New Route Developments at Viva/RegionsAir.SMYRNA, Tenn. -- Viva International, Inc. (VIVI VIVI Viestintävirasto (Ficora, Finnish Communications Regulatory Authority; Helsinki) .OB) announced today that in conjunction with its decision to acquire RegionsAir that it will be providing a fleet of 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 340 aircraft to RegionsAir for use in providing service under recently awarded new Essential Air Service routes. The company will provide additional details of the acquisition of the aircraft and terms thereof soon. By order dated September 9, 2005, the US Department of Transportation (DOT) selected RegionsAir to provide subsidized Essential Air Service to Parkersburg, Morgantown and Clarksburg/Fairmont, West Virginia for a two year period, establishing a combined subsidy rate of $1,051,333 per year for service to Cincinnati utilizing SAAB 340 aircraft. Fred Breeden, Executive Vice President and Chief Financial Officer of RegionsAir, Inc., commented, "We are pleased with the DOT's decision to select RegionsAir for the new West Virginia routes. This moves our operation into cabin class service and will add approximately $6 million annually in gross passenger revenues to our Company. We are anxious to place the SAAB 340's into usage and anticipate an orderly transition." As previously announced on October 7, 2005, Viva has issued an irrevocable letter of intent to acquire RegionsAir. In existence since 1996, Tennessee based RegionsAir is a privately held air carrier providing regional commuter air service to cities in Missouri In Missouri, cities are classified into three types: Class 3, Class 4, and those under constitutional charters. A few older cities are incorporated under legislative charters (Carrollton, Chillicothe, LaGrange, Liberty, Miami, Missouri City, and Pleasant Hill) which are no longer , Iowa, Illinois, Indiana, Kentucky and Tennessee. RegionsAir DOT filings report gross operating revenues approximately $24 million for the year ended December 31, 2004. RegionsAir operates some of its routes as "American Connection" in a number of markets under an operational agreement with American Airlines (NSYE:AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. ). About Viva International Viva International, Inc. ("VIVA") is a publicly traded aviation holding company (VIVI.OB) in the business of developing and/or acquiring aviation related entities with beneficial air service certificates and economic rights, collectively referred to as "VIVA." The Company's strategy is to capitalize on centralized operational infrastructure and combined resource allocation resource allocation Managed care The constellation of activities and decisions which form the basis for prioritizing health care needs of our internal holdings to service routes in "niche" markets domestically and internationally. Viva's group of companies provides high quality products and services to the air travel industry with a heavy emphasis on the Caribbean market. RegionsAir, Inc., under a recently executed Irrevocable Letter of Intent - Acquisition Agreement, is VIVA's primary operator located domestically in Smyrna (Nashville), Tennessee. In addition, the Company has operations in the Caribbean located in San Juan, Puerto Rico San Juan (IPA: [saŋ hwaŋ]) (from the Spanish San Juan Bautista, "Saint John the Baptist") is the capital and largest municipality on Puerto Rico. and Santo Domingo, Dominican Republic under Eastern Caribbean Air ("ECAIR") and Viva Air Dominicana Viva Air Dominicana, S.A. is a Dominican airline based at Las Américas International Airport, Santo Domingo with flights to San Juan, Puerto Rico, Curacao and other Caribbean islands from Santo Domingo, Santiago, and Punta Cana. Fleet
v. head·quar·tered, head·quar·ter·ing, head·quar·ters Usage Problem v.tr. To provide with headquarters: is located in Traverse City, Michigan Traverse City is a city in the U.S. state of Michigan. It is the largest in the 21-county Northern Michigan region. As of the 2000 census, the city population was 14,532. In 2005, the Traverse City Micropolitan Statistical Area was the largest in Michigan and the 13th largest in . 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 upon 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 mission 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other documents filed with the U. S. Securities and Exchange Commission. |
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