Worldwide Perishables Canada signs purchase LOI for five FF5000 Freight Feeder aircraft

Freight Feeder Aircraft Corporation announced today it has entered into a Letter of Intent with Worldwide Perishables Canada Co. for the purchase of 2 (two) FF5000 Freight Feeder Aircraft, with an option to purchase an additional 3 (Three). Worldwide Perishables Canada, headquartered in Halifax, Nova Scotia is the first Canadian based customer to confirm its interest in acquiring FF5000 aircraft. This brings the total to 50 aircraft under LOIs with global customers for the FF5000 - valued at approximately $825 million in future orders for the Company.

Doug McRae, President of World Wide Perishables Canada Co., stated, "A fuel efficient, containerized aircraft with the range and lift of the FF5000 has the potential to revolutionize the regional air cargo market."

David Bridges, President and CEO of Freight Feeder Aircraft Corporation stated, "We are very pleased with Worldwide Perishables Canada's decision to enter into an LOI for FF5000 aircraft for its Canadian Freight Forwarding operations, and for its commitment in helping the FF5000 come to market in the Canadian, and global marketplace and are looking forward to a long-term mutually beneficial relationship with them as one of our valuable customers, as we continue to develop the FF5000 and bring it into production."

Officials of both Freight Feeder Aircraft Corporation and Worldwide Perishables Canada plan to meet after the first of the year to complete the final negotiations. The purchase order will become finalized upon 'first flight' of the FF5000 Prototype.