Pointe Claire, QC November 21, 2011 – Top Aces, a wholly owned subsidiary of Discovery Air, announced today that its Interim Contracted Airborne Training Services (ICATS) Standing Offer arrangements have been extended by the Government of Canada for a 12 month period, taking the service delivery to June 2013.
Top Aces is the exclusive supplier of combat support airborne training services to the Canadian Forces. The ICATS program supports Army Forward Air Controller (FAC) 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 (DND) Electronic Warfare Officers (EWOs).
CEO of Discovery Air, Dave Jennings, commented “Our client, the Canadian Forces, values the service they are getting from Top Aces and have demonstrated this by exercising this option. Top Aces has built an experienced team and provides a safe and excellent service every day to the military since 2005.”
ABOUT DISCOVERY AIR AND ITS SUBSIDIARIES
Discovery Air Inc. is a Canadian specialty aviation company, operating over 140 aircraft with our 850 team members. We deliver airborne training to the Canadian military; airborne fire services; VFR 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 shares and debentures are listed on the Toronto Stock Exchange (Symbols DA.A and DA.DB respectively).
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Discovery Air’s public communications may include written or oral forward-looking statements (as defined in applicable securities laws) regarding the future performance of the company and/or its subsidiaries. Forward-looking statements by definition are based on assumptions and are as a result subject to risks and uncertainties, including those identified in the Management’s Discussion and Analysis section of Discovery Air’s financial statements for the fiscal year ended January 31, 2011, 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.
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