A wholly-owned subsidiary of Global Aviation Holdings, World Airways was a major provider of long-haul passenger and cargo services in the United States, with clients including US Government departments, freight forwarders, airlines, tour operators and private parties. World Airways' operated MD-11, Boeing 747 and DC10-30 equipment.
Parent, Global Aviation Holdings had begun a restructuring effort in Nov-2013. The company had been seeking funding to help in this effort but was unable to secure the necessary financing to emerge from Chapter 11 Bankruptcy proceedings.
777 Partners, a US based investment firm, announced in Nov-2017 it acquired the intellectual property of World Airways and is planning to re-launch the carrier as an LCC long haul operation with widebody and narrowbody aircraft from 2019.
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