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Discovery Air secures ‘Red Air’ training contract for Canada

2017-11-01 janes
Discovery Air has secured a 10-year deal to provide ‘Red Air’ training services to Canada under the Contracted Airborne Training Services (CATS) programme, the company announced on 31 October.

BRIEF-Discovery air defence awarded long-term contracted airborne training services contract

2017-10-31 reuters
* Discovery Air defence awarded long-term contracted airborne training services contract Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

New Positions, Promotions, Honors And Elections

2017-09-27 aviationweek
Erickson has hired Doug Kitani as chief executive officer/director. Most recently, Kitani had been CEO/director of global defense company IAP Worldwide Services.  Discovery Air has appointed Alan D. Torrie CEO of the special missions company. He succeeds Jacob Shavit, who remains on as an advisor.  Christopher J. Davis has been named president of Raytheon International. He succeeds Thomas A. Vecchiolla, who has retired.

BRIEF-Discovery Air quarterly revenue falls 17 pct

2017-09-14 reuters
* Discovery Air Inc qtrly ‍ diluted loss per share $ 0.03​ Source text for Eikon: Further company coverage:

BRIEF-Discovery Air says co was granted exemptive relief from formal valuation requirement

2017-08-02 reuters
* Discovery Air - ‍exemptive relief from formal valuation requirement in section 5.4 of mi 61-101 in connection with 3 previously announced transactions​ Source text for Eikon: Further company coverage:

Paris Air Show 2017: IAI looks to offload unsold Argentinean Kfirs to US 'Red Air' training companies

2017-06-20 janes
Israel Aerospace Industries (IAI) is looking to sell Kfir fighters that were earmarked for Argentina to United States-based private contractors for use as 'Red Air' training platforms, a senior company executive told Jane's on 20 June.

Discovery Air Announces New Revolving Credit Facility from Clairvest

2017-06-05 marketwired
TORONTO, ONTARIO--(Marketwired - June 5, 2017) - Discovery Air Inc. ("Discovery Air" or the "Corporation") (TSX:DA.A) announced today that its subsidiary, Discovery Air Defence Services Inc. ("DA Defence"), has entered into a subordinated credit agreement with certain funds or co-investors (such lenders, collectively "Clairvest") of Clairvest Group Inc., the controlling shareholder of the Corporation, providing for a revolving subordinated credit facility in the aggregate principal amount of up to $13,000,000 (the "Revolving Credit Facility").

Discovery Air Inc. and Clairvest Announce Completion of Going Private Transaction

2017-05-26 marketwired
TORONTO, ONTARIO--(Marketwired - May 26, 2017) - Discovery Air Inc. ("Discovery Air" or the "Corporation") (TSX:DA.A) and Clairvest Group Inc. ("Clairvest") (TSX:CVG) announced today the closing of the previously announced statutory plan of arrangement under section 192 of the Canada Business Corporations Act, pursuant to which, among other things, all of the common shares of the Corporation (the "Shares") were acquired by 10123200 Canada Inc.

Discovery Air Inc. Receives Court Approval for Going Private Transaction

2017-05-24 marketwired
TORONTO, ONTARIO--(Marketwired - May 24, 2017) - Discovery Air Inc. ("Discovery Air" or the "Corporation") (TSX:DA.A) is pleased to announce that the Ontario Superior Court of Justice (Commercial List) has issued a final order approving the previously announced statutory plan of arrangement under section 192 of the Canada Business Corporations Act, pursuant to which, among other things, all of the shares of the Corporation will be acquired by 10123200 Canada Inc.

BRIEF-Discovery Air appoints Drew Hickey as chair of audit committee

2017-05-01 reuters
* Discovery Air appoints Drew Hickey as chair of the audit committee Source text for Eikon: Further company coverage:

MAG Aerospace Acquires Discovery Air Fire Services

2017-04-17 prnewswire
WOODBRIDGE, Va., April 17, 2017 /PRNewswire/ -- MAG Aerospace (MAG) has acquired Discovery Air Fire Services Inc. (DAFS), formerly a subsidiary of Canada-based specialty aviation provider, Discovery Air Inc. This acquisition adds aerial forest fire management, specialized charter aviation, and environmental monitoring services to MAG's already robust ISR service offerings.

Discovery Air and Clairvest Enter Into Definitive Agreement for Going Private Transaction

2017-03-24 marketwired
Discovery Air Inc. ("Discovery Air" or the "Corporation") (TSX:DA.A) and Clairvest Group Inc. (TSX:CVG) announced today that the Corporation and certain funds managed by Clairvest Group Inc. (collectively "Clairvest") have entered into a definitive agreement (the "Arrangement Agreement") which will result in Clairvest, along with certain management shareholders of the Corporation (the "Rolling Shareholders" and, together with Clairvest, the "Purchaser Group"), acquiring all the issued and outstanding shares in the capital of the Corporation by way of a plan of arrangement (the "Arrangement") pursuant to the Canada Business Corporations Act.

Clairvest Update on Its Investment in Discovery Air Inc.

2017-03-08 marketwired
TORONTO, ON--(Marketwired - March 08, 2017) - In light of recent trading activity in the shares of Discovery Air Inc. (TSX: DA.A), Clairvest Group Inc. (TSX: CVG) announced today that certain investment funds managed by it, together with certain other parties (collectively, the "Purchaser Group"), have made a non-binding proposal to the board of directors of Discovery Air to acquire all of the common shares of Discovery Air not currently controlled by the Purchaser Group (the "Proposed Transaction").

Discovery Air Updates Market

2017-03-06 marketwired
TORONTO, ONTARIO--(Marketwired - March 6, 2017) - Discovery Air Inc. ("Discovery Air" or the "Company") (TSX:DA.A) announced, at the request of Market Surveillance on behalf of the TSX, that the Company has been approached on a preliminary basis regarding a potential corporate transaction. The Company has not received a binding proposal and is in discussions as to the viability of such potential transaction.

Discovery Air to trial Red Air training services for Australia

2017-03-06 janes
The Australian Defence Force (ADF) has contracted Discovery Air Defence Services Inc. (DA Defence) to provide 'Red Air' aggressor air training services for a two-year trial period, it was announced on 1 March.