Further to the Company’s announcement on 19 August 2014, the Company wishes to announce that IAAX has officially received the approval from the Directorate General of Civil Aviation, Ministry Transportation of Republic of Indonesia (“DGCA”), for the Air Operator’s Certificate (“AOC”) on 4 September 2014. With this AOC, IAAX will now commence application for operating permits and slots to its intended international routes. At present, IAAX has one Airbus 330-300 leased from Epic Leasing LLC, an intermediary between the Company and IAAX. IAAX also aims to lease additional aircraft moving forward.

The holding of the Company in the share capital of IAAX remains at forty nine per centum (49%).