1. Central Europe’s First Low Cost Airline Christian Mandl Chief Executive Officer 30th Annual FAA Aviation Forecast Conference 17 March 2005 - Washington SkyEurope Airlines

2. All statements contained in this presentation that are not statements of historical facts, including statements on projected operating results, financial position, business strategy and other plans and objectives for future results, constitute forward-looking statements and are prediction of, or indicate, future events and future trends which do not relate to historical matters. No person should rely on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in many cases, beyond SkyEurope Airlines’ control and may cause its actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by the forward-looking statements and from past results, performance or achievements. These forward-looking statements are made as of the Date of this presentation and are not intended to give any assurance as to future results. None of SkyEurope Airlines, its employee and representatives assume any obligation to update these statements. Disclaimer

3. Welcome on board!

4. SkyEurope’s home market 8 Central European countries and 75 million inhabitants joined the EU on 1 May 2004 Strong economic development triggered by removal of borders Increased mobility for both tourism and trade Lack of competitive ground transportation Krakow

5. SkyEurope Concept Started in Bratislava because: –There was a gap in the market: no schedule airline in Slovakia after Czechoslovak separation –Proximity to Vienna (only 50 km) making Bratislava the “Stansted Airport” of Vienna, with free parking and SkyShuttle bus –As the first low-cost airline in a low cost country, SkyEurope benefits from a competitive cost structure Business development strategy: –“connecting the dots” in a multi-base network – instead of a traditional airlines’ hub-and-spoke network –Base in Budapest since November 2003 –Bases in Warsaw since May 2004 and in Krakow since September 2004 –Additional bases planned in Central & Eastern Europe

6. Founders Alain Skowronek –EBA Express (Belgium): first low cost airline in Europe; –Strategic sale to Virgin Express in 1996; IPO in 1997; –Former General Manager of City Bird Airlines. Christian Mandl –EU-related projects in Central & Eastern Europe; –Business Development consultancy in Bratislava.

7. Investors European equity funds of: acting as depositary for Institutional Investors Shareholding structure: 52% SkyEurope Holding (EBRD and funds of ABN-Amro, EIF) 28% Institutional Investors (held in deposit by BA-CA) 20% Founders

8. SkyEurope Network Present in Hungary, Slovakia and Poland Covering 70% of the “New Europe” population Bases in Budapest, Bratislava, Krakow and Warsaw 13 aircraft in 2004 12 countries 20 destinations 43 routes 271 weekly services Summer 2005 network – subject to changes

9. Highlights of 2004 Delivered:  Close to 1,000,000 transported in 2004.  Recorded 130,000 monthly passengers in August 2004.  458% passenger growth compared to 2003.  Budapest base successfully established.  Launch of bases in Warsaw in May and in Krakow in September 2004.

10. Number 1 in Bratislava and Budapest Based on airport data where available and market intelligence

11. Strong position in Poland Based on airport data where available and market intelligenceNote: Air Polonia ceased operations on 5 December 2004

12. Boeing 737 – “Miss Europe”

13. First Low Carrier to carry Pope John Paul II

14. Marketing Central Europe

15. SkyEurope’s key advantages SkyEurope benefits from: –Low cost airline in a low cost country: unique position as de facto “national carrier” of Slovakia –First mover advantage: 3 years of experience in Central Europe –Recognised brand –Multi-base network –Presence not only on East-West but also on East-East traffic –Strong financial investors

16. Quote from “The Economist” Although Wizz Air claims that its base in densely populated Katowice will pay off, it may struggle to stimulate demand among still hard-up Poles, or to lure British and Italian passengers to drab Silesia. SkyEurope, with its first-mover advantage, is the likeliest to succeed. With low costs and ample slots at its base in Slovakia, which forfeited its national airline after splitting from the Czech Republic in 1993, it markets Bratislava as a secondary airport for nearby Vienna, allowing it to tap into demand for low-fare services from wealthier Austrians. As Christian Mandl, SkyEurope's Belgian chief executive, puts it, “We have the best of both worlds.” “SkyEurope, with its first-mover advantage, is the likeliest to succeed.” 15 May 2004 - The Economist

17. Thank you

18. SkyEurope Airlines Ivanska cesta 26 P.O. Box 24 820 01 Bratislava 21 Slovakia Phone:+421 2 4850 1111 Fax:+421 2 4850 1000 Chairman:alain.skowronek@skyeurope.com CEO:christian.mandl@skyeurope.com CFO:juraj.koman@skyeurope.com Investor Relations:jaroslav.sopuch@skyeurope.com Contact