Press Release
June 13, 2001
FOUNTAIN VALLEY, CA -- Transtar Holdings, Inc. (OTCBB:TNNS) currently has a signed Letter of Intent with Supplemental
Airline: LorAir, LTD., in which Transtar Holdings will be a 51% Equity Partner. Equity Purchase Agreement negotiations
are in the process of being completed.
LorAir as a certified ``supplemental charter air carrier'' under the Section 401 of the US Transportation Code,
services special contract requirements of various entities. LorAir has recently rendered flight service to the
US Bureau of Prisons, to transport prisoners as well as the US Forestry Service and several other fire-fighting
organizations. LorAir has also been requested on several occasions to sub-serve scheduled carriers when their aircraft
have been unavailable. Lorair has international charter rights and has flown contracts to and from Canada, Mexico
and the Caribbean area.
LorAir's operations have been relatively minimal for the past three years, its income being generated by contracts
with casinos, tour operators, and the federal government. Since the end of May, 1999, at which time its operations
specifications were approved by the FAA, after several years of processing its application, its income has been
substantially increased.
LorAir's current base of operations is located in Tucson Arizona, comprised of a 10-acre facility on the northwestern
corner of Tucson International Airport. The principal's plan on moving the base of operations from Tucson, Arizona
to Las Vegas, Nevada, to take advantage of the extreme passenger flight (``lift'') vacuum suffered by the hospitality
industry. Currently, negations with major hotel chains and tour companies are under way for institution of airline
service through LorAir.
More news on LorAir to follow.
SAFE HARBOR ACT DISCLAIMER: All statements contained herein are governed by the Safe Harbor Act Disclaimer.
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Contact:
Bordwell Financial Group, Orlando, Fla.
Angela Bordwell, 407/835-0141
Abordy@yahoo.com
or
Transtar Holdings, Inc., Fountain Valley
www.transholdings.com