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Discovery Air’s Top Aces’ Standing Offers Extended

by NationTalk on January 28, 2011321 Views

Yellowknife, NT, January 27, 2011 – Discovery Air Inc. announced today that Top Aces’ Interim Contracted Airborne Training Services (ICATS) Standing Offer arrangements have been extended by the Government of Canada for a 16 month period, taking the service delivery to June 2012 with an option to extend for an additional 12 months to June 2013. Top Aces has also submitted a bid on the Government of Canada’s Contracted Airborne Training Services (CATS) procurement program, a replacement long-term airborne training services contract which covers a 20 year period, including a 10 year primary term with two 5 year extensions at the government’s option.Top Aces, 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 Offer arrangements during the past six years. 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).

The President of Top Aces, Didier Toussaint, commented, “As a fighter pilot with over 20 years of flying experience, I am very proud of the services our team delivers to the Canadian Forces. Top Aces is highly focussed on providing strong support to the military, and we have an outstanding team of pilots, engineers, maintenance, and support personnel in place to do so. This extension is a testament to the high quality of the services we have delivered over the past 6 years, our strong flight safety record, and our continuous improvement programs. We are pleased that we have been asked to continue working with the men and women of the Canadian Forces.”

ABOUT DISCOVERY AIR
Founded in 2004, Discovery Air Inc. is a specialty aviation services company operating across Canada and in select locations internationally. With over 140 aircraft, it is one of the largest air operators in Canada, employing 450 flight crew, maintainers and support staff to deliver a variety of air transport, maintenance and logistics solutions to a wide range of government, airline and business customers. The Company’s Government Services segment includes three subsidiaries: Top Aces, which delivers airborne training and special mission services to the Canadian military; Hicks & Lawrence, a supplier of airborne fire management services to the Ontario government and charter services to government agencies and corporate customers; and Discovery Air Technical Services, which provides a range of maintenance, repair and overhaul solutions to customers from its Quebec City location. The Company’s Northern Services segment also includes three subsidiaries: Great Slave Helicopters, the second-largest VFR helicopter operator in the country; Air Tindi, a fixed-wing aircraft charter provider operating throughout Northern Canada; and Discovery Mining Services, which constructs and rents all-weather exploration camps and provides expediting and logistics support services.

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, 2010, 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.

Discovery Air’s shares and debentures trade on the Toronto Stock Exchange (Symbols DA.A and DA.DB respectively).

For further information, please contact:

Investor Relations
Sheila Venman
Investor Relations
sheilavenman@discoveryair.com
Toll Free (866) 903 3247

Rolf S. Dawson
Vice President, Corporate Finance & Administration
rolf.dawson@discoveryair.com
(867) 873 5350, Extension 304

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