Friday, July 13, 2001

World Airways lands major contract

Peachtree City's World Airways Inc. recently announced that it has signed a three-year contract with Pan Airlines Cargo to operate two DC10-30F aircraft, which will fly from Miami and Los Angeles to cities in Central and South America.

World Airways expects this contract to generate revenues in excess of $28 million on an annual basis for a total estimated value over the contract period of $84 million.

The first aircraft began operation Monday and the second aircraft will start Aug. 1.

"This contract is a tribute to the World Airways team, who have signed up a new customer for the two DC-10-30F aircraft added to our fleet in the last six months," said Hollis Harris, World Airways chairman and CEO. "What makes this especially gratifying is the fact that the world cargo market has been sluggish in the midst of the economic situation, as well as the fact that our team accomplished this against tough competition."

The company plans to add two more DC-10-30F aircraft between now and year-end.

Harris concluded, "With our two new aircraft now booked to support Pan Airlines, we are optimistic about our goal for achieving profitability in the third and fourth quarters."

Utilizing a fleet of international range, wide-body aircraft, World Airways has been in business 53 years.

The company is a U.S.-certificated air carrier providing customized transportation services for major international passenger and cargo carriers, the United States military and international leisure tour operators.

Recognized for its modern aircraft, flexibility and ability to provide superior service, World Airways meets the needs of businesses and governments around the globe.

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