FORT LAUDERDALE, Fla., June 10, 2014 (GLOBE NEWSWIRE) -- Basta Holdings Corp. (OTCBB:BSTA), an aviation services and logistics management company, today announced that Monarch Air Group has entered into a five year Basic Ordering Agreement (BOA) with the Defense Logistics Agency Energy department (DLA Energy) for the supply of jet fuel to various locations outside the continental United States.
Basta Holdings has an exclusive marketing and private jet charter agreement with Monarch Air Group, LLC. The terms of Monarch's BOA agreement with the United States DLA Energy department provides that Monarch will have the ability to bid on any commercial requests from the DLA Energy for "JA1" commercial jet fuel to be provided to OCONUS locations, which are outside of the continental US. Only companies that have signed a BOA agreement with the US government can compete for these contracts.
Basta Holdings' President, Jacob Gitman, commented, "Due to Basta's close working relationship with Monarch Air Group, we believe the Company is in a prime position to broker jet fuel services when DLA Energy puts out contracts that Monarch can now bid on via their BOA agreement. We believe that Monarch and Basta Holdings both have great potential to financially benefit from this five-year US government agreement."
About Basta Holdings Corp.
Basta Holdings Corp. provides contract procurement, business development and management services in the aviation and logistics industries. The company specializes in management of long-term ACMI leases of fixed wing and rotary passenger and cargo aircrafts and private business aviation, which includes charter, maintenance, overhaul and FBO development and management as well as various auxiliary services. For more information on the company, please visit www.bastaholdings.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. No past revenue or other performance can guarantee the same or better performance in the future. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
CONTACT: 888-959-7095 firstname.lastname@example.orgSource:Basta Holdings Corp.