FORT LAUDERDALE, Fla., May 16, 2014 (GLOBE NEWSWIRE) -- Basta Holdings Corp. (OTCBB: BSTA ), an aviation services and logistics management company, today announced that its President and CEO, Jacob Gitman has recently completed an extensive business trip to Hong Kong and mainland China where he discussed various opportunities for business diversification in the vast and expanding Chinese aviation-related industries.
During his various meetings with government institutions and private companies, Mr. Gitman conducted negotiations regarding various business opportunities in aviation sales and leasing, aircraft maintenance repair and overhaul (MRO) operations, private business aviation services and other core services in which the Company specializes. In meetings with top executives of one of the largest government-owned travel agency chains in China, he discussed forming a joint venture, which is anticipated to offer specialized premium-class air travel services.
"In 2013, the number of outbound tourists from China totaled over 97 million, up almost 17% compared to 2012, and this market is expected to grow exponentially. Our Chinese partners have verbally committed to supplying at least 2,000 travelers per month for our innovative premium class tours catering to upper middle class traveler who could pay up to $10,000 per person for a package deal which would include airfare in a specially retrofitted luxury airliner and high-end hotel accommodations," stated Mr. Gitman.
"After performing market research alongside our Chinese counterparts, our joint venture project may cater to routes from Shanghai to Hawaii, Las Vegas, and Macau, which will provide travelers all the fun and excitement of Las Vegas and Macau mixed with the relaxation and peacefulness of the pristine beaches of Hawaii," continued Mr, Gitman.
"We are currently diligently working on finalizing the project of this potential joint venture, which may include the acquisition and overhaul of several large jetliners and involve various contractual arrangements with the providers of destination-specific accommodations and services. We have also engaged Monarch Air Group and Mercury Jets in working together on this project to employ their experience in managing elite air travel," concluded 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 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 reve nue 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.
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