Aerolineas Nacionales del Ecuador, S.A.

Atlas Air, Inc.

98-12 | February 2, 1998

Re: Application for Long-Term Wet-Lease- Long-Term Wet-Lease to ANDES

Atlas Air, Inc. ("Atlas") requests authorization allowing it to wet lease aircraft on a long-term basis to Aerolineas Nacionales del Ecuador, S.A. ("Andes"), a flag carrier of Ecuador. Atlas requests that the authorization be effective for two years. The parties intend to commence this service as soon as possible and consequently request a waiver of the 45-day notice requirement.

Service List

Counsel: Verner Liipfert, William Evans, 202.371.6000

Southern Air Transport, Inc.

98-13 | February 2, 1998

Re: Application for Long-Term Wet-Lease- Long-Term Wet-Lease to ANDES

Southern Air Transport, Inc. ("Southern") hereby submits this application for a Statement of Authorization to permit Southern to wet lease a B-747-200F all-cargo aircraft to the Ecuadoran-flag carrier Aeolineas Nacionales del Ecuador, S.A. ("ANDES") for use in ANDES' scheduled and charter all-cargo operations to the U.S.

Service List

Counsel: Pierre Murphy, Elizabeth Collins, 202.872.1679

Aerolineas Nacionales del Ecuador, S.A. ("ANDES")

November 12, 1998

Re: ANDES-Update of Ownership (FAX)

Letter from Consejo Nacional de Aviacion Civil (Dated July 15, 1998)

Tab 1: Current Operating Authority | Tab 2: Financial Statement

Tab 3: Letter from Superintendicia de Companias | Tab 4: Civil Aviation License (Ecuatorian)

Counsels: Pierre Murphy and Elizabeth Collins, 202.872.1679

Aerolineas Nacionales del Ecuador, S.A. - ANDES

December 1, 1998

Re: Update of Ownership

Attachments: Shareholders

On behalf of Aerolineas Nacionales del Ecuador, S.A. ("ANDES") we are submitting the attached unofficial translations of the updated company ownership information submitted to your office on November 12, 1998. For your convenience, the attachments have been tabulated to match the original submission.

Counsel: Pierre Murphy, Elizabeth Collins, 202-872-1679

American International Airways

98-04 | Filed January 15, 1998 | Approved January 20, 1999

Re: Application for Long-Term Wet Lease Authority (Aerolineas Nacionales Del Ecuador, S.A. ("Andes")

Counsel: Sher Blackwell, Kelly O'Conner, 202.463.2513

Southern Air Transport, Inc.

98-13 | Filed February 2, 1998 | Approved March 12, 1999

Re: Application for a Long-Term Wet Lease to ANDES

Southern Air Transport, Inc. hereby submits this application for a Statement of Authorization to permit Southern to wet lease a .B-747-200F all-cargo aircraft to the Ecuadoran-flag carrier Aerolineas Nacionales del Ecuador, S.A. ("ANDES") for use in ANDES' scheduled and charter all-cargo operations to the U.S. The aircraft to be chartered is a B-747-200F from Southern's fleet and is under U.S. registration. The specific schedule on which Southern's aircraft will operate is MIA-UIO-GYE-MIA, and any other point(s) between the United States and Ecuador and within Ecuador as covered by ANDES' operating permit.

Counsel: Law Offices of Pierre Murphy, Elizabeth Collins, 202.872.1679, ecollins@lopmurphy.com