Fuelstream Inc. Starts Booking Revenues as U.S. Representatives Appointed by Global Airways
November 21 2013 - 8:00AM
Marketwired
Fuelstream Inc. Starts Booking Revenues as U.S. Representatives
Appointed by Global Airways
SUNRISE, FL--(Marketwired - Nov 21, 2013) - Fuelstream, Inc.
(OTCQB: FLST) ("Fuelstream" or the "Company") acting as the U. S.
Representative for Global Airways, a Johannesburg-based
international air transport organization involved in the
acquisition, refurbishment, maintenance, leasing, and chartering of
aircraft (herearter, "Global"), has started receiving funds and
performing the services required under a Letter of Appointment that
was announced by the Company on August 8, 2013. As part of the
many services required under the agreement, Fuelstream is acting as
the purchasing and pay agent for Global. A recent sale
and delivery of one of Global's aircraft, a DC-10 to Brazil,
required Fuelstream to handle the compensation of the pilots as
well as other required payments. Fuelstream verified that the
services were provided to the standards expected by Global then
completed the payments. Over the next several months, many
more transactions of this nature are expected to occur, as Global
continues to prepare for the launch of its service from South
Africa to south Florida.
In the Company's August 8, 2013 press release announcing the
appointment, Ron Finger, Global's Managing Director, noted that
Global would require over 1,800,000 gallons per month in jet fuel
that would be supplied by Fuelstream, in addition to the other
complementary services required by an international
airline. Robert Catala, CEO of Fuelstream, stated, "With
Fuelstream already receiving funds and commencing these services
over the months ahead, investors can look forward to regular
updates on the progress we make in becoming a preferred provider of
both Aviation Jet Fuel, as well as the ancillary services required
to assist our clients. It has been a challenging year getting
to this stage, but now that we are generating cash flow through our
appointment by Global, I feel comfortable stating that we will
establish more clients interested in this type of service. For
more information on this particular appointment, visit the
Fuelstream website and review our August 8th release."
About Global Airways
Global Airways is an international Air Transport Organization
involved in the acquisition, heavy maintenance, refurbishment,
chartering and leasing of aircraft.
Established in 2001, Global's principal strategy is to offer
full aircraft services and maintenance with a highly trained staff
and crew compliment. Global services many government and regional
airlines based in South Africa and the company is seeking to add
fuel serving as a new business unit.
Global intends to expand its fleet in order to provide wide body
freight service from Johannesburg through Africa, Europe, Hong
Kong, and the United States.
Global also intends to reintroduce passenger service to and from
Miami International Airport to Johannesburg with a possible route
to Cape Town. This was a very successful route before political
commitments in 2004 terminated service. Global intends to run
4 flights per week round trip.
About Fuelstream
Fuelstream is an operating fuel logistics company that
concentrates its supply chain management efforts in the
distribution of aviation fuel to corporate, commercial, military,
and privately-owned aircraft throughout the world. Currently, a
majority of the Company's fuel and related services are
concentrated in the sourcing, purchase and delivery of (Jet-A) fuel
"into the wing" of private and commercial aircraft at various
airports. With offices in Sunrise, Florida and Johannesburg
South Africa, the Company intends to supply a variety of ground
services either directly or through its affiliates, including
concierge services, passenger and baggage handling, landing rights,
coordination with local aviation authorities, aircraft maintenance
services, catering, cabin cleaning, customs approvals, and
third-party invoice reconciliations. For more information please
visit www.thefuelstream.com.
Safe Harbor and Forward-Looking Statements This press release
contains certain forward-looking statements regarding possible
future circumstances. These forward-looking statements are based
upon the Company's current expectations and assumptions and are
subject to various risks and uncertainties that could cause actual
results to differ materially from those contemplated in such
forward-looking statements including, in particular, any risks and
uncertainties with respect to the Company's operations, as well as
those contained in the Company's quarterly, annual, and periodic
filings with the Securities and Exchange Commission. Actual
results, events, and performance may differ. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as to the date hereof. The Company undertakes no
obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any
other person that the events or circumstances described in such
statements are material.
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