World Airways Pilots Agreement

World Airways, Inc. today announced that it has reached a tentative
agreement with the International Brotherhood of Teamsters (IBT) for an
extension of the agreement covering World`s cockpit crewmembers who are
represented by the IBT.

The agreement, which became amendable July 1, 2003, will be extended three
years from January 1, 2004, and provides for work rule changes and wage
increases. The Company anticipates a thirty-day ratification period once
the crewmembers receive details of the agreement.

Hollis Harris, chairman and CEO, stated “We`ve built a strong relationship
with our pilots, and this has been a key component in the success of World
Airways. We were able to reach a fair and equitable agreement that met the
needs of the pilots and supported the financial goals for our company.
This is a testament to the strength of our relationship with our pilots.”

Utilizing a well-maintained fleet of international range, wide body
aircraft, World Airways has an enviable record of safety, reliability and
customer service spanning more than 55 years. The Company is a U.S.
certificated air carrier providing customized transportation services for
major international passenger and cargo carriers, the United States
military and international leisure tour operators. Recognized for its
modern aircraft, flexibility and ability to provide superior service,
World Airways meets the needs of businesses and governments around the
globe. For more information, visit the Company`s website at