Toronto, ON, June 22, 2016 – Discovery Air Defence Services Inc., (DA Defence) a wholly owned subsidiary of Discovery Air Inc. announced today that its Standing Offers to provide interim Contracted Airborne Training Services (“ICATS”) to the Government of Canada has been extended until December 2017, with two additional six-month option periods.
DA Defence has been the exclusive supplier of “fast jet” (Type 1) and “business jet” (Type 2) airborne training services to the Canadian Armed Forces through these Standing Offers since 2005. The ICATS program supports live-fly Adversary, Joint Terminal Attack Controller training, Electronic Warfare and Electronic Attack training as well as live fire target practice.
“Our team of retired CF-18 pilots, maintenance technicians and staff are pleased to continue to deliver this service to the Canadian Armed Forces. With over 58,000 hours of combat support training delivered over the past eleven years, we have built unparalleled experience, have had an exemplary flight safety record, all while maintaining industry-leading service levels, including a 98%+ mission success rate. With the largest operating fleet of combat support aircraft in the world, and a footprint across Canada, the U.S., and Europe, DA Defence continues to proudly export Canadian expertise to the world,” stated Paul Bouchard, President of DA Defence.
In February 2016, DA Defence submitted a highly competitive, “true Canadian” solution that creates high quality jobs and investment across Canada as part of the Government of Canada’s Request for Proposal for the 10 year (plus option years) Contracted Airborne Training Services (CATS) program.
ABOUT DISCOVERY AIR AND ITS SUBSIDIARIES
Discovery Air is a global leader in specialty aviation services. We deliver exceptional air combat training, medevac equipped aircraft services, airborne fire services, air charter services, helicopter operations, and transport and logistics support to ensure operational readiness, health, safety, and vital lifelines for our clients and the communities we serve.
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).
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements (as defined in applicable securities laws) regarding 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. 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. For a more detailed discussion of forward-looking statements and the risks associated therewith, please refer to the statement regarding forward-looking statements contained in the Management’s Discussion and Analysis section of Discovery Air’s financial statements for the fiscal year ended January 31, 2016, which are available on Discovery Air’s web site at www.discoveryair.com and on SEDAR at www.sedar.com.
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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