FBO Air, Inc. Acquires Initial Operations.SCOTTSDALE, Ariz. -- FBO FBO Federal Business Opportunities FBO FedBizOpps (formerly Commerce Business Daily) FBO Fixed Base Operator FBO For the Benefit Of (finance) FBO Fixed Base Operation FBO Faith Based Organization Air, Inc. announced today that it has acquired fixed base operations (FBO's) in Pennsylvania and Kansas. The FBO's are located in Wilkes-Barre/Scranton, Pennsylvania and Garden City, Kansas Garden City is a city in Finney County, Kansas, United States. The population was 28,451 at the 2000 census. It is the county seat of Finney CountyGR6, and provides the campus of Garden City Community College. . Local management and employees for each company - Tech Aviation Service, Inc. in Pennsylvania and Central Plains Aviation, Inc. in Garden City will remain in place and become part of the FBO Air team. "We are excited by the opportunities afforded by these initial transactions," said Ron Ricciardi, president of FBO Air, Inc. "We also believe that there is an opportunity to significantly improve the performance of these companies through the programs and economies of scale created by the FBO Air network. In consummating these transactions, the Company has achieved its first real milestone in terms of commercializing its business plan and a foundation has been established that will further galvanize gal·va·nize tr.v. gal·va·nized, gal·va·niz·ing, gal·va·niz·es 1. To stimulate or shock with an electric current. 2. the Company's ability to complete additional acquisitions that our team has targeted." FBO Air, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FBOR) acquires and operates fixed base operations (FBO's). Fixed base operations are the primary providers of services to private and general aviation aircraft operators. An FBO, at a minimum, fuels and hangars aircraft and may additionally service, recondition re·con·di·tion tr.v. re·con·di·tioned, re·con·di·tion·ing, re·con·di·tions To restore to good condition, especially by repairing, renovating, or rebuilding. , and otherwise maintain aircraft. Some FBO's also manage aircraft, operate flight schools and/or sell charter time. Each of the transactions in FBO Air's pipeline has functionality in some or most of these areas. This release includes projections of future results and "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as that term is defined in Section 27A of the Securities Act of 1933 as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although the management of FBO Air believes that the expectations reflected in these forward-looking statements are reasonable, there are no assurance that such expectations will prove to have been correct. |
|
|||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion