World Fuel Services Corporation Signs Fuel Management Contract With America West Airlines
December 01 2003 - 8:01AM
PR Newswire (US)
World Fuel Services Corporation Signs Fuel Management Contract With
America West Airlines MIAMI, Dec. 1 /PRNewswire-FirstCall/ -- World
Fuel Services Corporation , a global leader in the marketing and
financing of marine and aviation fuel products and related
services, announced today that their fuel management division has
been awarded the system-wide fuel procurement/management contract
for America West Airlines, Inc. The Tempe, AZ-headquartered airline
purchases approximately 450 million gallons of fuel annually in
over 62 domestic and international locations. Fuel expense accounts
for approximately 18 percent of the airline's total annual
operating costs. The program is expected to be fully operational by
the end of the airline's first quarter 2004. "America West is
committed to providing the best in airline travel while building
shareholder value, and we believe both of these objectives can be
met through reliability and cost efficiency," said America West
Senior Vice President and Chief Financial Officer Derek Kerr. "To
achieve those goals, it is critical that we select a business
partner who not only understands our particular fuel requirements,
but is committed to providing cost effective and reliable
management of this critical area of our business." "As we continue
to expand our global fuel management program we are very pleased to
have the opportunity to serve America West as a customer," said
Paul H. Stebbins, Chairman and Chief Executive Officer of World
Fuel Services Corporation. "America West has successfully
transformed their business model and emerged as one of the
country's premier low-cost airlines. We share their commitment to
customer service and are excited about the opportunity to use our
specialized expertise in the area of fuel procurement to reduce
costs, realize process efficiencies and add value." About America
West Airlines Founded in 1983 and proudly celebrating its 20-year
anniversary in 2003, America West Airlines is the nation's second
largest low-fare airline and the only carrier formed since
deregulation to achieve major airline status. America West's 12,000
employees serve nearly 55,000 customers a day in 93 destinations in
the U.S., Canada, Mexico and Costa Rica. For more information, call
(480) 693-5729 or visit: http://www.americawest.com/ . About World
Fuel Services Corporation Headquartered in Miami, FL, World Fuel
Services Corporation is a global leader in the downstream marketing
and financing of aviation and marine fuel products and related
services. As the marketer of choice in the aviation and shipping
industries, World Fuel Services Corporation provides fuel and
services at more than 1,100 airports and seaports worldwide. With
30 offices strategically located throughout the world, World Fuel
Services offers its customers a value-added outsource service for
the supply, quality control, logistical support and price risk
management of marine and aviation fuel. The Company's global team
of market makers provides deep domain expertise in all aspects of
marine and aviation fuel management. For more information, call
(305) 428-8127 or visit http://www.worldfuel.com/ . With the
exception of historical information in this news release, this
document includes forward-looking statements that involve risks and
uncertainties, including, but not limited to, quarterly
fluctuations in results, the management of growth, fluctuations in
world oil prices or foreign currency, major changes in political,
economic, regulatory, or environmental conditions, the loss of key
customers, suppliers or key members of senior management, uninsured
losses, competition, credit risk associated with accounts and notes
receivable, and other risks detailed from time to time in the
Company's Securities and Exchange Commission filings. Actual
results may differ materially from any forward-looking statements
set forth herein. For further information, please contact:
Investors, Michael Mason, +1-212-691-8087, , or Media, Len Hall,
+1-949-474-4300, , both of Allen & Caron Inc , for World Fuel
Services Corp; or Francis X Shea, EVP & CFO of World Fuel
Services Corporation, +1-305-428-8127, ; or Elise Eberwein, Vice
President, Corporate Communications of America West Airlines,
+1-480-693-5574. DATASOURCE: World Fuel Services Corporation
CONTACT: Investors, Michael Mason, +1-212-691-8087, , or Media, Len
Hall, +1-949-474-4300, , both of Allen & Caron Inc , for World
Fuel Services Corporation; or Francis X Shea, EVP & CFO of
World Fuel Services Corporation, +1-305-428-8127, ; or Elise
Eberwein, Vice President, Corporate Communications of America West
Airlines, +1-480-693-5574 Web site: http://www.americawest.com/
http://www.worldfuel.com/
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