Ex. 99.1
For Immediate Release
American Utilicraft Corporation and Global Air Group,
Execute $1.2 Billion Aircraft Purchase Agreement
Lawrenceville, GA - November 17, 2004 (Business Wire) - American Utilicraft
Corporation (OTC: AMUC) - Xxxx X. Xxxxxx, President and CEO of American
Utilicraft Corporation, and Xxxx Xxxxxx, Chief Executive Officer of Global Air
Group, of Brisbane Australia, after 5 months of negotiations have reached final
agreements for the purchase of 100 FF-1080 Freight Feeder Aircraft and executed
the Aircraft Purchase Agreement earlier this week.
The Aircraft Purchase Agreement's estimated value is approximately $1.2 Billion
including the support, spares, and training packages, and calls for progress
payments for the construction of the production aircraft to begin upon "First
Flight" of the FF-1080 Prototype Aircraft, slated for mid November 2005.
The production FF-1080 settled upon by both Companies, will be the -300 version,
which will accommodate the growing international freight feed market, and Global
Air Group's Europe and Africa B-747 freight operations. The FF-1080-300 is a
slightly larger version of AMUC's -200 developmental design.
"Because of the -200 development delays caused by 9/11, and the continued growth
of the international air cargo market, it became apparent to the Company in
early 2003, that the -200 would require design changes to meet current and
future market demands" stated Xxxx X. Xxxxxx, Chairman of AMUC.
"After extensive analysis of specific market segments, and discussions and
meetings with global freight forwarders, it was clear that the shipping demands
of the containerized feed segment would require a slightly larger production
version of the 1080 to accommodate the A-1, A-2, A-3 and like containers, as
well as the LD3" stated Dupont.
The FF-1080-300 that is being acquired by Global under this agreement, is the
same basic airframe as the -200 but is 10 ft. longer, has a gross weight of
70,000 lbs., and can transport 20,000 lbs. up to 1,000 nautical miles, with
reserves, in five A-1, A-2, or A-3 containers, or ten LD3 containers, or a
combination of containers and pallets measuring 88 in. x 125 in. each. Detailed
specs can be review on the Global Air Group website at xxx.xxxxxxxxxxxxxx.xxx.
Because of the apparent market demand for the -300, it has become the only
version of the FF-1080 that the Company will certify and produce.
The Companies are also finalizing negotiating on a Distributorship Agreement
that will give Global Air Group exclusive Distributorship Rights for sales and
support in the Europe and Africa markets.
About Global Air Group
Global Air is a Boeing 747 charter airline that operates and owns B-747
passenger and freight aircraft. Global Air Group's key team has worked in 72
countries since 1992. Global Air's focus is on being a behind-the-scenes charter
or wet lease specialized support airline that supports other airlines and
freight operators - anyone that can use Boeing 747's either passenger or freight
for a minimum of 6 to 12 months with Global Air Group's aircraft, crews,
maintenance and insurance package (ACMI basis or charter) or for special mission
work. Global Air is significantly cheaper than all other European and US wet
lease or charter companies due to their significantly lower Australian
overheads, favorable exchange rate while maintaining a first class "first world"
level of safety, reliability and service.
Global Air's web site is: xxx.xxxxxxxxxxxxxx.xxx
About American Utilicraft Corporation American Utilicraft Corporation was formed
in 1990, to target the significant problem of addressing the overnight express,
supply chain, e-commerce, and global third party logistics entities inability to
provide effective "containerized" fulfillment and distribution in the short haul
(or feeder) route segments of air cargo. The result of the Company's research
and development is a new air vehicle, the FF-1080 Freight Feeder aircraft,
capable of carrying standard industry air containers on short-to-medium
range/medium density routes, and an integrated air cargo information system for
the freight feeder market.
For more information visit the Company's website at xxx.xxxxxxxxxx.xxx
Safe Harbor Statement
This press release contains "forward-looking" statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
in this press release involve risks and uncertainties and reflect the company's
current views with respect to possible future events. Readers are cautioned that
no forward-looking statement can be guaranteed and actual results or events may
materially differ from those projected or anticipated. In particular, the
following factors, among others, could cause actual results or events to differ
materially from those described in the forward-looking statements: the company's
ability to obtain and fulfill contracts for the sale of products, protect
intellectual property rights and manage future growth; market acceptance of
future products; product supplier delays; design and engineering certification
delays or denials; and the introduction of similar products by competitors. Any
forward-looking statement made in this press release is made as of the date of
this press release, and the company assumes no obligation to update any such
forward-looking statement, whether as a result of new information, future
events, or otherwise. Forward-looking statements in this press release should be
evaluated together with the many uncertainties that affect the company's
business, particularly those mentioned in the Risk Factors section contained in
the company's Form SB-2, as filed with the Securities and Exchange Commission.
Contact:
American Utilicraft Corporation Global Air Group
Xxxx X. Xxxxxx - President, CEO Xxxx Xxxxxx - Chief Executive Officer
Phone: (000) 000-0000 X-0000 Office Tel: x00 0 000 00 000
Fax: 000-000-0000 Office Fax: x00 0 000 00 000
Website: xxx.xxxxxxxxxx.xxx Website: xxx.xxxxxxxxxxxxxx.xxx
