Great Slave Helicopters Completes Acquisition Of Northern Air Support


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Great Slave Helicopters Completes Acquisition Of Northern Air Support

By Bill Goldston

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 which was founded in 2004 operates primarily in Canada, through its five subsidiary companies. The company provides aviation and aviation related services.

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.

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.  

The Government Services segment consists of two operating units: Discovery Air Fire Services and Top Aces Incorporated ("TA"). These two operating units provide niche services primarily aimed at government entities.

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