LGC Capital's travel business reports increase in business from new U.S. airline flights to Cuba

/Not For Distribution to U.S. News Wire Services or Dissemination In The United States/

Symbol: TSXV: QBA

MONTREAL, Sept. 8, 2016 /CNW Telbec/ - LGC Capital Ltd. (TSXV: QBA) ("LGC Capital") is pleased to announce that InCloud9 (IC9), its bespoke travel business, is already seeing an increase in U.S.-based travel to Cuba.  This is a result of the U.S. Department of Transportation's recent announcement that specific U.S. airlines are now able to fly scheduled commercial flights between the two countries.

On August 31, 2016, JetBlue was the first airline to fly a commercial flight from the U.S. to Cuba since 1961. American Airlines followed suit by beginning to offer direct commercial flights on September 7, 2016.

By the end of August, the U.S. Department of Transport had granted the following airlines access to Cuba from U.S. cities: Alaska Airlines, American Airlines, Delta Air Lines, Frontier Airlines, JetBlue Airways, Southwest Airlines, Spirit Airlines, and United Airlines. The airlines will offer direct flights to Cuba from Atlanta, Charlotte, Fort Lauderdale, Houston, Los Angeles, Miami, Newark, New York City, Orlando, and Tampa. (Refer to Reference Note 1 below).

LGC Capital Co-Chairman & CEO, David Lenigas commented, "The latest lifting of restrictions for commercial air travel between Cuba and the U.S. has seen a welcome boost to the Cuban travel sector and our bespoke travel company InCloud9 is seeing a rise in enquiries and travel between the two countries. InCloud9 is now in the process of expanding its staff in and out of Cuba to cater for the extra business."

Tourism to Cuba still isn't authorized for all U.S. citizens, but travelers can be approved under twelve sanctioned categories of travel. For those that qualify, InCloud9 is one of a handful of companies that has a Cuban government license for assisting foreign (including U.S.) clients flying in and out of Cuba on charter flights, private jets, and now from the newly-scheduled commercial flights.

The new U.S. approvals now also make air travel possible for non-U.S. nationalities to use charter or scheduled flights and connect in and out of Cuba making trips like Toronto - Miami - Cuba - MiamiToronto possible for the first time.

About InCloud9 (http://incloud9.com)

Embedded in Cuba for over 20 years, the Travelwelcome and InCloud9 group is a private company, that offers travellers tailored bespoke vacation packages to Cuba. Founder Toby Brocklehurst recognized an opportunity to facilitate tourism and business in Cuba, when government regulations often impeded travel for foreigners. InCloud9 is fully licenced and has a dedicated, local and experienced team who manage the day-to-day aspects of the business. InCloud9 specializes in creating bespoke itineraries for unique vacations, events and conferences in Cuba, as well as providing all backup, support and fixing services for film and video production. InCloud9 also provides Destination Management Solutions for tour operators looking to enable business in Cuba. LGC Capital owns 40% of InCloud9.

About LGC Capital (http://www.lgc-capital.com)

LGC Capital is uniquely positioned to take advantage of the lifting of the United States embargo of Cuba. LGC Capital has significant investments and joint ventures in international companies with Cuban ties, that are well positioned to grow with the Cuban economy. Sectors include the following: Oil and Gas, Sports Management, Consulting, Travel & Tourism, Events, TV & Film Production, Agricultural, Renewable Energy and Import & Export.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Reference Note 1: http://blogs.state.gov/stories/2016/08/31/historic-day-cuba-first-scheduled-flight-us-over-50-years-lands

 

SOURCE LGC Capital Ltd

For further information: Company & Media Contacts, Canada contact: Rafi Hazan, Secretary and Director, Tel.: (514) 839-7234; London Office contact: David Lenigas, Co-Chairman and Chief Executive Officer, Mazen Haddad, Co-Chairman, Anthony Samaha, Chief Financial Officer, Tel.: +44 (0) 20 7440 0640; Investor Relations Contact, Dave Burwell, The Howard Group Inc., Tel.: (403) 221-9015, Toll Free: 1-888-221-0915, Email: dave@howardgroupinc.com


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