777 Partners, a US based investment firm, announced today that it has acquired the intellectual property of World Airways, Inc., the iconic US airline known for its worldwide operational capabilities, and is planning to re-launch World Airways ("World") as a low cost, long haul airline flying state of the art Boeing 787 Dreamliner aircraft. Initial funding for certification and aircraft acquisitions is being provided by 777 Partners. Discussions are underway with Boeing for an initial order for up to ten (10) 787-aircraft.
Ed Wegel, Founding CEO of World commented, "World has a rich and storied history dating back to 1947. It was once the world's largest independent charter airline, and served the US military and other clients with great distinction for many years.
"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."
Managing Partner of 777 Partners, Josh Wander, said, "777 Partners is humbled by the opportunity to participate in the relaunch of World, a seminal brand in the history of US commercial aviation. We are determined to pay proper homage to World's rich heritage by delivering a transformative flying experience rooted in safety, technology and service to the large segment of the traveling public historically priced out of international travel."
For more information about World Airways, visit worldairways.com or follow on twitter @worldairways and like on Facebook at facebook.com/flyworldairways.