World Airways and Its Pilots Reach Tentative Agreement
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PEACHTREE CITY, Ga., Feb. 5 /PRNewswire-FirstCall/ -- World Airways, a wholly owned subsidiary of World Air Holdings, Inc. WLDAE, has reached a tentative agreement with the International Brotherhood of Teamsters (IBT) for a three-year extension of a contract with World's 430 pilots.
Today's agreement ends a week-long strike by World Airways pilots. They will return to work immediately and begin the contract ratification process, which is expected to take up to 30 days. World Airways is contacting customers to resume operations.
More information will be available from the company on Monday, Feb. 6, 2006.
World Airways, a wholly owned subsidiary of World Air Holdings, Inc., is a U.S.-certificated air carrier providing customized transportation services for major international passenger and cargo carriers, the United States military, major freight forwarders and international leisure tour operators. Founded in 1948, World operates a fleet of 17 wide-body aircraft to meet the specialized needs of its customers. For information, visit
http://www.worldairways.com.
World Air Holdings has three wholly owned subsidiaries, World Airways, Inc., North American Airlines, Inc. and World Risk Solutions, Ltd. World Airways is a charter passenger and cargo airline founded in 1948, North American is a charter passenger airline founded in 1989, and World Risk Solutions is an insurance subsidiary established in 2004. For additional information, visit
http://www.worldairholdings.com.
["Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties including, but not limited to, the impact of competition in the market for air transportation services, the cyclical nature of the air carrier business, reliance on key marketing relationships, fluctuations in operating results and other risks detailed from time to time in the company's periodic reports filed with the SEC (reports are available from the company upon request). These various risks and uncertainties may cause the company's actual results to differ materially from those expressed in any of the forward looking statements made by, or on behalf of the company in this release.]
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