SOURCE: FuelStream, Inc.

June 21, 2012 08:45 ET

FuelStream Enters Into Fuel Logistics Joint Venture in South Africa With Global Airways

FuelStream to Expand Its Logistics Business Into Sub-Saharan Africa With Initial Uplift Service Contracts Averaging Up to 350,000 Gallons of Jet Fuel per Month

SUNRISE, FL--(Marketwire - Jun 21, 2012) - FuelStream (OTCQB: FLST) (PINKSHEETS: FLST) announced today that its subsidiary AFI South Africa, LLC has entered into an agreement to create a fuel logistics joint venture with South African based Global Airway ("Global"). Global is an international Air Transport Organization whose activities cover acquisition, refurbishment, heavy maintenance, leasing and chartering of aircrafts throughout South Africa. This transaction will expand FuelStream's international footprint in a market that is developing standardized systems to meet the aviation fueling needs of commercial and cargo carriers.

"We are excited to have the opportunity to partner with Global, a trusted premier aviation brand in Sub-Saharan Africa. We share a similar vision; the implementation of our logistics fuel supply program will provide a consistent and reliable delivery source to airline customers in the region. We anticipate a rapid rollout of our services and continued worldwide expansion" said Russell Adler, CEO of FuelStream. "Global's strength in MRO and Leasing combined with its base of regional and international airline carriers will serve as the foundation to develop a standardized fuel logistics model in a region that traditionally lagged behind many parts of the world."

The partnership underlines the company's strategic plan to generate new revenue streams by partnering with Aircraft Leasing and MRO businesses and includes the development, operation and management of the fuel storage, supply and logistic operations located in South Africa. It is anticipated that the partnership will oversee the logistics delivery of more than 3 Million gallons of Jet-A Fuel per month by the end of 2013. Through the first six months of this year, we have seen Jet fuel prices in the $3.00 to $4.00 per gallon range.

ABOUT FUELSTREAM, INC.

Fuel Stream, Inc., is an operating fuel logistics company that concentrates its supply chain management efforts in the distribution of aviation fuel to corporate, commercial, military, and privately-owned aircrafts throughout the world. Currently, a majority of the Company's fuel and related services are concentrated in the sourcing, purchase and delivery of (Jet-A) fuel "into the wing" of private and commercial aircrafts at airports. With offices in Sunrise, Florida and Johannesburg South Africa, the Company intends to supply a variety of ground services either directly or through our affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals, and third-party invoice reconciliations. For more information please visit www.thefuelstream.com or www.fuel-stream.com.

ABOUT GLOBAL AIRWAYS

Global Airways is an international Air Transport Organization whose activities cover acquisition, refurbishment, heavy maintenance, leasing and chartering of aircraft. Established in 2001, Global Airways has a fleet of 15 aircrafts comprising of McDonnell-Douglas DC9-32, DC10-10, MD-82 and DC10-30F (Freight) operating in Africa and Middle East. The Company's Maintenance and Operations Control Center are located at O.R. Tambo International Airport (Johannesburg, FAJS) in South Africa with offices in Hialeah Florida and Kuwait. For more information please visit www.g-airways.com

Safe Harbor and Forward Looking Statements

This press release contains forward-looking statements. Forward-looking statements are based on estimates, projections, beliefs and assumptions of management of the Company at the time of such statements and are not guarantees of future performance. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation, changes in interest rates, changes in the yield curve, changes in prepayment rates, the availability and terms of financing, changes in the market value of our assets, general economic conditions, market conditions, conditions in the market for agency securities, and legislative and regulatory changes that could adversely affect the business of the Company. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements, are included in the Company's periodic reports filed with the Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website, www.sec.gov. All written or oral forward-looking statements that the Company makes, or that are attributable to the Company, are qualified by this cautionary notice. The Company disclaims any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate.

Contact Information

  • CONTACT
    Russell B. Adler
    CEO
    Email: Email Contact

    Investor Relations:
    Mirador Consulting
    Casey Burt & Frank Benedetto
    561-989-3600