Management Aviation S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

6922767 Holding S.à r.l.

Ratio of Earnings to Fixed Charges

(Dollars in thousands)

	Successor															Predecessor
	As at and for the six months ended October 31,						As at and for the year ended April 30,						Period from September 16, 2008 to April 30,			Period from May 1, 2008 to September 15,			As at and for the year ended April 30,
	2011			2010			2011			2010			2009			2008			2008			2007
Fixed Charges:
Interest, including amortization of deferred financing charges, discounts and other charges	$	66,517		$	91,394		$	153,389		$	84,969		$	46,416		$	30,095		$	63,406		$	50,443
Interest portion of rental payments		38,300			38,877			77,273			70,483			48,959			28,772			71,277			53,782
Total fixed charges	$	104,817		$	130,271		$	230,662		$	155,452		$	95,375		$	58,867		$	134,683		$	104,225
Loss from continuing operations before income taxes and earnings (loss) from equity accounted investees, plus distributed income from equity investees less capitalized interest	$	(13,721	)	$	(45,026	)	$	(97,142	)	$	(65,930	)	$	(714,452	)	$	(61,125	)	$	(4,576	)	$	(40,611	)
Plus: fixed charges (calculated above)		104,817			130,271			230,662			155,452			95,375			58,867			134,683			104,225
Earnings available to cover fixed charges	$	91,096		$	85,245		$	133,520		$	89,522		$	(619,077	)	$	(2,258	)	$	130,107		$	63,614
Ratio of earnings to fixed charges		—	(1)		—	(2)		—	(3)		—	(4)		—	(5)		—	(6)		—	(7)		—	(8)

(1) Earnings were insufficient to cover fixed charges by $13.7 million for the six months ended October 31, 2011.

(2) Earnings were insufficient to cover fixed charges by $45.0 million for the six months ended October 31, 2010.

(3) Earnings were insufficient to cover fixed charges by $97.1 million for the year ended April 30, 2011.

(4) Earnings were insufficient to cover fixed charges by $65.9 million for the year ended April 30, 2010.

(5) Earnings were insufficient to cover fixed charges by $714.5 million for the period from September 16, 2008 to April 30, 2009.

(6) Earnings were insufficient to cover fixed charges by $61.1 million for the period from May 1, 2008 to September 15, 2008.

(7) Earnings were insufficient to cover fixed charges by $4.6 million for the year ended April 30, 2008.

(8) Earnings were insufficient to cover fixed charges by $40.6 million for the year ended April 30, 2007.