Yellowknife, NT, September 28, 2012 – Discovery Air Inc. (“Discovery Air”) announced today that the Government of Canada has extended Top Aces’ interim contracted airborne training services (“ICATS”) Standing Offers for a further three year term commencing in June 2013 and ending in June 2016.
Top Aces Inc., a wholly-owned subsidiary of Discovery Air, has been the exclusive supplier of “fast jet” (Type 1) and “business jet” (Type 2) airborne training services to the Canadian Forces through standing offers since 2005. The ICATS program supports Army Forward Air Controller training in close air support operations, and supports the Air Force and Navy in adversary support and live fire target practice. The program also includes an electronic warfare simulation capability supported by Department of National Defence Electronic Warfare Officers.
Didier Toussaint, President of Top Aces, stated “We are very pleased that Top Aces will continue to deliver its “Canadian solution” to the Canadian Forces. We have provided over 34,000 hours of combat support to the Canadian Forces over the past seven years while maintaining an exemplary flight safety record and a serviceability rate of over 98%. We have permanent bases of operations in six provinces, and have operated in every province and territory across Canada, as well as several locations in the U.S. Our high performance team consists of retired CF-18 pilots, who understand the training needs of the men and women of the Canadian Forces. We really believe that ‘Experience Matters,’ and this extension demonstrates that.”
Earlier this year, Public Works and Government Services Canada (“PWGSC”) commenced an industry consultation process in anticipation of the issuance of a solicitation for a long-term airborne training services contract. Top Aces intends to submit a proposal in response to any future solicitation issued by PWGSC for contracted airborne training services.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Public communications of Discovery Air and/or its subsidiaries may include written or oral forward-looking statements (as defined in applicable securities laws) regarding the future performance of Discovery Air and/ or its subsidiaries. Forward-looking statements by definition are based on assumptions and, as a result, are subject to risks and uncertainties, including those identified in the Management’s Discussion and Analysis section of Discovery Air’s financial statements, which are available at www.sedar.com. As a result of such risks and uncertainties, actual results may differ materially from those discussed in forward-looking statements, and readers should not place undue reliance on such statements. Forward-looking statements represent expectations as of the date they are made, and Discovery Air disclaims any intention or obligation to update or revise any forward-looking statements it may make, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
ABOUT DISCOVERY AIR AND ITS SUBSIDIARIES
Discovery Air is a Canadian specialty aviation company operating over 160 aircraft with approximately 850 team members. Its subsidiaries provide airborne training to the Canadian military; air ambulance services; airborne fire services; helicopter operations; fixed-wing air charter services; expediting and logistics support; and a range of maintenance, repair, overhaul, modification, engineering and certification services.
Discovery Air’s Class A common voting shares and unsecured convertible debentures trade on the Toronto Stock Exchange (symbols DA.A and DA.DB.A, respectively).
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