Canadian Helicopters announces renewal of United States Transportation
Command contracts
Two contracts totalling revenues of approximately $26 million over five years
USTRANSCOM's decision was taken following a competitive bidding process pertaining to the services provided under each of the two contracts, in which Canadian Helicopters tendered proposals and actively participated. A total of four aircraft from the existing fleet of Canadian Helicopters will be used for the operations.
The Rotary Wing Bulk Fuel contract for the re-supply of fuel to the North Warning System radar sites represents revenues of approximately
The contracts are seasonal with various commencement dates in the spring and summer of 2010. The contracts are for a one-year base period with four one-year extensions at the option of USTRANSCOM, for a total of five years. They are denominated in Canadian dollars and comprised of hourly revenue components. A minimum number of hours per year are specified.
The prime contractor is the Canadian Commercial Corporation, Canada's international contracting agency, which focuses on government-to-government contracting and procurement.
"These agreements represent a continuation of our long term relationship with the U.S. military," said
ABOUT CANADIAN HELICOPTERS INCOME FUND
Through Canadian Helicopters Limited, Canadian Helicopters Income Fund is the largest helicopter transportation services company operating in
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements relating to the future of the contractual relationship between Canadian Helicopters and the U.S. military and expected revenues from the contracts. Such forward-looking statements are subject to certain risks and uncertainties, and actual results or events may differ materially. Consequently, readers should not place any undue reliance on such forward-looking statements. The forward-looking statements relate to the date on which they were made. Canadian Helicopters disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise unless being required by applicable laws.
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For further information: Canadian Helicopters Income Fund: Jean-Pierre Blais, President, (450) 452-3007; Don Wall, Senior Executive Vice-President, (780) 429-6919
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