FORT LAUDERDALE, Fla., June 10, 2014 (GLOBE NEWSWIRE) -- Basta Holdings Corp. (OTCBB:BSTA), an aviation services and logistics management company, today announced that Monarch Air Group has entered into a five year Basic Ordering Agreement (BOA) with the Defense Logistics Agency Energy department (DLA Energy) for the supply of jet fuel to various locations outside the continental United States.
Basta Holdings has an exclusive marketing and private jet charter agreement with Monarch Air Group, LLC. The terms of Monarch's BOA agreement with the United States DLA Energy department provides that Monarch will have the ability to bid on any commercial requests from the DLA Energy for "JA1" commercial jet fuel to be provided to OCONUS locations, which are outside of the continental US. Only companies that have signed a BOA agreement with the US government can compete for these contracts.
Basta Holdings' President, Jacob Gitman, commented, "Due to Basta's close working relationship with Monarch Air Group, we believe the Company is in a prime position to broker jet fuel services when DLA Energy puts out contracts that Monarch can now bid on via their BOA agreement. We believe that Monarch and Basta Holdings both have great potential to financially benefit from this five-year US government agreement."
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.
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