http://www.worldairways.com./news/20050308.html
WORLD AIRWAYS TO OPERATE CARGO SERVICE TO ASIA AND EUROPE FOR AIR CANADA
PEACHTREE CITY, Ga. (March 8, 2005) – World Airways, a wholly owned subsidiary of World Air Holdings, Inc. (NASDAQ: WLDA) has signed a two-year ACMI wet-lease contract with Air Canada for international cargo service between Toronto, Canada and several cities in Asia, and between Toronto and Europe. Under the agreement, World will operate an MD-11F freighter aircraft for Air Canada beginning in May 2005. The contract has an estimated value of $44 million.
“Air Canada is a leader in the airline industry, and we welcome the opportunity to partner with them as they expand their cargo operation,” said Rob Binns, World’s senior vice president, marketing and planning. “ This agreement extends World’s presence in the flourishing Asian cargo markets.”
World Airways, a wholly owned subsidiary of World Air Holdings, Inc., is a U.S.-certificated air carrier providing customized transportation services for major international cargo and passenger carriers, the United States military, and international leisure tour operators. Founded in 1948, World operates a fleet of 16 wide-body aircraft to meet the specialized needs of its customers. For information, visit
www.worldairways.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.]