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US Global to purchase Songbird Airways for $6.2 million

Posted: Fri Aug 18, 2017
by bimjim
https://www.midhudsonnews.com/News/2017 ... Jul17.html

US Global to purchase Songbird Airways, including a plane, for $6.2 million
25 July, 2017

NEW YORK

US Global Airways President Anthony Koulouris announced the startup airline will acquire Songbird Airways, Inc. of Florida to expedite its plans to commence flights from Stewart International Airport near Newburgh.

As a good-faith measure, US Global put a $1 million deposit down toward the $6.2 million purchase.

Songbird has the required FAA Part 121 certification and a Boeing 737-400 airplane that it has used for charter flights. Koulouris said he would hope to close on the airline acquisition on or before September 15 and start flights immediately. But, instead of planning to provide service to Europe and the Middle-East immediately, they will focus on the Caribbean islands “as well as various domestic and international charter opportunities,” he said in a letter to shareholders.

US Global also entered into an aircraft lease agreement with Kalitta Air, LLC to lease a Boeing 767-300ER. While that agreement was made in May and original plans were to take delivery no later than July 30 of this year, “we have made a business decision to delay delivery of this aircraft due to the Songbird acquisition.” He said it is their intention to bring the 767 online “sometime in 2018 and commence service to Europe and the Middle-East.”