 $0
Payroll Taxes 20% $23,300 $24,400 $66,000 $66,600 $66,600 $77,900 $77,900 $77,900 $77,900 $77,900 $93,837 $97,775
Other General and Administrative Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total General and Administrative Expenses $97,220 $143,120 $276,020 $166,520 $174,820 $230,320 $199,920 $189,620 $189,620 $201,320 $264,257 $210,795
General and Administrative % 0.00% 0.00% 0.00% 17.87% 12.51% 8.47% 3.57% 4.50% 3.30% 3.03% 3.83% 2.87%
Other Expenses:
Other Payroll $46,000 $46,000 $110,000 $110,000 $110,000 $123,000 $123,000 $123,000 $123,000 $123,000 $142,500 $142,500
Consultants $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Contract/Consultants $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Other Expenses $46,000 $46,000 $110,000 $110,000 $110,000 $123,000 $123,000 $123,000 $123,000 $123,000 $142,500 $142,500
Other % 0.00% 0.00% 0.00% 11.80% 7.87% 4.52% 2.19% 2.92% 2.14% 1.85% 2.06% 1.94%
Total Operating Expenses $157,720 $216,120 $615,020 $558,520 $440,820 $562,320 $531,920 $471,620 $470,120 $531,820 $614,257 $610,795
Profit Before Interest and Taxes ($2,157,720) ($216,120) ($736,520) ($2,110,395) ($1,259,095) ($326,861) $460,672 $251,617 $1,810,363 $2,179,556 $2,702,227 $1,759,081
EBITDA ($2,147,720) ($206,120) ($726,520) ($2,100,395) ($1,249,095) ($316,861) $470,672 $261,617 $1,820,363 $2,189,556 $2,712,227 $1,769,081
Interest Expense $4,500 $4,372 $4,244 $4,115 $3,987 $3,859 $3,731 $3,602 $3,474 $3,346 $3,218 $3,089
Taxes Incurred ($648,666) ($77,172) ($259,267) ($740,079) ($442,079) ($115,752) $159,930 $86,805 $632,411 $761,674 $944,653 $614,597
Net Profit ($1,513,554) ($143,320) ($481,496) ($1,374,432) ($821,003) ($214,968) $297,012 $161,210 $1,174,478 $1,414,537 $1,754,356 $1,141,395
Net Profit/Sales 0.00% 0.00% 0.00% -147.49% -58.73% -7.90% 5.30% 3.83% 20.42% 21.26% 25.42% 15.52%
Pro Forma Cash Flow
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Cash Received
Cash from Operations
Cash Sales $0 $0 $0 $605,719 $908,578 $1,767,837 $3,645,104 $2,737,989 $3,738,589 $4,323,829 $4,486,206 $4,781,793
Subtotal Cash from Operations $0 $0 $0 $605,719 $919,450 $2,099,429 $4,149,761 $3,723,595 $5,685,056 $5,816,090 $6,509,797 $7,112,923
Additional Cash Received
Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $0 $0 $0 $605,719 $919,450 $2,099,429 $4,149,761 $3,723,595 $5,685,056 $5,816,090 $6,509,797 $7,112,923
Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Expenditures from Operations
Cash Spending $116,500 $122,000 $330,000 $333,000 $333,000 $389,500 $389,500 $389,500 $389,500 $389,500 $469,187 $488,875
Bill Payments $436,235 $1,341,196 $15,659 $200,427 $1,908,184 $1,896,940 $2,683,243 $5,079,453 $3,553,903 $4,258,469 $4,859,342 $4,713,339
Subtotal Spent on Operations $552,735 $1,463,196 $345,659 $533,427 $2,241,184 $2,286,440 $3,072,743 $5,468,953 $3,943,403 $4,647,969 $5,328,529 $5,202,214
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Principal Repayment of Current Borrowing $0 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $552,735 $1,480,296 $362,759 $550,527 $2,258,284 $2,303,540 $3,089,843 $5,486,053 $3,960,503 $4,665,069 $5,345,629 $5,219,314
Net Cash Flow ($552,735) ($1,480,296) ($362,759) $55,192 ($1,338,835) ($204,111) $1,059,918 ($1,762,458) $1,724,553 $1,151,022 $1,164,169 $1,893,610
Cash Balance $9,847,265 $8,366,969 $8,004,210 $8,059,402 $6,720,567 $6,516,456 $7,576,374 $5,813,916 $7,538,469 $8,689,491 $9,853,659 $11,747,269
Pro Forma Balance Sheet
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Assets Starting Balances
Current Assets
Cash $10,400,000 $9,847,265 $8,366,969 $8,004,210 $8,059,402 $6,720,567 $6,516,456 $7,576,374 $5,813,916 $7,538,469 $8,689,491 $9,853,659 $11,747,269
Accounts Receivable $0 $0 $0 $0 $326,156 $804,519 $1,424,839 $2,882,930 $3,371,625 $3,438,245 $4,274,199 $4,666,258 $4,909,940
Inventory $150,000 $150,000 $150,000 $150,000 $96,100 $93,024 $156,580 $378,111 $256,860 $316,696 $344,268 $354,360 $364,453
Other Current Assets $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000
Total Current Assets $10,600,000 $10,047,265 $8,566,969 $8,204,210 $8,531,658 $7,668,109 $8,147,874 $10,887,415 $9,492,401 $11,343,409 $13,357,958 $14,924,277 $17,071,662
Long-term Assets
Long-term Assets $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000
Accumulated Depreciation $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $110,000 $120,000
Total Long-term Assets $200,000 $190,000 $180,000 $170,000 $160,000 $150,000 $140,000 $130,000 $120,000 $110,000 $100,000 $90,000 $80,000
Total Assets $10,800,000 $10,237,265 $8,746,969 $8,374,210 $8,691,658 $7,818,109 $8,287,874 $11,017,415 $9,612,401 $11,453,409 $13,457,958 $15,014,277 $17,151,662
Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Current Liabilities
Accounts Payable $390,000 $1,340,819 $10,942 $136,780 $1,845,760 $1,810,314 $2,512,147 $4,961,776 $3,412,652 $4,096,283 $4,703,395 $4,522,458 $5,535,548
Current Borrowing $600,000 $600,000 $582,900 $565,800 $548,700 $531,600 $514,500 $497,400 $480,300 $463,200 $446,100 $429,000 $411,900
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $990,000 $1,940,819 $593,842 $702,580 $2,394,460 $2,341,914 $3,026,647 $5,459,176 $3,892,952 $4,559,483 $5,149,495 $4,951,458 $5,947,448
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $990,000 $1,940,819 $593,842 $702,580 $2,394,460 $2,341,914 $3,026,647 $5,459,176 $3,892,952 $4,559,483 $5,149,495 $4,951,458 $5,947,448
Paid-in Capital $10,800,000 $10,800,000 $10,800,000 $10,800,000 $10,800,000 $10,800,000 $10,800,000 $10,800,000 $10,800,000 $10,800,000 $10,800,000 $10,800,000 $10,800,000
Retained Earnings ($990,000) ($990,000) ($990,000) ($990,000) ($990,000) ($990,000) ($990,000) ($990,000) ($990,000) ($990,000) ($990,000) ($990,000) ($990,000)
Earnings $0 ($1,513,554) ($1,656,874) ($2,138,370) ($3,512,802) ($4,333,805) ($4,548,773) ($4,251,761) ($4,090,551) ($2,916,073) ($1,501,537) $252,819 $1,394,214
Total Capital $9,810,000 $8,296,446 $8,153,126 $7,671,630 $6,297,198 $5,476,195 $5,261,227 $5,558,239 $5,719,449 $6,893,927 $8,308,463 $10,062,819 $11,204,214
Total Liabilities and Capital $10,800,000 $10,237,265 $8,746,969 $8,374,210 $8,691,658 $7,818,109 $8,287,874 $11,017,415 $9,612,401 $11,453,409 $13,457,958 $15,014,277 $17,151,662
Net Worth $9,810,000 $8,296,446 $8,153,126 $7,671,630 $6,297,198 $5,476,195 $5,261,227 $5,558,239 $5,719,449 $6,893,927 $8,308,463 $10,062,819 $11,204,214

Get the Bplans newsletter:

Expert business tips and advice delivered weekly.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
Air Leo airline business plan appendix. Air Leo is a new regional airline aiming at linking Western Europe with the rapidly expanding markets of Southeastern Europe and Turkey.
\n