World Re-Signs Leases for Aircraft

World Airways, a wholly owned subsidiary of World Air Holdings, signed leases for two MD-11 passenger aircraft in its fleet, with a third lease to be completed later this month. It's been a bit of musical chairs on the leases, as World Airways had to negotiate around the Delta Air Lines bankruptcy. World Airways subleased the three aircraft from Delta until the leases were rejected by Delta in bankruptcy court in September 2005; now it has new leases with the current owners. World Airways is a U.S.-certificated air carrier providing both passenger and cargo services. It operates a lot of flights for the United States military and international leisure tour operators. World operates a fleet of 17 wide-body aircraft.

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