Skyridge Aviation — Appendices
Supporting appendices — the fleet specifications, the detailed financial schedules, the glossary, and the sources and references underpinning the Skyridge Aviation business plan and financial model.
Section 17 · Business Plan
Appendices
Supporting appendices — the fleet specifications, the detailed financial schedules, the glossary, and the sources and references underpinning the Skyridge Aviation business plan and financial model.
Appendix A — Fleet Specifications
Indicative specifications for the aircraft types in Skyridge’s
planned fleet. Final selections will reflect market availability,
financing terms and residual-value considerations at the time of
acquisition.
| Type | Class | Pax | Range (nm) | Cruise (kt) | Primary use |
|---|---|---|---|---|---|
| Cessna Caravan EX | Single turboprop | 9–12 | ~900 | ~185 | Safari, light cargo, short strips |
| Pilatus PC-12 | Single turboprop | 6–9 | ~1,800 | ~280 | Versatile regional, medevac, safari |
| Beechcraft King Air 200 | Twin turboprop | 7–9 | ~1,580 | ~270 | Crew transport, regional executive |
| Cessna Citation CJ3 | Light jet | 6–8 | ~2,040 | ~415 | Fast regional executive charter |
| Bombardier Challenger 300 | Midsize jet | 8–9 | ~3,065 | ~470 | Flagship VIP, long regional / feeder |
Table 28. Indicative fleet specifications
(figures approximate).
Appendix B — Detailed Financial Schedules
B.1 Revenue by Stream
| Revenue stream (USD ‘000) | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Executive & charter flight | 4,290 | 8,625 | 12,920 | 19,170 | 26,064 |
| Brokered charter margin | 770 | 1,180 | 1,980 | 2,730 | 3,640 |
| Aircraft management & crewing | 660 | 1,080 | 1,720 | 2,360 | 3,060 |
| MRO / line maintenance | 0 | 320 | 820 | 1,180 | 1,600 |
| FBO, handling & other | 780 | 940 | 1,160 | 1,560 | 1,996 |
| Total revenue | 6,500 | 12,145 | 18,600 | 27,000 | 36,360 |
Table 29. Revenue by stream, Years 1–5.
B.2 Operating Drivers
| Driver | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Owned / financed aircraft | 3 | 4 | 5 | 6 | 7 |
| Managed aircraft | 1 | 2 | 4 | 6 | 8 |
| Total fleet | 4 | 6 | 9 | 12 | 15 |
| Flight hours | 1,100 | 2,300 | 3,800 | 5,400 | 7,200 |
| Utilisation (hrs/owned ac) | 367 | 575 | 760 | 900 | 1,029 |
| Blended yield (USD/hr) | 3,900 | 3,750 | 3,400 | 3,550 | 3,620 |
| Revenue per aircraft (USD ‘000) | 1,625 | 2,024 | 2,067 | 2,250 | 2,424 |
| Owned-fleet value (USD ‘000) | 14,000 | 19,000 | 24,000 | 30,000 | 36,000 |
Table 30. Operating drivers, Years 1–5.
B.3 Key Ratios Summary
| Ratio | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| EBITDA margin | 11.8% | 23.3% | 26.3% | 31.8% | 35.2% |
| Net margin | -7.0% | 0.8% | 5.6% | 10.9% | 14.6% |
| Net debt / EBITDA | -4.97x | 0.61x | 1.37x | 1.10x | 0.76x |
| Interest cover (x) | 0.28x | 1.07x | 1.70x | 2.83x | 3.83x |
Table 31. Key financial ratios, Years
1–5.
Appendix C — Glossary
| Term | Definition |
|---|---|
| AOC | Air Operator Certificate — regulatory authorisation to conduct commercial air operations. |
| CAGR | Compound annual growth rate. |
| CAMO | Continuing Airworthiness Management Organisation. |
| EBITDA | Earnings before interest, tax, depreciation and amortisation. |
| EV | Enterprise value. |
| FBO | Fixed-base operator — provider of ground handling, fuelling and passenger services. |
| HNWI | High-net-worth individual. |
| ICAO | International Civil Aviation Organization. |
| IRR | Internal rate of return. |
| IS-BAO | International Standard for Business Aircraft Operations (operational audit standard). |
| MOIC | Multiple on invested capital. |
| MRO | Maintenance, repair and overhaul. |
| OCC | Operations control centre. |
| Part 135 | SACAA regulation governing non-scheduled commercial air transport. |
| SACAA | South African Civil Aviation Authority. |
| SADC | Southern African Development Community. |
| SAF | Sustainable aviation fuel. |
| SAM / SOM / TAM | Serviceable addressable / serviceable obtainable / total addressable market. |
| SG&A | Selling, general and administrative expenses. |
| SMS | Safety Management System. |
Table 32. Glossary of key terms and
abbreviations.
Appendix D — Sources & References
Market and industry data cited in this plan are drawn from the
following categories of source, accessed in 2025–2026:
- African Business Aviation Association (AfBAA) and MEBAA fleet and
market data on continental business-aircraft populations. - Mordor Intelligence and comparable market-research analyses of
the Middle East & Africa business-jet, general-aviation,
charter/air-taxi and MRO markets, 2025–2031 forecasts. - Henley & Partners Africa Wealth Report 2025 — high-net-worth
individual populations by country and city. - Statistics South Africa and South African Tourism — international
arrivals, tourism GDP contribution and employment data,
2024–2026. - South African Civil Aviation Authority (SACAA) — regulatory
framework, Part 135 and air-services licensing requirements. - Company sponsor materials and management estimates for fleet,
operational and financial assumptions.
Disclaimer. This business plan contains
forward-looking projections based on assumptions believed reasonable at
the time of preparation. Actual results may differ materially. The
financial projections have been independently re-derived on a
conservative basis and do not constitute a guarantee of future
performance. This document is provided for information and
investment-evaluation purposes and does not constitute an offer of
securities or financial advice. Recipients should conduct their own due
diligence.
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Skyridge Aviation (Pty) Ltd.