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, 2004

[ ]  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
incorporation or organization)                              Identification No.)

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

                                 (604) 722-2147
                           (Issuer's telephone number)

                                 SEQWAY 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 [x] 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 [X] No [ ]

State the number of shares outstanding of each of the issuer's classes of common
equity, as of June 30, 2004: 5,250,000 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, 2004 are not necessarily indicative of results that may be
expected for the year ending December 31, 2004. The financial statements are
presented on the accrual basis.

<PAGE>

                             SERVICE AIR GROUP, INC.

                          INTERIM FINANCIAL STATEMENTS

                                  JUNE 30, 2004

                                   (Unaudited)








BALANCE SHEET                                            F-2

INTERIM STATEMENTS OF OPERATIONS                         F-3

STATEMENT OF STOCKHOLDERS' EQUITY                        F-4

INTERIM STATEMENTS OF CASH FLOWS                         F-5

NOTES TO INTERIM FINANCIAL STATEMENTS                    F-6








                                       F-1

<PAGE>

                             SERVICE AIR GROUP, INC.

                                 BALANCE SHEETS

<TABLE>
<CAPTION>

                                                                      June 30, 2004        December 31, 2003
--------------------------------------------------------------- --------------------- ----------------------
                                                                        (unaudited)
                                     ASSETS
CURRENT ASSETS

<S>                                                                        <C>                    <C>
   Cash                                                                    $      -               $      -
--------------------------------------------------------------- --------------------- ----------------------

                                                                           $      -               $      -
=============================================================== ===================== ======================

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Accounts payable and accrued liabilities                                $  3,950               $  3,450
--------------------------------------------------------------- --------------------- ----------------------

                                                                              3,950                  3,450
--------------------------------------------------------------- --------------------- ----------------------

CONTINGENCIES (Note 1)

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 5,250,000 and
         5,250,000 shares of common stock, respectively                         525                    525
   Additional paid in capital                                                   425                    425
   Deficit accumulated during development stage                              (4,900)                (4,400)
--------------------------------------------------------------- --------------------- ----------------------

                                                                             (3,950)                (3,450)
--------------------------------------------------------------- --------------------- ----------------------

                                                                           $      -               $      -
=============================================================== ===================== ======================


</TABLE>





              The accompanying notes are an integral part of these
                          interim financial statements

                                       F-2


<PAGE>


                            SERVICE AIR GBROUP, INC.

                        INTERIM STATEMENTS OF OPERATIONS
                                   (unaudited)

<TABLE>
<CAPTION>

                                              Six Months Ended             Three Months Ended         March 31, 2000
                                                  June 30,                      June 30,              (inception) to
                                            2004           2003            2004           2003        June 30, 2004
--------------------------------------- -------------- -------------- --------------- --------------  -----------------
<S>                                       <C>            <C>            <C>             <C>                <C>
GENERAL AND ADMINISTRATIVE EXPENSES

   Office and general                     $      500     $      900     $       250     $      450         $   4,900
--------------------------------------- -------------- -------------- --------------- --------------  -----------------

NET LOSS FOR THE PERIOD                   $     (500)    $     (900)    $      (250)    $     (450)        $  (4,900)
======================================= ============== ============== =============== ==============  =================




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


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


</TABLE>


              The accompanying notes are an integral part of these
                          interim financial statements

                                       F-3


<PAGE>

                             SERVICE AIR GROUP, INC.

                        STATEMENT OF STOCKHOLDERS' EQUITY

         FOR THE PERIOD FROM MARCH 31, 2000 (INCEPTION) TO JUNE 30, 2004
                                   (unaudited)

<TABLE>
<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>             <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)

Net loss for the period                                                                             (500)            (500)
--------------------------------------------------------------- ------------ ------------- ---------------   ----------------

Balance, June 30, 2004                               5,250,000       $  525       $   425       $ (4,900)       $  (3,950)
=============================================================== ============ ============= ===============   ================

</TABLE>




              The accompanying notes are an integral part of these
                          interim financial statements

                                       F-4

<PAGE>



<PAGE>



                             SERVICE AIR GROUP, INC.

                        INTERIM STATEMENTS OF CASH FLOWS
                                   (unaudited)

<TABLE>
<CAPTION>



                                                                                               March 31, 2000
                                                   Six Months Ended     Six Months Ended       (inception) to
                                                     June 30, 2004        June 30, 2003        June 30, 2003
------------------------------------------------- -------------------- -------------------- ---------------------

CASH FLOWS FROM OPERATING ACTIVITIES

<S>                                                       <C>                  <C>                   <C>
  Net loss for the period                                 $     (500)          $     (450)           $   (4,900)
  Adjusted for item not involving cash:
    - accounts payable                                           500                  450                 3,950
------------------------------------------------- -------------------- -------------------- ---------------------

NET CASH USED IN OPERATING ACTIVITIES                              -                    -                  (950)
------------------------------------------------- -------------------- -------------------- ---------------------

CASH FLOWS FROM FINANCING ACTIVITIES
   Bank overdraft                                                  -                    -                     -
  Proceeds on sale of common stock                                 -                    -                   750
  Shareholder capital contributions                                -                    -                   200
------------------------------------------------- -------------------- -------------------- ---------------------

NET CASH FLOWS FROM FINANCING ACTIVITIES                           -                    -                   950
------------------------------------------------- -------------------- -------------------- ---------------------

INCREASE (DECREASE) IN CASH                                        -                    -                     -

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

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

</TABLE>






          The accompanying notes are an integral part of these interim
                              financial statements

                                       F-5


<PAGE>

                             SEVICE AIR GROUP, INC.

                      NOTES TO INTERIM FINANCIAL STATEMENTS

                                  JUNE 30, 2004

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

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.

The Company is in the initial development stage and has incurred losses since
inception totaling $4,900. 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.

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-6
<PAGE>

                             SERVICE AIR GROUP, INC.

                      NOTES TO INTERIM FINANCIAL STATEMENTS

                                  JUNE 30, 2004

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

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, 2002 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 5,250,00 common shares issued and outstanding.

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.

                                       F-7
<PAGE>

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

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

The Registrant is continuing its efforts to locate a merger Candidate for the
purpose of a merger. It is possible that the registrant will be successful in
locating such a merger candidate and closing such merger. However, if the
registrant cannot effect a non-cash acquisition, the registrant may have to
raise funds from a private offering of its securities under Rule 506 of
Regulation D. There is no assurance the registrant would obtain any such equity
funding.

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

The Company did not have any operating income from inception (March 31, 2000)
through Junw 30, 2004. For the quarter ended June 30, 2004, the registrant
recognized a net loss of $250. Some general and administrative expenses during
the quarter were accrued. Expenses for the quarter were comprised of costs
mainly associated with legal, accounting and office.

Liquidity and CapitRal Resources
--------------------------------

At June 30, 2004 the Company had no capital resources and will rely upon the
issuance of common stock and additional capital contributions from shareholders
to fund administrative expenses pending acquisition of an operating company.

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>

PLEASE UPDATE
                           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.

(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, 2004.

<PAGE>

                                   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:   July 22, 2004                   /s/ Mohammad Sultan
                                        --------------------------------
                                             Mohammad Sultan
                                             President and Director