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WanderPort Corporation: WanderPort Announces the Finalizing of an Agreement for the Acquisition of Development Rights for a Com

^{Published on 2008-12-08 10:22:05 - Market Wire}
 

NEW YORK, NY--(Marketwire - December 8, 2008) - WanderPort Corp. (PINKSHEETS: [ WDRP ]) announced today that after reviewing different offers on the table from firms such as JP Morgan, AIG and Lehman Brothers Holdings Inc., it is finalizing the purchase of AAAAA Air Travel, holder of an extensive agreement to acquire the rights to lease five hundred thousand square feet of land adjacent to the principal runway at Mirabel airport to construct an airplane servicing hangar capable of simultaneously accommodating two of the largest aircraft in general service today.

The contract is being concluded with the existing holder of the rights, AAAAA Air Travel, and Visa Services Inc. This company, better known as Five A ("Catch a falling airline"; Montreal Gazette, 24 November 1992), was one of the reasons Canadian Pacific Airways was able to keep on operating for ten years before finally being bought by Air Canada. Five A has since evolved into a consultant to companies undertaking major tourism or travel related undertakings, including the Vieux Quay project in Lyon, France, and the modernization of the airport in Tirana Albania. Acquisition of Five A by WanderPort will give the company the accumulated wisdom of eighteen years of service to these two fast growing areas.

Included in the agreement to lease will be control over an additional two million square feet of land to be developed as additional hangars are required. This is sufficient to build either four additional five hundred square foot hangars or three massive six hundred and fifty thousand square foot units capable of handling any larger aircraft currently on drawing boards for future production at this time. Most airlines will only acquire very few of these Super Jumbo aircraft making it more advantageous to contract out the overhaul and inspections rather than add another expensive facility to already overcrowded airports.

Forward-looking Statement:

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts.