World Air Holdings To Lease Boeing 747-400 Freighters
12 Dezember 2005 - 2:09PM
PR Newswire (US)
Deliveries to begin in 2008 PEACHTREE CITY, Ga., Dec. 12
/PRNewswire-FirstCall/ -- World Air Holdings, Inc. (NASDAQ:WLDAE),
parent company of World Airways and North American Airlines, today
announced it has signed a letter of intent to lease three Boeing
747-400 Special Freighter aircraft, contingent upon approval by the
lessor's board of directors. The aircraft will be converted from
passenger configuration to freighters prior to delivery, with the
first aircraft scheduled to be delivered in June of 2008.
Additional deliveries are planned in November 2008 and May 2009.
"This is a significant milestone for our company, as we have been
looking for some time to expand our product offering in the growing
air cargo market," said Jeff MacKinney, World Air Holdings
president. "We believe the 747-400 freighter is, and will continue
to be, a vital component of the international air freight market,
particularly to and from markets in Asia. These aircraft will allow
us to continue to build our ACMI cargo business, where we have seen
solid growth and new long-term contracts with our existing MD-11
freighter fleet." The three 747-400SF aircraft, to be leased under
seven-year terms, were formerly operated by United Airlines as
passenger aircraft. World Air Holdings has three wholly owned
subsidiaries, World Airways, Inc., North American Airlines, Inc.,
and World Risk Solutions, Ltd. World Airways is a charter passenger
and cargo airline founded in 1948, North American is a charter
passenger airline founded in 1989, and World Risk Solutions is an
insurance subsidiary established in 2004. For additional
information, visit http://www.worldairholdings.com/ ["Safe Harbor"
statement under the Private Securities Litigation Reform Act of
1995: This release contains forward looking statements that are
subject to risks and uncertainties including, but not limited to,
the impact of competition in the market for air transportation
services, the cyclical nature of the air carrier business, reliance
on key marketing relationships, fluctuations in operating results
and other risks detailed from time to time in the company's
periodic reports filed with the SEC (reports are available from the
company upon request). These various risks and uncertainties may
cause the company's actual results to differ materially from those
expressed in any of the forward looking statements made by, or on
behalf of the company in this release.] DATASOURCE: World Air
Holdings, Inc. CONTACT: Media, Steve Forsyth, +1-770-632-8322, or
Investors, Janice Kuntz, +1-404-352-2841, both of World Air
Holdings, Inc. Web site: http://www.worldairholdings.com/
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