[Nettime-bold] Stock doubling trades on the OTC BB 21666

["Johnny Phelps" <hsmiller@skipulag.is>]

NEW BELGIAN CARRIER; EX-SINGAPORE AIRCRAFT

OTCBB: LAIR - SPEEDNEWS.com reports on LAIR's lease 
with BOEING for 5-Airbus A340-300 jets

Press Release 
SOURCE: Speednews this week. 
Visit:  speednews.com/stw/default.html#belgium

L-Air Holding of Canada this week announced it has 
executed a contract for the benefit of startup carrier
Belgium Universal Airways with the Brussels based Tour
Operator VGAA N.V.

Under the terms of this agreement, Belgium Universal 
Airways 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.

The Airline says it has reached agreement with Boeing 
to lease two ex-Singapore A340-300s, and plans to begin
flight operations in April 2003, or as soon as its Air
Operating Certificate is approved by Belgium Civil 
Aviation Authorities. It plans to increase its fleet 
to five aircraft by the end of 2003.

The anticipated network BUA will be operating for the
coming Spring/Summer season includes 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.

L-Air Holding is currently negotiating to acquire 49% 
of Belgium Universal Airways.

Other Major Recent News - 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 Airways with the Brussels based Tour
Operator VGAA N.V., with registered offices at 400
Leopold I, represented by Mr. H. YERISTAN.

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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.
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