FORT LAUDERDALE, Fla., Oct. 21, 2014 (GLOBE NEWSWIRE) -- Basta Holdings Corp. (OTCBB:BSTA), an aviation services and logistics management company, announced today that it has signed ACMI Charter Agreements with UTair South Africa (PTY) Ltd. and Aviaservice Ltd. whereby the Company will charter rotary wing aircraft including MI-171 and Mi-8MTV-1 helicopters for delivery to its customers based on the terms of current and future Aircraft, Maintenance, Crew and Insurance (ACMI) leases.
Basta Holdings will use the chartered helicopters to fulfill its recent agreement to provide logistical support for non-military operations by German forces based in Afghanistan as well as any future agreements that require these aircraft. As part of this agreement, the Company has delivered a second utility helicopter to Mazar-e Sharif, Afghanistan for use by German forces in accordance with the terms of a new ACMI lease whereby Basta Holdings will receive a monthly fee for its transportation services.
Jacob Gitman, President of Basta Holdings commented, "Basta Holdings is pleased to announce our recent charter agreements with leading organizations in the global aviation industry. Our working relationships with Aviaservice and UTair South Africa will ensure that we can fulfill our ACMI leases that provide logistical support for German non-military operations in Afghanistan by delivering state-of-the-art utility helicopters."
"As the current geopolitical conflict in the Middle East intensifies, Basta Holdings could see a surge in the number of its fixed and rotary-wing aircraft leases due to the Company's vast experience in this niche market. As a result it is crucial that we partner with premier organizations that will enable our business to grow and continue providing the finest aircraft for aviation services and logistical support for our customers all over the world," continued Mr. Gitman.
About Aviaservice Ltd.
Aviaservice Ltd., based in Georgia, provides charter flights for government and private entities, responding to and managing helicopter flights for purposes ranging from corporate executive travel to emergency firefighting and other related missions. For more information visit www.aviaservice.biz.
About UTair
UTair is a modern, first-class, competitive airline conducting its activities on market principles and striving towards maximum transparency while aiming to provide a whole new level of passenger service. The airline is built on a resilient business model designed to withstand the shocks of national and global economic contingencies by diversifying its resources across key business areas including helicopter operations in Russia and abroad as well as passenger transportation. UTair's passenger and cargo operations on domestic and international routes are performed using a range of modern rotary and fixed wing aircraft. For more information visit www.corp.utair.ru/en/.
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, 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.