Manufacturing Industry
Universal Express pays deposit on Pacific Jet and Universal Jet purchase
Airline Industry Information, May 24, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Universal Express Inc (OTCBB: USXP) has paid an initial deposit towards the purchase of Pacific Jet and Universal Jet.
The airline said that it had paid an initial deposit on a USD2m down-payment towards a total USD21m overall purchase price for Pacific Jet and Universal Jet. The purchase was first announced on 11 January 2005.
Universal Express reportedly plans to combine Pacific Jet with Universal Jet and rename the airline.
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