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CAL Cargo Airlines completes fleet upgrade

PRESS RELEASE

January 06, 2015: CAL Cargo Airlines, provider of specialized professional worldwide air cargo services, opened the New Year by announcing the much anticipated arrival of its second 747-400-ERF. This completes the upgrade of CAL's fleet to two nose loader, open door freighters.

"We have concluded our fleet enhancement and are proud to announce that both our new planes are now operational, closing out 2014 from a position of strength. The new planes enable us to extend our flight distance capability, fuel consumption and loading capacity, ultimately benefitting our customers. Our upgraded fleet is a long term, sustainable asset and we are excited to embark on 2015 with our new fully operational freighters," commented Offer Gilboa, owner and chairman of The CAL Group.

Cal Cargo AirlinesThe aircraft executed its first commercial flight just days ago. Built in 2007, it is an ERF model with GE engines. The transaction was managed by CAL's legal advisor, Osnat Issan, in conjunction with representation from Gottlieb, Gera, Engel & Co. Advocates. The non-equity portion of the aircraft acquisition has been financed by Q Aviation, as senior loan provider.

The upgraded fleet will reinforce CAL's specialization in non-standard cargo such as oversize and overweight products, dangerous goods, pharmaceuticals, perishables and live animals.

With these new freighters, CAL is able to fly non-stop from its Liege hub (LGG) to distant locations such as Latin America and Asia Pacific.

Established in 1976, the CAL Group proudly maintains three of expertise: (1) CAL Cargo Airlines- an all-cargo airline; (2) LACHS - Ground handling services in Liege cargo airport; (3) Trucking services throughout Europe and the USA. The CAL Group specializes in unique, complex and time and temperature sensitive cargo requirements such as pharmaceutical and healthcare products (CAL PHARMA), live animals (CAL LIVE), non-standard shipments (CAL BIG), dangerous goods (CAL DG) and perishables (CAL FRESH.)

Its main hub, located in Liege, (Belgium), provides immediate accessibility to all of Europe. Services include scheduled routes as well as ad-hoc and charter missions. CAL is a private company owned by Mr. Offer Gilboa as the controlling shareholder and Viola Credit Fund as a minority shareholder. It maintains offices worldwide as well as a strong network of GSA's.

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