World Airways signs big cargo contract

World Airways

signs big cargo contract

Peachtree City's

World Airways Inc. recently announced that it has signed a three-year

contract with Pan Airlines Cargo to operate two DC10-30F aircraft, which

will fly from Miami and Los Angeles to cities in Central and South America.

World Airways

expects this contract to generate revenues in excess of $28 million on

an annual basis for a total estimated value over the contract period of

$84 million.

The first aircraft

began operation Monday and the second will start Aug. 1.

Hollis Harris,

World Airways chairman and CEO, said, "This contract is a tribute

to the World Airways team, who have signed up a new customer for the two

DC-10-30F aircraft added to our fleet in the last six months. What makes

this especially gratifying is the fact that the world cargo market has

been sluggish in the midst of the economic situation, as well as the fact

that our team accomplished this against tough competition."

The company

plans to add two more DC-10-30F aircraft between now and year-end.

Harris concluded,

"With our two new aircraft now booked to support Pan Airlines, we

are optimistic about our goal for achieving profitability in the third

and fourth quarters."

Utilizing a

fleet of international range, wide-body aircraft, World Airways has operated

for 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, flexibility and ability to provide superior service,

World Airways meets the needs of businesses and governments around the

globe.

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