Item 1.01 Entry into a Material Definitive Agreement.

On September 30, 2022, the Company, through a wholly owned subsidiary, entered into a new senior secured revolving credit facility (the "Facility") with Norddeutsche Landesbank Girozentrale (acting through its New York branch) and Landesbank Hessen-Thüringen Girozentrale (the "Lenders") under which it will be able to borrow up to $300.0 million based on the amount of pre-delivery deposits paid with respect to up to twenty (20) 737-MAX aircraft, the purchase rights for which the Company may choose to place in the collateral pool. The Facility is secured by the purchase rights for the applicable aircraft. The commitment amount at the time of signing is $200.0 million; whereby the facility may be increased to $300.0 million subject to agreement between the Company and the Lenders. The Facility has a term of 24 months and any aircraft purchase right may remain in the facility for the duration of the term, or up until the calendar month prior to the expected delivery date of such aircraft, whichever is earliest. Any notes under the Facility will bear interest at a floating rate based on SOFR and all borrowings will be due no later than December 31, 2024 or upon delivery of the applicable aircraft. The proceeds from any drawdowns will be used to pay deposits due under the Company's agreement with the Boeing Company for purchase of 737-MAX aircraft, or for general corporate purposes. There is no balance on the credit Facility at the current time.

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