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<h1>International Air Transport Profits Taxable Only in Enterprise's State; Includes Joint Ventures and Aircraft Operations.</h1> Profits from international air transport operations by an enterprise of a Contracting State are taxable only in that State. This includes profits from participation in a pool, joint business, or international operating agency. Interest on funds related to aircraft operations is also considered part of these profits, excluding the application of Article 12. 'Operation of aircraft' encompasses air transportation of passengers, mail, livestock, or goods by owners, lessees, or charterers, including ticket sales for other enterprises, incidental aircraft leasing, and related activities.