Basta Holdings to Diversify Its Aviation Services Through Joint Ventures With Chinese Partners
May 16 2014 - 8:00AM
Basta Holdings Corp. (OTCBB:BSTA), an aviation
services and logistics management company, today announced that its
President and CEO, Jacob Gitman has recently completed an extensive
business trip to Hong Kong and mainland China where he discussed
various opportunities for business diversification in the vast and
expanding Chinese aviation-related industries.
During his various meetings with government institutions and
private companies, Mr. Gitman conducted negotiations regarding
various business opportunities in aviation sales and leasing,
aircraft maintenance repair and overhaul (MRO) operations, private
business aviation services and other core services in which the
Company specializes. In meetings with top executives of one of the
largest government-owned travel agency chains in China, he
discussed forming a joint venture, which is anticipated to offer
specialized premium-class air travel services.
"In 2013, the number of outbound tourists from China totaled
over 97 million, up almost 17% compared to 2012, and this market is
expected to grow exponentially. Our Chinese partners have verbally
committed to supplying at least 2,000 travelers per month for our
innovative premium class tours catering to upper middle
class traveler who could pay up to $10,000 per person for a
package deal which would include airfare in a specially retrofitted
luxury airliner and high-end hotel accommodations," stated Mr.
Gitman. "After performing market research alongside our Chinese
counterparts, our joint venture project may cater to routes from
Shanghai to Hawaii, Las Vegas, and Macau, which will provide
travelers all the fun and excitement of Las Vegas and Macau mixed
with the relaxation and peacefulness of the pristine beaches of
Hawaii," continued Mr, Gitman. "We are currently diligently working
on finalizing the project of this potential joint venture, which
may include the acquisition and overhaul of several large jetliners
and involve various contractual arrangements with the providers of
destination-specific accommodations and services. We have also
engaged Monarch Air Group and Mercury Jets in working together on
this project to employ their experience in managing elite air
travel," concluded Gitman.
About Basta Holdings Corp.
Basta Holdings Corp. provides contract procurement, business
development and management services in the aviation and logistics
industries. The company specializes in management of long-term ACMI
leases of fixed wing and rotary passenger and cargo aircrafts and
private business aviation, which includes charter, maintenance,
overhaul and FBO development and management as well as various
auxiliary services. For more information on the company, please
visit www.bastaholdings.com. Forward Looking
Statements This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934. All
statements other than statements of historical facts included in
this press release are forward-looking statements. These statements
relate to future events or to the Company's future financial
performance, and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements. No past revenue or other performance can guarantee the
same or better performance in the future. Investors should not
place any undue reliance on forward-looking statements since they
involve known and unknown, uncertainties and other factors which
are, in some cases, beyond the Company's control which could, and
likely will, materially affect actual results, levels of activity,
performance or achievements. Any forward-looking statement reflects
the Company's current views with respect to future events and is
subject to these and other risks, uncertainties and assumptions
relating to operations, results of operations, growth strategy and
liquidity. Such risks, uncertainties and other factors, which could
impact the Company and the forward-looking statements contained
herein are included in the Company's filings with the Securities
and Exchange Commission. The Company assumes no obligation to
publicly update or revise these forward-looking statements for any
reason, or to update the reasons actual results could differ
materially from those anticipated in these forward-looking
statements, even if new information becomes available in the
future.
CONTACT: 888-959-7095
ir@sealpointconsulting.com
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