MIRA INFORM REPORT

Report No. :	511132
Report Date :	25.05.2018

IDENTIFICATION DETAILS

Name :	JACKSON SQUARE AVIATION IRELAND LIMITED

Registered Office :	13 Upper Mount Street Dublin 2 662881

Country :	Ireland

Financials (as on) :	31.12.2016

Date of Incorporation :	02.09.2008

Com. Reg. No.:	IE461635

Legal Form :	LTD - Private Company Limited By Shares

Line of Business :	Renting and leasing of air passenger transport equipment

No. of Employees :	9 (2016)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Ireland

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

IRELAND - ECONOMIC OVERVIEW

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply during the world financial crisis and the subsequent collapse of its domestic property market and construction industry. Faced with sharply reduced revenues and a burgeoning budget deficit from efforts to stabilize its fragile banking sector, the Irish Government introduced the first in a series of draconian budgets in 2009. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s banking sector and avoid defaulting on its sovereign debt. In March 2011, the KENNY government intensified austerity measures to meet the deficit targets under Ireland's EU-IMF bailout program.

In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt. In 2014, the economy rapidly picked up and GDP grew by 25% in 2015. In late 2014, the government introduced a fiscally neutral budget, marking the end of the austerity program. Continued growth of tax receipts has allowed the government to lower some taxes and increase public spending while keeping to its deficit-reduction targets. In 2015, GDP growth exceeded 26%. This increase reflected one-off statistical revisions, multinational corporate restructurings, and the aircraft leasing sector, rather than gains in the on the ground economy. Growth moderated to around 4.1% in 2017, but the recovering economy assisted lowering the deficit to 0.6% of GDP.

In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Ireland’s low corporation tax of 12.5% and a talented pool of high-tech laborers have been key factors in encouraging business investment. Loose tax residency requirements made Ireland a common destination for international firms seeking to avoid taxation. In 2014, amid growing international pressure, the government announced it would phase in more stringent tax laws, effectively closing a commonly used loophole.

Source : CIA

Company Name and address

JACKSON SQUARE AVIATION IRELAND LIMITED

13 UPPER MOUNT STREET DUBLIN 2 IRELAND 662881

Company No.

IE461635

Company Status

Active - Accounts Filed

Company Summary

Registered Address 13 UPPER MOUNT STREET
DUBLIN 2
IRELAND
662881

Trading Address AIB INTERNATIONAL CENTRE
IFSC
DUBLIN 1
DUBLIN 1
216410

Website Address -

Eircode -

VAT Number IE9693141Q

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 02/09/2008

Previous Name

Type LTD - PRIVATE COMPANY LIMITED BY SHARES

FTSE Index -

Date of Change -

Filing Date of Accounts -

Currency USD

Share Capital €10,000,000

SIC07 77351

Charity Number -

SIC07 Description RENTING AND LEASING OF AIR PASSENGER TRANSPORT EQUIPMENT

Principal Activity A group engaged in ownership and leasing of aircraft. Accounts data converted

from US Dollars.

Nace Code -

Nace Description -

Additional Information

CJ's 0 (€0)

No CJ Information To Display

Ultimate Holding Company MITSUBISHI UFJ LEASE & FINANCE CO LTD

Accountant -

Mortgages 21

Group 25 companies

Linkages 1 companies

Countries In 1 countries

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder's Funds Employees

31/12/2016 €98,699,955 €36,404,664 €100,119,641 9

31/12/2015 €73,948,271 €24,159,547 €62,592,784 7

31/12/2014 €65,230,191 €19,881,817 €43,525,995 6

Mortgage Summary

Total Mortgage 21

Outstanding 21

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade €0

Commentary

No exact match CCJs are recorded against the company.

Sales in the latest trading period increased 33.5% on the previous trading period.

Net Worth increased by 37.8% during the latest trading period.

A 68.5% growth in Total Assets occurred during the latest trading period.

CJ

Total Number of Exact CJs -	Total Value of Exact CJs -	€0
Total Number of Possible CJs -	Total Value of Possible CJs -	€0
Total Number of Satisfied CJs -	Total Value of Satisfied CJs -	€0

Total Current Directors	3	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	12

Current Directors

Title		Function	Director
Name	AIDAN REYNOLDS	Nationality
Date of Birth	04/1962	Present Appointments	14
Latest Address	BALLAGHKEEN HOUSE, BALLYSCARTIN, GOREY, WEXFORD	Appointment Date	01/03/2013
Eircode
Title		Function	Director
Name	JUNKI YOKOYAMA	Nationality
Date of Birth	05/1983	Present Appointments	14
Latest Address	72 SIMMONSCOURT SQUARE, BALLSBRIDGE, DUBLIN 4, IRELAND	Appointment Date	23/06/2016
Eircode

Title		Function	Director
Name	KAZUNORI SHIBAHASHI	Nationality
Date of Birth	01/1969	Present Appointments	1
Latest Address	788 HARISSON STREET, APT #724, SAN FRANCISCO, CA 94107	Appointment Date	23/06/2016
Eircode

Current Company Secretary

Title		Function	Company Secretary
Name	MATSACK TRUST LIMITED	Nationality
Date of Birth	11/1969	Present Appointments	1463
Latest Address	70 SIR JOHN ROGERSON'S QUAY, DUBLIN 2.	Appointment Date	02/09/2008
Eircode

Authorised Person

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
JSA INTERNATIONAL HOLDINGS LP	USD	10,000,000	ORDINARY	1	100

Profit & Loss

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	EUR	(%)	EUR	(%)	EUR	(%)	EUR	(%)	EUR
	Consolidated A/cs	Y	(%)	Y	(%)	Y	(%)	Y	(%)	Y
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Turnover	€98,699,955	33.5%	€73,948,271	13.4%	€65,230,191	51.3%	€43,113,946	108.4%	€20,684,798
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Export	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Cost of Sales	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Gross Profit	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Wages & Salaries	€2,312,024	111.2%	€1,094,563	-35.5%	€1,697,534	22.5%	€1,385,893	74.4%	€794,779
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Directors Emoluments	€584,048	9.6%	€532,661	-1.4%	€540,192	-	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Operating Profit	€61,735,181	37.8%	€44,791,003	20.1%	€37,295,026	60%	€23,315,775	164.3%	€8,821,096
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Depreciation	€33,622,811	25.5%	€26,793,787	8.2%	€24,752,196	48.1%	€16,710,521	66%	€10,065,030
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Audit Fees	€50,448	-9%	€55,419	-7.3%	€59,813	109.3%	€28,576	99.8%	€14,303
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Interest Payments	€2,533,074	-87.7%	€20,631,455	18.5%	€17,413,648	60.2%	€10,867,286	98.1%	€5,486,265
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Pre Tax Profit	€36,404,664	50.7%	€24,159,547	21.5%	€19,881,817	59.7%	€12,448,936	273.3%	€3,334,959
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Taxation	-€4,554,357	-48.7%	-€3,063,486	-22.9%	-€2,492,545	-59.2%	-€1,565,578	-275.5%	-€416,886
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Profit After Tax	€31,850,307	51%	€21,096,061	21.3%	€17,389,272	59.8%	€10,883,358	273%	€2,918,073
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Dividends Payable	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Retained Profit	€31,850,307	51%	€21,096,061	21.3%	€17,389,272	59.8%	€10,883,358	273%	€2,918,073

Balance Sheet

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Tangible Assets	€1,176,279,746	70.6%	€689,505,029	-2.6%	€708,244,239	36.9%	€517,507,366	97.4%	€262,198,896
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Intangible Assets	€13,847,472	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Total Fixed Assets	€1,190,127,219	72.6%	€689,505,029	-2.6%	€708,244,239	36.9%	€517,507,366	97.4%	€262,198,896
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Stock	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Trade Debtors	€1,541,847	175.9%	€558,742	-	0	-	0	-	0
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Cash	€14,180,054	-47.7%	€27,132,983	26.3%	€21,478,021	73.3%	€12,396,765	116.9%	€5,714,219
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Other Debtors	€7,670,215	153.9%	€3,020,445	-32.5%	€4,477,439	58.7%	€2,821,950	35.6%	€2,080,383
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Miscellaneous Current Assets	€205,060	-3.8%	€213,234	-9.9%	€236,544	-49.9%	€471,710	91.9%	€245,817
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Total Current Assets	€23,597,176	-23.7%	€30,925,405	18.1%	€26,192,004	66.9%	€15,690,425	95.1%	€8,040,419
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Trade Creditors	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Other Short Term Finance	€405,504,889	-17.8%	€493,580,708	-25.4%	€661,279,716	35.5%	€487,854,438	96.8%	€247,872,551
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Miscellaneous Current Liabilities	€21,094,970	-14.7%	€24,730,489	0.2%	€24,673,834	29.6%	€19,034,379	100.7%	€9,483,270
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Total Current Liabilities	€426,599,859	-17.7%	€518,311,197	-24.4%	€685,953,550	35.3%	€506,888,817	97%	€257,355,821
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Bank Loans & Overdrafts and LTL	€687,004,894	392.4%	€139,526,452	999.9%	€4,956,698	-	0	-	0
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Other Long Term Finance	€673,883,526	410.2%	€132,078,951	-	0	-	0	-	0
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Total Long Term Liabilities	€687,004,894	392.4%	€139,526,452	999.9%	€4,956,698	-	0	-	0

Capital & Reserves

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Called Up Share Capital	€8,482,138	-	€8,482,138	-4.7%	€8,896,932	-0.7%	€8,955,566	19.7%	€7,479,700
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	P & L Account Reserve	€85,960,953	58.9%	€54,110,646	56.3%	€34,629,064	99.6%	€17,353,408	221.1%	€5,403,794
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Revaluation Reserve	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Sundry Reserves	€5,676,550	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Shareholder Funds	€100,119,641	60%	€62,592,784	43.8%	€43,525,995	65.4%	€26,308,974	104.2%	€12,883,494

Other Financial Items

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Net Worth	€86,272,169	37.8%	€62,592,784	43.8%	€43,525,995	65.4%	€26,308,974	104.2%	€12,883,494
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Working Capital	-€403,002,683	17.3%	-€487,385,792	26.1%	-€659,761,546	-34.3%	-€491,198,392	-97%	-€249,315,403
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Total Assets	€1,213,724,395	68.5%	€720,430,434	-1.9%	€734,436,243	37.7%	€533,197,791	97.3%	€270,239,315
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Total Liabilities	€1,113,604,754	69.3%	€657,837,649	-4.8%	€690,910,248	36.3%	€506,888,817	97%	€257,355,821
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Net Assets	€100,119,641	60%	€62,592,784	43.8%	€43,525,995	65.4%	€26,308,974	104.2%	€12,883,494

Cash Flow

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Net Cashflow from Operations	€62,828,663	21%	€51,943,673	1.4%	€51,227,430	44%	€35,581,130	92.6%	€18,473,147
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Net Cashflow before Financing	-€460,228,382	-999.9%	€15,482,786	109.2%	-€167,388,814	9.8%	-€185,517,580	-119.4%	-€84,548,870
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Net Cashflow from Financing	€447,275,452	999.9%	-€8,826,475	-105%	€176,551,235	-7.6%	€191,072,618	121.7%	€86,174,088
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Increase in Cash	-€12,952,929	-294.6%	€6,656,311	-27.4%	€9,162,421	64.9%	€5,555,038	241.8%	€1,625,218

Miscellaneous

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Capital Employed	€787,124,536	289.4%	€202,119,237	316.9%	€48,482,693	84.3%	€26,308,974	104.2%	€12,883,494
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Number of Employees	9	28.6%	7	16.7%	6	-14.3%	7	-	-
	Accountants
	Auditors	DELOITTE
	Auditor Comments	The audit report contains no adverse comments
	Bankers	AIB GLOBAL TREASURY
	Bank Branch Code	93-00-67

Ratios

	Date Of Accounts	31/12/16	31/12/15	31/12/14	31/12/13	31/12/12
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Pre-tax profit margin %	36.88	32.67	30.48	28.87	16.12
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Current ratio	0.06	0.06	0.04	0.03	0.03
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Sales/Net Working Capital	-0.24	-0.15	-0.10	-0.09	-0.08
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Gearing %	686.20	222.90	11.40	0	0
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Equity in %	8.30	8.70	5.90	4.90	4.80
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Creditor Days	-	-	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Debtor Days	5.68	2.75	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Liquidity/Acid Test	0.05	0.05	0.03	0.03	0.03
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Return On Capital Employed %	4.62	11.95	41	47.31	25.88
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Return On Total Assets Employed %	2.99	3.35	2.70	2.33	1.23
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Current Debt Ratio	4.26	8.28	15.75	19.26	19.97
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Total Debt Ratio	11.12	10.50	15.87	19.26	19.97
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Stock Turnover Ratio %	-	-	-	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\barchart-grey.png$	Return on Net Assets Employed %	36.36	38.59	45.67	47.31	25.88

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
31/08/2017	Annual Returns
30/08/2017	New Accounts Filed
30/08/2017	New Accounts Filed
05/10/2016	New Accounts Filed
05/10/2016	New Accounts Filed
04/10/2016	Annual Returns
23/06/2016	NAOKI SATO has left the board
23/06/2016	TOKUMITSU NIIMI has left the board
23/06/2016	New Board Member (KAZUNORI SHIBAHASHI) appointed
23/06/2016	New Board Member (JUNKI YOKOYAMA) appointed
16/10/2015	New Accounts Filed
16/10/2015	New Accounts Filed
15/10/2015	Annual Returns
17/11/2014	KATSUHIKO INAYOSHI has left the board
17/11/2014	New Board Member (TOKUMITSU NIIMI) appointed

Previous Company Names

No Previous Names found

Received Documents

Writ Details

No writs found

Statistics

Group	25 companies
Linkages	1 companies
Countries	In 1 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	MITSUBISHI UFJ LEASE & FINANCE CO LTD

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\tminus.gif$ MITSUBISHI UFJ LEASE & F...	N/A	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ MITSUBISHI UFJ LEASE &...	IE233756	31.12.2016	Y	€5,341,946
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\tminus.gif$ ENGINE LEASE FINANCE C...	IE903412	31.03.2017	N
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\L.gif$ ELFC LONDON LIMITED	09235610	31.12.2017	N	£7,124,710
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\tminus.gif$ JSA INTERNATIONAL HOLD...	N/A	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\tminus.gif$ CAYMAN WAREHOUSE HOL...	N/A	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\L.gif$ JSA AIRCRAFT IRELA...	IE489355	31.12.2015	N	€3,379,801
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\tminus.gif$ JSA INTERNATIONAL CA...	N/A	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ JSA AIRCRAFT IRELA...	IE483541	31.12.2016	N	€3,385,743
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ JSA AIRCRAFT IRELA...	IE483542	31.12.2016	N	€3,385,743
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ JSA AIRCRAFT IRELA...	IE483543	31.12.2016	N	€3,385,743
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ JSA AIRCRAFT IRELA...	IE489357	31.12.2016	N	€3,079,414
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ JSA AIRCRAFT IRELA...	IE514288	31.12.2016	N	€3,193,121
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ JSA AIRCRAFT IRELA...	IE514289	31.12.2016	N	€3,240,588
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ MSN INTERNATIONAL...	N/A	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\tminus.gif$ SJK AIRCRAFT LEASI...	N/A	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\L.gif$ SJK AIRCRAFT IREL...	IE503571	31.12.2016	N	€3,766,745
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\tminus.gif$ JSA INTERNATIONAL AI...	IE532283	31.12.2016	N	€3,699,709
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\L.gif$ JSA AIRCRAFT IRELA...	IE532083	31.12.2016	N	€3,881,300
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ MSN INTERNATIONAL AI...	N/A	-	-
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\tminus.gif$ JACKSON SQUARE AVIAT...	IE461635	31.12.2016	Y	€98,699,955
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ CONNOLLY AVIATION...	IE520171	31.12.2016	N
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ CONNOLLY AVIATION...	IE522843	31.12.2016	N	€3,542,933
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\T.gif$ CONNOLLY AVIATION...	IE532601	31.12.2016	N	€3,784,056
$Description: \\vivek-pc\E\Jackson Square Aviation Ireland Limited_files\L.gif$ JSA INTERNATIONAL...	08375546	31.12.2016	N	£2,846,028

Other Linked Companies

Name		Safe Number	Number	Latest Key Financials	Rating	Limit	Turnover
MITSUBISHI UFJ LEASE & FINANCE (U.S.A) INC.		US10328239		-	85	$56,000	$3,750,000

Mortgage Details

Mortgage Type:	Lease security assignment dated 21 December 2017 between Jackson Square Aviation Ireland Limited, as assignor, (the “Assignor”) and Wells Fargo Bank Northwest, National Association, in its capacity as Security Trustee for the benefit of the Secured Parties (the “Assignee” and the “Security Trustee”) in respect of one (1) Airbus A320-200NEO aircraft bearing manufacturer’s serial number 7979 (the “Lease Security Assignment”)..
Date Charge Created:	21/12/17
Date Charge Registered:	02/01/18
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wells Fargo Bank Northwest, National Association
Amount Secured:
Details:
Mortgage Type:	Security Agreement Supplement dated 22 December 2017 between Jackson Square Aviation Ireland Limited (the “Mortgagor”) and Wells Fargo Bank Northwest, National Association, as security trustee under the Security Agreement (the “Security Trustee”) in respect of one (1) Airbus A320-200NEO aircraft bearing manufacturer’s serial number 7979 (the “Security Agreement Supplement”)..
Date Charge Created:	22/12/17
Date Charge Registered:	02/01/18
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wells Fargo Bank Northwest, National Association
Amount Secured:
Details:

Mortgage Type:	Aircraft security agreement dated 21 December 2017 between Jackson Square Aviation Ireland Limited, as borrower and as mortgagor, (the “Mortgagor”), Wells Fargo Bank Northwest, National Association, not in its individual capacity, but solely as security trustee, (the “Security Trustee”) and Wells Fargo Bank Northwest, National Association, as account bank, (the “Account Bank”) in respect of one (1) Airbus A320-200NEO aircraft bearing manufacturer’s serial number 7979 (the “Security Agreement”)..
Date Charge Created:	21/12/17
Date Charge Registered:	02/01/18
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wells Fargo Bank Northwest, National Association
Amount Secured:
Details:
Mortgage Type:	Beneficial Interest Security Assignment dated 27 October 2017 between Jackson Square Aviation Ireland Limited, as initial beneficial owner (the “Assignor”) and Wilmington Trust Company, as collateral agent for and on behalf of the Secured Parties (in such capacity together with its successors and permitted assigns the “Collateral Agent”) (the “Beneficial Interest Security Assignment”)..
Date Charge Created:	27/10/17
Date Charge Registered:	01/11/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company
Amount Secured:
Details:

Mortgage Type:	Beneficial Interest Security Assignment dated 16 October 2017 between Jackson Square Aviation Ireland Limited, as initial beneficial owner (the “Assignor”) and Wilmington Trust Company, as collateral agent for and on behalf of the Secured Parties (in such capacity together with its successors and permitted assigns the “Collateral Agent”) (the “Beneficial Interest Security Assignment”)..
Date Charge Created:	16/10/17
Date Charge Registered:	20/10/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company
Amount Secured:
Details:
Mortgage Type:	Security Agreement dated 12 October 2017 between Jackson Square Aviation Ireland Limited, as borrower and as mortgagor (the “Borrower” and the “Mortgagor”), Wilmington Trust SP Services (Dublin) Limited, not in its individual capacity but solely as initial trustee for each Aircraft Trust (the “Aircraft Trustee”) and as mortgagor under the Security Agreement, (together with the Borrower, the “Mortgagors” and each individually, a “Mortgagor”), and Wilmington Trust Company, as administrative agent (the “Administrative Agent”), as collateral agent (the “Collateral Agent”) and as mortgagee (the “Mortgagee”) (the “Security Agreement”)..
Date Charge Created:	12/10/17
Date Charge Registered:	20/10/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company
Amount Secured:
Details:

Mortgage Type:	Deed of Hypothecation dated 25 September 2017 between Jackson Square Aviation Ireland Limited as borrower and Wilmington Trust Company (not in its individual capacity, but solely as Security Trustee) in respect of one (1) Airbus A320-271NEO Aircraft bearing Manufacturer’s Serial Number 6904.
Date Charge Created:	25/09/17
Date Charge Registered:	29/09/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company, as security trustee
Amount Secured:
Details:
Mortgage Type:	Aircraft 2 Security Agreement dated 25 September 2017 between Jackson Square Aviation Ireland Limited as borrower and Wilmington Trust Company as security trustee in respect of one (1) Airbus A320-271NEO Aircraft bearing Manufacturer’s Serial Number 6904, Registration Mark VT-ITX and equipped with two (2) Pratt & Whitney Canada 1127G-JM Engines.
Date Charge Created:	25/09/17
Date Charge Registered:	29/09/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company, as security trustee
Amount Secured:
Details:

Mortgage Type:	Aircraft 2 Security Assignment dated 25 September 2017 between Jackson Square Aviation Ireland Limited as borrower and Wilmington Trust Company (not in its individual capacity, but solely as Security Trustee) in respect of one (1) Airbus A320-271NEO Aircraft bearing Manufacturer’s Serial Number 6904, Registration Mark VT-ITX and equipped with two (2) IAE LLC PW1127G-JM Engines.
Date Charge Created:	25/09/17
Date Charge Registered:	29/09/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company, as security trustee
Amount Secured:
Details:
Mortgage Type:	Collection Account Security Agreement dated 16 August 2017 between Jackson Square Aviation Ireland Limited as borrower and Wilmington Trust Company, in its capacity as security trustee for and on behalf of the Finance Parties..
Date Charge Created:	16/08/17
Date Charge Registered:	28/08/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company, as security trustee
Amount Secured:
Details:

Mortgage Type:	Deed of Hypothecation dated 21 August 2017 between Jackson Square Aviation Ireland Limited as borrower and Wilmington Trust Company (not in its individual capacity, but solely as Security Trustee) in respect of one (1) Airbus A320-271NEO Aircraft bearing Manufacturer’s Serial Number 7618..
Date Charge Created:	21/08/17
Date Charge Registered:	28/08/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company, as security trustee
Amount Secured:
Details:
Mortgage Type:	Aircraft 1 Security Agreement dated 21 August 2017 between Jackson Square Aviation Ireland Limited as borrower and Wilmington Trust Company as security trustee in respect of one (1) Airbus A320-271NEO Aircraft bearing Manufacturer’s Serial Number 7618, Registration Mark VT-ITW and equipped with two (2) Pratt & Whitney Canada 1127G-JM Engines..
Date Charge Created:	21/08/17
Date Charge Registered:	25/08/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company, as security trustee
Amount Secured:
Details:

Mortgage Type:	Aircraft 1 Security Assignment dated 21 August 2017 between Jackson Square Aviation Ireland Limited as borrower and Wilmington Trust Company (not in its individual capacity, but solely as Security Trustee) in respect of one (1) Airbus A320-271NEO Aircraft bearing Manufacturer’s Serial Number 7618, Registration Mark VT-ITW and equipped with two (2) Pratt & Whitney Canada 1127G-JM Engines..
Date Charge Created:	21/08/17
Date Charge Registered:	25/08/17
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company, as security trustee
Amount Secured:
Details:
Mortgage Type:	Security agreement supplement dated 4 October 2016 between Jackson Square Aviation Ireland Limited (the “Borrower”) and Wilmington Trust Company, as collateral agent (the “Collateral Agent”) and as mortgagee under the Security Agreement (the “Mortgagee”) in respect of one (1) Airbus S.A.S. A320-232 aircraft bearing manufacturer’s serial number 5596 with registration mark 9V-TRI (the “Security Agreement Supplement”)..
Date Charge Created:	04/10/16
Date Charge Registered:	05/10/16
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	WILMINGTON TRUST COMPANY
Amount Secured:
Details:

Mortgage Type:	ROC law aircraft mortgage dated 29 September 2016 between Jackson Square Aviation Ireland Limited, as mortgagor (the “Mortgagor”) and Wilmington Trust Company, as mortgagee (the “Mortgagee”) in respect of one (1) Airbus A321-211 aircraft bearing manufacturer’s serial number 6179 (the “ROC Law Aircraft Mortgage”)..
Date Charge Created:	29/09/16
Date Charge Registered:	03/10/16
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	WILMINGTON TRUST COMPANY
Amount Secured:
Details:
Mortgage Type:	Security agreement supplement dated 29 September 2016 between Jackson Square Aviation Ireland Limited (the “Borrower”) and Wilmington Trust Company, as collateral agent (the “Collateral Agent”) and as mortgagee under the Security Agreement (the “Mortgagee”) in respect of one (1) Airbus S.A.S. A321-211 aircraft bearing manufacturer’s serial number 6179 with registration mark B-16211 (the “Security Agreement Supplement”)..
Date Charge Created:	29/09/16
Date Charge Registered:	03/10/16
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	WILMINGTON TRUST COMPANY
Amount Secured:
Details:

Mortgage Type:	ROC law aircraft mortgage dated 28 September 2016 between Jackson Square Aviation Ireland Limited, as mortgagor (the “Mortgagor”) and Wilmington Trust Company, as mortgagee (the “Mortgagee”) in respect of one (1) Airbus A321-211 aircraft bearing manufacturer’s serial number 6276 (the “ROC Law Aircraft Mortgage”)..
Date Charge Created:	28/09/16
Date Charge Registered:	03/10/16
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	WILMINGTON TRUST COMPANY
Amount Secured:
Details:
Mortgage Type:	Security agreement supplement dated 28 September 2016 between Jackson Square Aviation Ireland Limited (the “Borrower”) and Wilmington Trust Company, as collateral agent (the “Collateral Agent”) and as mortgagee under the Security Agreement (the “Mortgagee”) in respect of one (1) Airbus S.A.S. A321-211 aircraft bearing manufacturer’s serial number 6276 with registration mark B-16212 (the “Security Agreement Supplement”)..
Date Charge Created:	28/09/16
Date Charge Registered:	30/09/16
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	WILMINGTON TRUST COMPANY
Amount Secured:
Details:

Mortgage Type:	Security agreement supplement dated 21 September 2016 between Jackson Square Aviation Ireland Limited (the “Borrower”) and Wilmington Trust Company, as collateral agent (the “Collateral Agent”) and as mortgagee under the Security Agreement (the “Mortgagee”) in respect of one (1) Airbus S.A.S. A320-200 aircraft bearing manufacturer’s serial number 5605 with registration mark 9V-TRW (the “Security Agreement Supplement”)..
Date Charge Created:	21/09/16
Date Charge Registered:	30/09/16
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	WILMINGTON TRUST COMPANY
Amount Secured:
Details:
Mortgage Type:	Security agreement supplement dated 31 August 2016 between Jackson Square Aviation Ireland Limited (the “Borrower”) and Wilmington Trust Company, as collateral agent (the “Collateral Agent”) and as mortgagee under the Security Agreement (the “Mortgagee”) in respect of one (1) Boeing 787-8 aircraft bearing manufacturer’s serial number 36428 with registration mark G-TUIF (the “Security Agreement Supplement”)..
Date Charge Created:	31/08/16
Date Charge Registered:	13/09/16
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	WILMINGTON TRUST COMPANY
Amount Secured:
Details:

Mortgage Type:	Security agreement dated 15 August 2016 between inter alios, Jackson Square Aviation Ireland Limited, as borrower (the “Borrower”), Wilmington Trust, National Association, as administrative agent for the Lenders (the “Administrative Agent”) and Wilmington Trust Company, as collateral agent (the ”Collateral Agent”) and as mortgagee (the “Mortgagee) (the “Security Agreement”)..
Date Charge Created:	15/08/16
Date Charge Registered:	22/08/16
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	Wilmington Trust Company
Amount Secured:
Details:

Previous Director/Company Secretaries

Name	Current Active Appointments	Previous Appointments	Dissolved Companies
OSAMU MURAMOTO	0	5	2
KATSUHIKO INAYOSHI	0	14	4
TOKUMITSU NIIMI	0	11	4
LISA HAND	17	49	20
NAOKI SATO	0	4	0
NAOKI SATO	0	4	0
JUN OKAZAKI	0	3	1
KOICHI KUSUNOKI	0	1	0
LISA ANNE O'BRIEN	0	66	6
CHRISTIAN DONAGH	0	31	58
TAKAHIRO MIWA	0	6	1
SHANE HOGAN	8	21	23

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.39
UK Pound	1	INR 91.44
Euro	1	INR 80.14
IRR	1	INR 0.0016

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VIV

Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.