World Airways to fly cargo for Thai startup

World Airways to fly cargo for Thai startup    World Airways said it will provide an MD-11 freighter and operate it on behalf of Thai Air Cargo, the recently formed joint venture between Thai logistics provider CTI Group and Australia’s Qantas Airways, beginning in June. The freighter is scheduled to serve markets in Southeast Asia, China and Europe.
   The wet lease arrangement is valued at about $21.6 million for one year, with an option for a second year.
   World continues to land airlift contracts as it seeks to extend its string of eight profitable quarters in a row. World’s net income was $8.1 million in the fourth quarter. Earlier this week it announced a cargo service contract with Air Canada.