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Wed, Feb 19, 2020

Boeing Gets LOI For 30 747-8 Passenger Jets

Avatar Airlines Deal Could Be Worth Over $10 Billion To The Planemaker

On February 7, 2020, Boeing received a Letter of Intent from Avatar Airlines for the purchase of 30 new 747-8 passenger version aircraft. Although Boeing is fulfilling a number of sales of its 747-8F freighter, it had no new orders in 2019 for its passenger version. Avatar promises this order could save the legendary “Queen of the Skies” from extinction which otherwise appears to be inevitable.

On November 19th, Avatar filed for a 121 certificate with the FAA and the Department of Transportation for a Certificate of Public Convenience and Necessity for the authority to operate low-fare scheduled service to large major city pairs throughout the U.S. and Hawaii. Avatar will begin with 14 747-400s transitioning to the 747-8 which it considers to be the ideal aircraft to replace the 400s. Management believes the -8 will provide an increase in both passenger and freight capacity while operating at significantly lower costs adding to its net profits.

Instead of adorning the aircraft with first class lounges, piano bars and a decadent seating arrangement reminiscent of the 70's, Avatar plans to bring the 747 experience to the masses. With 539 economy seats on the lower deck and 42 business seats on the upper deck the company will harness the comfort, power, size and safety of the 747, enhancing the overall passenger experience that today's "low cost" carriers simply lack. Avatar’s economy fares are expected to be 50% less than other carriers.

"Boeing and Avatar can reinvent the 747 with its lowest cost per available seat mile into a gold standard for low-cost mass transportation bringing increased value to their shareholders and the public.” said Barry Michaels, Founder & CEO Avatar Airlines.

On February 19th, the Company will begin marketing twenty million shares of Series A Preferred stock under SEC Reg D 506c. I

(Image provided with Avatar Airlines news release)

FMI: www.avatarairlines.com

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