Wednesday, May 29, 2002

Peachtree City's airline picks up $20 million in new flight contracts

Peachtree City-based World Airways, Inc. announced several new contracts last week totaling almost $20 million.

Under a $2.5 million contract with a new customer, World Airways will provide passenger service using a DC-10-30 aircraft between JFK Airport in New York City and Port-au-Prince, Haiti.

World will support the tour operator with two flights per week from June through the end of September.

The company has also placed an additional cargo aircraft with a current customer through December 25, 2002. This represents approximately $7 million in additional cargo revenue for the Company. In addition, World Airways has assumed additional fixed-buy flying for the Air Mobility Command (AMC) from another team member who did not have the necessary load capacity.

This additional AMC flying is valued at about $10 million and will take place between May 9 and September 29.

According to Hollis Harris, chairman and CEO of World Airways, "One of our goals this year is to work aggressively to add new customers, and the recent new business with tour operators for summer passenger business is quite encouraging. Expanding our business with existing clients, to capitalize on the strong relationships we've built and the new growth opportunities is another priority, and these contracts for cargo support and additional AMC flying are positive indicators that we're making strong progress."

World Airways also announced the conversion of two MD-11 aircraft to permanent freighters by Aeronavali, at the lessor's cost. The company's decision to convert the aircraft from convertible freighters to permanent freighters is tied to forecasts for a strengthening global cargo market.

The first aircraft is scheduled to be completed in June and the second is scheduled for later this year.

Utilizing a well-maintained fleet of international range, wide-body aircraft, World Airways has an enviable record of safety, reliability and customer service spanning 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, and ability to provide superior service, World Airways meets the global needs of businesses and governments.

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