AvStar Aviation Group, Inc. Announces the Forming of An Alliance to Serve the Florida-Caribbean Passenger and Freight Markets
HOUSTON, Dec. 12, 2011 /PRNewswire/ -- AvStar Aviation Group, Inc. (AvStar) (OTCQB: AAVG) today announced that its wholly owned subsidiary Twin Air Calypso Limited, Inc. (TACL) is forming an alliance with Berry Aviation, Inc. (Berry Aviation) of San Marcos, Texas. This alliance will make available to TACL larger aircraft with expanded capabilities. These aircraft would be used to increase both our freight and passenger services to the Bahamas as well as new destinations in the Caribbean Basin. Berry Aviation began operations in 1983 in Austin, Texas and currently operates 20 aircraft for a variety of customers including the United States Department of Defense throughout the U.S. and abroad.
"I am pleased to inform our customers and stockholders of this very significant event in the expansion of Twin Air Calypso. I look forward to the new and expanded opportunities this relationship can provide," stated Clayton Gamber, President of Twin Air Calypso Limited, Inc. and AvStar Aviation Group, Inc.
In other news:
DOT Commuter Authority – TACL expects to receive correspondence from the DOT the week of 12/12 concerning its Commuter Authority application. Further news will be released as it becomes available.
OFAC Cuban Authorities – TACL has received a letter from OFAC requesting clarification of some information. The request is routine and the additional information will be forwarded to OFAC on Monday December 12, 2011.
Convertible Notes - AvStar is pleased to announce that the last of the convertible notes held by Asher Enterprises have been retired.
Forward-Looking Statements: Certain statements contained in this release issued by AvStar Aviation Group, Inc. (the "Company") that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are statements regarding the intent, belief, or current expectations, estimates, or projections of the Company, its directors, or its officers about the Company and the industry in which it operates and are based on assumptions made by management. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.
Clayton I. Gamber Jr.
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