Aircraft Lease Agreement Assigned to Viva.MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. -- Viva International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :VIVI VIVI Viestintävirasto (Ficora, Finnish Communications Regulatory Authority; Helsinki) ) announced today that it had agreed to accept the assignment of an aircraft lease for a SAAB SAAB Svenska Aeroplan Aktiebolaget (Swedish Aeroplane Corporation; auto/aircraft manufacturer) SAAB Student-Athlete Advisory Board SAAB Student African American Brotherhood SAAB South African Association of Botanists 340A s/n-073 from Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. (NYSE NYSE See: New York Stock Exchange :BAC) and Ford Motor Credit Company Ford Motor Credit Company is the financial services arm of Ford Motor Company, and is headquartered in Dearborn, Michigan. Its business activities are concentrated primarily in the area of automobile loans in support of its parent company. (NYSE:F) as owners. The lease will be administered by State Street Bank and Trust Company The State Street Bank and Trust Company is a bank. It was a subsidiary of the State Street Corporation, until it sold off the retail banking portion of this unit in 1999 to Citizens Financial Group (a subsidiary of the Royal Bank of Scotland), of Providence, RI. . A Company spokesman was quoted as follows, "Viva's revised strategic plan was to move towards the small commuter type aircraft. The acceptance of the assignment of an existing lease puts us in to the execution phase of building our fleet of aircraft. The Company's plan is to utilize 10 SAAB 340's as the cornerstone of our Caribbean passenger and cargo service. The Company currently plans to obtain an additional five (5) SAAB 340's through its relationship with the Bank of America/Ford Motor connection and seek to satisfy its remaining requirements through other vendors". The spokesmen added further, "We have received commitments that allow us to satisfy the financial terms pertaining to the lease deposit by November 30, 2004 and accordingly, the Company is positioning itself for its entry into operations. The Company's revised business plan has forecast expected future revenues to approximate $35 million during its first full year of operations with a better than industry average net earnings. This is an exciting time for the Company. We expect numerous updates during the upcoming weeks as we demonstrate performance on our plan to our shareholders and the financial community". This press release contains forward-looking statements within the meaning of Section 27A of the securities Act of 1933, as amended ("the Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words as "believe", "expect", "intend", "anticipate", "project", or other similar expressions. These forward-looking statements relate to, among other things, future performance and perceived opportunities in the market and statements regarding the Company's missions and vision. The Company's actual results, performance and achievements may differ materially from the results, performance and achievements expressed or implied in such forward-looking statements. 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 and Exchange Commission. |
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