"We've made tremendous

progress this year, and our forecast for the third quarter and full year

is strong," said Hollis Harris, World Airways chairman and CEO. "The

federal loan guarantee is an important step in the effort to improve our

balance sheet and support our future growth plans.�We are absolutely committed

to finding ways to come to an agreement with our major debenture holders

and to securing approval of the federal loan guarantee."

Utilizing a well-maintained

fleet of international range, wide-body aircraft, World Airways, Inc.

has an enviable record of safety, reliability and customer service spanning

more than 55 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, Inc. meets the needs of businesses

and governments around the globe.

For more information, visit

the Company's Web site at www.worldair.com.

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