World Airways Renegotiates Leases for Three MD-11 Passenger Aircraft
Posted on: Wednesday, 12 April 2006, 09:00 CDT
PEACHTREE CITY, Ga., April 12 /PRNewswire-FirstCall/ -- World Airways, a wholly owned subsidiary of World Air Holdings, Inc. , has signed leases for two MD-11 passenger aircraft in its fleet, with a third lease to be completed later this month. World Airways formerly subleased the three aircraft from Delta Air Lines until the leases were rejected by Delta in bankruptcy court in September 2005. The leases with the new aircraft owner are on staggered terms through March 2008. World Airways operated the aircraft from September to April under an interim agreement with the previous owners, who had formerly leased them to Delta.
World Airways 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. Founded in 1948, World operates a fleet of 17 wide-body aircraft to meet the specialized needs of its customers. For information, visit http://www.worldairways.com/.
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/
World Air Holdings, Inc.
CONTACT: MEDIA, Steve Forsyth, +1-770-632-8322, or INVESTORS, JaniceKuntz, +1-404-352-2841, both of World Air Holdings, Inc.
Web site: http://www.worldairways.com/http://www.worldairholdings.com/
Source: PRNewswire-FirstCall
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