|By Marketwired .||
|March 17, 2014 10:30 AM EDT|
SUNRISE, FL -- (Marketwired) -- 03/17/14 -- Fuelstream, Inc. (OTCQB: FLST) ("Fuelstream" or the "Company"), a worldwide reseller of Aviation Jet fuel, announced today that it has initiated fueling operations in Africa by providing fuel uplifts to Global Airways. The initial schedule provided to Fuelstream called for 11 flights in the first week and is expected to ramp up as additional flights are added. As the fueling schedule ramps up, the fuel uplifts will be accomplished through our worldwide network of aviation jet fuel vendors. Most flights will be between South Africa and other airports throughout the African continent.
Fuelstream announced the availability of a new credit facility on March 6, 2014. As we stated in the release, this credit facility allows Fuelstream to immediately commence fuelings for some of their existing customers. We plan to grow this credit facility by expediting ticket tracking, overnight invoicing, and by maintaining an impeccable payment history. We expect additional fuel uplift requests and we have the capacity to service significantly more customers. We also anticipate broadening the scope of our involvement with our customers, as we begin providing ground services, such as concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals, and third-party invoice reconciliations either directly or through affiliates.
Fuelstream is an operating fuel logistics company that concentrates its supply chain management efforts in the distribution of aviation fuel to corporate, commercial, military, and privately-owned aircraft throughout the world. Currently, a majority of the Company's fuel and related services are concentrated in the sourcing, purchase and delivery of (Jet-A) fuel "into the wing" of private and commercial aircraft at various airports. With offices in Sunrise, Florida and Johannesburg South Africa, the Company intends to supply a variety of ground services either directly or through its affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals, and third-party invoice reconciliations. For more information please visit www.thefuelstream.com.
Global Airways is an international Air Transport Organization involved in the acquisition, heavy maintenance, refurbishment, chartering and leasing of aircraft.
Established in 2001, Global's principal strategy is to offer full aircraft services and maintenance with a highly trained staff and crew compliment. Global services many government and regional airlines based in South Africa and the company is seeking to add fuel serving as a new business unit.
Safe Harbor and Forward-Looking Statements
This press release contains certain forward-looking statements regarding possible future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, any risks and uncertainties with respect to the Company's operations, as well as those contained in the Company's quarterly, annual, and periodic filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.
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