List of Government-owned and Privatized Airlines ...

1 AreaCountry/RegionAirlineTotal governmental sharesGovernmental shareholdersFormedCeased operationsGovernmentalsharesdecreased (=0)Governmentalsharesdecreased(below 50%)Governmentalsharesdecreased(=/above 50%)Governmentalshares increasedor addedAFAngolaAngola Air TAAG Angola Airlines1987 AFAngola Sonangol State Corporation1998 AFAngola TAAG Angola Government1938 AFBotswanaAir Government1969 AFBurkina FasoAir Government19672001 AFBurundiAir Government1971 AFCameroonCameroon Government1971 AFCape Verde TACV Cabo Government1958 AFChadAir Government19662002 AFChadToumai Air Government2004 AFComorosAir Government19751998 AFComorosAir Comores Government2004 AFCongoLina Government19651999 AFCongo, Democratic Republic ofAir Government19611995 AFC te d'IvoireAir 11 States (Cote d'Ivoire, Togo, Benin, Mali, Niger, Mauritania.)

2 Senegal, Central African Republic, Burkino Faso, Chad and Congo)196120021994 AFC te d'IvoireAir Government196020012000 AFDjiboutiAir Government19711991 AFEritreaEritrean Government1991 AFEthiopiaEthiopian Government1945 AFGabonAir Government19512006 AFGabonAir Gabon Government2005 AFGambiaGambia International Government1996 AFGhanaGhana Government19582004 AFGhanaGhana International Government2004 AFGuineaAir Government1960 AFGuinea-BissauAir Bissau (TAGB Transportes Aereos da Guinea-Bissau) Government19751999 AFKenyaKencargo Kenya Airways*20012004 AFKenyaKenya Government19771996 AFLesothoAir Government197019991997 AFMadagascarAir Government1962 AFMadagascarTransports & Travaux Aeriens de Air Madagascar*19512002 AFMalawiAir Government1964 AFMaliAir Government1993200319972001 List of Government-owned and Privatized Airlines (unofficial preliminary compilation)Page 1 of 14 AreaCountry/RegionAirlineTotal governmental sharesGovernmental shareholdersFormedCeased operationsGovernmentalsharesdecreased (=0)Governmentalsharesdecreased(below 50%)Governmentalsharesdecreased(=/above 50%)

3 Governmentalshares increasedor addedAFMauritaniaAir Government1962200720002006 AFMauritaniaMauritanie Government20072000 AFMauritiusAir Government, SIC State Investment Corp, 51% Air Mauritius Holding (owned by Government, SIC State Investment Corp)19672008 AFMozambiqueLAM Mozambique Airlines (Linhas Aereas de Mocambique) Government19361998 AFNamibiaAir TransNamib Holdings19462002 AFNamibiaKalahari Express Trans 16 members of the Economic Community of West African States (ECOWAS)20002000 AFNigeriaNigeria Government19582003 AFReunion [France]Air Reunion Regional and General Council - SEMATRA1974 AFReunion [France]Air Bourbon** **% Government20022004 AFRwandaAlliance Air Government19932002 AFRwandaRwanda Air Government2003 AFSao Tome and PrincipeAir Sao Tome & Government1993 AFSenegalAir Senegal Government19711999 AFSeychellesAir Seychelles National Investment Corp1977 AFSomaliaSomalia Government19641991 AFSouth South African Airways*2006 AFSouth AfricaSA Transnet1993 AFSouth AfricaSouth African Transnet193419992002 AFSouth Government1999 AFSwazilandRoyal Swazi National Government195819991997 AFTanzania, United Republic of Air Government197720022006 AFUgandaSA Alliance Tanzania Government.

4 30% Uganda Government19942000 AFUgandaUganda Government19762000 AFZambiaZambia Zambia Industrial & Mining Government19642000 AFZimbabweAir Government1967 ASAfghanistanAriana Afghan Government1957 ASBangladeshBiman Bangladesh Government1972 ASBhutanDruk Air (Royal Bhutan Airlines ) Ministry of Finance1981 ASBrunei DarussalamRoyal Brunei Prime Minister Corp (owned by members of the Sultan of Brunei's family)1974 ASCambodiaAir Government2002 ASCambodiaKampuchea Airlines (SK Air) Government1997 ASCambodiaRoyal Air Government19942001 Page 2 of 14 AreaCountry/RegionAirlineTotal governmental sharesGovernmental shareholdersFormedCeased operationsGovernmentalsharesdecreased (=0)Governmentalsharesdecreased(below 50%)Governmentalsharesdecreased(=/above 50%)Governmentalshares increasedor addedASChinaAir China National Aviation Holding (CNAH) Company, China National Aviation Corp Group (CNACG)19882004, 2006 ASChinaAir China Air China*, 24% Beijing Capital Airport Holding Company2003 ASChinaAir China China National Aviation Holding (CNAH) Company198720032003 ASChinaAir China China National Aviation Holding (CNAH)

5 Company19902005 ASChinaAir Great China Eastern Airlines *19922002 ASChinaBeiya China Northern Airlines19942003 ASChinaChangan Changan Aviation Industrial Company (Ministry of Aeronautical Industries, Shaanxi Aircraft Co, Shaanxi Province and Xian Aircraft Co)1992 ASChinaChina Cargo China Eastern Airlines *1998 ASChinaChina Eastern China Eastern Airlines (CEA) Holding, China National Aviation Holding Company (CNAH) (in H shares)19881997, 2007 ASChinaChina Eastern Airlines China Eastern Airlines *, 24% Jiangsu Provincial Guoxin Asset Management Group Co. Ltd1993 ASChinaChina Eastern Airlines Northwest China Eastern Airlines (CEA) Holding19892005 ASChinaChina Eastern Airlines China Eastern Airlines *, 2% Wuhan Government s State-owned Assets Supervision and Administration Commission (SASAC)1986 ASChinaChina Eastern Airlines China Eastern Airlines (CEA) Holding19922005 ASChinaChina General Aviation China Eastern Airlines *19891998 ASChinaChina National Aviation (CNAC)

6 Air China*xxxx20041997 ASChinaChina Northern China Southern Air Holding Company19902004 ASChinaChina Postal China State Postal Bureau, 49% China Southern Airlines *19962002 ASChinaChina Southern China Southern Air Holding Company19881997, 2003 ASChinaChina United Shanghai Airlines *19862004 ASChinaChina Xinhua Shen Hua Group19922000 ASChinaChina Xinjiang China Southern Air Holding Company19852004 ASChinaCivil Aviation Administration of China (CAAC) State Council19491988 ASChinaGreat Wall Beijing Aerospace Satellite Applications2005 ASChinaGuangxi China Southern Airlines *1999 ASChinaGuizhou Guizhou Xiangfei Industrial Co. Ltd. (part of the local Government), 60% China Southern Airlines *199120051998 ASChinaHainan Grand China Airlines Holding Co (controlled by the investment arm of hainan Province Government and its affiliates)198919961993 ASChinaNanjing Nanjing Government, 80% China Eastern Airlines *1994 ASChinaShandong Shandong Aviation Group (in which Air China owns 48%), Air China*19942000 Page 3 of 14 AreaCountry/RegionAirlineTotal governmental sharesGovernmental shareholdersFormedCeased operationsGovernmentalsharesdecreased (=0)Governmentalsharesdecreased(below 50%)Governmentalsharesdecreased(=/above 50%)

7 Governmentalshares increasedor addedASChinaShanghai Shanghai City Government (through Alliance Investment Company, Company it owns), Bank of China*19852002 ASChinaShantou China Southern Airlines *1993 ASChinaShenzhen Air China*1993 ASChinaSichuan Sichuan Airline Group (owned by Sichuan Provincial Asset Management), 39% China Southern Airlines *, 10% Shandong Airlines *, 10% Shanghai Airlines *19862002 ASChinaXiamen China Southern Airlines *1984 ASChinaZhongyuan SA Group19862000 ASChinaZhuhai China Southern Airlines *1995 ASIndiaAir National Aviation Company of India Limited (100% Government)1932 ASIndiaAir India Air India2004 ASIndiaAlliance Indian Airlines1996 ASIndiaBengal Air West Bengal State Government1996 ASIndiaIndian National Aviation Company of India Limited (100% Government)

8 1953 ASIndiaSGS State of Uttar Garuda Indonesia2001 ASIndonesiaGaruda Government1949 ASIndonesiaMerpati Nusantara Government, Garuda Indonesia1962 ASIndonesiaPelita Air Pertamina - National Oil Corporation1963 ASJapanAir Hokkaido Prefecture19942006 ASJapanAmakusa Kumamoto Prefecture, 27% Amakusa Municipal Government1998 ASJapanHokkaido Air Hokkaido Prefecture1997 ASJapanJapan Air 14 Municipalities of Amami Islands in Kagoshima1983 ASJapanJapan Airlines Air Okinawa Prefecture1985 ASKorea, Democratic People s Republic of Air Government1954 ASKorea, Republic ofJeju Jeju Province2006 ASKorea, Republic ofKorean , People s Democratic RepublicLao Government197619901998 ASMacao SAR [China]Air Macau Government 1994 ASMalaysia Malaysia Penerbangan Malaysia Berhad, State Financial Secretary Sarawak, Warisan Harta Sabah1937199419852000 ASMalaysia Malaysia Airlines *2007 ASMalaysia Pelangi Air** **% Government19872001 Page 4 of 14 AreaCountry/RegionAirlineTotal governmental sharesGovernmental shareholdersFormedCeased operationsGovernmentalsharesdecreased (=0)Governmentalsharesdecreased(below 50%)Governmentalsharesdecreased(=/above 50%)

9 Governmentalshares increasedor addedASMaldivesAir Government19742000 ASMaldivesIsland Aviation Government2000 ASMongoliaMIAT Mongolian Government1956 ASMyanmarAir Myanma Airways1994 ASMyanmarMyanma Government1948 ASMyanmarMyanmar Airways Myanmar Ministry of Transport (through Myanma Airways)1993 ASMyanmarUnited Myanmar Myanma Airways2003 ASMyanmarYangon Myanma Airways1996 ASNepalRoyal Nepal Government1958 ASPakistanPakistan International Government1946199220041995, 2002 ASPakistanShaheen Air Pakistan Air Force1991 ASPhilippinesPacific East Asia Philippine Aerospace Development Corp19911999 ASPhilippinesPhilippine Government (through Land Bank of the Philippines, Development Bank of the Philippines, Retirement Separation Benefits System of the Armed Forces of the Philippines)19411992, 1996, 1999 ASSingaporeJetstar Temasek Holdings (in Orangestar)

10 2004 ASSingaporeSingapore Temasek Holdings, One special golden share for Ministry of Finance19721985, 1987 ASSingaporeTiger Singapore Airlines *, 11% Temasek Temasek Holdings (in Orangestar)2003 ASSri LankaSrilankan Government19791998, 2000 ASTaiwan, P