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Slipstream Airways Adds New Cargo Division

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Los Angeles, CA - Monday, February 23, 2009 - Slipstream Virtual Airways is proud to announce the opening of its new air cargo division, Slipstream Global Logistics. Slipstream CEO Bobby Allison also announced that leading this new venture would be led by former Executive President Tyler Johnson. Effective today, Mr. Johnson has made the move to become General Manager, Slipstream Global Logistics. Flight operations are set to begin May 9th of this year.Los Angeles International Airport and Hartsfield-Jackson Atlanta International Airport will serve as the cargo hubs for Slipstream Global Logistics (SGL). Initial rumors were that the airline would choose a hub separate from their current passenger hubs, but that rumor was put to rest today with the public announcement. "With their [Los Angeles and Atlanta] coastal locations, proximity to maritime shipping, interstate system and railways, they are just an absolute logical choice for us," stated Mr. Johnson. "We already have an established presence and good standing with both airports. They have room for us, they want us there, and we want to be there."SGL will operate with a fleet of four Boeing 747-400F's, four McDonnell Douglas MD-11F's and one McDonnell Douglas MD-11C. The four Boeing 747-400F aircraft have been acquired through the Boeing Company, by taking advantage of an order cancellation from Philippine Airlines. After some minor conversions for SGL, deliveries of the four 747-400F's will run through April."Timing is everything in this business, and our timing has been great. Evolving plans have been on the table for some time now, and with acquisition attempts that fell through last year, it was great to see things really fall into place over the last few months. 2009 really looks to be our year." Mr. Johnson was speaking of the airline's acquisition of the MD-11 airframes through Sky Holdings(v). Plans had been in place for the 747-400F acquistion, but the desired MD-11F's seemed out of reach. Then in January 2009, the Italian airline Alitalia's cargo cargo division closed, and their five MD-11F's were returned to their lessor. All five aircraft were manufactured between 1991 and 1992 and delivered as MD-11C's to Alitalia, the only customer for that variant. In 2005 and 2006 they were converted to full freighters and operated by Alitalia Cargo before the closure. One MD-11F is currently undergoing conversion back to MD-11C standard per Slipstream's request. The MD-11C will be used for military passenger trunk routes to Ramstein Air Base, Germany and Kuwait International Airport from Atlanta, as well as special freight/passenger charter services.Current plans are to base two B747-400F's and two MD-11F's at each hub to operate regular freight routes. Routings have not yet been finalized, due to some negotiations just recently reaching their final stages for a few of the planned international airports. Mr. Johnson did mention that Europe and Asia will be major cargo destinations for the airline, due to major interest from new clients.MD-11C: Passenger Load: 410 (1 class) 214 (2 class) 181 (3 class) Cargo Load: 6 palletsEngine: (3x) General Electric CF6-80C2D1FMD-11F:Cargo Load: 26 palletsEngine: (3x) General Electric CF6-80C2D1FB744F:Cargo Load: 30 pallets (Main Deck), 32 LD-1 containers (Lower Deck)Engine: (4x) General Electric CF6-80C2B5FAbout Slipstream Virtual AirwaysHome officed in Los Angeles, California, Slipstream Airways commenced commercial operations in July 2006 with 3 Boeing 717-200's and 11 Boeing 737-700's. Slipstream's goal is to give pilots a realistic approach in a virtual world with an operational plan to grow like a real-world airline. Today Slipstream Airways currently operates hubs in Atlanta, Los Angeles and Chicago, and services 77 destinations across North and South America, Europe, Australia and Asia Pacific with a fleet of 142 Embraer and Boeing aircraft.

Questions about the above press release can be directed to: Public.Relations@SlipstreamAirways.com

http://www.slipstreamairways.com

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