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WLD-2004-01-MD-11 FOR SONAIR
WLD-2005 9 MTHS
FOUNDED AND STARTED OPERATIONS IN 1948. CLOSED DOWN IN 1986. RESTARTED IN 1993. DOMESTIC, REGIONAL, INTERNATIONAL, SCHEDULED, PASSENGER AND CARGO, JET AIRPLANE SERVICE.
HLH BUILDING, 101 WORLD DRIVE
PEACHTREE CITY, GEORGIA 30269, USA
USA (United States of America) was established in 1776, it covers an area of 9,363,123 sq km, its population is 280 million, its capital city is Washington DC, and its official language is English.
AUGUST 1995: WORLDCORP OWNS 59% OF WORLD AIRWAYS (WLD), AND MALAYSIAN HELICOPTERS 17%, INVESTORS 24%.
PRATT & WHITNEY (P&W) 10 YEAR CONTRACT, TO MAINTAIN (PW4462) ENGINES, OFF 7 MD-11 AIRPLANES AT CHESHIRE, CONNECTICUT.
OCTOBER 1995: APPROVAL FOR MD-11 CARGO SERVICE FROM USA WEST COAST TO MELBOURNE (MEL) VIA PENANG & KUALA LUMPUR.
JANUARY 1996: 1995 BLOCK HOURS FLOWN +41%, UTILIZATION 9.9 BLOCK HOURS/DAY (+1.1).
WORLD AIRWAYS (WLD) APPLIED FOR LOS ANGELES (LAX) TO LONDON STANSTED, NEW YORK (JFK), NEWARK, & PHILADELPHIA, TO BELFAST, AND/OR DUBLIN/SHANNON, SAN JUAN, PUERTO RICO TO COLOGNE/BONN, VIA MANCHESTER, WITH DC-10-30, 347 PASSENGER (PAX), & MD-11, 409 PAX.
1995 = +$8.9 MILLION (NET PROFIT) (-$9 MILLION).
FEBRUARY 1996: WORLD AIRWAYS (WLD) IS THE LAUNCH CUSTOMER OF THE MD-11ER WITH 2 LEASED, 1ST IN MARCH 1996, 7,200 NAUTICAL MILES RANGE, 1,500 LBS LIGHTER, +3,000 GALLONS FUEL IN AUXILIARY FUEL TANK. CURRENTLY OPERATES 6 DC-10'S, & 7 MD-11'S.
TO JEDDAH FROM JAKARTA FOR GARUDA INDONESIA (GIA). +2 MD-11ER'S (PW4460) (48743; 48766), WHITE TAILS.
MARCH 1996: CHARLES POLLARD PRESIDENT & (CEO); T COLEMAN ANDREWS CHAIRMAN.
AWARDED NEW YORK TO JOHANNESBURG VIA ACCRA, GHANA (MD-11). CODE SHARE WITH CONTINENTAL AIRLINES (CAL) IN USA, & ISRAEL, SOUTH AFRICA, & IRELAND.
MD-11, 27 BUSINESS (C), 316 ECONOMY (Y) DELIVERY.
APRIL 1996: TO SAN JUAN, PUERTO RICO & PUERTO PLATA, DOMINICAN REPUBLIC TO COLOGNE, GERMANY (DC-10-30, 347 PAX).
2 DC-10-30'S (CF6-50C/C2) (46955; 48282), MALAYSIA AIRLINES (MAS) LEASED.
799 EMPLOYEES (INCLUDING 498 FLIGHT CREW (FC).
MAY 1996: WET-LEASED 1 DC-10-30 & 2 MD-11ER'S TO PHILIPPINE AIRLINES (PAL) FOR DIRECT CARGO SERVICE TO USA. DC-10-30 "D" MAINTENANCE CHECK BY ALITALIA (ALI).
SEPTEMBER 1996: 1 YEAR RENEWAL OF (USF) CONTRACT ($55 MILLION) TO TRANSPORT MILITARY PERSONNEL TO BASES IN FAR EAST, EUROPE & MIDDLE EAST. HAS BEEN FLYING USA MILITARY PERSONNEL SINCE 1956.
CHARLES POLLARD PRESIDENT & CEO SAID WORLD AIRWAYS (WLD) IS TO PHASE OUT ITS SCHEDULED PASSENGER (PAX) SERVICES FOR $15 TO $20 MILLION, AD HOC CONTRACT AWARD.
OCTOBER 1996: IN 1997, EXPECT 82% BUSINESS VOLUME TO BE OUTSOURCING TO MAJOR INTERNATIONAL CARRIERS, 12% (USAF) CHARTERS, WITH 6% FOR OTHER CHARTERS. 32 MONTH $92.3 MILLION, 2 DC-10-30'S WET-LEASED TO MALAYSIA AIRLINES (MAS), INCLUDING AIR CREW & MAINTENANCE.
NOVEMBER 1996: $18 MILLION MD-11 WET-LEASE, JUNE 1997 TO FEBRUARY 1998 TO UNNAMED EUROPEAN CARRIER.
JANUARY 1997: $30 MILLION CONTRACT TO WET-LEASE 2 DC-10-30'S & 4 MD-11'S TO GARUDA INDONESIA (GIA) FOR THE HADJ.
APRIL 1997: RUSSELL RAY INTERIM PRESIDENT & (CEO) (EX-PAN AM (PAA) & EASTERN AIRLINES (EAL)), REPLACES CHARLES POLLARD.
799 EMPLOYEES (INCLUDING 498 FLIGHT CREW (FC)).
WORLD CORPORATION'S WALTER FIEDEROWICZ PRESIDENT & (CEO) SUCCEEDS COLEMAN ANDREWS CHAIRMAN. WORLD CORPORATION OWNS AVIATION,AS WELL AS TELECOMMUNICATION AND FINANCIAL SERVICES.
MAY 1997: SEEKING TO INCREASE WET-LEASE BUSINESS IN PACIFIC RIM, SOUTH AMERICA, EUROPE AND AFRICA.
JULY 1997: NO JULY 1997 WET-LEASE PAYMENT FROM PHILIPPINE AIRLINES (PAL) FOR 4 MD-11'S, USUALLY DRY-LEASED FOR $700,000 TO $1 MILLION & WET-LEASED FOR $4 MILLION/MONTH.
1996 = +$18.35 MILLION (+$14.15 MILLION).
RUSSELL RAY (CEO) SAID CORE WET-LEASE BUSINESS "CONTINUES TO EXCEED EXPECTATIONS."
RECENT SIGNING OF VASP (VSP) USING 2 EX-PHILIPPINE AIRLINES (PAL) AIRPLANES IS 1ST SOUTH AMERICAN CUSTOMER.
AUGUST 1997: RECEIVES LARGEST MILITARY CONTRACT >$74 MILLION TO TRANSPORT PERSONNEL TO FAR EAST, EUROPE, & MIDDLE EAST FOR 1 YEAR STARTING OCTOBER 1997.
DC-10-30 (48283) RETURNED TO MALAYSIA AIRLINES (MAS).
SEPTEMBER 1997: MD-11 (48458) RETURNED TO (GATX) (GAX) LEASING.
OCTOBER 1997: 780 EMPLOYEES (3RD QUARTER).
NOVEMBER 1997: 2 MD-11'S RETURNED FROM PHILIPPINE AIRLINES (PAL).
DECEMBER 1997: 6 MD-11'S WET-LEASED TO GARUDA INDONESIA (GIA) FOR HADJ, MARCH TO MAY 1998.
JANUARY 1998: 1 MD-11 TO BE WET-LEASED TO AER LINGUS (ARL) MAY TO OCTOBER 1998 FOR IRELAND TO USA. 1 MD-11 WET-LEASED TO EL AL (ELA), JUNE TO OCTOBER 1998.
1997 = +$11.5 MILLION (-$14 MILLION).
REPURCHASED 9.7% FOR $5.9 MILLION FROM (MHS) BERHAD, MALAYSIA. ALSO 40% FROM WORLDCORP.
MARCH 1998: 14 MONTH WET-LEASE OF DC-10-30F (1ST 2 MONTHS), & MD-11F (12 MONTHS) TO FLORIDA JET SUPPORT FOR USA CARGO SERVICE TO SOUTH AMERICA.
APRIL 1998: 799 EMPLOYEES (INCLUDING 498 FLIGHT CREW (FC)).
MAY 1998: TO WET-LEASE MD-11 409 PAX FOR MONARCH AIRLINES (MON) ON MANCHESTER TO BELFAST TO SANFORD, FLORIDA TO MANCHESTER TO BELFAST, & MANCHESTER TO LAS VEGAS. 6 MONTH CONTRACT, WITH VASP (VSP) FOR 1 MD-11 FROM JUNE 1998 IN ADDITION TO EXISTING DC-10-30F CONTRACT. CURRENTLY HAS CONTRACTS WITH AER LINGUS (ARL), AIR-INDIA (AIN), EL AL (ELA), FLORIDA JET, MONARCH AIRLINES (MON), & STAF AIRLINES (SDF).
JUNE 1998: RUSSELL RAY CHAIRMAN REPLACES COLEMAN ANDREWS WHO LEFT TO BECOME (CEO) OF SOUTH AFRICAN AIRWAYS (SAA).
SEPTEMBER 1998: 3 MD-11'S MAINTENANCE CONTRACT TO (PEMCO) WORLD SERVICES (1ST 2 AT DOTHAN, ALABAMA, & 3RD AT VICTORVILLE, CALIFORNIA).
TEAMS WITH MIAMI AIR (MIB) TO OFFER AD HOC PASSENGER (PAX) CHARTERS.
MD-11CF (48633) RETURNED FROM MALAYSIA AIRLINES (MAS), MD-11CF (48631) LEASED TO (MAS).
OCTOBER 1998: OPERATES FOR EMERY AIR FREIGHT (EAF), DAYTON TO BRUSSELS (MD-11).
NOVEMBER 1998: UTILIZATION AVERAGE FELL TO 8.1 HOURS (9.7 HOURS).
DC-10-30CF (46836) WET-LEASED TO TACA INTERNATIONAL (TAC) UNTIL DECEMBER 1998 TO ASSIST HONDURAS HURRICANE RELIEF. MD-11 (48743) RETURNED FROM MONARCH AIRLINES (MON).
DECEMBER 1998: RAYMOND KUPCHIK VP MAINTENANCE & QUALITY CONTROL.
MEMBER OF NATIONAL AIR CARRIER ASSOCIATION (NACA), INCLUDING (CKF), (OAE), (EVR), (MIB), (AAT), & (TOW).
MD-11 (48437, N272WA) RETURNED FROM AER LINGUS (ARL).
JANUARY 1999: OPERATES 2 MD-11'S FOR HADJ FOR AIRASIA (ASW).
FEBRUARY 1999: SELECTS (IASG) & BARLOW PARTNERS TO ADVISE ON FLEET RESTRUCTURING AND STRATEGY.
WORLDCORP, WHICH OWNS 59% OF WORLD AIRWAYS (WLD) FILED CHAPTER 11.
HEAVY MAINTENANCE CONTRACT FOR 8 USA-BASED DC-10/MD-11'S TO EAGLE ONE AVIATION, FORT WORTH, TEXAS.
MD-11 (563-48633, WET-LEASED TO EMERY AIR FREIGHT (EAF).
MARCH 1999: CONTRACT WITH PREMIER CRUISES FOR NEW YORK (JFK) TO EL PRATT AIRPORT, BARCELONA (MD-11) FOR TRANSPORTING PASSENGERS TO CRUISE SHIP "SS REMBRANDT" IN THE MEDITERRANEAN. ALSO SIGNED WITH MONARCH AIRLINES (MON) AND HOMERIC TOURS FOR PEAK SUMMER SEASON, NEW YORK (JFK) TO ATHENS ATHINAI AIRPORT (MD-11).
1998 = -$11 MILLION (+$11.5 MILLION) DUE IN PART TO WET-LEASES FROM ECONOMICALLY WEAKENED ASIAN CUSTOMERS.
APRIL 1999: HOLLIS HARRIS CHAIRMAN, PRESIDENT & CEO EX-AIR CANADA (SAME POSITION) REPLACES RUSSELL RAY, WHO RETIRED & CONTINUES AS A DIRECTOR.
1998 = -$2.7 MILLION (-$3 MILLION).
(firstname.lastname@example.org). SITA: IADSSWO. IADFSWO.
PLANS FOR SHIFT FROM ALL-PASSENGER TYPE CHARTERS TO CARGO CHARTERS AS WELL WITH 4 DC-10-30'S AND 8 MD-11'S. 1 MD-11, MARTINAIR (MTH) LEASED.
MAY 1999: 856 EMPLOYEES.
ANDREW MORGAN PRESIDENT & (COO).
MD-11 (506-48437, N272WA) WET-LEASED TO AER LINGUS (ARL) UNTIL 12/99.
MD-11 (597-48746, N278WA) SHORT TERM WET-LEASED TO MONARCH AIRLINES (MON).
AUGUST 1999: WORLDCORP REDUCES ITS STAKE IN WORLD AIRWAYS (WLD) TO 41%.
PLANS TO PHASE OUT ITS DC-10-30 AIRPLANES. 2 DC-10-30'S (46933; 46959) RETURNED TO MALAYSIA AIRLINES (MAS).
OCTOBER 1999: EXTENDS WET-LEASE OF MD-11F TO EMERY AIR FREIGHT (EAF), FOR DAYTON, TO BRUSSELS, THROUGH 2000-12, WORTH >$26.5 MILLION.
NOVEMBER 1999: OPERATES FOR RENAISSANCE CRUISES WITH FLIGHTS TO BARCELONA AND LISBON. EXPECTS +$294 MILLION FROM MULTI-YEAR, RENAISSANCE CRUISES CONTRACT OVER 3 YEARS, & EXTENSION OF ITS EMERY AIR FREIGHT (EAF) CONTRACT FOR >+$26.5 MILLION BY END OF 2000. CASH POSITION = +$13.2 MILLION (+$11.5 MILLION).
PLANS TO OPERATE 1 TYPE (DC-10) BY 2000-02. $7 MILLION CONTRACT EXTENSION TO SUMMER 2000 FOR MD-11 WET-LEASE TO AER LINGUS (ARL).
JANUARY 2000: RECEIVES $13.5 MILLION CONTRACT FROM USA AIRFORCE (USF) FOR PASSENGER CHARTER FLIGHTS ACROSS PACIFIC FOR AIR MOBILITY COMMAND. WORLD AIRWAYS (WLD) HAS FLOWN FLIGHTS FOR (USF), SINCE 1956.
FEBRUARY 2000: 1999 = -$7.6 MILLION (+30.9%).
EXPECT MULTI-YEAR CONTRACT WITH RENAISSANCE CRUISES TO GENERATE $220 MILLION OVER 3 YEARS, & EMERY AIR FREIGHT (EAF) CONTRACT FOR $26.5 MILLION.
4 MD-11 WET-LEASED TO GARUDA INDONESIA (GIA) FOR HADJ, 2- 4/00 BORNEO, JAVA TO JEDDAH (48631; 48632; 48743; 48746).
APRIL 2000: PASSENGER CHARTER CONTRACT, WITH LAMBDA WORLD, FOR NEW YORK (JFK) TO ATHENS (MD-11, 2/WEEK).
835 EMPLOYEES (INCLUDING 219 FLIGHT CREW (FC), & 291 CABIN ATTENDANTS (CA)).
MAY 2000: 1ST Q = -$4.8M (-$2.7M).
$79M CONTRACT, WITH SONAIR SERVICIO AEREO (SON), SUBSIDIARY OF ANGOLA'S NATIONAL OIL COMPANY, SONANGOL, FOR 14 MONTH, PRIVATE CHARTER AIR SERVICES BETWEEN HOUSTON AND LUANDA.
3 ORDERS (9/00) DC-10-30F.
JUNE 2000: NEW YORK (JFK) - TEL AVIV (MD-11), FOR CHARTER OPERATOR, LAMBDA WORLD.
(LOI) 3 ORDERS (10/00) DC-10-30F'S (CF6-50C2) (47888; 48277; EX-BRITISH AIRWAYS (BAB); 46541, EX-CANADIAN INTERNATIONAL (CDI), LEASED, CONVERTED TO FREIGHTER BY AERONAVALI (ARP).
JULY 2000: 2ND Q = +$600K (-$3.1M): ENDED WITH $20M CASH (+235%). PLANS TO MOVE HQ FROM DULLES, VIRGINIA, TO ATLANTA, IN 2001.
AUGUST 2000: 813 EMPLOYEES.
1999 = -$9.47M (-$10.98M 2.55B RPK (+37.6%); 66.4% LF; 16.3M FTK (-15.5%); 482K PAX (+31.7%); 835 EMPLOYEES (+4.5%).
PARENT WORLDCORP, HAS BEEN LIQUIDATED. A GROUP OF WORLD AIRWAYS (WLD) COMPANY EXECUTIVES NOW OWN 45%.
SEPTEMBER 2000: 2 ORDERS (2/01) DC-10-30F'S (46917; 46928), EX-CONTINENTAL AIRLINES (CAL), ILFC (ILF) LEASED.
$127M ($27M), (USAF) AIR MOBILITY COMMAND, AIRLIFT CONTRACT.
OCTOBER 2000: 1 DC-10-30 (CF6-50C2) (46922), EX-CONTINENTAL AIRLINES (CAL).
NOVEMBER 2000: 3RD Q = +0.04M (-$3.1M).
DECEMBER 2000: $7.4M CONTRACT EXTENSION, FOR AER LINGUS (ARL), MD-11 WET-LEASE, FOR SUMMER SEASON 2001, NEW YORK (JFK)-SHANNON, CONTINUING TO BELFAST (6/WEEK).
JANUARY 2001: SIGNS CONTRACT EXTENSIONS, WORTH $55M, FOR 2-YEAR WET-LEASE, FOR MAJOR FREIGHT FORWARDER (MD-11, 5/WEEK), FOR CARGO HUBS IN USA TO EUROPE. ALSO, AGREEMENT WITH HOMERIC TOURS, FOR NEW YORK (JFK) TO ATHENS IN SUMMER (MD-11, 409Y PAX).
2000 = +$20.6M (-$7.6M). 4TH Q = +$364K.
MD-11 (582-48632, N276WA), WET-LEASED TO GARUDA INDONESIA (GIA), FOR HADJ, UNTIL END OF 4/01.
FEBRUARY 2001: $114M, 5-YEAR AIRPLANE MAINTENANCE/ENGINE/COMPONENT CONTRACT FOR 8 MD-11'S TO DELTA AIRLINES (DAL).
$16M CONTRACT FROM GARUDA INDONESIA (GIA), FOR 3 MD-11'S, FOR HADJ PILGRIMAGE, FROM CITIES ON ISLANDS OF BORNEO, AND SUMATRA, TO JEDDAH.
APRIL 2001: 835 EMPLOYEES (INCLUDING 219 FC & 291 CA).
1 DC-10-30F (267-46998, N526MD), BOEING CAPITAL (ZMF) LEASED.
MAY 2001: 813 EMPLOYEES.
COMPLETES MOVE OF ITS HQ FROM DULLES TO PEACHTREE CITY, GEORGIA.
1ST Q = -$10.1M (-$4.2M). +$6.6M MAINTENANCE COSTS; .3B RPM (-18%); 105K PAX (+3.17%).
JUNE 2001: 1 DC-10-30 (CF6-50C2) (338-47838, N352WL), EX-JMC (JMA), (GEF) 3 YEAR LEASED.
JULY 2001: $84M, 3-YEAR, 2 DC-10-30F'S WET-LEASE, FOR PAN AIRLINES CARGO, FROM MIAMI, & LOS ANGELES (LAX), TO CITIES IN LATIN AMERICA.
DEPARTMENT OF TRANSPORTATION (DOT) OK'S SCHEDULED CARGO SERVICE TO COLOMBIA, VIA INTERMEDIATE POINTS IN WESTERN HEMISPHERE.
AUGUST 2001: 813 EMPLOYEES.
2ND Q = -$9.2M: MAINTENANCE COSTS = $16.79M (-7.1%).
SEPTEMBER 2001: 835 EMPLOYEES. SITA: IADLLWO.
MD-11 (48437) RETURNED FROM AER LINGUS (ARL).
OCTOBER 2001: 3RD Q = -$2.3M: MAINTENANCE COSTS = $14.13M (+44.1%).
DC-10-30 (48318) SOLD TO AEROSPACE FINANCE (FID).
NOVEMBER 2001: TO GROUND 3 AIRPLANES, AND REDUCE STAFF, INCLUDING FLIGHT CREW, BY 250. WILL NOT PURSUE BIDS FOR HADJ PILGIMAGE.
1 DC-10-30F (192-47928, /75 106 23 N17087), EX-LUFTHANSA CARGO (LUB), (ILF) LEASED.
JANUARY 2002: HOLLIS HARRIS, CHAIRMAN, CEO, AND PRESIDENT, FOLLOWING ANDREW (GIL) MORGAN, PRESIDENT, RETIREMENT.
4TH Q = -$4.4M. 2001 = -$26.04M (+$20.06M): MAINTENANCE COSTS = 9.78M (+205.7%).
MARCH 2002: 1-YEAR, $22.7M CONTRACT, WITH SONAIR (SON), TO PROVIDE MD-11, FOR HOUSTON - LUANDA (ANGOLA), WEEKLY CHARTERS.
APRIL 2002: 835 EMPLOYEES (INCLUDING 219 FC; & 291 CA).
SITA: IADSSWO/IADFSWO. (PH: +1 (800) 632-8000).
PARENT ORGANIZATION/SHAREHOLDERS: EMPLOYEES, OFFICERS & BOARD MEMBERS (48%); NALURI BERHAD (18%); PUBLIC INVESTORS (34%).
1ST Q = +$4.9M (-$10M) (HELPED BY SOME AIR FORCE CONTRACTS. HAS CONTRACTS WITH GOVERNMENT AND TRANSPORTATION COMPANIES, INCLUDING AIRLINES, CRUISE LINES AND FREIGHT FORWARDERS): 467.59M RPK (-2.48%); +76.34% ASK; 31% LF; 176K PAX (+69.23%); 33.6M FTK (+4530%).
MAY 2002: SIGNS 3 DEALS, WORTH $8.5M, IN 2002, WITH $3M, FOR NEW YORK (JFK) - DAKAR (SENEGAL) (DC-10-30) 5-9/02; $1.5M, FOR (JFK) - PORT OF SPAIN (MD-11, 2/WEEK); & $4M, FOR (JFK) - ATHENS (MD-11) FOR HOMERIC TOURS.
1 MD-11 (PW4000) (48756), EX-CITY BIRD (CBD), BOEING CAPITAL LEASED. 2 MD-11CF'S (48631; 48632) TO AERONAVALI (ARP) FOR CONVERSION TO FREIGHTER.
July 2002: 2nd Q = +$1.9M (-$3.3M). 6 months = 1.32B RPK (-.01%); +33.66% ASK; 42.1% LF (-14.2); 362K PAX (+27.02%); 97.64M FTK (+127.49%).
John Ellington, President & COO. Charles Addison, Executive VP Operations.
August 2002: Contract through 11/02, for Pacific Air Services Company Ltd, to operate Hong Kong - Chicago - New York (MD-11, 2/week).
October 2002: Awarded a $120M contract renewal, by (USAF) Air Mobility Command, to provide charter combi passenger & cargo international airlift services.
November 2002: 1st 9 months = +$8.8M (-$21.7M). 3rd Q = +$1.9M (-$2.3M).
1 DC-10-30 (446-48318, N117WA), Aeospace Finance leased.
January 2003: New York (JFK) - Lagos and Atlanta - Lagos, under contract for Ritetime Aviation and Travel Services through end of 2003.
February 2003: 4th Q = -$6.8M. 2002 = +$2M.
April 2003: 947 employees (including 318 FC, & 328 CA).
MD-11 (48474), Delta Airlines (DAL) leased.
May 2003: Charter flights from New York and Atlanta to Lagos for Ritetime Aviation.
$102M, 2.5-year contract to operate Dulles - Kabul, via Geneva, (MD-11, 2/week), on behalf of a USA/Swiss investor group, that is part of a consortium to rebuild Afghanistan.
June 2003: (DOT) OK's service to Iraq for Northwest Airlines (NWA), World Airways (WLD), and Kalitta Air (KAC).
August 2003: 2nd Q = +$6.4M (+$2M). 1st 6 months = +$13M (+$6.9M).
September 2003: USA Postal Service contract for 8 all-cargo flights, Newark to Bahrain (DC-10-30F) for mail to and from American service personnel serving in Iraq.
Contract with TM Travel for Honolulu - Las Vegas (MD-11), worth $7.3M in 2003, and $31M in 2004 & 2005.
$125.8M airlift contract from USA AIr Force Mpbility Command for fixed passenger flying (+68%) (+$75M).
2002 = +$2M (-$26M): 2.69B RPK (+3%); +15.9% ASK 49.5% LF (-6.2); 600K PAX (-2.3%).
2002 TOP WORLD AIRLINES TRAFFIC RPK (B):
144 (DAT) 2.97; 145 (APC) 2.87; 146 (EBA) 2.84; 147 (LDI) 2.82; 148 (SIC) 2.82; 149 (MLT) 2.75; 150 (WLD) 2.69; 151 (ALO) 2.61; 152 (MESABA) 2.59; 153 (AIR WISCONSIN) 2.57; 154 (ADH) 2.54.
November 2003: 3rd Q = +$1.4M (-23.4%) (+$1.9M). 1st 9 months = +$14.5M (+63.6%) (+$8.8M).
January 2004: 4th Q +$900K (-$5M). 2003 = +$15.57M (+$2.04M).
February 2004: Randy Martinez, President & CEO, in 5/04, when Hollis Harris retires. General Ronald Fogleman, Non-Executive Chairman. Jeff MacKinney, COO.
Plans to acquire 2 767-300ER's by 12/04, with return of 2 DC-10-30's. +2 767-300ER's for 2/05, and 2 747-400SF's to replace 2 MD-11F's and 1 DC-10-30F. MD-11 (48475), Delta Airlines (DAL) wet-leased. $19M contract with (EVA) Air for 1 MD-11F, 1 year wet-leased from 3/04.
April 2004: 1,123 employees (including 325 FC, & 500 CA).
In 5/04, 1 MD-11F wet-leased 1 year to China Airlines (CHI) for Taipei - USA (3/week).
May 2004: 1st Q = +$7.9M (+19%) (+$6.6M): 1.17B RPK (+51.86%); +59.01% ASK; 50.95% (-2.4); 227K PAX (-8.34%); 96.67M FTK (-19.28%).
2 DC-10-30F's (46541; 46988) returned to lessors. DC-10-30F wet-leased to Finnair (FIN) for Helsinki - New York all-cargo service.
July 2004: Gary Goodpaster, VP Flight Operations. Larry Montford, VP Technical Operations.
2nd Q = +$2.6M (-59.8%) (+$6.4M). Last 6 months = +$10.4M (-19.7%) (+$13M).
2 orders (4/05) MD-11F's to bring its MD-11 fleet up to 8 passenger & 5 freighter types. (WLD) also operates 5 DC-10's.
September 2004: Received approval from USA Air Force Air Mobility Command (AMC) for a $94M contract to provide fixed passenger flying in Fiscal Year (FY) 2005 starting 10/04. Worlds Airways (WLD) will also continue to support (AMC)'s requirements for additional expansion flying to supplement its fixed passenger contract. This has amounted to +$189M in revenue for (WLD) for the 1st 9 months of the Fiscal Year (FY) 2004 contract.
October 2004: $3M expansion of contract with Menlo Worldwide to provide service Dayton - Los Angeles (DC-10-30F) through end of 2004, & Dayton - Hong Kong (MD-11F) in 10 & 11/04. Will change Dayton - Brussels for Menlo from MD-11F to DC-10-30F, 5/week).
INCDT: MD-11F (N275WA) suffered structural damage following a tail strike while attempting a take-off from Anchorage. The flight was planned as a two-engine ferry to Atlanta, and it was decided that the center main landing gear would be retracted to increase takeoff performance and reduce drag. Dispatchers apparently provided settings for center main gear extended, which resulted in an excessive nose-up pitch trim. As takeoff power was applied and brakes released, the nose came up almost immediately, causing the tail strike.
November 2004: World Airways (WLD) and Menlo Worldwide Forwarding received approval from (DOT) & China's (CAAC) to operate from the Menlo hub in Dayton - Shanghai Pudong (weekly charter cargo).
3rd Q = +$7.1M (+$1.4M): boosted by an increase in revenue from its contract with US military. 9 mths = +$17.5M (+21.1%) (+$14.5M).
During 5/05-9/05, Kras Air (ZXD) will operate a 767-200ER for World Airways (WLD) between Cagliari and Moscow (DME).
1 order (12/04) MD-11 (480-48472, N801DE), Delta Airlines (DAL) leased.
January 2005: 835 employees. SITA Code: HDQLLWO.
In 3/05, 2-year, $116M, 3 MD-11F's wet-leased to EVA Air (EVA) for Taipei - USA services.
April 2005: World Air (WLD) Holdings acquires North American Airlines (NNA) for $35M. The airlines will be managed and operated independently from each other. (NNA) employs 600.
World Airways (WLD) Holdings 2004 = +$25.6M.
May 2005: MD-11F (48523, N381WA), ex-Korean Air ((KAL), GECAS (GEF) leased to be wet-leased to Air Canada (ACN).
June 2005: $101M multiyear 2 MD-11F'S (48523, N381WA), wet-lease contract for Air Canada (ACN) through 8/07 between Toronto, China and other points in North America.
October 2005: World Air Holdings (WLD) raised its revenue and operating income guidance for the third quarter on better-than-expected performance at World Airways (WLD) and recently acquired North American Airlines (NNA). The parent now is forecasting quarterly revenues in the range of $215 - $225 million compared to $195 - $205 million previously, with military revenues of $145 - $155 million versus $121 - $131 million. It expects operating income to be $22 - $24 million compared to the prior forecast of $15 - $17 million. It attributed the improvement to higher-than-expected demand from the US Air Mobility Command at both airlines as well as better performance in (NNA)'s scheduled service markets. That airline discontinued unprofitable service to Hawaii from Oakland at the end of August, freeing up two airplanes that "were fully employed by AMC during September, resulting in significantly higher unit revenues," the company stated.
Separately, World Airways (WLD) said it has been informed that it is not in compliance with reporting requirements of the Nasdaq stock market and faces a possible delisting of its stock owing to delays in filing required financial reports with the US Securities and Exchange Commission. Delays revolve around the acquisition of North American, a privately held carrier that "had not maintained the level of internal controls and procedures for financial reporting required by the rules and regulations" of the SEC. "While we continue to work through some of the issues related to transitioning North American (NNA) from a private company to part of a publicly traded entity, we're very pleased to report that the fundamentals of our business and the strategy we have undertaken remain very sound," said World Air Holdings CEO Randy Martinez. "We continue to be confident about the prospects for our company going forward."
In 2006, will convert 1 MD-11 passenger airplane to a cargo configuration.
December 2005: World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), signed a letter of intent (LOI) to lease three 747-400SFs. The converted United Airlines (UAL) passenger airplanes will be delivered in June 2008, November 2008 and May 2009 and will be leased for seven years. (WLD) President Jeff MacKinney said the company had been looking to expand its wet-lease (ACMI) cargo operation, "where we have seen solid growth and new long-term contracts with our existing MD-11 freighter fleet."
World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), signed a letter of intent (LOI) to lease for three years a 767-300ER for delivery to North American (NNA) in December 2006. It also signed a two-year extension on a leased 757-200ER, now set to expire in May 2008.
January 2006: Ginger Clark, interim CFO, replaces Gilberto Duarte Jr, who is moving to become President of its risk management subsidiary, World Risk Solutions Ltd.
World Airways (WLD) signed an $11 million, nine-month contract with an unidentified international freight forwarder to provide DC-10-30F cargo lift. The deal calls for World (WLD) to operate five international roundtrips per week.
World Airways (WLD) and its pilots (FC), represented by the International Brotherhood of Teamsters (IBT), are continuing to negotiate in advance of the January 28 conclusion of the 30-day cooling-off period imposed by the National Mediation Board. At that time, the 430 pilots may go on strike while the airline can impose a new contract. Pilots (FC) are barred from interrupting flights carried out on behalf of the USA military, World (WLD)'s largest customer, but (IBT) said it could "make no promises" to other customers.
Pilots (FC) initiated a strike against commercial World Airways (WLD) passenger and cargo flights at 2:30 am on January 28, after the National Mediation Board announced an impasse in contract negotiations.
Some of the commercial flights have been protected through sub-service with other carriers. The pilots are also continuing to operate military flights as they had stated earlier.
The pilots’ union reported that four pilots were stranded in Luanda, Angola “by World Airways (WLD) in direct violation of the current collective bargaining agreement as well as a Letter of Agreement outlining crew member safety between World Airways (WLD) and the pilots represented by the International Brotherhood of Teamsters (IBT).”
When in Luanda, World Airways (WLD) crews are protected around the clock by armed security personnel. This protection was terminated when the pilots, who were exercising their legal rights under the Railway Labor Act, were forced to vacate their hotel rooms.
The pilots were awaiting a company decision after their outbound flight, World Flight 0101, had been struck and delayed by 12 hours. According to the union, the pilots were told by a World Airways (WLD) Flight Operations manager that they were suspended and were “on their own” in reference to where they were to stay and how they were to get home.
Under the current collective bargaining agreement, the pilots should have been provided lodging, security and transportation regardless of the ongoing strike.
“Our strike committee, concerned for their security and safety, made arrangements for their transportation home,” said Captain Mark Ohlau, World Airways Pilots executive council member and negotiating committee chairman. “As of this moment, they are en route and once they are safely home we will continue our investigation and undertake whatever legal actions necessary to prevent World Airways (WLD) from endangering the lives of our employees.”
World (WLD) released details of its three-year offer. Two options were on the table, according to COO, Charlie McDonald. The first provided a +10% signing bonus and a pay raise of +3% in the first year and +4% in each of the next two years. The second offered a +7% bonus and a +5% raise in year one followed by two +3% raises. Both deals included a commitment to add 747s, furlough protection for 90% of current pilots, training pay and increased company contribution to retirement plans among other items. The airline asked for higher pilot contributions to its medical plan. "We felt so strongly about the quality of this package that we asked the negotiating committee to put the contract out to all 430 World (WLD) pilots for a vote, even without a committee recommendation, but they would not agree," McDonald said.
February 2006: World Airways (WLD), a wholly owned subsidiary of World Air Holdings, Incorporated, has resumed commercial cargo and passenger operations after reaching a tentative agreement with the International Brotherhood of Teamsters (IBT) for a three-year extension of a contract with World (WLD)’s 430 pilots (FC).
The agreement, which ended a nine-day strike by World Airways (WLD) pilots, provides for annual wage increases, continued profit sharing, a signing bonus, improved benefits, improved work rules and job security. The pilots are returning to work immediately while they conduct the contract ratification process, which is expected to take up to 30 days. World (WLD)’s military business was not interrupted by the strike.
“We were able to reach a fair and equitable agreement that met the needs of our pilots and supported the financial goals for our company,” said Charlie McDonald, World Airways Chief Operating Officer. “We look forward to obtaining ratification of the agreement and working with the entire World Airways (WLD) team to continue the growth and success of the airline.”
“We are very happy that the company finally came back to the table to actually negotiate so that we could reach this agreement,” said Captain Luis Carmona, executive council chairman of the World Airways (WLD) pilots’ union. “We look forward to putting the details of this tentative agreement out to our pilot group for approval so that we can go back to flying for the premier ACMI (provides aircraft, crew, maintenance, insurance) carrier in the industry.”
The pilots began a nine-day strike with an initial, limited spot strike on January 28 after talks broke down between the pilot’s Negotiating Committee and World Airways (WLD) management under the auspices of the National Mediation Board (NMB). “Our intention throughout these negotiations was to protect the jobs and futures of World Airways (WLD) pilots and their families. We believe this tentative agreement accomplishes that objective,” said Captain Mark Ohlau, World Airways (WLD) pilots executive council member and negotiating committee chairman.
“Throughout this process, our strength has been the resolve of our pilot group and their determination to make management understand that this contract fight wasn’t about compensation — it was about our crew members wanting long careers as World Airways (WLD) pilots,” Ohlau said.
Nearly five months after its fiscal third quarter concluded, World Air Holdings (WAH), parent of World Airways (WLD) and North American Airlines (NNA), reported it earned a +$5.5 million profit in the three months ended September 30, 2005, a -22.5% drop from the +$7.1 million earned in the corresponding 2004 period. The acquisition of (NNA) in April 2005 affected World Airways (WLD)'s business and any comparisons to the year-ago period. Although revenues climbed +68.1% to $217.2 million, expenses surged +79.3% to $206.9 million and operating income fell -25.6% to +$10.2 million. (WAH) said the expense figure included $12.5 million in additional accrual for a pending court judgment against (NNA). Fuel costs rose +139% to $42.1 million.
"We had an excellent quarter that was driven by a high level of military flying," CEO Randy Martinez said. "As a result of the strength in both our military and commercial business, coupled with the inclusion of North American (NNA), we continued to report high levels of revenue, airplane utilization and total block-hour growth."
The company also restated its second-quarter results, leaving its nine-month profit at +$20.9 million, a +19.3% increase over the same nine months in 2004.
March 2006: World Airways Holdings, parent of World Airways (WLD) and North American Airlines (NNA), notified the USA Securities and Exchange Commission that it will delay the filing of its year-end financial results. The report was due yesterday. It did not file its second- and third-quarter results until February 21 owing to delays caused by the acquisition of (NNA) in April 2005. World (WLD) said preliminary unaudited results indicate it will post a 2005 operating profit of +$59 - +$63 million, an increase of approximately +50% over the +$40.3 million earned in 2004. Operating revenues are expected to be in the $770 - $775 million range compared to $503.9 million in 2004.
World Airways (WLD) has extended the lease of 2 MD-11F's (48407; 48523) Freighters, that were due to expire in 2010, with GECAS (GEF) through April and May of 2015.
April 2006: World Airways (WLD) paid off the remaining $24 million balance of a $30 million term loan guaranteed by the Air Transportation Stabilization Board (ATSB). World (WLD) used available cash for the transaction and paid off the first $6 million last December. The loan dates from December 2003. World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), said the carriers secured a two-year credit facility for loans and letters of credit worth up to $50 million from the Wachovia Bank National Association.
World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), authorized the repurchase of up to 2 million shares of its common stock once it files its annual report, which has been delayed.
World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), announced the appointment of Michael Towe as CFO. Towe formerly was CFO of Roper Industries of Georgia.
Meantime, North American (NNA) took delivery of a 767-300ER, bringing its 767 fleet to four and its total fleet to nine. The new airplane will be used on its African service.
World Airways (WLD) signed leases for two MD-11s it had been subleasing from Delta Air Lines (DAL) until the leases were rejected by (DAL) in bankruptcy court in September. A third lease will be signed later this month. World (WLD) had been operating the airplanes on an interim agreement. Leases with the new owner are on staggered terms through March 2008.
May 2006: World Airways (WLD) provides worldwide passenger and cargo jet airplane transportation for major international airlines, the USA Air Force, international tour operators, cruise line companies, major freight forwarders, and express delivery air carriers. (WLD) also provides customised wet-lease and full service, jet airplane charter services.
1,380 employees (including 360 Flight Crew (FC); 600 Cabin Attendants (CA); 100 Maintenance Technicians (MT)).
(IATA) Code: WO - 468. (ICAO) Code: WOA - WORLD.
Parent organization/shareholders: Publicly held (80%); employees, board members & officers (19%).
Owns: North American Airlines (NNA).
Main Base: Hartsfield Jackson Atlanta International (ATL).
Hubs: New York Kennedy (JFK); & Kingston Norman Manley International (KIN).
Domestic, freight destinations: Anchorage; Chicago; & Los Angeles.
International, freight destination: Taipei.
World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), will be delisted from the Nasdaq market for failing to file necessary financial reports on time. World (WLD), which has been delisted in the past, plans an immediate appeal. It has yet to file its full-year 2005 or first-quarter 2006 earnings, saying that it is resolving issues related to its April 2005 acquisition of (NNA).
June 2006: MD-11 (48472, N801DE), wet-leased to Ethiopian Airlines (ETH).
July 2006: World Air Holdings (WAH) (WLD)/(NNA) finally reported its 2005 fourth-quarter and full-year financial results, posting net income of +$31.6 million for the year, increased +23.4% from +$25.6 million in 2004. (WAH), parent of wet-lease specialist World Airways (WLD) and charter carrier North American Airlines (NNA), missed several reporting deadlines and was de-listed by Nasdaq as a result. CEO, Randy Martinez said the company has appealed Nasdaq's decision and resolved the problems delaying its required filings with the USA Securities and Exchange Commission. It plans to file "subsequent reports on a timely basis."
Revenues in 2005 were $787.1 million, up +56%, while operating income increased +41% to +$56.6 million from +$40.3 million the previous year. For the fourth quarter, net income rose +33.3% to +$10.8 million. Operating income was +$18.4 million, more than double the year-ago period, on revenues of $237.1 million, up +83.2%. "This was an outstanding year for World Air Holdings (WAH) financially, as World Airways (WLD) continued to grow, while we integrated our newest subsidiary, North American Airlines (NNA)," Martinez said. "We achieved these record results despite incurring -$2.3 million in cash cost resulting from a litigation settlement and -$7.3 million of fees associated with our North American (NNA) acquisition and our Sarbanes-Oxley compliance efforts."
(WAH) issued updated guidance for the 2006 first quarter ended March 31, saying that revenues "are expected to be in the range of $214 million to $216 million," slightly below previous expectations, and operating income will be +$7 to +$9 million, slightly above previous guidance. Martinez said first-quarter operating income "would have doubled" were it not for "significant professional fees" and a nine-day pilots (FC)'s strike and subsequent signing bonus given to pilots as part of a new labor contract.
August 2006: World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), reported first-quarter net income of $3.5 million, a drop from net income of $9.9 million in the first quarter of 2005. The company, which finally reported its full-year 2005 earnings last month, continues to play catch-up with its financial reporting. Delays in filing required financial reports led to its de-listing by Nasdaq. First-quarter operating income fell -45.3% to +$9.4 million, "primarily due" to a pilots (FC) strike during the quarter, that cost it an estimated $7 - $8 million. Operating revenues grew +35.6% to $216.3 million.
Regarding the second quarter ended June 30, World (WLD) said revenues are expected to be $175 - $178 million with an operating loss of -$12 to -$15 million. CEO, Randy Martinez said second-quarter results were affected by higher maintenance costs and penalties imposed on World Airways (WLD) by the US Air Mobility Command (AMC) for failing to meet required ontime performance levels. He added that World (WLD) was removed from (AMC) "penalty status" on June 20.
MD-11 (48472, N801DE), Ethiopian Airways (ETH) operation ended.
September 2006: World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), posted a second-quarter net loss of -$7.5 million, down from -$5.5 million in net income in the year-ago quarter.
Consolidated revenues rose +2.8% to $176.7 million but World Airways (WLD) revenues declined by -$24.7 million, primarily owing to a -$29.8 million decrease in military revenues, the company said. World Airways (WLD)'s commercial revenues increased by +$5.1 million. Revenue for (NNA) was not released. Parent company operating loss for the three months ended June 30 was -$12.9 million, a reversal of a +$10.8 million operating profit in the year-ago quarter.
"We are now in position to return to filing timely financial results," CEO, Randy Martinez insisted. "We also are entering a busy second half, and have already experienced an increase in activity since the end of the second quarter." World Air Holdings expects revenues for the third quarter to be $230 - $235 million, producing an operating income of $8 - $10 million.
With the disclosure of its second-quarter results World (WLD) finally became current in its financial reporting after several delays led to its de-listing by Nasdaq. The company plans to apply "shortly" to be re-listed on Nasdaq or an alternative exchange.
Parent company World Air (WLD) Holdings announced it has launched its previously announced tender offer to purchase up to 2.2 million shares of its common stock at $9 - $9.50 per share. The offer expires October 6.
World Airways (WLD) will operate two MD-11F freighters for Lufthansa Cargo (LUB) between the USA and Europe for one year beginning at the end of next month. World (WLD) currently operates 17 MD-11s and DC-10s.
October 2006: Read article above ((WLD)-OCT06) by Steve Forsyth, Director Corporate Communications in "Airline Business" magazine.
November 2006: World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), announced a delay in the filing of its third-quarter financial results, but said it expects an operating income of +$6 - +$8 million on revenues of $230 - $235 million. It cited higher-than-anticipated Maintenance, Repair & Overhaul (MRO) expenses for the decline in operating result. Year-ago figures were unavailable. World (WLD) is forecasting a full-year operating profit of +$7 - +$9 million on revenues of $839 - $844 million. It posted 2005 revenues of $787.1 million and an operating income of +$56.6 million.
MD-11ERF (48756, N279WA), new livery - see photo. World Airways (WLD)has extended leases of 3 passenger MD-11s and 3 cargo MD-11Fs with (ILFC) (ILF) that were due to expire in 2007 and 2008. The airplanes now have leases set to expire between March 2013 and May 2014.
January 2007: World Air Holdings, parent of World Airways (WLD) and North American Airlines (NNA), posted a +$5.9 million net profit in the third quarter ended September 30, up +8.5% from the +$5.5 million earned in the year-ago period. Its operating income of +$8.2 million was a -20.2% decline from the year-ago quarter's, but higher than the +$6 to $8 million forecast in November, when it announced the delay in its third-quarter report. Revenues rose +6.4% to $231 million and expenses climbed +7.7% to $222.9 million. World (WLD) forecast a -$4 to $6 million operating loss in the fourth quarter, and a +10% year-over-year increase in 2007 revenues to $900 million and an operating margin of 4% to 7%.
April 2007: Airline consolidation in the USA began on a smaller scale than the failed mega-merger between US Airways (AMW)/(USA) and Delta Air Lines (DAL), plus AirTran Airways (CQT)'s contentious pursuit of Midwest Air Group (MWX), as ATA Airlines (AAT) parent ATA Holdings bought out World Air Holdings (WAH), parent of World Airways (WLD) and North American Airlines (NNA), for $315 million in cash or $12.50 per share. The deal, expected to be completed in the third quarter, is subject to the approval of World (WLD)/(NNA) stockholders and USA authorities. It will bring together two companies that rely heavily on their charter businesses, operate similar fleets and maintain bases in Oakland. Meanwhile, ATA Holdings is changing its name to Global Aero Logistics (GAL), which it said "better reflects our company's diverse, worldwide operations." The three airlines will remain independent. (GAL) President & CEO, Subodh Karnik said the acquisition "provides the strength and corporate flexibility for each of these airlines to shape a high-growth future." (WAH) Chairman, Ronald Fogleman said the sale "is in the best interests of our shareholders," who will receive a 56% premium on the average closing price for the 30 trading days prior to (WAH)'s September formation of a committee "to explore strategic alternatives." ATA (AAT) operates commercial and military charters in addition to a limited scheduled service network focused on Oakland, Chicago Midway and Hawaii, that is buttressed heavily by a codeshare arrangement with Southwest Airlines (SWA). Its fleet of 29 airplanes comprises 12 737-800s, three 737-300s, six 757-200s, four 757-300s used for scheduled service and charters, plus a charter fleet of four L-1011s. It has four DC-10-30s that currently are in storage. It purchased seven DC-10-30s from Northwest Airlines (NWA) in December. World Airways (WLD) (MD-11s and DC-10-30s) and (NNA) (757-200ERs and 767-300ERs) operate a combined 17 airplanes. (NNA) flies limited long-haul scheduled flights from New York (JFK) and Baltimore/Washington International. World Airways (WLD)'s largest customer is the USA military.
May 2007: World Airways (WLD) will operate three MD-11F freighters on New York (JFK) - Europe routes for Lufthansa Cargo (LUB) over an 18-month period from July 1, under terms of an expanded contract between the carriers. World (WLD) currently operates two MD-11Fs for (LUB) as part of a contract set to expire in October. The new accord supersedes that pact.
World Airways (WLD) signed a one-year, $22.5 million deal to continue operating Toronto - Frankfurt MD-11F freighter flights for Air Canada (ACN), extending an agreement set to expire July 1.
July 2007: World Air Holdings (WAH), parent of World Airways (WLD) and North American Airlines (NNA), reported a net loss of -$2.3 million for 2006, down from net income of +$31.6 million the prior year, on a +4.9% rise in revenue to $825.7 million.
(WAH) blamed the result on a 17% reduction in USA military revenue and a +21% increase in maintenance costs at World (WLD), as well as a fine imposed by the USA military in the second quarter for "not achieving minimum performance standards." The company has reached an agreement to be acquired by ATA Airlines (AAT) parent, Global Aero Logistics for $315 million in cash in a deal expected to close in the third quarter.
Full-year expenses increased +13.1% to $826.4 million and operating loss was -$780 million, a significant reversal from income of +$56.6 million in the prior year. Fourth-quarter net loss was -$3.8 million, reversed from net income of +$10.8 million in the year-ago quarter, on a -15.6% drop in revenue to $201.3 million.
World Air Holdings (WAH), parent of World Airways (WLD) and North American Airlines (NNA), said it expects its first-quarter revenue to be in the range of $220 to $225 million, +2% to +4% higher than the year-ago quarter, and +10% to +12% higher than 2006 fourth-quarter revenue of $201.3 million. "Increased scheduled service revenue at North American (NNA) due to maturing African routes, contributed to the improvement versus first quarter 2006," (WAH) said, adding that World (WLD)'s military revenue also rebounded following last year's falloff.
The company has reached an agreement to be acquired by ATA Airlines (AAT) parent, Global Aero Logistics for $315 million in cash in a deal expected to close in the third quarter. (WAH) said that two independent proxy advisory services, Institutional Shareholder Services and Glass Lewis & Co, recommended that shareholders vote to approve the merger at a July 18 meeting.
August 2007: World Airways (WLD) and North American Airlines (NNA) parent World Air Holdings (WAH), reported earnings results for the first quarter revealing net income of +$518,000 for the three months ended March 31, a -85.4% drop from net income of +$3.5 million in the 2006 first quarter. World (WLD) said reporting was in accordance with its legal requirements under the terms of its merger agreement with ATA Airlines (AAT) parent Global Aero Logistics (GAL). (WAH) shareholders last month approved the company's takeover by (GAL) in a deal expected to close by the end of the current quarter. First-quarter revenue increased +3.1% to $222.9 million as expenses fell -7.4% to $222 million, producing operating income of +$830,000, a -91.2% decline from +$9.4 million in the prior-year period.
Later, ATA Airlines (AAT) parent Global Aero Logistics (GAL) completed its acquisition of World Air Holdings (WAH), parent of World Airways (WLD) and North American Airlines (NNA). (GAL) paid $12.50 per share in cash, valuing (WAH) at $315 million. The new entity will have a combined workforce of more than >4,500 and a fleet of 56 airplanes. Combined 2006 revenue was $1.6 billion. (WAH) stock no longer will trade.
Finnair (FIN) Technical Services announced an agreement with World Airways (WLD) covering airframe maintenance on two of World (WLD)'s three DC-10-30s.
October 2007: Goodrich (BFG) was selected by World Airways (WLD) to refurbish thrust reversers on World (WLD)'s MD-11s, as well as offer rotable support under a three-year contract.
747-4H6 (25700), Malaysia Airlines (MAS) parent, Penerbangan Malaysia Berhad sold to World Airways (WLD), to be converted to freighter.
December 2007: World Airways(WLD) is accepting Flight Crew (FC) resumes. The carrier is interviewing for its next class in January. World Airways (WLD) does not accept phone calls, emails or faxes.
World Airways (WLD) signed long-term leases with Aircastle for two 747-400F freighters to be delivered in March and October 2008. World (WLD)'s freighter fleet currently consists of six MD-11Fs and two DC-10-30Fs.
January 2008: 2007 Performance Statistics: 4.28 billion (RPK)s traffic (-.94%); +6.87% (ASK)s; -4.3 load factor 54.2% LF; 1.15 billion (FTK)s (+6.1%) freight traffic; 859,000 passengers (+6.31%). SEE ATTACHED - - "WLD-2007-STATS."
Airbus (EDS) said MatlinPatterson Global Advisers placed an order for six A330-200F freighters for placement with companies in its portfolio such as Varig Logistica (VLO) and Global Aero Logistics (holding company of ATA Airlines (AAT), World Airways (WLD), and North American Airlines (NNA)). Airbus (EDS) now has sold 72 A330-200Fs to eight customers.
MD-11 (48472, N801DE), returned to (UPS).
February 2008: For an excellent description of how World Airways (WLD) now comes under parent, Global Aero Logistics (GAL) - SEE ATTACHED ARTICLE FROM http://www.airwaysmag.com - WLD-GLOBAL AERO LOGISTICS (GAL)-A/B/C/D/E/F/G/H.
3 DC-10-30s (47844, N136WA; 47845, N138WA; 48282, N137WA), transferred from ATA Airlines (AAT). MD-11 (48475), returned to (UPS).
March 2008: Global Aero Logistics, parent of ATA Airlines (AAT), North American Airlines (NNA), and World Airways (WLD), named Chairman John Denison as interim President & CEO, following the resignation of Subodh Karnik. A search for a permanent replacement is underway.
April 2008: ATA Airlines (AAT) canceled all flights after filing for bankruptcy as it posted advisories at ticket counters in the handful of cities it still served and sought help for stranded travelers. The Indianapolis-based airline, once the nation's 10th-largest, entered bankruptcy for the second time in just over three years, this time citing the loss of a key military charter business. The airline had approximately 50 flights per day, mostly between Hawaii and four west coast cities: Oakland, Los Angeles, Phoenix, and Las Vegas, said company spokesman Michael Freitag. ATA (AAT) said it has been in contact with other airlines that may be able to assist with travelers holding tickets, that the airline can no longer honor.
On its Web site, the airline apologized for the disruption and suggested that customers seek alternative travel arrangements.
The company had over 2,200 employees, Freitag said. "Virtually all of ATA (AAT)'s employees are being notified that their positions are eliminated," Freitag said.
The carrier retrenched in 2006 after emerging from bankruptcy, focusing on destinations in the Southwest and an increase in military charter business. But like other airlines, it has struggled in a foundering economy and has been unable to offset soaring fuel prices.
Fuel is one of the industry's top costs and has pushed some carriers into merger talks. Major airlines, to offset record fuel prices, have slashed amenities that were once free and added fees for second bags, traveling with pets and booking tickets by phone. United Airlines (UAL) said new luggage fees it has imposed on travelers will generate more than >$100 million annually.
ATA (AAT) came out of bankruptcy with several other carriers two years ago, and it became the second to declare bankruptcy in just the past two weeks, both with operations in Hawaii. Aloha Airlines (ALO) filed for Chapter 11 bankruptcy protection last month, a little more than two years after emerging from bankruptcy. A third, Bloomington, Minnesota-based charter carrier, Champion Air (GRD), announced that it will stop flying on May 31.
ATA (AAT) announced last month that it would leave Chicago's Midway Airport, which it had used as a hub since 1992.
The CEO at ATA (AAT)'s parent company resigned two weeks ago. Subodh Karnik, who had been CEO at ATA (AAT), stepped down after heavy pressure from a major investment firm to turn the airline around.
"We deeply regret the disruption and hardship caused by the sudden shutdown of ATA (AAT), an outcome we and our employees had worked very hard and made many sacrifices to avoid," COO, Doug Yakola said. "Unfortunately, the cancellation of a critical agreement for our military charter business undermined ATA (AAT)'s plan to address the current conditions facing all scheduled service airlines, including the tremendous spike in the price of jet fuel in recent months. As a result, it became impossible for ATA (AAT) to continue operating."
The airline had a nearly two-decade working arrangement with FedEx (FED) that offered a share of airlift contracted by the Dept of Defense Air Mobility Command (AMC) to provide transport of military personnel and their families. ATA (AAT) claimed it was notified that its arrangement with FedEx (FED) would be terminated in a decision it described as "abrupt and unexpected." A FedEx (FED) spokesperson said that ATA (AAT) was notified in January, that it "would not be included in the contract or team arrangement for the Air Mobility Command" after the current contract expires in September. "We have no contractual obligation beyond that point," the spokesperson said. It was unclear whether ATA (AAT) would continue to provide any (AMC) service through the end of the contract.
Southwest Airlines (SWA), which had operated a limited codeshare with ATA (AAT) since 2005, said it would accommodate all passengers who purchased tickets from (SWA), but were scheduled to fly ATA (AAT). Under the partnership, both airlines were able to exchange passengers and their checked baggage at Chicago Midway, Las Vegas, and Phoenix.
"ATA Airlines (AAT) has been an outstanding partner for Southwest (SWA), and we are disappointed to hear this unfortunate news," (SWA) CEO, Gary Kelly said. "We are sad to end our codeshare relationship with ATA (AAT), but understand it's extremely difficult for an airline to flourish in today's arduous financial environment." Last year, ATA (AAT) became a wholly owned subsidiary of Global Aero Logistics, which also owns World Airways (WLD) Holdings and North American Airlines (NNA).
North American Airlines (NNA) and World Airways (WLD) parent, Global Aero Logistics named Executive VP & Chief Commercial & Planning Officer, Robert Binns as CEO, and Executive VP & Chief Airline Officer, Charles McDonald as President. Chairman, John Denison had been filling both roles on an interim basis. VP Market Planning for Global, Jeff Sanborn was promoted to Chief Marketing Officer.
May 2008: Lufthansa Cargo (LUB) and World Airways (WLD) have extended their contract for 15 months beginning July 1, 2008 for three (WLD) MD-11F freighters to operate between Europe and the United States for Lufthansa Cargo (LUB). (WLD) has been operating continuously for (LUB) since 2006. “World Airways (WLD) has performed very reliably for Lufthansa Cargo (LUB) between New York, Chicago, Los Angeles and Europe, and we are pleased that they have demonstrated their confidence in us by renewing our current contract,” said Jeff Sanborn, Chief Marketing Officer of World Airways (WLD). “Lufthansa Cargo (LUB) is a leading international carrier with an impeccable reputation, and World Airways (WLD) is proud to be one of Lufthansa Cargo (LUB)´s partners in providing excellent service for their customers.” Bernhard Kindelbacher, Senior VP Network & Product Management of Lufthansa Cargo (LUB), added: “We very much appreciate the support of World Airways (WLD) – as they are a very professional and reliable partner for our worldwide network.”
Lufthansa Cargo (LUB) operates 19 MD-11F freighters and utilizes three additional MD-11F freighters from World Airways (WLD).
With a transport volume of about 1.81 million tonnes of freight and mail shipments and 8.45 billion revenue tonne kilometres (FTKT) in 2007, Lufthansa Cargo (LUB) is one of the world’s leading cargo carriers. Its route network encompasses over >360 destinations. Lufthansa Cargo (LUB) serves some of these direct with its own fleet of freighter airplanes, as well as with belly capacities of Lufthansa (DLH)'s passenger airplanes and road feeder services. Most of the cargo business is handled via Frankfurt Airport (FRA), Europe's largest freight hub.
World Airways (WLD) is accepting Flight Crew (FC) resumes and is interviewing. The carrier expects to hire 30 pilots (FC) and Professional Flight Engineers (PFE)s in the next several months.
SEE ATTACHED ABOVE - - "WLD-NEWS-MAY08."
September 2008: World Airways (WLD) is only hiring pilots (FC) who are already in their pilot (FC) pool or who are current and qualified on the MD-11. The carrier is not accepting Flight Crew (FC) resumes.
November 2008: 2.19 billion (RPK)s traffic (+8.69%); -15.53% (ASK)s capacity; 68.1% LF (+15.2); 565.51 million (FTK)s freight traffic (-2.87%); 444,000 passengers (+11.84%).
747-4H6F (25702, N741WA) re-delivered after freighter conversion.
December 2008: 2 MD-11Fs (48411, N382WA; 48412, N383WA), ex-Gemini Air Cargo (GMN), (GECAS) (GEF) leased.
February 2009: Global Aero Logistics, parent of North American Airlines (NNA) and World Airways (WLD), changed its name to "Global Aviation Holdings." "We are focused on growing our commercial cargo and passenger business, and the new name and identity will better represent the leading role we play in the charter aviation transport industry," CEO, Rob Binns said. (NNA) operates passenger charters aboard 757-200ER and 767-300ER airplanes while (WLD) flies both passenger and cargo charters aboard 747-400s, DC10-30s and MD-11s.
April 2009: Delta (DAL) TechOps finalized new five-year contracts worth more than >$200 million with Global Aviation Holdings subsidiaries, World Airways (WLD) and North American Airlines (NNA). Under the contracts, which are extensions to previous deals, it will perform component repair, inventory exchange programs and drop-in "A" and "C" maintenance check support. It also will provide time and material engine maintenance for (WLD)'s (PW4000)s and (CF6-80C2)s and be the exclusive provider of 331-200 Auxiliary Power Unit (APU) repairs for (NNA).
July 2009: World Airways (WLD) extended its contract with Allied Air (AJK) to operate an MD-11F freighter on a full time basis through December 2011 on an Ostend - Lagos - Nairobi - Ostend routing. It has been operating the MD-11F on the route for Allied since October 2008.
MD-11ER (48449, N270WA), Babcock (BBB) leased, ex-(OH-LGA), ex-Finnair (FIN).
August 2009: World Airways (WLD) added a sixth MD-11 passenger airplane, citing a "high demand for military charters."
October 2009: Global Aviation Holdings, parent of North American Airlines (NNA) and World Airways (WLD), named Polar Air Cargo (PAO) VP Sales & Marketing for Europe, Middle East, Africa & India, Hendrik Falk as VP Cargo Sales.
December 2009: 2 DC-10-30Fs (46917, N303WL; 47928, N304WL) returned to (PICL) Aviation.
May 2010: World Airways (WLD) signed an agreement with Cargolux (CLX) to operate a 747-400F freighter on a full time basis for air cargo service October to June.
June 2010: Global Aviation Holdings, parent of North American Airlines (NNA) and World Airways (WLD), filed a registration statement with the USA Securities & Exchange Commission for a proposed initial public offering (IPO) of shares of its common stock. The company said that the number of shares to be offered and the price range for the offering have not been determined. According to data filed with the USA Department of Transportation, World Airways (WLD) had a net loss of -$37.8 million last year, deepened from a loss of -$35.6 million in 2008, on a -17.3% decline in revenue to $658 million. Operating loss was -$36.3 million versus -$10.71 million in 2008. (NNA) earned +$17.5 million in 2009, reversing a loss of -$6.1 million the year before despite a -17.7% fall in revenue to $384.8 million. Operating profit was +$47.7 million, up from +$34 million in 2008.
SEE ATTACHED - - "WLD-2010-06-A/B/C/D/E/F."
August 2010: Global Aviation Holdings elected former Lufthansa Cargo (LUB) Chairman of the Executive Board, Jean-Peter Jansen to its board of directors. Global Aviation is the parent of North American Airlines (NNA) and World Airways (WLD).
October 2010: World Airways (WLD) received USA (FAA) authorization to operate Polar routings, allowing the carrier to eliminate intermediate stops for several routes, reduce flight times and save fuel.
December 2011: MD-11 (48450, N269WA), ex-(OH-LGB), Babhcock (BBB) leased.
January 2011: 747-412F (26562, N743WA), ex-(N265MS), delivery.
February 2011: World Airways (WLD) is not currently hiring or accepting application or resumes for flight crew (FC).
April 2011: World Airways (WLD) will operate one 747-400F for Emirates SkyCargo (EMC) on twice-weekly, Dubai - Frankfurt - Sao Paulo service and weekly, Dubai - Frankfurt service beginning this month.
June 2011: World Airways (WLD) and Finnair (FIN) Cargo signed an agreement to operate twice-weekly, (FIN) MD-11F Helsinki - Shanghai - New York cargo service beginning June 15 using (WLD)'s traffic rights.
September 2011: World Airways (WLD) will operate one 747-400F beginning this month on behalf of Asiana Airlines (AAR) connecting Seoul Incheon with West Coast markets in the USA.
January 2012: World Airways (WLD) may possibly hire 10 to 12 Flight Crew (FC) pilots in early 2012. Applicants can apply online. See FltOps.com and FAPA.aero.
February 2012: Global Aviation Holdings, the parent of wet-lease (ACMI) and charter carriers World Airways (WLD) and North American Airlines (NNA), "commenced a financial restructuring through the voluntary filing of petitions to reorganize under Chapter 11 of the USA Bankruptcy Code." Global is owned by private investment firm Matlinpatterson.
(WLD), which operates MD-11 and 747-400F freighters and MD-11 passenger airplanes, has struggled financially over the last several years, and the filing does not come as a surprise. As Global Aviation Holdings said in its announcement, its fleet is too large, its labor costs are too high, and its capital structure is out of alignment with the size of the company (which we take to mean that it is burdened by debt). Global also said that while it had "worked closely with its lessors, bondholders and other creditors and constituents over the past year, which led to the reduction of certain obligations," it nonetheless felt restructuring through Chapter 11 was required.
In its petition, Global said it would continue normal flight operations, continue to pay wages and benefits, and pay vendors and suppliers for post-petition obligations. However, vendor and supplier invoices incurred prior to the filing "will be resolved through the Company's Plan of Reorganization, which requires Court approval and has yet to be submitted." Exactly what will be included in the reorganization plan is not yet known, but given the language of the announcement, it seems clear we can expect fleet reductions, wage reductions (and/or layoffs), and a request for debt relief.
Regarding the fleet, (WLD) operates nine MD-11Fs, four 747-400BDSFs, and seven MD-11s in passenger configuration. Of these, the company owns three of the MD-11Fs, while the remaining seventeen airplanes are leased from a variety of lessors. Parent company, MatlinPatterson has six A330-200Fs on firm order. Given that fleet reduction will almost certainly be part of the restructuring, it is not clear what the fate of this order will be.
North American (NNA) operates three 757-200s and five 767-300s, all in passenger configuration.
April 2012: Lufthansa Technik (DLH) (LTK) has extended a Total Component Maintenance (TCM) contract with Global Aviation Holdings, covering airplanes for both its subsidiaries; World Airways (WLD) (up to nine MD-11s) and North American Airlines (NNA) (five 767-300ERs).
September 2013: FAPA . . . Future & Active Pilot Advisors.
See FAPA.aero: Pilot (FC) Career Conferences & Job Fairs
Note: The next Pilot Job Fair will be held in Chicago next month.
According to FAPA.aero, World Airways (WLD) currently has 200 flight crew (FC) on furlough. None are expected to be recalled this summer.
March 2014: World Airways ((IATA) Code: WO, based at Atlanta Hartsfield Jackson) (WLD) has ceased operations with immediate effect (CEO) John Graber has announced. Graber said (WLD) operated its last flight on Wednesday, March 26.
World Airways (WLD), along with other Global Aviation Holdings subsidiaries, have been on the market seeking funding to help restructure in chapter 11 bankruptcy, but have been unable to secure that financing. As a result, on March 25, (WLD)'s first lien holder declared World in default on its loan and stopped providing the airline with funding.
(WLD) has started the process of winding down its operations with 325 employees, including 109 pilots (FC) and 146 flight attendants (CA), having been laid off.
World (WLD) had catered primarily to the USA military, using a fleet of two MD-11s, one 747-400F and an MD-11F.
Sister carrier, North American Airlines ((IATA) Code: NA, based at New York (JFK)) (NNA) will however, continue operations with plans to emerge from bankruptcy in the near future. Founded in 1989, (NNA) operates passenger charter flights using 767-300ERs.
November 2017: The USA-based investment firm, 777 Partners, just announced it acquired the intellectual property of World Airways Inc (WLD). “(WLD) has a rich and storied history dating back to 1947. It was once the world’s largest independent charter airline, and served the USA military and other clients with great distinction for many years,” said Ed Wegel, Founding (CEO) of World Airways (WLD).
(WLD) ceased operations in March 2014, almost 66 years after the day it began on March 29, 1948. The initially Atlanta-based carrier was unable to keep cash flowing to sustain service.
777 Partners will base the new World Airways (WLD) at Miami International Airport (MIA) with (MIA) and (LAX) as initial operating hubs. Likewise, negotiations are underway with Boeing (TBC) for 10 787 Dreamliners for World Airways (WLD) future operations throughout the USA and Latin America.
“We are determined to pay proper homage to World (WLD)’s rich heritage by delivering a transformative flying experience rooted in safety, technology, and service to the large segment of the traveling public historically priced out of international travel,” said Managing Partner of 777 Partners, Josh Wander.
The announcement of the “new brand look and feel” of (WLD) will be made in “the next few weeks.” According to Wegel, the launching event will be under the direction of their Founding (CMO), Freddie Laker.
Also, Wegel stated they are searching for partner airlines: “We will be partnering with low cost, short haul carriers in the USA and in the regions we serve to provide connecting traffic to and from our initial planned gateways.”
Click below for photos:
WLD-747-400F - 2012-02
WLD-747-400F N741WA 2018-04.jpg
2 747-4H6F (974-25700, N740WA, 2007-10, REDELIVERED, F CONVERTED 2008-03; 999-25702, N741WA, RE-DELIVERED 2008-11 AFTER FREIGHTER CONVERSION), BOUGHT FROM (MAS). FREIGHTER.
1 747-412F (26562, N743WA), EX-(N265MS), 2011-01. FREIGHTER.
3 ORDERS 747-422SF, EX-(UAL) PAX, CONVERTED TO FREIGHTER. FREIGHTER.
1 +3 ORDERS 767-300ER.
10 ORDERS 787:
1 DC-10-30CF (CF6-50C1) (280-46836, /79 N107WA), WET-LEASED TO (TAC). FREIGHTER.
0 DC-10-30F (CF6-50C2) (211-46917, /75 N303WL; 192-46928, /75 N304WL), EX-(CAL), (ILF) LEASED, CONVERTED TO FREIGHTER BY AERONAVALI (ARP). 46917; 46928; RETURNED TO (PICL) AVIATION 2009-12. FREIGHTER.
0 DC-10-30 (CF6-50C2) (221-46922, /76 N14075), EX-(CAL) 2000-10. RETURNED 2003-09. 356Y.
0 DC-10-30F (CF6-50C2) (267-46998, /79 N526MD), (ZMF) LEASED. RETURNED 2004-05. FREIGHTER.
0 DC-10-30 (CF6-50C2) (338-47838, /80 N352WL), EX-(JMA), (GEF) 3 YEAR LEASED 2001-06. RETURNED. 356Y.
3 DC-10-30 (CF6-50C2) (336-47844, /80 N136WA; 356-47845, /81 N138WA - SEE ATTACHED PHOTO - "WLD-NEWS-2008-05."; 355-48282, /81 N137WA), TRANSFERRED FROM (AAT) 2008-02. 26C, 247Y.
2 DC-10-30F (CF6-50C2) (47888; 48277; EX-(BAB); 46541, EX-(CDI), LEASED, CONVERTED TO FREIGHTER BY AERONAVALI. 46541 RETURNED (GRB) 2004-05, LEASED TO (DAC). FREIGHTER.
0 DC-10-30 (CF6-50C2) (446-48318, /89 N353WL, EX-(NIA), 1 LEASED TO (MAS) 1997-08. 48318 SOLD TO 2001-11 (FED). 48318 LEASED (AGAIN) 2002-11. 48318 RETURNED TO AEROSPACE FINANCE 2004-11. 322Y.
1 MD-11ERF (PW4462) (456-48407, /91 N380WA), (GEF) LEASED. RETURNED TO SERVICE 2010-07 AFTER STORAGE AT MARANA. FREIGHTER.
2 MD-11F (CF6-80C2D1F) (453-48411, /90 N382WA "PENNY;" 454-48412, /90 N383WA "TRACY"), EX-(VSP), CONVERTED TO FREIGHTER BY (TBC)/(IAI), EX-(GMN),(GEF) LEASED 2008-12. FREIGHTER.
3 MD-11 (PW4462) (506-48437, /93 N272WA; 525-48518, /93 N271WA; 539-48519, /93 N273WA), (ILF) LEASED. WET-LEASED TO (MON). 48437 RETURNED FROM (ARL) 2001-09. 34C, 302Y; OR 360Y,
1 MD-11ER (CF6-80C2D1F) (455-48449, /90 N270WA), EX-(FIN), (BBB) LEASED 2009-07, EX-(OH-LGA). 42C, 245Y.
1 MD-11 (48450, N269WA), EX-(FIN), EX-(OH-LGB), (BBB) LEASED 2010-12.
1 MD-11 (PW4460) (480-48472, /92 N801DE; 485-48474, /91 N803DE, 2004-04; 489-48475, /92 N804DE, 2004-04), EX-(DAL), (UPS) WET-LEASED. 48472; WET-LEASED TO (ETH) 2006-06, RETURNED FROM (ETH) 2006-08. 48472; RETURNED (UPS) 2008-01. 48475; RETURNED (UPS) 2008-02. 291Y; OR 24C, 199Y.
1 MD-11F (PW4460) (516-48523, N381WA), EX-(KAL), (GEF) LEASED, WET-LEASED TO (ACN) 2005-06. FREIGHTER.
2 MD-11CF (PW4462) (579-48631, /95 N275WA; 582-48632, /95 N276WA), (ILF) LEASED. 2 LEASED TO (GIA) UNTIL 2000-04, 48632 WET-LEASED TO (GIA) UNTIL 2001-04. TO (ARP) FOR CONVERSION TO FREIGHTYER 2002-05. FREIGHTER.
1 MD-11CF (PW4462) (563-48633, /94 N274WA), (ILF) LEASED, WET-LEASED TO (EAF) 1998-10. FREIGHTER.
2 +6 ORDERS MD-11ER (PW4462) (590-48743, /96 N277WA; 597-48746, /96, N278WA), WET-LEASED TO (GIA) UNTIL 2000-04; 90C, 140Y; OR 360Y.
1 MD-11ERF (PW4462) (623-48756, /98 N279WA - SEE PHOTO), EX-(CBD), (TBC) LEASED 2002-05. CONVERTED 2006-10. FREIGHTER.
6 ORDERS A330-200F:
Click below for photos:
WLD-JENNY POOLE - VP INFLT
JOSH WANDER, MANAGING PARTNER, 777 PARTNERS (2017-11).
The USA-based investment firm, 777 Partners, announced in November 2017 it acquired the intellectual property of World Airways Inc (WLD). “(WLD) has a rich and storied history dating back to 1947. It was once the world’s largest independent charter airline, and served the USA military and other clients with great distinction for many years,” said Ed Wegel, Founding (CEO) of World Airways (WLD).
(WLD) ceased operations in March 2014, almost 66 years after the day it began on March 29, 1948. The initially Atlanta-based carrier was unable to keep cash flowing to sustain service.
777 Partners is basing the new World Airways (WLD) at Miami International Airport (MIA) with (MIA) and (LAX) as initial operating hubs. Likewise, negotiations are underway with Boeing (TBC) for 10 787 Dreamliners for World Airways (WLD) future operations throughout the USA and Latin America.
“We are determined to pay proper homage to World (WLD)’s rich heritage by delivering a transformative flying experience rooted in safety, technology, and service to the large segment of the traveling public historically priced out of international travel,” said Josh Wander, Managing Partner of 777 Partners.
JOHN DENISON, CHAIRMAN, PARENT, GLOBAL AVIATION HOLDINGS, EX-(AAT)/(SWA) (2008-03).
John Denison, Chairman, of New ATA (AAT) Holdings Inc (to later become Global Aero Logistics), joined the Company as Co-Chief Restructuring Officer in January of 2005. He was appointed President & (CEO) of (ATA) Airlines on February 22, 2005 and assumed the title of Chairman in January of 2006. An accomplished aviation executive with >15 years of senior management experience, Denison's expertise lied in his ability to inspire a spirit of inexhaustible teamwork among employees and provide leading consult to companies seeking to overcome challenging financial environments.
Denison joined (AAT) after a 3-year period of retirement from Southwest Airlines (SWA), where his responsibilities included serving as Executive VP Corporate Services & Chief Financial Officer (CFO). While at (SWA), he distinguished himself with a people-focused management style and forthright approach to airline administration.
Prior to joining (SWA) in 1986, Denison served for 6 years in various corporate finance roles at the (LTV) Corporation also in Dallas, Texas. Among other responsibilities, he assisted in the financial restructuring of the conglomerate that held interests in aerospace defense, steel and energy.
Denison's leadership in restructuring efforts for struggling companies dates back to the 1970s. He spent his early career in the Detroit area with >10 years at the Chrysler Corporation. As Manager of Corporate Finance, Denison played a role in the restructuring of the automaker and was part of a team for obtaining the government assistance that ultimately saved the company.
A native of Highland Park, Michigan, Denison suggested that his upbringing by parents who survived the Great Depression at least partly explains the value he places on hard work and frugality, as well as the value he place on each individual's contribution to the well-being of the team. A graduate of Troy High School in Troy, Michigan, he earned a bachelor of arts in economics at Oakland University in Rochester, Michigan. Denison continued his graduate education at Wayne State University, where he earned a master of business administration in finance.
Denison served on the executive committee of the board of directors for the (ARC) of Dallas, a non-profit organization working to improve the quality of life for people with mental retardation and other developmental disabilities. An avid golfer, he and his wife Kathy raised their 3 grown children in Dallas, Texas, where they still called home. The Denisons have 3 grandchildren, including twins born in 2005.
GENERAL RONALD FOGLEMAN, NON-EXECUTIVE CHAIRMAN (2004-05).
ED WEGEL, FOUNDING CHIEF EXECUTIVE OFFICER (CEO).
CHARLIE MCDONALD, PRESIDENT OF PREVIOS PARENT, GLOBAL AERO LOGISTICS (2008-04).
Charlie joined World Airways (WLD) in May of 2004 and was responsible for Flight Operations, Aircraft Maintenance and Engineering, In-Flight and Customer Service. Mr McDonald has >22 years of experience within the aviation industry, including as Chief Operating Officer for TransMeridian Airlines (TAL). Prior to (TAL), Charlie held several Senior level positions within British Aerospace Regional Aircraft and the AMR Corporation including Director of Aircraft Maintenance for Flagship Airlines. Charlie is a veteran of the US Army and a Graduate of Spartan College of Aeronautics and Technology.
JOHN GRABER, CHIEF EXECUTIVE OFFICER (CEO) (NNA).
JEFF MACKINNEY, PRESIDENT (WLD).
RANDY MARTINEZ, (CEO) WORLD AIR HOLDINGS (2004-05).
MICHAEL TOWE, CHIEF FINANCIAL OFFICER (CFO) (2006-04).
CHARLES ADDISON, SENIOR VP OPERATIONAL SUPPORT SERVICES.
JOSEPH SHALLCROSS, SENIOR VP TECHNICAL SERVICES.
JEFF SANBORN, CHIEF MARKETING OFFICER (CMO), OF PARENT GLOBAL AERO LOGISTICS (2008-04).
GEORGE WILSON, VP & DIRECTOR FLIGHT OPERATIONS (2004-12).
Mr Wilson joined World Airways (WLD) in June of 2003 as Ground School Instructor for Flight Operations. He was promoted to Director of Flight Standards and Flight Training in February of 2004. In September of 2004, he was promoted to Vice President, Flight Operations, responsible for all aspects of flight operations. Prior to joining (WLD), he was a chief pilot with Delta Air Lines (DAL). Mr Wilson is a retired US Air Force Brigadier General.
CAPTAIN TOM EDMONDS, CHIEF PILOT.
LARRY MONTFORD, VP TECHNICAL OPERATIONS (2004-07).
Mr Montford joined World Airways (WLD) in March of 2004 and is responsible for all facets of aircraft maintenance, Reliability, Records, Engineering, Maintenance programs, Quality Control, Quality Assurance, Maintenance Control and Material Services. Mr Montford has over 25 years of experience in the aviation industry, most recently as Vice President of Maintenance at Air Jamaica (JAM). Mr Montford spent 18 years with Northwest Airlines (NWA) and five years with US Airways (USA) holding key positions in most every area of maintenance. Mr Montford is a graduate of Georgia State University.
JOHN PETER, VP MAINTENANCE & QUALITY CONTROL (QC), EX-BOEING REP (IADMMWO) (2000-09).
LT GENERAL LEO MARQUEZ, VP MAINTENANCE & QUALITY CONTROL (QC) (2001-09).
JIM SMITH, VP MAINTENANCE.
MICHAEL LEWIS, VP TECHNICAL SERVICES SPECIAL PROJECTS.
KEN GROVER, VP MANAGEMENT INFORMATION SYSTEMS.
G BROWN, VP SAFETY & INTERNAL AUDIT.
REID GIBSON, VP & TREASURER.
MS RENEE SKINNER, VP & CONTROLLER.
Ms Skinner is Vice President and Controller of World Airways (WLD). She joined the Company as Controller in April 2001. Prior to (WLD), she was Plant Controller of a start-up company in the automobile industry from 1999 through 2001. Prior to this, she held the positions of Assistant Vice President/Controller and Accounting Manager for Atlantic Southeast Airlines (ASA) from 1986 through 1999. Prior to (ASA), she was with General Mills Restaurant (Red Lobster, The Olive Garden, etc), holding various accounting positions from 1979 through 1986. Ms Skinner is a graduate of Roanoke College with a BBA, and was a (CPA) in the state of Florida.
BOB PERRY, VP BUSINESS DEVELOPMENT.
KENNETH FRALICK, VP CARGO SALES.
MS ANN AKTABOWSKI, VP CUSTOMER SERVICE.
Ms Aktabowski joined World Airways (WLD) in May of 1995 and is responsible for the overall operation of the Customer Service Department. Ms Aktabowski has almost 40 years of airline experience including 25 years with Eastern Airlines (EAL), where she held increasingly responsible positions concluding with Director of Sales and Services at (JFK). Ms Aktabowski also spent 3 years with the (NYNJ) Port Authority and a year with Tower Air (TOW) prior to joining World Airways (WLD) as Station Manager at (JFK). Ms Aktabowski transferred to the World Airways (WLD) headquarters in 1997 as Director of Safety, and assumed her current position in Late 1999.
MS JENNY POOLE, VP IN-FLIGHT DSERVICES.
Ms Poole joined the company in May 2004 as the Director - In-Flight Services and was promoted to Vice-President - In-Flight Services in February 2005. Prior to joining World (WLD), she was Managing Member of Food Service Solutions, LLC, a marketing and sales company representing major food manufacturers to the airline industry. Ms Poole spent more than 30 years with Delta Air Lines (DAL), retiring as Senior-Vice President - In-Flight Service responsible for Delta's worldwide Flight Attendants and food and beverage operations. She was named (ATL) Aviation Executive of the Year in 1993. She is former Chairman and President of the International In-Flight Food Service Association and currently serves as Chairman of the Board for Cambridge House Enrichment Center, a day care facility for the elderly, and on the board of directors for the Childhood Autism Foundation. Ms Poole is a graduate of the State University of West Georgia and the Wharton School Executive Management Program, University of Pennsylvania.
ALAN FORT, VP PASSENGER SALES.
HENDRIK FALK, VP CARGO SALES, EX-(PAO) (2009-10).
STEVE FORSYTH, DIRECTOR CORPORATE COMMUNICATIONS (email@example.com).
Read article above ((WLD)-OCT06) by Steve Forsyth, Director Corporate Communications in "Airline Business" magazine.
MS HEATHER HAMILTON, DIRECTOR SAFETY & INTERNAL AUDIT (2001-12).
JACK RICHARDSON, DIRECTOR MAINTENANCE OPERATIONS.
ED GERAGHTY, DIRECTOR AIRCRAFT PRODUCTION.
JACK SWEENEY, DIRECTOR BASE MAINTENANCE.
JOHN PEARMAN, DIRECTOR TECHNICAL SERVICES (IADMMWO)
(T: 770 632 8199) (FAX: 770 632 8081) (2001-12).
JIM HALES, MAINTENANCE DIRECTOR.
JIM POTTS, DIRECTOR LINE MAINTENANCE (2001-12).
DAVID BURTON, DIRECTOR QUALITY ASSURANCE (QA).
BOB AMIS, DIRECTOR QUALITY CONTROL (QC) (2001-12).
MS DEBORAH HAYDON, MANAGER QUALITY CONTROL (QC) (2001-12).