jmc

The Nigerian lawsuit has been given class action status. No telling when the case will be tried

http://www.waclassaction.com/

The pilot lawsuit has been settled for 2.8 million. The jury award was for 12.5 million and that money was set aside in the 3rd quarter last year. Most of that will now show on the books as profit. This lawsuit was against North American by the way and was filed before World bought them.

The delisting from NASDAQ is the result a combination of events. NA accounting practices were substantially different from World's since they were privately held and they had to be brought into line with those of a publicly held company. At the same time the Sarbanes Oxley law created new and difficult accounting standards that a lot of companies are having trouble complying with. So much so that many companies have left the exchanges all together. Hopefully World will finally get it together and be relisted.

World recently paid off it's stabilization board loan early and is essentially debt free with cash on hand. Plans are to bring some 747's online in 2008. Of course we're losing some MD-11's in about the same time frame and the future of the DC-10 is up in the air right now so no net gain. Mgt has stated they want World to be an all cargo airline in the future with NA doing the passenger work. Who knows how that will work out.

Hope this helps.[/I][/I]

YES, that helps. Just wanted a first hand experience from someone who may be in the know. I would think World would hold onto its' military contracts transporting troops and supplies, as it is famous for. What hapened to that business? As for NA, hopefully that pax business can pick up, but only if they do not treat pax like the Nigerians who were stranded. I feel like management really dropped the ball on that end.

Mike