Interesting press release on Barlow Partners...
International Airline Support Group and Barlow Partners Announce Strategic Advisory Assignment with World Airways Inc.
BusinessWire, Monday, January 25, 1999 at 08:41
ATLANTA--(BUSINESS WIRE)--Jan. 25, 1999--International Airline
Support Group Inc. ("IASG") (AMEX:YLF) and Barlow Partners Monday
announced that they have entered into a strategic advisory assignment
with World Airways Inc. ("World") (NASDAQ:WLDA).
IASG and Barlow have been retained by World to assist it in a
fleet restructuring, as well as to explore other operational,
strategic and financial avenues in order to meet its new business
strategy. As part of this strategy, World announced last month a pair
of management changes as well as its desire to increase the carrier's
position in the cargo market. Utilizing a well-maintained fleet of 12
international range, widebody MD-11 and DC-10-30 aircraft, World
Airways has an enviable track record of safety, reliability and
customer service spanning five decades. World Airways, a U.S.
certified air carrier, provides customized transportation of
passengers and cargo for major international carriers, the United
States military and international leisure tour operators. Recognized
for its modern aircraft, flexibility and ability to provide seamless
service expansion for major airlines, World Airways meets the needs of
businesses and governments around the globe.
According to Alexius A. Dyer III, president and CEO of IASG: "The
alliance we have made with World is indicative of our commitment to
supporting all of our clients' aviation requirements. We are excited
about the World engagement and to be working with Barlow Partners, as
it highlights a growing trend in our aviation consulting business.
IASG's management team is comprised of various backgrounds in the
aviation industry, from airline to manufacturer and from leasing to
investment banking. IASG is capitalizing on this diverse experience by
offering this expertise to the marketplace. After successfully
completing similar assignments at CCAIR, WestAir and Mesa Airlines,
IASG is pleased to be working with World and looks forward to
assisting other airlines in reaching their strategic objectives."
International Airline Support Group Inc. is a worldwide supplier
of aircraft spare parts to the aviation redistribution market and a
lessor and trader of jet aircraft and engines. The company's 670
worldwide customers include major commercial passenger airlines, air
cargo operators, FAA certified maintenance and repair facilities,
overhaul facilities and other redistributors. The company's areas of
specialization include avionics, rotables (valves, hydraulics, pumps)
and airframe and engine components. The company specializes in certain
aircraft models, most notably McDonnell Douglas MD-80 and DC-9
aircraft, and Airbus A300 aircraft.
Other International Airline Support Group information, including
the 10-K and other press releases, is available through the company's
homepage: iasgroup.com.
Barlow Partners is an investment partnership which, together with
its affiliates, has publicly disclosed investments in CCAIR Inc.
(NASDAQ:CCAR), Continental Airlines Inc. (NYSE:CAI.A), International
Airline Support Group Inc. (AMEX:YLF), Mesa Air Group Inc.
(NASDAQ:MESA) and Virgin Express (NASDAQ:VIRGY) and has extensive
experience in mergers and acquisitions, aviation finance, including
aircraft and lease restructuring, aircraft acquisition and financial
restructuring. The Partnership includes Jonathan Ornstein, president
and chief executive officer of Mesa Air Group Inc., Jim Swigart,
president and chief executive officer of Virgin Express, Barclay
Jones, managing partner of Barlow Capital Partners, Dick Magumo,
previously general counsel for Trans World Airlines Inc., George
Murnane, executive vice president and chief financial officer of
International Airline Support Group Inc. and Lex Dyer, president and
chief executive officer of International Airline Support Group Inc.,
as well as several other Limited Partners.
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended. Those
statements reflect the intent, belief or current expectations of the
company and members of the management team. Prospective investors are
cautioned that any such forward-looking statements are not guarantees
of future performance and involve risk and uncertainties and that
actual results may differ materially from those contemplated by such
forward-looking statements reflecting changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time.
CONTACT: International Airline Support Group, Inc., Atlanta
George Murnane III, CFO
770/455-7575
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