World Airways, a wholly owned subsidiary of World Air Holdings, Inc., has signed a two-year ACMI wet-lease contract with Air Canada for international cargo service between Toronto, Canada and several cities in Asia, and between Toronto and Europe. Under the agreement, World will operate an MD-11F freighter aircraft for Air Canada beginning in May 2005. The contract has an estimated value of $44 million.
“Air Canada is a leader in the airline industry, and we welcome the opportunity to partner with them as they expand their cargo operation,” said Rob Binns, World’s senior vice president, marketing and planning. “This agreement extends World’s presence in the flourishing Asian cargo markets.”