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Great Slave Helicopters Completes Acquisition Of Northern Air Support By Bill Goldston |
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May 5, 2012 - Discovery Air Inc. (“Discovery Air”)
subsidiary, Great Slave Helicopters announced that it
has completed the acquisition of Northern Air Support.
The acquisition of Northern Airport Support’s assets was
financed, in part, by a new equipment loan facility that
was obtained primarily to finance this acquisition and
the purchase of additional aircraft to support future
growth.
The new facility, which has a limit of $15 million, is
secured by a first charge against the equipment
financed, a general security agreement in respect of all
present and after-acquired property as well as
guarantees from certain subsidiaries of Discovery Air. Discovery Air provides specialized aviation services through two operating segments: the Northern Services and the Government Services of Canada. The Discovery Air operating units provide both fixed-wing and rotary-wing services as well as logistics and remote operations management services. Discovery Air operates over 150 aircraft. |
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This includes cargo and passenger air charter services
throughout Canada, vital air ambulance services in the North and
utility flying for mining exploration. The Discovery Air
business units also provide specialized services to provincial
governments with forest fire detection and suppression as well
as providing airborne training and special mission services to
the Canadian Land Force Command, Maritime Command and Air
Command.
Discovery Air also provides a range of maintenance, repair and
overhaul solutions to airline customers through Discovery Air
Technical Services Inc., based in Quebec City. Headquartered in
Yellowknife, Northwest Territories and traded publicly on the
Toronto Stock Exchange (TSX) under the symbol DA.A, Discovery
Air's subsidiary companies have bases all across Canada.
Dave Jennings, President and CEO of Discovery Air stated “We are
very fortunate to have secured a company like Northern Air
Support. Their professional approach to operations and their
focus on safety is well aligned with the culture at Great Slave
Helicopters. We welcome Mark McGowan, Chief Operating Officer of
Northern Air Support, to the Discovery Air group and look
forward to working with his team in Kelowna, B.C. and Rocky
Mountain House, Alberta.”
The Northern Services segment consists of three operating units:
Great Slave Helicopters Limited ("GSHL"), Air Tindi Limited ("Tindi")
and Discovery Mining Services ("DMS.") Together, these three
operating units have a customer base servicing companies and
government entities in the business of mineral, base and
precious metal exploration and production, wildlife services,
forest fire suppression, oil and gas exploration, power line
construction and maintenance, aerial surveys, seismic, air
ambulance, scheduled charters and tourism.
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