World Airways
 

FOR IMMEDIATE RELEASE

MEDIA CONTACT: INVESTOR CONTACT:
Steve Forsyth Janice Kuntz
(770) 632-8322 (404) 352-2841


WORLD AIR HOLDINGS TO LEASE BOEING 747-400 FREIGHTERS

Deliveries to begin in 2008

PEACHTREE CITY, Ga. (Dec. 12, 2005) – 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 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.]

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World will be entering a crowded field. I wonder why they think they can make inroads into the business of Atlas, Evergreen, Kalitta, Southern etc.?

Under Ed Daly, World had operated 742s in cargo and pax configuration in the 1970s.

thats true glueball, i remember the well, used to work for them in the 80's

Looks like the World pilots may be heading for a strike.



PEACHTREE CITY, Ga., Dec. 15 /PRNewswire/ -- More than 50 World Airways
pilots from across the country traveled to Atlanta to picket the company's
headquarters, voicing their frustration over contract negotiations with the
Peachtree City, Georgia-based company.
"These pilots have taken time away from their families and have traveled
from as far away as Alaska to show their unhappiness with the company's
tactics during the negotiating process," said Captain Biagio Cannistraci, a
spokesperson for the pilots. "Despite the inclement weather, we have had an
outstanding turnout. We are united in our efforts to obtain a fair and
equitable contract."
After more than two years of negotiations mediated by National Mediation
Board representatives, the group of more than 400 pilots recently sought
release from negotiations -- the first step toward a possible strike. The
pilots' key issues are job security, medical insurance and fair compensation.
"The Teamsters Union is concerned that both the World Airways and North
American Airways pilots are treated fairly," said Don Treichler, Director of
the Teamsters Airline Division. "We intend to bargain a contract that is fair
and equitable to both pilot groups."

Good luck, World people...

TT

Pilots released from mediation. Cooling off period now for 30 days

Non sched



World Air Is Released From Mediation

All Associated Press NewsPEACHTREE CITY, Ga. (AP) - World Air Holdings Inc., parent of World Airways, said Thursday the National Mediation Board released it and its pilots, represented by the International Brotherhood of Teamsters, from a mediation that began nearly two years earlier.

The National Mediation Board issued notice of the release Dec. 28, initiating a 30-day cooling-off period. World Air and the pilots' union had requested to be released from mediation after the union negotiating team rejected the company's final offer.