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                  U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                     --------------------------------

                                   FORM 10-QSB

                     --------------------------------


X    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

               For the quarterly period ended June 30, 2005


     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

                         For the transition period from

                          Commission File No. 000-31329

                             SERVICE AIR GROUP, INC.
     (Exact name of small business issuer as specified in its charter)


            New Jersey                                 22-3719171

    (State or other jurisdiction of         (I.R.S. Employer Identification No.)
     incorporation or organization)


          5455 Airport Road South, Richmond, B.C. Canada V7B 1B5
                 (Address of Principal Executive Offices)

                                 (604) 233-7727
                           (Issuer's telephone number)

                                 SEGWAY V CORP.
                     9175 Mainwaring Rd., Sidney BC V8L 1J9
      (Former name, address and fiscal year, if changed since last report)

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for
such shorter period that the issuer was required to file such reports), and
(2)has been subject to such filing requirements for the past 90 days. Yes No |_|

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
PRECEDING FIVE YEARS: Check whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13, or 15(d) of the Exchange Act
subsequent to the distribution of securities under a plan confirmed by a court.

Yes    No |_|

State the number of shares outstanding of each of the issuer's classes of common
equity, as of June 30, 2005: 9,375,000 shares of common stock.

<PAGE>





PART I-- FINANCIAL INFORMATION

     Item 1. Financial Statements

     Item 2. Management's Discussion and Analysis of Financial Condition

     Item 3. Control and Procedures

PART II-- OTHER INFORMATION

     Item 1. Legal Proceedings

     Item 2. Changes in Securities

     Item 3. Defaults Upon Senior Securities

     Item 4. Submission of Matters to a Vote of Security Holders

     Item 5. Other Information

     Item 6. Exhibits and Reports on Form 8-K

SIGNATURE

Item 1. Financial Information

BASIS OF PRESENTATION

The accompanying reviewed financial statements are presented in accordance with
generally accepted accounting principles for interim financial information and
the instructions to Form 10-QSB and item 310 under subpart A of Regulation S-B.
Accordingly, they do not include all of the information and footnotes required
by generally accepted accounting principles for complete financial statements.
In the opinion of management, all adjustments (consisting only of normal
occurring accruals) considered necessary in order to make the financial
statements not misleading, have been included. Operating results for the six
months ended June 30, 2005 are not necessarily indicative of results that may be
expected for the mid-year ending June 30, 2005. The financial statements are
presented on the accrual basis.


<PAGE>


                             SERVICE AIR GROUP, INC.
                         (a development stage company)

                          INTERIM FINANCIAL STATEMENTS

                                  JUNE 30, 2005








BALANCE SHEETF-1

INTERIM STATEMENTS OF OPERATIONS                           F-2

STATEMENT OF STOCKHOLDERS' EQUITY                          F-3

INTERIM STATEMENTS OF CASH FLOWS                           F-4

NOTES TO INTERIM FINANCIAL STATEMENTS                      F-5


<PAGE>



<TABLE>


                             SERVICE AIR GROUP, INC.

                                 BALANCE SHEETS
                    As of June 30, 2005 and December 31, 2004

<CAPTION>

                                                                       June 30, 2005      December 31, 2004
--------------------------------------------------------------- --------------------- ----------------------

                                     ASSETS
CURRENT ASSETS
<S>                                                                       <C>                     <C>
   Cash                                                                   $   34,447              $       -
   GST receivable                                                                956                      -
--------------------------------------------------------------- --------------------- ----------------------
   Total current assets                                                       35,403                      -
--------------------------------------------------------------- --------------------- ----------------------

OTHER CURRENT ASSETS
    Affiliated company receivable                                                  0                 12,746
--------------------------------------------------------------- --------------------- ----------------------

PROPERTY AND EQUIPMENT
    Equipment and office furniture                                            83,082                 83,082
    Less: Accumulated depreciation                                           (33,523)               (33,523)
    Leasehold improvements                                                    63,762                 63,762
    Less: Accumulated amortization                                           (21,504)               (21,504)
--------------------------------------------------------------- --------------------- ----------------------
    Total Property and Equipment                                              91,817                 91,817
--------------------------------------------------------------- --------------------- ----------------------

OTHER ASSETS
    Deposit                                                                    1,574                  1,574
    Aviation Policy and training manuals                                     134,698                134,698
    Licenses                                                                  43,372                 43,372
--------------------------------------------------------------- --------------------- ----------------------
     Total Other Assets                                                      179,644                179,644
--------------------------------------------------------------- --------------------- ----------------------

                                                                           $ 306,864               $284,207
=============================================================== ===================== ======================

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Accounts payable and accrued liabilities                               $   21,746              $   6,000
   Current portion of loan payable                                             7,190                      -
   Due to shareholders                                                       891,743                      -
--------------------------------------------------------------- --------------------- ----------------------
     Total Current Liabilities                                               920,679                  6,000
--------------------------------------------------------------- --------------------- ----------------------
LONG TERM LIABILITIES
    Loan payable                                                              16,379                      -
--------------------------------------------------------------- --------------------- ----------------------
     Total Liabilities                                                       938,164                  6,000
--------------------------------------------------------------- --------------------- ----------------------

MINORITY INTEREST                                                           (893,440)                     0
--------------------------------------------------------------- --------------------- ----------------------

STOCKHOLDERS' EQUITY (CAPITAL DEFICIENCY)
   Capital stock (Note 3)
       Preferred stock, $0.0001 par value, 20,000,000 shares
         Issued and outstanding are none                                           -                      -
       Common stock, $0.0001 par value, 100,000,000 shares
         Issued and outstanding are 9,375,000 and
         9,375,000 shares of common stock, respectively                          938                    938
   Additional paid in capital                                                310,060                310,060
   Deficit accumulated during development stage                              (48,028)               (32,791)
--------------------------------------------------------------- --------------------- ----------------------

                                                                             262,970                278,207
--------------------------------------------------------------- --------------------- ----------------------

                                                                          $  306,864              $ 284,207
=============================================================== ===================== ======================

</TABLE>


    The accompanying notes are an integral part of these financial statements

                                       F-1

<PAGE>

<TABLE>

                            SERVICE AIR GBROUP, INC.
                          (a development stage company)
                            STATEMENTS OF OPERATIONS
                For the six months ended June 30, 2005 and 2004,
            And from inception (March 31, 2000) through June 30, 2005



<CAPTION>

                                              Six Months Ended        From Inception
                                                   June 30,             To June 30,
                                              2005           2004          2005
--------------------------------------- -------------- -------------- ---------------


GENERAL AND ADMINISTRATIVE EXPENSES

<S>                                     <C>              <C>            <C>
   Office and general                   $     15,237     $      500     $  48,028
--------------------------------------- -------------- -------------- ---------------

NET LOSS FOR THE PERIOD                     $(15,237)    $     (500)    $ (48,028)
======================================= ============== ============== ===============




BASIC NET LOSS PER SHARE                $      (0.00)    $    (0.00)
======================================= ============== ==============


WEIGHTED AVERAGE
   COMMON SHARES OUTSTANDING               9,375,000      5,250,000
======================================= ============== ==============

</TABLE>



    The accompanying notes are an integral part of these financial statements

                                       F-2


<PAGE>

<TABLE>

                            SERVICE AIR GBROUP, INC.
                          (a development stage company)
                            STATEMENTS OF OPERATIONS
               For the three months ended June 30, 2005 and 2004,
            And from inception (March 31, 2000) through June 30, 2005


<CAPTION>


                                              Three Months Ended
                                                   June 30,
                                              2005           2004
--------------------------------------- -------------- --------------


GENERAL AND ADMINISTRATIVE EXPENSES

<S>                                         <C>          <C>
   Office and general                       $ 14,887     $      250
--------------------------------------- -------------- --------------

NET LOSS FOR THE PERIOD                     $(14,887)    $     (250)
======================================= ============== ==============

</TABLE>

<PAGE>

<TABLE>

                             SERVICE AIR GROUP, INC.
                          (a development stage company)
                        STATEMENT OF STOCKHOLDERS' EQUITY

         FOR THE PERIOD FROM MARCH 31, 2000 (INCEPTION) TO JUNE 30, 2005

<CAPTION>

                                                                                               Deficit
                                                          Common Stock                      Accumulated    Stockholders'
                                                      --------------------    Additional       During          Equity
                                                       Number of               Paid in       Development       (Capital
                                                       shares       Amount     Capital          Stage         Deficiency)
---------------------------------------------------------------- ------------ ------------- --------------- ----------------
<S>                                                   <C>             <C>       <C>             <C>              <C>
Common stock issued for cash at $0.0001 per share    5,000,000       $  500       $     -       $      -        $     500

Common stock issued for cash at $0.001 per share       250,000           25           225              -              250

Net loss for the period March 31, 2000
     (inception) to December 31, 2000                        -            -             -           (837)            (837)
--------------------------------------------------------------- ------------ ------------- --------------- ----------------

Balance, December 31, 2000                           5,250,000          525           225           (837)             (87)

Capital contributed by shareholders                          -            -           124              -              124

Net loss for the year                                        -            -             -           (926)            (926)
--------------------------------------------------------------- ------------ ------------- --------------- ----------------

Balance, December 31, 2001                           5,250,000          525           349         (1,763)            (889)

Capital contributed by shareholders                          -            -            76              -               76

Net loss for the year                                        -            -             -         (1,112)          (1,112)
--------------------------------------------------------------- ------------ ------------- --------------- ----------------

Balance, December 31, 2002                            5,250,000          525           425        (2,875)          (1,925)

Net loss for the year                                        -            -             -         (1,525)          (1,525)
--------------------------------------------------------------- ------------ ------------- --------------- ----------------

Balance, December 31, 2003                            5,250,000          525           425        (4,400)          (3,450)

Stock issued for the purchase of
  Assets and revenues of Service Air
  Group, Inc. of Canada for $0.08 per share           4,125,000          413       309,635                        310,048

Net loss for the year                                                                            (28,391)         (28,391)
--------------------------------------------------------------- ------------ ------------- --------------- ----------------

Balance, December  31, 2004                           9,375,000          938       310,060       (32,791)         278,207

Net loss for the period                                                                          (15,237)         (15,237)
--------------------------------------------------------------- ------------ ------------- --------------- ----------------

Balance, June 30, 2005                                9,375,000       $  938    $  310,060      $(48,028)        $ 262,970
=============================================================== ============ ============= =============== ================


</TABLE>

    The accompanying notes are an integral part of these financial statements

                                       F-3

<PAGE>

<TABLE>

                             SERVICE AIR GROUP, INC.
                          (a development stage company)
                            STATEMENTS OF CASH FLOWS
                For the six months ended June 30, 2005 and 2004,
            And from inception (March 31, 2000) through June 30, 2005


<CAPTION>

                                                                                                March 31, 2000
                                                    Six Months Ended     Six Months Ended       (inception) to
                                                     June 30, 2005         June 30, 2004         June 30, 2005
------------------------------------------------- -------------------- --------------------   ---------------------

CASH FLOWS FROM OPERATING ACTIVITIES

<S>                                                       <C>                   <C>                   <C>
  Net loss for the period                                 $   (15,237)          $     (500)           $    (48,028)
  Adjusted for items not involving cash:
     - Depreciation and Amortization                                0                    0                  25,841
     - Change in receivable                                      (956)                   0                    (956)
     - accounts payable                                        15,746                  500                  21,746
------------------------------------------------- -------------------- --------------------   ---------------------

NET CASH USED IN OPERATING ACTIVITIES                            (447)                   -                  (1,397)
------------------------------------------------- -------------------- --------------------   ---------------------

CASH FLOWS FROM FINANCING ACTIVITIES
  Cash received from shareholders                              34,894                   -                   34,894
  Proceeds on sale of common stock                                 -                    -                      750
  Shareholder capital contributions                                -                    -                      200
------------------------------------------------- -------------------- --------------------   ---------------------

NET CASH FLOWS FROM FINANCING ACTIVITIES                           -                    -                   35,844
------------------------------------------------- -------------------- --------------------   ---------------------

INCREASE (DECREASE) IN CASH                                        -                    -                        -

CASH, BEGINNING OF PERIOD                                          -                    -                        -
------------------------------------------------- -------------------- --------------------   ---------------------

CASH, END OF PERIOD                                       $    34,447          $        -            $      34,447
================================================= ==================== ====================   =====================

</TABLE>


    The accompanying notes are an integral part of these financial statements

                                       F-4


<PAGE>


                             SEVICE AIR GROUP, INC.
                          (a development stage company)
                        NOTES TO THE FINANCIAL STATEMENTS


================================================================================

NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION
--------------------------------------------------------------------------------

Organization:

Service Air Group, Inc. (the Company) was incorporated on March 31, 2000 in the
State of New Jersey. The Company's fiscal year end is December 31 with its
initial period being from March 31, 2000 to December 31, 2000. The Company was
formally known as Segway V Corp. and changed its name to Service Air Group, Inc.
on January 27, 2004.

Basis of presentation:

These financial statements are presented in United States dollars and have been
prepared in accordance with United States generally accepted accounting
principles.

Going concern:

The Company is in the initial development stage and has incurred losses since
inception. To date the Company has had no business operations and was organized
for the purpose of creating a corporate vehicle to locate and acquire an
operating business. The ability of the Company to continue as a going concern is
dependent on raising capital to acquire a business venture and ultimately to
attain profitable operations. Accordingly, these factors raise substantial doubt
as to the Company's ability to continue as a going concern.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
--------------------------------------------------------------------------------

Use of Estimates and Assumptions:

Preparation of the Company's financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect certain reported amounts and disclosures. Accordingly,
actual results could differ from those estimates.

Cash and Cash Equivalents:

The Company considers all liquid investments, with an original maturity of three
months or less when purchased, to be cash equivalents.

Property and equipment:

Property and equipment are stated at cost. Depreciation is computed using the
declining balance method over the estimated useful lives of the assets.
Expenditures for repairs and maintenance are charged to expense as incurred, as
are any items purchased which are below the Company's capitalization threshold
of $1,000.

For assets sold or otherwise disposed of, the cost and related accumulated
depreciation are removed from the accounts, and any related gain or loss is
reflected in income for the period.

Leasehold Improvements:

Leasehold improvements are being amortized on a straight line method over the
period of the lease term which is 5 years

Training Manuals:

The costs represent expenses for the development of manuals. Completion of the
manuals is expected during 2005. An amortization policy will be set at that
time.

License fees:

These costs represent license fees paid for the use of specific airplanes in
Canada. Upon legal filing and granting of all licenses and permits an
amortization policy will be established.

Fair Value of Financial Instruments:

In accordance with the requirements of SFAS No. 107, the Company has determined
the estimated fair value of financial instruments using available market
information and appropriate valuation methodologies. The fair value of financial
instruments classified as current assets or liabilities approximate carrying
value due to the short-term maturity of the instruments.

Net Loss per Common Share:

Basic earnings per share includes no dilution and is computed by dividing income
available to common stockholders by the weighted average number of common shares
outstanding for the period. Dilutive earnings per share reflects the potential
dilution of securities that could share in the earnings of the Company. Because
the Company does not have any potentially dilutive securities, the accompanying
presentation is only of basic loss per share.


                                       F-5
<PAGE>

                             SERVICE AIR GROUP, INC.

                        NOTES TO THE FINANCIAL STATEMENTS


================================================================================

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
--------------------------------------------------------------------------------

Income taxes:

The Company follows the liability method of accounting for income taxes. Under
this method, future tax assets and liabilities are recognized for the future tax
consequences attributable to differences between the financial statement
carrying amounts of existing assets and liabilities and their respective tax
balances. Future tax assets and liabilities are measured using enacted or
substantially enacted tax rates expected to apply to the taxable income in the
years in which those differences are expected to be recovered or settled. The
effect on future tax assets and liabilities of a change in tax rates is
recognized in income in the period that includes the date of enactment or
substantive enactment. As at December 31, 2004 the Company had net operating
loss carryforwards; however, due to the uncertainty of realization the Company
has provided a full valuation allowance for the deferred tax assets resulting
from these loss carryforwards.

Stock-Based Compensation:

The Company accounts for stock-based scompensation in respect to stock options
granted to employees and officers using the intrinsic value based method in
accordance with APB 25. Stock options granted to non-employees are accounted for
using the fair value method in accordance with SFAS No. 123. In addition, with
respect to stock options granted to employees, the Company provides pro-forma
information as required by SFAS No. 123 showing the results of applying the fair
value method using the Black-Scholes option pricing model.

The Company accounts for equity instruments issued in exchange for the receipt
of goods or services from other than employees in accordance with SFAS No. 123
and the conclusions reached by the Emerging Issues Task Force in Issue No.
96-18. Costs are measured at the estimated fair market value of the
consideration received or the estimated fair value of the equity instruments
issued, whichever is more reliably measurable. The value of equity instruments
issued for consideration other than employee services is determined on the
earliest of a performance commitment or completion of performance by the
provider of goods or services as defined by EITF 96-18.

The Company has also adopted the provisions of the Financial Accounting
Standards Board Interpretation No.44, Accounting for Certain Transactions
Involving Stock Compensation - An Interpretation of APB Opinion No. 25
("FIN
44"), which provides guidance as to certain applications of APB 25. FIN 44 is
generally effective July 1, 2000 with the exception of certain events occurring
after December 15, 1998.

NOTE 3 - CAPITAL STOCK
--------------------------------------------------------------------------------

The Company's capitalization is 100,000,000 shares of common stock with a par
value of $0.0001 per share and 20,000,000 shares of preferred stock with a par
value of $0.0001 per share.

The Company has 9,375,000 common shares issued and outstanding.

On September 8, 2004, the Company entered into an agreement with Service Air
Group, A Canadian corporation, whereby the Company issued 4,125,000 shares of
common stock for 100% of the Projected Net Income and 100% of the assets as of
February 9, 2004
On Service Air Group, Inc.'s financial statements. The value of the transaction
Was determined to be $310,048, or $0.08 per share. On April 29, 2005 the Company
into an amendment to the agreement whereby the Company received an interest in
Service Air Group, Inc of Canada in the form of 4,125,000 shares of restricted
class B non-voting common stock.

During the year ended December 31, 2002 the shareholders contributed an
additional $76 in capital (2001 - $124).

The Company has not granted any stock options and has not recorded any
stock-based compensation.

NOTE 5 - INCOME TAXES
--------------------------------------------------------------------------------

The Company has net operating loss carry-forwards which may be available to
offset future taxable income. Due to the uncertainty of realization of these
loss carry-forwards, a full valuation allowance has been provided for this
deferred tax asset. These net operating losses expire as follows:

Year

2020     $  837
2021        926
2022      1,112
2023      1,525
2024     28,391
           ------
   Total 32,791

Note 5 - CONTINGENT LIABILITIES AND RELATED PART DISCLOSURE
--------------------------------------------------------------------------------

The Company has entered into an arrangement with it's affiliated company as
described in note 3, Capital Stock. The stock issued represent a 44% holding
ownership of the affiliated company.

The company has an auto which is used as collateral for a loan established by
it's affiliated company. The loan calls for payment of $756 per month and will
expire during May of 2008.

The Company has a receivable from it's affiliated company in the amount of
$12,746.

                                       F-6

<PAGE>

Item 2. Management's Discussion and Analysis of Financial Conditions and Results
        of Operations

Plan of Operation
-----------------

The registrant plans to operate in the franchise industry.

Results of Operation
--------------------

The Company did not have material operating income from inception (March 31,
2000) through June 30, 2005 the registrant recognized a net loss of $48,028
which was made up of general and administrative expenses from inception.

The expenses for the six months ended June 30, 2005 were $15,237 as compared to
$500 of general and administrative expenses for the six months ended June 30,
2003. The expenses for the quarter ended June 30, 2005 were $14,887, as compared
to $250 for the quarter ended June 30, 2004. The increase in expenses are due to
the Company nearing its operations.

Item 3. Controls and Procedures
-------------------------------

(a) Evaluation of disclosure controls and procedures. Our Chief Executive
Officer and Chief Financial Officer (collectively the "Certifying Officers")
maintain a system of disclosure controls and procedures that is designed to
provide reasonable assurance that information, which is required to be
disclosed, is accumulated and communicated to management timely. Under the
supervision and with the participation of management, the Certifying Officers
evaluated the effectiveness of the design and operation of our disclosure
controls and procedures (as defined in Rule [13a-14(c)/15d-14(c)]under the
Exchange Act) within 90 days prior to the filing date of this report. Based upon
that evaluation, the Certifying Officers concluded that our disclosure controls
and procedures are effective in timely alerting them to material information
relative to our company required to be disclosed in our periodic filings with
the SEC.

(b) Changes in internal controls.
Our Certifying Officer has indicated that there were no significant changes in
our internal controls or other factors that could significantly affect such
controls subsequent to the date of his evaluation, and there were no such
control actions with regard to significant deficiencies and material weaknesses.

<PAGE>

                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 2. Changes in Securities.

None

Item 3. Defaults Upon Senior Securities.

None

Item 4. Submission of Matters to a Vote of Security Holders.

None

Item 5. Other Information.

None

Item 6. Exhibits and Reports of Form 8-K.

None

(a)  Exhibits

     33.1 Certification pursuant to Section 302 of Sarbanes Oxley Act of 2002

     33.2 Certification pursuant to Section 906 of Sarbanes Oxley Act of 2002

(b)  Reports of Form 8-K


     No reports on Form 8-K were filed during the quarter ended June 30, 2005.

                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                  SERVICE AIR GROUP, INC.

Date:   August 22, 2005          /s/ Jag Dhillon
                                 ---------------
                                     Jag Dhillon
                                     President, CEO and Director