Viva International announces reaching working agreements with Fina Air and commencement of flight operations
Business Editors
TRAVERSE CITY, Mich.--(BUSINESS WIRE)--Aug. 12, 2003--Viva
International, Inc. (OTCBB:VIVI) today announced that it has entered
into several agreements with Fina Air which define how the two
carriers will complement each other. Among the agreements is a joint
venture agreement that provides for Fina to operate various flight
routes that will be a part of the Viva Dominicana schedule. Viva has
agreed to provide various technical and administrative support
services as well as other financial considerations. As part of the
agreements, Viva will, at a future date, place two aircraft (SAAB
340's) with Fina. These aircraft will be painted in the Viva colors.
Fina will be operating other aircraft under Viva's certificate subject
to a compensation arrangement, the terms of which are subject to
additional negotiation.
Robert J. Scott, President & CEO of Viva International, Inc.,
said, "We are very pleased with the Fina Air association and the
agreements that we have reached. These agreements, in essence, will
allow us to begin providing scheduled air services. Accordingly, Viva
and Fina have announced a tentative schedule commencing October 2,
2003 that will provide service to and from San Juan & Mayaguez, Puerto
Rico and Santo Domingo, Santiago, Puerta Plata, & Punta Cana,
Dominican Republic. The estimated number of round trip flights during
the first month of operation is 168. The tentative air schedules will
be posted on the web sites of both Viva and Fina. Information on
ticketing and seat availability will be posted on the web sites soon.
The company websites are vivainternational.org, vivaairlines.com, and
fina-air.com."
Mr. Scott, also stated, "I would like to compliment Mr. Lazaro
Canto on the fine job he has done on bringing Fina Air to this point.
We mutually feel that the Viva-Fina relationship will allow each of us
to grow our respective organizations and we look forward to working
together".
Mr. Scott, added, "The Fina agreements bring us into the markets
that we will serve and there are significant economies associated with
starting in this manner. We will continue the execution of our master
business plan with renewed confidence and energy and look forward to
its development".
Viva International, Inc., based in Traverse City, Michigan, is the
holding company of Viva Airlines, Inc which includes Viva Dominicana.
Fina Air, based in San Juan, Puerto Rico is a privately held company.
In conjunction with the provisions of the "Safe Harbor" section of
the Private Securities Litigation Reform Act of 1995, this release may
contain forward-looking statements pertaining to future anticipated
projected plans, performance and developments, as well as other
statements relating to future operations. All such forward-looking
statements are necessarily only estimates of future results and there
can be no assurance that actual results will not materially differ
from expectations. Further information on potential factors that could
affect Viva International, Inc is found in the Company's Form 10-K and
other documents filed with the U. S. Securities & Exchange Commission.
--30--JTP/ny*
CONTACT: Martin E. Janis & Company, Inc.
Bev Jedynak, 312-943-1100 ext. 12
b.jedynak-janispr@att.net
KEYWORD: MICHIGAN
INDUSTRY KEYWORD: TRANSPORTATION AIRLINES
SOURCE: Viva International, Inc.
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Aug-12-2003 13:59 GMT
Symbols:
US;VIVI
Source BW Business Wire
Categories:
MST/I/AIR MST/I/TRQ MST/I/WLS MST/R/US/MI TGT/BWN
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