Summary of the Meeting of the Board of Directors

May 9, 2013 December 31, 1969

Completed

Agenda

1. Minutes of April 18, 2013 Board Meeting to be approved
2. Minutes of April 25, 2013 Board Meeting to be approved


TRANSPORTATION DIVISION
3A. COUNTRY: BRAZIL - AP083332XX (Conversion No. 5)
FOREIGN BUYER: SPV/VRG Linhas Aereas, S.A.
END USER: VRG Linhas Aereas, S.A.
PRODUCTS: Aircraft


3B. COUNTRY: BRAZIL - AP087901XX
FOREIGN BUYER: VRG Linhas Aereas, S.A.
PRODUCTS: Engine Overhaul Services

Certification for Closure of Meeting

I, Inci Tonguch-Murray, Assistant General Counsel for Administration, hereby certify that in my opinion the Meeting of the Board of Directors scheduled for 9:30 AM on Thursday, May 9, 2013, in the Board Room will disclose information of the kind set forth in Subsection (4) of Section 552b(c), Title 5 of the United States Code.


Accordingly, such meeting may be closed to the public.



Inci Tonguch-Murray
Assistant General Counsel (Acting)



Date Posted
Summary of Minutes

ITEM NO 1 Minutes of April 18, 2013 Board Meeting for consideration and approval.
Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton,
Director Loui and Director Walther all voted in favor of the minutes.



ITEM NO 2 Minutes of April 25, 2013 Board Meeting for consideration and approval.
Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton,
Director Loui and Director Walther all voted in favor of the minutes.



ITEM NO 3A
Country BRAZIL AP083332XX
Request for FINAL COMMITMENT


Applicant VRG LINHAS AEREAS SA, SAO PAULO 04626-020 BRAZIL
BorrowerSPV/VRG LINHAS AEREAS S.A., SAO PAULO 04646-020 BRAZIL
Buyer SPV/VRG LINHAS AEREAS S.A., SAO PAULO 04646-020 BRAZIL
End-user VRG LINHAS AEREAS SA, SAO PAULO 04626-020 BRAZIL
Exporter BOEING COMPANY, THE, RENTON WA
Supplier BOEING COMPANY, THE, RENTON WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC
Gtd LndrGOLDMAN SACHS GROUP INC. (THE), NEW YORK NY
Gtd LndrCREDIT AGRICOLE CORPORATE AND INVESTMENT, NEW YORK NY
Lessor SPV/VRG LINHAS AEREAS S.A., SAO PAULO 04646-020 BRAZIL
Lessee VRG LINHAS AEREAS SA, SAO PAULO 04626-020 BRAZIL


Project Name AIRCRAFT
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Loui
and Director Walther all voted in favor of the transaction.



ITEM NO 3B
Country BRAZIL AP087901XX
Request for FINAL COMMITMENT


Applicant VRG LINHAS AEREAS SA, SAO PAULO 04626-020 BRAZIL
Borrower VRG LINHAS AEREAS SA, SAO PAULO 04626-020 BRAZIL
Buyer VRG LINHAS AEREAS SA, SAO PAULO 04626-020 BRAZIL
End-userVRG LINHAS AEREAS SA, SAO PAULO 04626-020 BRAZIL
Exporter DELTA TECHNOLOGY, LLC, ATLANTA GA
Supplier DELTA TECHNOLOGY, LLC, ATLANTA GA
Gteed LndrJPMORGAN CHASE BANK, N.A., NEW YORK NY


Project Name NONE
Project Description AIRCRAFT MAINTENANCE
Product Description AIRCRAFT ENGINE MAINTENANCE
Repayment Term 2 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Loui
and Director Walther all voted in favor of the transaction.