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North American Airlines Settles California Pilot Lawsuit

Posted on: Monday, 15 May 2006, 18:03 CDT

JAMAICA, N.Y., May 15 /PRNewswire-FirstCall/ -- North American Airlines, a wholly owned subsidiary of World Air Holdings, Inc. , has announced a full and complete settlement totaling $2.3 million to resolve a California lawsuit filed by former pilot Randall Otto.

Otto had previously won a jury verdict for actual and punitive damages of $12.6 million in December 2005, which was reduced after post-trial motions to $3.1 million in a ruling by the Alameda County judge in March 2006. Otto originally filed his lawsuit in 2003, alleging wrongful termination.

World Air Holdings recorded a $12.5 million accrual in the third quarter of 2005 for the full amount of the pending court judgment. That amount will be adjusted in the company's fourth quarter 2005 filing to reflect the actual expense.

North American is a U.S.-certificated air carrier offering air transportation services throughout the world for the U.S. military and commercial customers. Founded in 1989, North American operates a fleet of nine passenger aircraft in charter and scheduled service. For information, visit http://www.northamericanair.com/

World Air Holdings, Inc., based in Peachtree City, Ga., has three wholly owned subsidiaries, World Airways, Inc., North American Airlines, Inc., and World Risk Solutions, Ltd. For 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.worldairholdings.com/http://www.northamericanair.com/

Source: PRNewswire-FirstCall

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