Start-Ups Investment Firm plans relaunch of World Airways
777 Partners, a US based investment firm, announced today that it has acquired the intellectual property of World Airways, Inc., the US airline known for its worldwide operational capabilities, and is planning to re-launch World Airways (“World”) as a low cost, long haul airline.
The investment firm is in discussions with Boeing for an initial order for up to ten Boeing 787 aircraft.
“Today, we are proud to begin preparations to launch scheduled operations from the US to Asia and Latin America. We will be partnering with low cost, short haul carriers in the US and in the regions we serve to provide connecting traffic to and from our initial planned gateways. We plan to announce our new brand look and feel within the next few weeks, under the direction of our Founding CMO, Freddie Laker,” said Ed Wegel, Founding CEO of World Airways.
777 Partners is a Miami based investment firm focused on different services in finance businesses. World Airways was an American airline headquartered in Greater Atlanta. The carrier mostly operated non-scheduled services. The airline received a substantial amount of its business from the military, especially in its role connecting American bases in the U.S. to the Middle East.
On March 27, 2014 World Airways announced cessation of all operations due to financial problems. At its closure the carrier operated a fleet of MD-11 and Boeing 747 aircraft in passenger and freight configuration.
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