Here's an e-mail I got concerning AVIA purchasing KIWI Airlines. Looks like this one could go from 7 to 20 fairly quickly.
SOURCE: Aviation Industries Corporation
Aviation Industries in Negotiations to Merge With KIWI
ROSELAND, N.J., March 6 /PRNewswire/ -- Aviation Industries Corporation
(OTC Bulletin Board: AVIA - news) announced today that it has increased
its investment in KIWI International Holdings, Inc. (OTC: Bulletin
Board: KIWI), terms of which were not disclosed. An Aviation Industries
spokesperson further disclosed that it has entered into an agreement to
negotiate in good faith to complete a merger agreement with KIWI
International Holdings, subject to mutual due diligence and regulatory
approval. KIWI International Holdings, Inc. owns KIWI International Air
Lines. Aviation Industries currently owns a convertible security in KIWI
International Holdings.
Aviation Industries released the following statement, ''We believe KIWI
has a solid route structure, well-known name and excellent employee
base. All KIWI flights are operating as scheduled and the company has
experienced increased bookings. With additional capital, KIWI expects to
expand its marketing activities and begin the acquisition of smaller
aircraft, which will allow it to serve more markets. The basis for a
profitable company is there.'' KIWI has current revenues in excess of
$80 million.
Aviation Industries has also retained AIBC Investment Services
Corporation to advise it on the merger of the companies.
Aviation Industries, based in Roseland, NJ is a newly formed investment
company concentrating its efforts on the regional and charter aviation
markets. In February, Aviation Industries provided the
debtor-in-possession financing for Sun Jet International Airlines.
Based in Newark, NJ, KIWI has 650 employees and serves New York,
Chicago, Boston, Atlanta, Orlando, Palm Beach and San Juan.
This release contains forward-looking statements, statements that are
made pursuant to the safe harbor provisions of the Private Securities
Act of 1995. Forward-looking statements involve known and unknown risks
and uncertainties which may cause the actual results in future periods
to differ materially from what is anticipated.
SOURCE: Aviation Industries Corporation |
