Friday, December 12, 2001

World Airways set to reduce operating costs

Peachtree City's World Airways announced it is taking steps to address the likelihood of a continued weakened demand for passenger and cargo travel as a result of Sept. 11.

Due to the current global circumstances, World Airways plans to decrease operational expenses by parking three aircraft by Jan.1.

"In this environment of great uncertainty, we believe our most prudent course of action is to take immediate steps to address the issue of lower than expected demand and the resulting overcapacity in our fleet," said Chairman Hollis Harris.

The company also announced that it will not pursue bids to provide seasonal passenger services for the 2002 Hadj pilgrimage, due to the "potential risk to World Airlines employees."

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