December 16, 2015
Dubai, UAE, 16 December 2015 – Spot Reisen GMBH & Fuelstream, Inc. (OTC: FLST) ("Fuelstream" or the "Company") announced the signing of their strategic partnership which was materialized in the new Joint Venture Company SAFS-AVIA DWC headquartered in Dubai. The alliance will allow SAFS-AVIA DWC to offer increased aviation capabilities in regions of operation worldwide.
SAFS is expected to kick off in February 2016 with a combined bundle of services of the two parent companies that would deliver to the global aviation market a wide range of aviation related deliverables starting with flight permits, flight support, and commercial aircraft chartering for passengers, VIP jets & cargo, up to strategic aviation fuel supply.
"Strategic partnerships are an important component in our operating model. We've been seeking the right partner for some time now. This partnership allows us to expand our capabilities internationally with services that are increasingly in demand by our clients," said Kenneth I. Denos, CEO of Fuelstream.
The Managing Director of Spot Reisen GMBH, Roland Taylor was equally optimistic about the prospects of the partnership. "Spot Reisen part of Spot Group, is very pleased and looking forward to a very successful partnership with Fuelstream. The new SAFS-AVIA DWC recognizes that the aviation market is unique and requires significant depth of understanding. At the same time the market itself is evolving rapidly and much of the experience Spot Reisen has gained in other markets will be very useful as we take on larger and more complex projects."
Over a friendly ceremony celebrating signing the SAFS-AVIA shareholders agreement, the two partners have decided on selecting Mr. Roland Taylor, Mr. Kenneth I. Denos, Mr. Arthur Steyn & Mr. Ahmed Elhawary MBE as the directors of the new JV Dubai based company.
Left to right:
Arthur Steyn: VP Sales Africa, Europe and Middle East, Fuelstream.
Wade Mitchel: Managing Director, Fuelstream.
Kenneth Denos: CEO, Fuelstream.
Mohamed Hamed: CEO Spot Group.
Roland Taylor: Managing Director, Spot Reisen GMBH.
Ahmed Elhawary: Managing Director, Spot Reisen UAE.
Sadiqali Bohjani: Chairman SMB, Financial & Legal consultancy.
Fuelstream is an operating fuel logistics company that concentrates its supply chain management efforts in the distribution of aviation fuel to corporate, commercial, military, and privately-owned aircraft throughout the world. Currently, a majority of the Company's fuel and related services are concentrated in the sourcing, purchase and delivery of (Jet-A) fuel "into the wing" of private and commercial aircraft at various airports. With offices in Draper, Utah, Miami, Johannesburg, and Cape Town South Africa, the Company also supplies a variety of ground services either directly or through its affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals, and third-party invoice reconciliations. For more information please visit www.fuel-stream.com
Investor Relations/ Corporate and Media Contacts:
Safe Harbor and Forward-Looking Statements
This press release contains certain forward-looking statements regarding possible future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, any risks and uncertainties with respect to the Company's operations, as well as those contained in the Company's quarterly, annual, and periodic filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.