Basta Holdings Enters Agreement With Chemoil Aviation to Broker Jet Fuel and Related Services
May 27 2014 - 8:00AM
Basta Holdings Corp. (OTCBB:BSTA),an aviation
services and logistics management company, today announced that the
Company has entered into an agreement with Chemoil Aviation to
purchase and sell its jet fuel.
Basta Holdings will act as a representative of Chemoil Aviation,
one of the fastest growing downstream marketers of aviation fuels
and related services worldwide, by introducing Chemoil to
prospective customers and jet fuel suppliers. The Company will earn
commissions for any corresponding agreements that it brokers
between its customers and Chemoil Aviation. Additionally, Basta
Holdings will purchase aviation fuel from Chemoil to resell to
customers at fixed base operator (FBO) sites and maintenance,
repair and overhaul (MRO) facilities worldwide at a premium. An FBO
is a general refueling and light repair facility that services jets
and private aircrafts while MRO's primarily provide comprehensive
repair and overhaul services but also offer refueling services. The
Company will also use Chemoil as the fuel provider for the
long-term ACMI leases of heavy rotary wing aircraft commissioned by
government, non-government organizations (NGO), UN and commercial
contractors that it helps manage. Fuel is part of the comprehensive
service provided in an Aircraft, Crew, Maintenance and Insurance
(ACMI) lease. "Establishing a relationship with one of the world's
top providers of aviation refueling and related services is a
positive development for Basta Holdings. Our agreement with Chemoil
Aviation allows us to provide ACMI leasing, FBO and MRO customers
worldwide with the highest level of jet refueling and related
services while simultaneously creating a revenue stream for Basta
through the brokerage of these services," commented Jacob Gitman,
Basta Holdings' President and CEO. "As we begin to acquire FBO's
and MRO's in the US and China as part of our growth strategy, Basta
Holdings will be in a prime position to meet several new potential
customers and suppliers of Chemoil's jet fuel which we can now
profit from by brokering an agreement on their behalf," added Mr.
Gitman. About Chemoil Aviation Established in
January 2012, Chemoil Aviation is one of the fastest growing
downstream marketers of aviation fuels and related services
worldwide. Built on the strong foundation of Chemoil Corporation,
one of the worlds' leading retail energy companies in Sea, Air and
Land, Chemoil Aviation also offers competitive credit and contract
terms, risk management and CO2 trading to augment your fuel
procurement needs.
The company's extensive global network of major national and
regional suppliers and agents enables it to ensure both supply and
on-time delivery at competitive prices. Chemoil Aviation's growing
roster of clients includes commercial and corporate aircraft
operators, fixed base operations, and military and government
sectors at over 1,800 locations worldwide. For more information
about Chemoil, please visit www.chemoil.com.
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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