World Airways leases freighter to Saudi Airlines

World Airways leases freighter to Saudi Airlines    World Airways, a subsidiary of Global Aviation Holdings Inc., has reached an agreement with Saudi Airlines Cargo to operate a Boeing 747-400 freighter on a full-time basis beginning in June 2011.
   Under the agreement, World will provide capacity for the airline's expanding network in the Middle East, Africa and Europe.
   Saudi Airlines Cargo has operated 10 freighters and utilizes the belly capacity on 125 passenger aircraft of Saudi Arabian Airlines' global network of 225 destinations.
   Global Aviation Holdings Inc., based in Peachtree City, Ga., is the parent company of North American Airlines and World Airways. The company specializes in providing wet leases (which includes aircraft, crew, maintenance and insurance) of B747-400 and MD-11 freighter and passenger aircraft.