Fuelstream Inc. Starts Booking Revenues as U.S. Re
Post# of 94266
Posted On: 11/21/2013 8:11:14 AM
Fuelstream Inc. Starts Booking Revenues as U.S. Representatives Appointed by Global Airways
Fuelstream Inc. Starts Booking Revenues as U.S. Representatives Appointed by Global Airways
SUNRISE, FL--(Marketwired - Nov 21, 2013) - Fuelstream, Inc. (OTCQB: FLST) ("Fuelstream" or the "Company") acting as the U. S. Representative for Global Airways, a Johannesburg-based international air transport organization involved in the acquisition, refurbishment, maintenance, leasing, and chartering of aircraft (herearter, "Global"), has started receiving funds and performing the services required under a Letter of Appointment that was announced by the Company on August 8, 2013. As part of the many services required under the agreement, Fuelstream is acting as the purchasing and pay agent for Global. A recent sale and delivery of one of Global's aircraft, a DC-10 to Brazil, required Fuelstream to handle the compensation of the pilots as well as other required payments. Fuelstream verified that the services were provided to the standards expected by Global then completed the payments. Over the next several months, many more transactions of this nature are expected to occur, as Global continues to prepare for the launch of its service from South Africa to south Florida.
In the Company's August 8, 2013 press release announcing the appointment, Ron Finger, Global's Managing Director, noted that Global would require over 1,800,000 gallons per month in jet fuel that would be supplied by Fuelstream, in addition to the other complementary services required by an international airline. Robert Catala, CEO of Fuelstream, stated, "With Fuelstream already receiving funds and commencing these services over the months ahead, investors can look forward to regular updates on the progress we make in becoming a preferred provider of both Aviation Jet Fuel, as well as the ancillary services required to assist our clients. It has been a challenging year getting to this stage, but now that we are generating cash flow through our appointment by Global, I feel comfortable stating that we will establish more clients interested in this type of service. For more information on this particular appointment, visit the Fuelstream website and review our August 8th release."
About Global Airways
Global Airways is an international Air Transport Organization involved in the acquisition, heavy maintenance, refurbishment, chartering and leasing of aircraft.
Established in 2001, Global's principal strategy is to offer full aircraft services and maintenance with a highly trained staff and crew compliment. Global services many government and regional airlines based in South Africa and the company is seeking to add fuel serving as a new business unit.
Global intends to expand its fleet in order to provide wide body freight service from Johannesburg through Africa, Europe, Hong Kong, and the United States.
Global also intends to reintroduce passenger service to and from Miami International Airport to Johannesburg with a possible route to Cape Town. This was a very successful route before political commitments in 2004 terminated service. Global intends to run 4 flights per week round trip.
About Fuelstream
Fuelstream is an operating fuel logistics company that concentrates its supply chain management efforts in the distribution of aviation fuel to corporate, commercial, military, and privately-owned aircraft throughout the world. Currently, a majority of the Company's fuel and related services are concentrated in the sourcing, purchase and delivery of (Jet-A) fuel "into the wing" of private and commercial aircraft at various airports. With offices in Sunrise, Florida and Johannesburg South Africa, the Company intends to supply a variety of ground services either directly or through its affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals, and third-party invoice reconciliations. For more information please visit www.thefuelstream.com.
Safe Harbor and Forward-Looking Statements
This press release contains certain forward-looking statements regarding possible future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, any risks and uncertainties with respect to the Company's operations, as well as those contained in the Company's quarterly, annual, and periodic filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.
Fuelstream Inc. Starts Booking Revenues as U.S. Representatives Appointed by Global Airways
SUNRISE, FL--(Marketwired - Nov 21, 2013) - Fuelstream, Inc. (OTCQB: FLST) ("Fuelstream" or the "Company") acting as the U. S. Representative for Global Airways, a Johannesburg-based international air transport organization involved in the acquisition, refurbishment, maintenance, leasing, and chartering of aircraft (herearter, "Global"), has started receiving funds and performing the services required under a Letter of Appointment that was announced by the Company on August 8, 2013. As part of the many services required under the agreement, Fuelstream is acting as the purchasing and pay agent for Global. A recent sale and delivery of one of Global's aircraft, a DC-10 to Brazil, required Fuelstream to handle the compensation of the pilots as well as other required payments. Fuelstream verified that the services were provided to the standards expected by Global then completed the payments. Over the next several months, many more transactions of this nature are expected to occur, as Global continues to prepare for the launch of its service from South Africa to south Florida.
In the Company's August 8, 2013 press release announcing the appointment, Ron Finger, Global's Managing Director, noted that Global would require over 1,800,000 gallons per month in jet fuel that would be supplied by Fuelstream, in addition to the other complementary services required by an international airline. Robert Catala, CEO of Fuelstream, stated, "With Fuelstream already receiving funds and commencing these services over the months ahead, investors can look forward to regular updates on the progress we make in becoming a preferred provider of both Aviation Jet Fuel, as well as the ancillary services required to assist our clients. It has been a challenging year getting to this stage, but now that we are generating cash flow through our appointment by Global, I feel comfortable stating that we will establish more clients interested in this type of service. For more information on this particular appointment, visit the Fuelstream website and review our August 8th release."
About Global Airways
Global Airways is an international Air Transport Organization involved in the acquisition, heavy maintenance, refurbishment, chartering and leasing of aircraft.
Established in 2001, Global's principal strategy is to offer full aircraft services and maintenance with a highly trained staff and crew compliment. Global services many government and regional airlines based in South Africa and the company is seeking to add fuel serving as a new business unit.
Global intends to expand its fleet in order to provide wide body freight service from Johannesburg through Africa, Europe, Hong Kong, and the United States.
Global also intends to reintroduce passenger service to and from Miami International Airport to Johannesburg with a possible route to Cape Town. This was a very successful route before political commitments in 2004 terminated service. Global intends to run 4 flights per week round trip.
About Fuelstream
Fuelstream is an operating fuel logistics company that concentrates its supply chain management efforts in the distribution of aviation fuel to corporate, commercial, military, and privately-owned aircraft throughout the world. Currently, a majority of the Company's fuel and related services are concentrated in the sourcing, purchase and delivery of (Jet-A) fuel "into the wing" of private and commercial aircraft at various airports. With offices in Sunrise, Florida and Johannesburg South Africa, the Company intends to supply a variety of ground services either directly or through its affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals, and third-party invoice reconciliations. For more information please visit www.thefuelstream.com.
Safe Harbor and Forward-Looking Statements
This press release contains certain forward-looking statements regarding possible future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, any risks and uncertainties with respect to the Company's operations, as well as those contained in the Company's quarterly, annual, and periodic filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.
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