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Northeast Airlines (Pty) Limited. Swaziland adds Lockheed L1011-1 Tristar Aircraft and seeking capital for L1011 fleet expansion.

By Anonymous

NOVEMBER 4, 2002: Miami, Florida & Mbabane, Swaziland.

Northeast Airlines (Pty.) Limited of Swaziland (Est. March 2002) is pleased to confirm that last week it was granted an official ICAO airline code of NEY and radio call sign "NORTH JET".

In addition, Northeast Airlines just completed the acquisition of an ex-Delta/Tradewinds Lockheed L1011-1 Tristar passenger aircraft (Mfg. Serial Number 1096, US-FAA registry N310SS) equipped with (3) enviornmentally noise sensative Stage III Rolls-Royce RB211 fanjet engines. This aircraft has updated interior configured for 12 First Class and 320 Economy Class Seats with a state of the art inflight entertainment, Global Positioning Navigation and communications systems.

Northeast Airlines acquired its first wide-body aircraft via an interim finance facility provided by Sound Financial Corporation of Florida who is involved in a joint-venture with other aircraft aviation assets that are managed by the airline that include two DC-8-50FH cargo jets and two ex-TWA DC-9-32 passenger aircraft as well.

Northeast Airlines is negotiating with an airline 3 to 4 more longer-range L1011 TriStar variants that are planned to be put into service during December or the first quarter of 2003.

Northeast Airlines L1011 Tristar aircraft fleet and DC-8 cargo aircraft shall be target marketed to other airlines, tour operators and foreign governments to provide charter lift for chartering or wet-leasing to airlines, for the upcomming Umurah and Hajj pilgrimage, humanitarian flights and for special charters and emergency sub-service to the smaller scheduled IATA airlines based in Africa, The Middle East, Asia, Pacific Rim, Latin America or Eastern Europe. Due to current FAA regulations governing foreign air carriers in Africa there are no flight programes planned to the USA.

The company and its air carrier certificate ("AOC") are headquartered at the International Airport in Mbabane, The Kingdom of Swaziland (Southern Africa) with its international sales, marketing, crew training and asset management group based at Miami, Florida USA. Northeast has agent offices in Nigeria, Pakistan, United Arab Emirates, Amsterdam, Indonesia, Singapore and in Brazil and it is considering flight sub-charter or wet-lease programs from those areas.

The first L1011 aircraft should be airborne and entering service not later than November 30, 2002.

Northeast Airlines is led by Eric Paillet, who is President and Managing Director who has a professional, highly qualified and experienced team of aviation executives and airline operations personnel from the USA, Europe and Africa.

Northeast Airlines is seeking additional sources of bridge capital, joint-venture funding or equity investors to take advantage of very low prices on used airline transport aircraft and to rapidly expand its fleet to 5 aircraft in order to caputre market share and a tremendous void left post 9/11 globbaly as now there very few international charter airlines who offer wide-body aircraf to support second and third level airlines.


Fur Further Information Please Contact:
John Poindexter – Director of Leasing & Marketing
TEL: (305) 871-6327 or (305) 505-8806
jh.poindexter@neairlines.com
web: www.neairlines.com



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