Chinese Government Agency Signs Historic Air Passenger Charter Contract With U.S.-Based Fauve Intertrade Corporation, Says Agra Holdings

A historic air charter contract was signed between Fauve Intertrade Corporation, a global airline management company based in the U.S., and China International Travel Air Limited (CITA), a subsidiary of China International Travel Services Holdings (CITS) to begin the operation of scheduled tourism charters to all of China's approved international tourism destinations.

Fauve Intertrade Corporation is a joint-venture company formed between Agra Holdings USA, LLC and Asia Aircraft Services with a capitalization of $1.5 billion in assets. "This contract is the first of its kind that will encompass China on a national basis and is expected to generate well over $1 billion in revenues over a three-year period," said Chung Leik Kok, CEO of Fauve Intertrade Corporation.

Fauve Intertrade Corporation maintains its management office in Durham, N.C. and will be opening offices in Beijing, Shanghai, Bangkok, Singapore, Kuala Lumpur and New York. China International Travel Air Limited was formed by China International Travel Service Holdings with the objective of establishing, developing, and maintaining a leadership role in China's outbound tourism business. They intend to control a major share of the market through the marketing of dedicated aviation projects.

Fauve has signed agreements and contracts enabling it to provide charter management and travel consulting services to the aviation/tourism trade industry in China and the Asia Pacific. Its international tourism charters will be on a scheduled basis from China to East and South East Asia, Australia, New Zealand, Europe, and in the near future, the United States.

Fauve has been positively acknowledged by the Chinese Government as an airline management consulting business organization with full linkage and operational interest in Asia. "At this time, Fauve is heavily negotiating with several major airline carriers. We will be scheduling a press conference with members from CITA, CITS, and U.S. government representatives, to be held in Washington, D.C. and Beijing, China in the coming weeks," said Oscar C. Fields, CEO of Agra Holdings USA, LLC.

Constant business growth is expected for the Fauve Intertrade Corporation China project. "We believe that the revenue potential and projected exponential business growth will catapult Fauve into a tremendous market position due to our strategic arrangements and experience in the Asian charter and tourism market," said Wayne Newman, COO of Agra Holdings.

The Asia-Pacific region has an estimated population base of 2-3 billion, of which approximately 35 percent will be air transport passengers by 2007 - estimating an average air traveling population of 875 million passengers in the near future. This project is scheduled to begin full operation within three months. "The frequency of flights can and will be increased in accordance with the forecasted growth in demands. The forecast for growth is a consistent 30 percent and above, annually, over the next five years," said Leik Kok.

"As a proud American company, our objective and ultimate goal is to work with a U.S.-based carrier to bring Chinese tourists into the United States and provide them with access to major U.S. tourist destinations," added Fields.

     
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   Agra Holdings USA, LLC 
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   Agra Holdings
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   USA
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   (919) 806-4826 (fax)
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