Thompson on Tue, 18 Feb 2003 19:25:02 +0100 (CET) |
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[Nettime-bold] Major Airline play L Air (LAIR) gets $18 million contract 21792 |
February 13th, 2003 Press Release SOURCE: L-Air Holding, Inc. L-Air Holding, Inc. Announces $18 million contract with VGAA. TORONTO, Ontario--(BUSINESS WIRE)—February 13, 2003. L-Air Holding, Inc, (the "Company") (OTCBB:LAIR - News) announces it has executed a contract for the benefit of "Belgium Universal Airlines" with the Brussels based Tour Operator VGAA N.V., with registered offices at 400 Leopold I, represented by Mr. H. YERISTAN. Under the terms of this agreement, Belgium Universal Airlines will operate a route from Brussels to Yerevan with a stop in Lyon France then to Los Angeles (LAX) once a week with an Airbus A340-300 in a three class configuration for the benefit of VGAA N.V. Belgium Universal Airlines will receive as payment for this rotation the sum of US$360,000 per week in advance of the rotation. This will generate a recurring annual revenue stream of over $18,000,000 dollars for under 40 hours of flight per week. An Airbus A340-300 has the capability of flying close to 120 hours a week. The Company has finalized negotiations to contract with a major aircraft manufacturer to lease five A340-300’s for its fleet operations. The Airline plans to begin flight operations in April 2003, or as soon as it's Air Operating Certificate will be approved by Belgium Civil Aviation Authorities. It will then operate two A340 Aircraft and will increase its fleet to five Aircrafts by the end of 2003. The anticipated network BUA will be operating for the coming Spring/Summer season, including such destinations as Punta Cana (Dominican Republic), Toronto, Montreal, Delhi, as well as Yerevan Lyon and Los Angeles, all departing from Brussels. The fall/winter will see an addition of new destinations including Tokyo, Bangkok, Dubai, St Marteen, and Mauritius Island. A highly qualified team of managers all trained and experienced from SABENA will lead this venture to re- instate a global network from Brussels, Belgium, which has traditionally been a major European Hub with NATO and the European Commissions based there. There hasn't been a major carrier based in Belgian since the closure of the Belgian national carrier, Sabena, after the collapse of its parent Company Swiss Air in 2001. This has left a vacuum at this important international hub, with major direct routes having gone under serviced. L-Air Holding, Inc., through its acquisition of Belgian Universal Airlines, will once again revive many of these routes. The Company has also amended its articles of incorporation to prohibit the registration of shares of New Common in the name of DTC or any other securities clearing house. The Company believes these registration restrictions may force speculators who have previously sold stock in naked short transaction to cover their prior short sale by purchasing stock in the open market. About the Company–Belgian Universal Airlines (OTCBB: LAIR) Europe needs a safe, decent and well run Airline, managed by highly qualified and experienced staff, that will provide good service at a fair price for everyone. Since the closure of Sabena in 2001 (the Belgian National Airline) due to Swiss Air's bankruptcy (Swiss Air had recently bought Sabena), there has been a need to revive the once thriving wide International Flight Network based in Brussels. In addition, since the September 11 tragedy, carriers that are not terrorist targets are increasingly being called upon to pick up these routes. Through an acquisition of 49% of Belgian Universal Airlines by OTCBB: LAIR, UCP and Sabena's Captain Raymond Nicolaï are now preparing to meet this need. Universal Capital Partners (UCP) is currently negotiating with the airline to finalize an acquisition that will give 49% ownership to OTCBB: LAIR. UCP is the single largest shareholder of OTCBB: LAIR currently. This structure is necessary to meet ownership requirements mandating that 51% of a European air carrier be European owned. Captain Raymond Nicolaï has dedicated his life to Aviation since 1968. He is an ex-Belgian Air Force fighter pilot and is an instructor on many types of Aircraft including the company's chosen A340. Captain Nicolaï is bringing many of the former Sabena management and staff that will comprise the bulk of the company's 200 plus in number workforce. These well-trained ex-Sabena staff members are dedicated to the Company’s (OTCBB: LAIR) mission of creating a new Belgian National Airline that represents excellence in all aspects, including on-time flights, the highest level of customer service, cost efficiencies in operations and maximization of profitability for its investors. With the addition of many new international direct routes to markets including Asia, Middle East, Africa, Caribbean, Canada, USA and Europe the Company has a better than average chance of achieving success due to the lack of any competition servicing these routes currently. Belgian Universal will operate a fleet of 5 Airbus A340-300 aircraft capable of seating 220 Economy seats, 30 Business class full comfort pitch seat, and 10 First class sleeperettes. All Belgian Universal's aircraft feature roomy seats each equipped with satellite phones and full individual multi-media systems capable of delivering many different forms of entertainment, including: a large selection of movies/videos, music (MP3 and other format), computer/video games, and the soon to be offered "on-board" Internet services. All available at every seat along with the many high-quality amenities not found on existing air carriers competing with the Company (OTCBB: LAIR). With Belgian Universal, all seats are assigned, a good percentage of travel is ticketless, all fares are one way, and a Saturday night stay is never required. For more information, schedules and fares etc., please visit the web site at: l-air-holding.com. Press releases can be found on lair-holding.com. Airline industry experts agree that the most promising source of revenue growth with the current political situation and insurance cost nightmare for U.S. and other majors is within the group of small carriers with high-traffic routes and low-maintenance cost aircraft. Focusing on profitable long haul routes with low cost maintenance jets, while providing exceptional customer service, OTCBB: LAIR is one of these carriers. The Company’s commitment to cost efficiencies and customer satisfaction is at the core of its business model, just like JetBlue (NASDAQ: JBLU), Southwest Air (NYSE: LUV), and easyJet.com, all of whom are very successful within their respective markets and industry leaders. This international carrier is on the path to success. Visit L-Air-holding.com for more information. ********************************************************** *** Special Financial-Stock Opt-in mailing list Offer *** As a member of our special financial opt-in mailing list, you will be among the first to receive up to the minute information regarding the companies we profile above as well as a free 10-day trial to a website with real-time Level II quotes, research reports, OTC BB promo / syndication calendar, trading chat rooms, full threading message boards, along with many other valuable and free investment tools not readily available to the general public. This is an incredible opportunity! Just click the link below to send us an email to start the process. Please be sure that "opt-in" is in the subject line of the email. If opt-in is not in the subject line your email will not be processed. This is your first step to becoming a member of the opt-in list. You will be contacted at the email address that you respond to this email with the final details. Thank you. MailTo:elv669@excite.com?Subject=opt-in ***********************Disclaimer******************** The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release and other information within this email contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to goals, predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." 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In compliance with the Securities Act of 1933, Section17(b), Undervalued Weekly Reporter discloses the receipt of 167,500 unrestricted shares of LAIR from a third party for the publication of this report. Be aware of an inherent conflict of interest resulting from such compensation due to our intent to profit from the liquidation of these shares. Shares may be sold at any time, even after positive statements have been made regarding the above company. All factual information in this report was gathered from public sources, including but not limited to SEC filings, Company Press Releases, and Market Guide. Undervalued Weekly Reporter believes this information to be reliable but can make no guarantee as to its accuracy or completeness. Use of the material within this email constitutes your acceptance of these terms. ****** Advertising Disclaimer ****** We are an Internet Advertising company. We have received a monetary payment for this mailing service. 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