FORT LAUDERDALE, Fla., April 10, 2014 (GLOBE NEWSWIRE) -- Basta Holdings Corp. (OTCBB:BSTA), an aviation and logistics management company, today announced that it has assumed management of revenue-generating contracts in the field of heavy helicopter long-term leasing as well as private business aviation operations.
The Company now manages revenue-generating, long-term ACMI leases of heavy rotary wing aircraft commissioned by significant government, non-government organizations (NGO), UN and commercial contractors internationally. Additionally, the Company has been hired to provide services in the field of private business aviation operations. As part of the engagement, Basta Holdings anticipates entering into long term aircraft leases, which will be used in FBO operations as well as acquiring other assets which may increase the efficiency of its FBO services.
Management of Basta Holdings is in negotiations with several major aviation companies in China and elsewhere in Asia as well as Africa. The Company plans to expand its long-term heavy helicopter leasing business and establish joint ventures in the acquisition and development of maintenance, repair and overhaul (MRO) facilities and private business aircraft sales, management, charter and maintenance.
President of Basta Holdings Corp., Jacob Gitman, Ph,D., commented, "We are very confident that our experience and reputation, earned over years of operating various successful companies in the aviation industry, will ensure a prompt start and the successful development of Basta Holdings' commercial operations."
"In fact, since the new Board of Directors has taken over the company's operations, we've already begun generating revenue and anticipate significant growth in both our existing lines of business. Basta Holdings expects to quickly develop partnerships with new customers and joint ventures due to management's skill set, assets and corporate know how when operating in the most difficult and unforgiving aviation markets of the world such as Afghanistan and Africa," added Dr. Gitman.
"In particular, we look forward to working with several large potential partners in China, where one of our board members, Mrs. Shufen Xue, has connected our company with a major aviation industry player. Our Chinese expansion plans include addressing the enormous demand of that market for helicopter services, MRO facilities and private aviation where the Chinese government has approved long-term, specific goal-oriented programs funded with multi-billion dollar government development allotments," concluded Dr. 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 long-term leasing of fixed wing and rotary passenger and cargo aircrafts and private business aviation, which includes charter, maintenance, overhaul and FBO development 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. 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.
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