|
Term |
Definition |
|---|---|
|
EBITDA |
Earnings before interest, tax, depreciation and amortisation |
|
AOC |
Air Operator Certificate — SACAA authority to operate commercially |
|
Part 135 / 121 |
Commercial charter / scheduled operating regulations |
|
Part 145 / AMO |
Approved Maintenance Organisation for airworthiness |
|
MRO |
Maintenance, repair and overhaul |
|
SMS |
Safety Management System |
|
SACAA |
South African Civil Aviation Authority |
|
DSCR / DSRA |
Debt-service cover ratio / debt-service reserve account |
|
Utilisation |
Revenue-earning flight hours per aircraft per year |
|
MOIC / IRR |
Multiple on invested capital / internal rate of return |
|
Assessed loss |
Tax loss carried forward to offset future taxable income |
Methodology and basis of preparation
This plan was prepared from the sponsor brief with headline revenue and EBITDA preserved exactly. All statements below EBITDA were independently modelled: component depreciation from the capex register (aircraft 16-year, hangar 20-year, ground support 7-year, IT 5-year, academy 15-year, heavy maintenance 6-year); interest on aircraft-finance debt at 12.75%; 27% corporate tax with assessed-loss carry-forward; and working capital at 8% of revenue. The R420 million raise is structured as R170 million of aircraft-finance debt and R250 million of equity, with fleet growth funded principally by additional aircraft debt and modest follow-on equity. The income statement, balance sheet and cash flow are integrated so the balance sheet ties to zero in every year, enforced by an automated assertion (maximum difference: 0.0). Returns, scenarios and sensitivities were computed independently. Aviation-market statistics are directional estimates from public industry sources current to mid-2026 and should be re-verified in due diligence. This document is not an offer of securities.
Apex AeroVentures Global Aviation (Pty) Ltd · Business Plan & Investment Prospectus · July 2026 · Private & Confidential