CLEARWATER, Fla., July 14, 2003 (PRIMEZONE) -- SkyWay Communications Holding Corp. (OTCBB:SWYC) and it's wholly owned subsidiary, Sky Way Aircraft Inc., announced today that on June 20, 2003 they signed a Letter of Intent (LOI) with Airbase Services Inc. of Dallas Texas, an international supplier of maintenance and management services fro commercial and corporate aircraft that operates a network of eighteen repair stations and twenty-two line maintenance facilities in North America and Europe.
Terms of the LOT state that Sky Way Communications Holding Corp. and Airbase Services Inc. shall negotiate to enter into a service agreement pursuant to which Airbase Services shall be the preferred service provider with respect to the installation/removal, shop repair, warehousing and STC/PMA management of equipment from commercial and corporate aircraft as required in connection with the implementation of the Sky Way Communications systems.
Mr. Brent Kovar, President of Sky Way Communications Holding Corp. stated that, "As the former official installation/maintenance facility for the AT&T Airphone network, which Sky Way has recently acquired selected assets of, the Airbase engineers and technicians bring a wealth of knowledge, experience and familiarity to our system. Additionally Airbase enjoys an excellent relationship and reputation in the industry and currently is under contract with American and Delta Airlines. Our alliance with Airbase gives Sky Way immediate access to experienced and trusted personnel and an established installation/repair facility network."
About Sky Way Aircraft, Inc.
Sky Way Aircraft, Inc. is a Clearwater, Florida based company that is developing a unique ground to air in-flight aircraft communication network that it anticipates will facilitate homeland security and in-flight entertainment. Sky Way Aircraft is focused on bringing to the market a network supporting aircraft-related service including anti-terrorism support, real time in- flight surveillance and monitoring, WIFI access to the Internet, telephone service and enhanced entertainment service for commercial and private aircraft throughout the United States. Based on the final upgrading of a previous airborne telephone and communications network, Sky Way Aircraft intends to provide broadband connectivity between the ground and in-flight aircraft throughout the U.S. using technology that provides a broadband high-speed data transmission. Sky Way Aircraft intends to be the communications solution for commercial and private aircraft owners wanting real time access to on-board security systems, aircraft health and welfare monitoring, avionics operations and for passengers wanting real time high-speed access to the internet. Their network will enable applications that can personalize the in-flight entertainment experience, provide real time access to flight management avionics with long-term data storage and also support for ground monitoring of in-flight surveillance systems that are being designed with the goal of enhancing current airline security standards.
Forward-looking statements in the release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchanges Commission.
For more information about SkyWay Communications Holding Corp. please contact: Brent Kovar, President (727) 535 8211 OR ww.skywayaircraftsecurity.com