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 March 31, 2006  o
        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
incorporation or organization)
        (I.R.S. Employer Identification No.)  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 March 31, 2006: 5,250,000 shares of common stock.       TABLE OF CONTENTS



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 March 31, 2006 are not necessarily indicative of results that may be expected for the mid-year ending June 30, 2006. The financial statements are presented on the accrual basis.















SERVICE AIR GROUP, INC.

(A Development Stage Company)



INTERIM FINANCIAL STATEMENTS



FOR THE THREE MONTHS ENDED MARCH 31, 2006



Stated in US Dollars



Prepared by Management



























Service Air Group, Inc.
(Development Stage Company)
        Statement 1Interim Balance SheetPrepared by managementUS Funds






ASSETS
        
        March 31, 2006
        
        December 31, 2005Property and equipment(Note 4)
        $
        910
        $
        984LIABILITIESLong-TermDue to SAG Canada(Note 6)
        $
        15,230
        $
        10,638Due to Shareholder(Note 6)
        
        18,955
        
        15,25034,185
        
        25,888Stockholders Deficit(Note 5)Common stock, $0.0001 par value, 100,000,000 sharesPreferred stock, $0.0001 par value, 20,000,000 sharesIssued and outstanding5,250,000 shares of common stock
        
        525
        
        525Additional paid in capital
        
        425
        
        425Deficit(Statement 2)
        
        (34,225)
        
        (25,854)(33,275)
        
        (24,904)$
        910
        $
        984





ON BEHALF OF THE BOARD:




, Director


, Director

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





Service Air Group, Inc.
(Development Stage Company)
        Statement 2Interim Statement of LossFor the Three Months Ended March 31,Prepared by managementUS Funds




2006
        
        2005
        
        From InceptionExpendituresAutomotive
        $
        5,177
        $
        -
        $
        9,995Depreciation
        
        74
        
        -
        
        248Filing and listing fees
        
        471
        
        400
        
        5,134Legal and professional
        
        2,649
        
        -
        
        18,8498,371
        
        400
        
        34,226Net Loss for the period
        $
        (8,371)
        $
        (400)
        $
        (34,226)Net Loss per share  basic and diluted
        
        (0.00)
        
        (0.00)
        
        (0.00)Weighted average number of shares outstanding
        
        5,250,000
        
        5,250,000
        
        5,250,000






Interim Statement of DeficitFor the Three Months Ended March 31,Prepared by managementUS Funds




2006
        
        2005
        
        From InceptionDeficit  Beginning of Period
        $
        (25,854)
        $
        (11,956)
        $
        -Net loss
        
        (8,371)
        
        (400)
        
        34,225Deficit  End of Period
        $
        (34,225)
        $
        (12,356)
        $
        34,225









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



Service Air Group, Inc.
(Development Stage Company)
        Statement 3Interim Statement of Stockholders DeficiencyPrepared by managementUS Funds






Common Stock
Shares                   Amount
        
        Additional Paid-in Capital
        
        Accumulated Deficit
        
        TotalInception, March 30, 2000
        -
        $
        -
        $
        -
        $
        -
        $
        -Stock issued for cash at $0.0001 per share
        5,000,000
        
        500
        
        -
        
        -
        
        500Stock issued for cash at $0.001 per share
        250,000
        
        25
        
        225
        
        -
        
        250Development stage net loss
        -
        
        -
        
        -
        
        (837)
        
        (837)Balance December 31, 2000
        5,250,000
        $
        525
        $
        225
        $
        (837)
        $
        (87)Capital contributed by shareholders
        -
        $
        -
        $
        124
        $
        -
        $
        124Development stage net loss
        -
        
        -
        
        -
        
        (926)
        
        (926)Balance December 31, 2001
        5,250,000
        $
        525
        $
        349
        $
        (1,763)
        $
        (889)Capital contributed by shareholders
        -
        $
        -
        $
        76
        $
        -
        $
        76Development stage net loss
        -
        
        -
        
        -
        
        (1,112)
        
        (1,112)Balance December 31, 2002
        5,250,000
        $
        525
        $
        425
        $
        (2,875)
        $
        (1,925)Development stage net loss
        -
        
        -
        
        -
        
        (1,525)
        
        (1,525)Balance December 31, 2003
        5,250,000
        $
        525
        $
        425
        $
        (4,400)
        $
        (3,450)Development stage net loss
        -
        
        -
        
        -
        
        (7,556)
        
        (7,556)Balance December 31, 2004
        5,250,000
        $
        525
        $
        425
        $
        (11,956)
        $
        (11,006)Development stage net loss
        -
        
        -
        
        -
        
        (13,898)
        
        (13,898)Balance December 31, 2005
        5,250,000
        $
        525
        $
        425
        $
        (25,854)
        $
        (24,904)Balance March 31, 2006
        5,250,000
        $
        525
        $
        425
        $
        (34,325)
        $
        (33,375)











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



Service Air Group, Inc.
(Development Stage Company)
        Statement 4Interim Statement of Cash FlowsFor the Three Months Ended March 31, 2006Prepared by managementUS Funds




2006
        
        2005
        
        Inception to
2005Cash flows from operating activitiesNet loss for the period
        $
        (8,371)
        $
        (400)
        $
        (25,855)Changes in working capital
        
        -
        
        -
        
        3,451(8,371)
        
        (400)
        
        (22,404)Cash flows from financing activitiesProceeds from sale of Common stock
        $
        -
        $
        -
        $
        750Shareholder capital contribution
        
        -
        
        -
        
        200Advances from related party
        
        8,371
        
        400
        
        22,438Cash flows from investing activitiesPurchase of equipment
        
        -
        
        -
        
        (984)Increase (Decrease) in Cash
        
        -
        
        -
        
        -Cash position  Beginning of period
        
        -
        
        -
        
        -Cash position  End of Period
        $
        -
        $
        -
        $
        -











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





Service Air Group, Inc.
(Development Stage Company)Notes to Interim Financial StatementsFor the Three Months Ended March 31, 2006Prepared by managementUS Funds




1.
        Organization and Going Concern

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



The Company is considered to be 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.



These financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business for the foreseeable future. As at March 31, 2006, , the Company has a loss from operations of $8,371, an accumulated deficit of $34,225 and a working capital deficiency of $33,275. The Company intends to fund operations through equity financing agreements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months.



Thereafter, the Company will be required to seek additional funds, either through debt and/or equity financing, to finance its long-term operations. The successful outcome of future activities cannot be determined at this time, and there has been no assurance that, if achieved, the Company will have sufficient funds to execute its intended business plan or generate positive operating results.



These factors, among others, raise substantial doubt about the Companys ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.






2.
        Significant Accounting Policies


a)
        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.




b)
        Foreign Currency Translation

The Companys functional and reporting currency is the U.S. dollar. All transactions initiated in other currencies are re-measured into the functional currency as follows:




i)
        Monetary assets and liabilities at the rate of exchange in effect at the balance sheet date,ii)
        Non-monetary assets and liabilities, and equity at historical rates, andiii)
        Revenue and expense items at the average rate of exchange prevailing during the period.

Gains and losses on re-measurement are included in determining net income for the period





Service Air Group, Inc.
(Development Stage Company)Notes to Interim Financial StatementsFor the Three Months Ended March 31, 2006Prepared by managementUS Funds






2.
        Significant Accounting Policies- Continued


c)
        Use of Estimates and Assumptions

Preparation of the Companys financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.




d)
        Cash and Cash Equivalent

The Company considers all liquid investments, with an original maturity of 90 days or less when purchased, to be cash equivalents.




e)
        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.




f)
        Capital Stock

Capital stock issued for non-monetary consideration is recorded at an amount based on fair market value as determined by the board of directors.




g)
        Loss per Share

Basic loss per share is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the year. The computation of diluted earnings per share assumes the conversion, exercise or contingent issuance of securities only when such conversion, exercise or issuance would have a dilutive effect on earnings per share.






3.
        Financial Instruments

The carrying values of the Companys financial instruments consisting of amounts due to related parties, materially approximate their respective fair values at each balance sheet date due to the immediate or short-term maturity of these instruments.







Service Air Group, Inc.
(Development Stage Company)Notes to Interim Financial StatementsFor the Three Months Ended March 31, 2006Prepared by managementUS Funds




4.
        Equipment




March 31, 2006
        
        December 31, 2005Cost
        
        Accumulated Depreciation
        
        Net
        
        Cost
        
        Accumulated Depreciation
        
        NetComputer Equipment
        $
        1,158
        $
        248
        $
        910
        $
        1,158
        $
        174
        $
        984








5.
        Capital Stock


a)
        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.


b)
        The Company has 5,250,000 common shares issued and outstanding.


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




6.
        Related Party Transactions

As of March 31, 2006 , the Company had owing to a director and officer payables in the amount of $34,185 (Dec 31, 2006 - $25,888). The director and officer have agreed to defer payment indefinitely and there are no interest terms.



The above transactions, occurring in the normal course of operations, are measured at the exchange amount, which is the amount or consideration established and agreed to by the related parties.









Service Air Group, Inc.
(Development Stage Company)Notes to Interim Financial StatementsFor the Three Months Ended March 31, 2006Prepared by managementUS Funds


7.
        Subsequent Events

On April 1, 2006, Service Air Group, Inc. Canada (SAGCA), a Canadian corporation, completed with the Company the reverse acquisition under a Stock Exchange Agreement (RTO) dated April 1, 2006 with a closing date set on or before April 15, 2006.



Pursuant to the agreement, the Company issued to SAGCA 4,125,000 shares in its common stock for 4,125,000 Class B non-voting common stock of SAGCA. Further to the agreement, the Company will receive 90% of the net income after tax from SAGCA as a dividend and agrees to provide US$4,975,000 in working capital and either lease or purchase an Aircraft at a minimum of US$10,000,000.



Immediately before the date of the RTO, the Company had 100,000,000 common stock and 20,000,000 preferred stock authorized, with 5,250,000 shares of common stock issued and outstanding, while no preferred stock was issued and outstanding. Pursuant to the RTO, an additional 4,125,000 shares of the Companys common stock were issued to SAGCA and 4,125,000 newly issued shares of class B non-voting common stock of SAGCA were issued to the Company. Immediately after the RTO, the management of SAGCA took control of the board and officer positions of the Company, constituting a change of control. Because the former owners of SAGCA gained control of the Company, the transaction would normally have been considered a purchase by the Company. However, since the Company was not a business, the transaction was not considered to be a business combination. Instead, the transaction was accounted
for as a recapitalization of SAGCA and the issuance of stock by the Company for the assets and liabilities of the Company. The value of the net assets of the Company acquired by SAGCA was the same as their historical book value, being $525.



On April 20, 2006, we issued a total of 98,000 new shares of our restricted stock and accepted private placement subscription agreements in an aggregated amount of USD$98,000 at $1.00 per share. 100% of the proceeds were invested into SAGCA to expand its ground fleet and operations.







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



Plan of Operation



The registrant plans to operate in the aviation industry as a commercial cargo airline with some ground operations (Trucking/Hauling) to break even its current operating expenses and pending income from our operating company. A comprehensive business plan was written and adopted by the management.



Results of Operation



The Company did not have material operating income from inception (March 31, 2000) through March 31, 2006 the registrant recognized a net loss of $34,225 and a working capital deficiency of $33,275 which was made up of general and administrative expenses from inception.



The expenses for the three months ended March 31, 2006 were $8,371 as compared to $400 of general and administrative expenses for the three months ended March 31, 2005. The increase in expenses are due to the Company nearing its operations.



Liquidity and Capital Resources



At March 31, 2006 the registrant held $910 in assets, property & Equipment. The Company will rely upon the issuance of common stock and additional capital contributions from shareholders to fund expenses pending income from its 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.

For the first quarter ending March 31, 2006, 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.





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


-none-

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:
        May 19, 2006
        /s/Mohammad SultanMohammad SultanCEO, CFO and Director