February 22, 2010
Yellowknife, NWT – February 22, 2010 – Discovery Air Inc. announced today that its Interim Contracted Airborne Training Services (ICATS) Type 2 Standing Offers have been extended by the Government of Canada for a further… one year period. This follows last week’s one-year extension of the ICATS Type 1 Standing Offers.
Top Aces, a wholly owned subsidiary of Discovery Air, is the prime supplier of Airborne Training Services to the Canadian Army, Navy and Air Force. In February 2006, the Government of Canada awarded two National Standing Offers to Top Aces to provide “business jet” (Type 2) airborne training services to the Canadian Forces. These Standing Offers were for a three year period, with two option years. The Government has exercised the second option year, extending this service until Feb 2011.
“We are very pleased with this further extension of our services,” commented Didier Toussaint, Top Aces President. “The extension of both Type 1 and Type 2 standing offers confirms that the outsourcing of airborne training services provides great value to the Canadian Forces. Our Aircraft Captains are experienced ex-Canadian Forces pilots who share the same ‘can-do’ attitude displayed by the Canadian Forces personnel with whom they work.”
Also as announced last week, Top Aces is continuing its review of the Government of Canada’s procurement plan for airborne training services beyond 2011 under a proposed new twenty year long term contract (10 years with two 5 year Government of Canada options) for both Type 1 (fast jet) and Type 2 services.
Top Aces is a wholly owned subsidiary of Discovery Air, a specialized aviation company that operates across Canada and around the world. With the second largest fleet in Canada, and over 500 employees Discovery Air offers fixed and rotary wing services as well as logistics and remote operations management. Discovery Air’s Class A common shares trade on the Toronto Stock Exchange under the symbol DA.A. The Company’s Debentures trade on the Toronto Stock Exchange under the symbol DA.DB.
For further information, please contact:
Rolf S. Dawson
Vice President, Corporate Finance and Administration
Rolf.Dawson@discoveryair.com (867) 444 0060
Vice President, Administration,
Top Aces Inc.
firstname.lastname@example.org (613) 227 5710