Discovery Air will buy Air Tindi
Friday, June 23rd, 2006 - 1:19 pm
Discovery Air Inc. (”DA”) has announced an agreement to purchase Air Tindi in exchange for cash and newly issued shares of DA. It is expected that the acquisition will be completed in the fall of 2006.
Air Tindi operates a diversified fleet of 22 fixed wing aircraft offering scheduled and chartered passenger and cargo services, as well as air ambulance services, in Northern Canada. Its customers include, among others, major diamond and base metal exploration and mining companies and the Governments of Canada and the Northwest Territories. It typically employs over 180 people during the peak summer season.
Discovery Air has embarked on a drive to consolidate smaller, niche airlines in Canada. It purchased Great Slave Helicopters, in April 2006. (Source: Discovery Air press release)
