FORT LAUDERDALE, Fla., April 24, 2014 (GLOBE NEWSWIRE) -- Basta Holdings Corp. (OTCBB:BSTA), an aviation services and logistics management company, today announced that it has entered into an agreement with Monarch Air Group to launch commercial operations of one-way private jet charters.
Basta Holdings expects operations to commence by August 14th, 2014 and has already leased the first aircraft to be used in this program, which will be delivered by May 5th, 2014. The Company intends to lease an entire fleet of light jets and expects additional aircraft deliveries to follow leading up to the charter service launch.
"Basta and Monarch's new regular charter service will present a viable solution for aircraft ownership, fractional ownership and conventional round-trip private jet charter as a result of our competitive pricing and convenience. We will offer a proprietary pricing schedule which is often not feasible because of the empty-leg surcharges and will provide a significant price advantage due to its regular and on-demand charter structures. Because of our light jets' ability to land on various airfields, we will also offer a more convenient service to our customers," stated Jacob Gitman, President of Basta Holdings Corp.
"We intend to begin our operations running the New York - Miami flight which taps into the premier business segment as approximately 2.5 million passengers traveled this route in 2013 and so far in 2014. As business grows, we intend to further scale this operation by offering one-way regular and on-demand business jet charter services to other top domestic routes of the considerable business travel segment. Additionally, Basta Holdings is looking at various overseas markets, particularly China where private business aviation is growing quickly due to soaring demand for domestic and international charter services as well as significant government funding allocated for the development of private jet transportation," continued Dr Gitman.
About Monarch Air Group
Monarch Air Group is a 14 CFR part 135 aircraft operator based at the Ft. Lauderdale International airport. Since its establishment in 2006 and obtaining its aircraft operating license in 2007, the company has been offering on demand charter service to a select group of clients, including Fortune 500 companies. Additionally, Monarch provides logistics services to the US government in the Middle East.
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.