FractionAir an emerging leader in the fractional aircraft ownership industry, announced on Friday, August 19, 2005 that they have filed appropriate certificates to merge with Teda Travel, Inc., thus taking FractionAir Inc.‘s first steps to becoming a publicly traded company.
The Board of Directors of the Corporation has considered and unanimously approved a merger with a wholly-owned subsidiary of a public-reporting Florida corporation named Teda Travel, Inc. Teda Travel, Inc. will become FractionAir Holdings, Inc. FractionAir Inc. will remain a wholly-owned subsidiary of FractionAir Holdings, Inc. The officers and directors of FractionAir Inc. will be the same for FractionAir Holdings, Inc.
William P. Danielczyk, Chairman of FractionAir Holdings, Inc. stated, “We are pleased to have this opportunity to become a public company. Our employees and shareholders have worked together during the past year to achieve this status.”
The company will inform the shareholders and public of its progress through future announcements.