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Discovery Air Bondholders Organize To Oppose Clairvest's Takeover Of Discovery Air Defense Services

2018-01-29 seekingalpha
A new venue, Discovery Air Debenture Holder's Forum, has been created to help protect the principal and interest of Discovery Air's debenture holders.

What Ulterior Motives Are Hidden In Clairvest's Recent Takeover Of Discovery Air Defense Services?

2018-01-17 seekingalpha
In the recent sale of Discovery Air Defense, we believe Clairvest breached Canadian regulations, covenants, and its fiduciary duty to stakeholders, booking a huge $55m MTM profit in 8 days.

BRIEF-Discovery Air Announces Extension Of Operating Credit Facility With CIBC

2017-12-15 reuters
* DISCOVERY AIR INC - EXTENDED ITS OPERATING CREDIT FACILITY WITH CANADIAN IMPERIAL BANK OF COMMERCE FOR A TERM ENDING JANUARY 31, 2019 Source text for Eikon: Further company coverage:

Discovery Air Inc. Announces Extension of Operating Credit Facility with CIBC

2017-12-15 marketwired
TORONTO, ONTARIO--(Marketwired - Dec. 15, 2017) - Discovery Air Inc. ("Discovery Air" or the "Corporation") (TSX:DA.DB.A) announced today that it has extended its operating credit facility with the Canadian Imperial Bank of Commerce (the "CIBC Operating Facility") for a term ending January 31, 2019 (which may be accelerated in certain circumstances).

Discovery Air Inc. Announces Securities Conversion

2017-12-15 marketwired
TORONTO, ONTARIO--(Marketwired - Dec. 14, 2017) - Discovery Air Inc. ("Discovery Air") (TSX:DA.DB.A) and Clairvest Group Inc. ("Clairvest") (TSX:CVG) announced today that affiliates of Clairvest have exercised (i) the pre-existing optional conversion feature pursuant to the terms of outstanding credit facilities between, among others, affiliates of Clairvest, Discovery Air and Discovery Air Defence Services Inc.

BRIEF-Discovery Air Qtrly Loss Per Share C$0.05

2017-12-12 reuters
* DISCOVERY AIR INC - QTRLY REVENUE C$42.6 MILLION VERSUS C$42.9 MILLION Source text for Eikon: Further company coverage:

BRIEF-Discovery Air Inc. Announces Credit Update

2017-12-01 reuters
* DISCOVERY AIR INC - EXTENDED ITS OPERATING CREDIT FACILITY WITH CANADIAN IMPERIAL BANK OF COMMERCE FOR A TERM ENDING JANUARY 31, 2018

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.