Release Date: 22 August 2006
Release ID: 675
Universal Express, Inc. (OTCBB: USXP) announced it has acquired, as planned, the Miami International Airport (MIA) based Airport Alliance. Airport Alliance is a luggage delivery service catering to airlines with the need to transport found luggage that was once lost by airlines to its owners. Universal Express' acquisition of both Airport Alliance, with approximately 20% of MIA's lost luggage delivery, and Global Trucking, with 80% of MIA's lost luggage delivery, give Universal Express virtually 100% of the lost luggage business at MIA.
"The acquisition of Airport Alliance gives Luggage Express Found, formerly Global Trucking, the necessary volume to implement state of the art technology and provide USXP customer service quality to a much needed airline industry. The airline industry, with the its increasingly heightened security, has the enormous task of keeping their passengers happy amidst the new challenges presented to them with higher volumes of checked luggage, and ultimately an increase in lost luggage sales," said Richard Altomare, CEO and Chairman of Universal Express, Inc.
"This acquisition adds a 20% increase in revenue that can be handled with our current infrastructure making Luggage Express Found the largest baggage delivery company in South Florida, handling an average of 1,500 pieces of lost luggage a day and resulting in approximately $4,500,000 in gross sales," said Juan Gonzalez, president of Luggage Express Found.
Airlines that currently utilize Airport Alliance for lost luggage delivery that will now be part of Luggage Express Found's already impressive list are: Delta Airlines, British Airways, Air France, South African Airways, Freedom Airliners, Chautaugua, Com Air, American West, Continental, TACA, Iberia and Swiss Air.
"These revenues should be certified and added to Universal Express' balance sheet by September 1st, 2006," concluded Mr. Altomare.
© The Adora Group Limited 2018 - Publishers of Freightnet