Category: Canadian Aviation News

Tarmac Delays: Ministerial Decision is a Step in the Right Direction

Provided by Air Passenger Rights

Halifax, NS (May 21, 2019) – Air Passenger Rights (APR), Canada’s nonprofit advocacy group for air traveller rights, welcomes the direction issued by Transport Minister Marc Garneau to create regulations about the rights of passengers in the case of tarmac delays of less than 3 hours. The ministerial direction comes in the wake of public protest about the government’s proposed Air Passenger Protection Regulations.

In December 2018, the government announced its proposed air travel rules, which would allow airlines to keep passengers on an aircraft for more than 3 hours. This would be more than double the 90 minutes recommended by the Senate in March 2018.

In February 2019, APR published a 52-page report, identifying six other key areas where the proposed rules are fundamentally flawed.

  • No Denied Boarding Compensation: “Denied boarding” is defined so narrowly that most cases do not meet the criteria.
  • No Monetary Compensation for Flight Delays and Cancellations: The criteria for monetary compensation are impossible to meet, requiring passengers to present evidence that is in the airlines’ exclusive control.
  • No Automatic Compensation: Passengers will have to complain to the airlines within 120 days, or else they lose their rights.
  • No Meals or Hotel: Airlines will not have to provide meals and overnight accomodation in most cases of flight delays and cancellations.
  • Passengers on “Small” Carriers Have Less Rights: Passengers booked on “small” carriers, such as Flair or Swoop, will have even fewer rights.
  • Numerous Important Issues are not Addressed: Right to a refund of the unused portion of the ticket in cases “outside the carrier’s control” and “flight advancement” are not covered.

APR’s criticism came on the heels of a wave of public protest. More than 8,000 emails, demanding legislation that truly protects consumers, were sent in response to the government’s call for public input.

“The Minister’s decision is a step in the right direction,” said Dr. Gábor Lukács, APR’s founder and coordinator. “We are pleased that the Transport Minister has recognized that Canadians should not be kept on the tarmac for 3 hours or more. This is what we and the Senate have been saying all along.”

APR urges the government to implement all of APR’s 24 amendments to make the proposed rules more balanced, and fair to passengers.

APR’s complete report, entitled “Deficiencies of the Proposed Air Passenger Protection Regulations,” is available online.

Heroux-Devtek firms up landing gear supply agreement for Boeing’s F/A-18 program and expands scope to Boeing’s Advanced F-15 program, spare parts and services

Provided by Héroux-Devtek Inc./CNW

LONGUEUIL, QC, May 21, 2019 /CNW Telbec/ –  Héroux-Devtek Inc. (TSX: HRX) (“Héroux-Devtek” or the “Corporation”), a leading international manufacturer of aerospace products, today announced that it has concluded its previously announced agreement to supply the main landing gears for Boeing’s F/A-18E/F Super Hornet and EA-18G Growler and has extended the scope of the agreement to include the manufacturing of the nose and main landing gears for Boeing’s Advanced F-15 program. The extended scope will also include the supply of spare parts and aftermarket services for both defense aircraft programs and covers a period of performance of five years.

The original supply agreement, announced during the Farnborough Airshow on July 17, 2018, provided for the manufacture and assembly of main landing gears and side braces for Boeing’s F/A-18E/F Super Hornet and EA-18G Growler, with first deliveries in the third quarter of 2020. This extended “Indefinite Delivery / Indefinite Quantity” scope now also includes the delivery of spare parts and aftermarket services for these landing gears. Additionally, the agreement has been extended to include the manufacture and assembly of the nose and main landing gears for Boeing’s F-15 fighter jets, including spare parts and aftermarket services. First deliveries are expected to occur towards the beginning of 2023. 

“This contract award represents a significant win for Héroux-Devtek. Becoming a key system manufacturer for two additional main defense aircraft programs for Boeing is a testament to the strength of our long-standing relationship with the world’s largest aerospace company,” said Gilles Labbé, President & CEO of Héroux-Devtek. “We are also excited to expand the scope of our original contract to include spare-parts and aftermarket services, which allows us to add further value to our business.”

“As we celebrate our one-hundred-year partnership with Canada, it is through contracts like this that we can continue that legacy for the foreseeable future,” said Roger Schallom, Boeing senior manager, Canada, International Strategic Partnerships. “Over the past year, Héroux-Devtek Inc. has demonstrated that they have the experience and capability to deliver quality parts and services that our F/A-18E/F and E/A-18G customers depend on, which has led to this extended scope to include our F-15 program.”

This agreement, including the expanded scope, can satisfy current and future Industrial and Technological Benefits obligations to include the Canada’s Future Fighter Capability Project, for which Boeing’s F/A-18 Super Hornet Block III is a competitor.

IBS Software to Acquire Canadian Aviation Software Major

Provided by IBS Software (IBS)/PRNewswire

MONTREAL, May 19, 2019 /PRNewswire/ — Travel technology specialist IBS Software (IBS) has entered into a definitive agreement with Massachusetts-based Kronos Incorporated to acquire AD OPT, a market leader in aviation software that provides crew management solutions to some of the biggest names in the global airline industry. AD OPT (www.ad-opt.com), founded in 1987 in Montreal by a group of mathematicians and operations research experts, was acquired in 2004 by Kronos, a multi-national workforce management software and services company employing nearly 6,000 professionals worldwide. The cutting-edge crew planning and optimization platform of AD OPT currently powers some of the top airlines in the world including Air Canada, EasyJet, Emirates, FedEx, Garuda, Lion Air, and Qantas. The multi-million dollar acquisition is an integral part of IBS’ growth strategy to become the leading technology provider to the airline industry worldwide. Prior to this, IBS has made six strategic acquisitions – three in the USA, two in Europe, one in India – in its 21-year history.

IBS Software to Acquire Canadian Aviation Software Major (PRNewsfoto/IBS Software (IBS))
IBS Software to Acquire Canadian Aviation Software Major (PRNewsfoto/IBS Software (IBS))

IBS is a specialist in aviation software, supporting flight operations of large airlines including British Airways, KLM and Emirates. This landmark acquisition will help IBS leverage AD OPT’s deep domain expertise to provide the most advanced, end-to-end, integrated digital solution for the highly complex task of flight and crew management. The coming together of the assets, expertise and capabilities of IBS and AD OPT will bring to the market a state-of-the-art, holistic software for crew planning, pairing, rostering, optimizing, tracking and managing the entire operations of large and complex network carriers. The acquisition of AD OPT will add more than 20 airline customers to IBS, significantly widen IBS’ footprint in North America, boost IBS’ go-to-market capabilities and enhance IBS’ addressable market. The move will also deepen IBS’ managerial bandwidth by bringing into its fold AD OPT’s team of highly skilled subject matter experts, some with more than 25 years of airline operations experience.

AD OPT is a widely recognized name for over 30 years in the global aviation industry for digital innovation, and its progressive crew optimization technology helps airlines assign cockpit and cabin crew to the flights in the most optimal manner to achieve operational efficiency, maintain full regulatory compliance, reduce operational costs and at the same time improve quality of life of the crew. In 2015, AD OPT was awarded the prestigious CORS Omond Solandt award in recognition of ‘substantial contribution to operational research in Canada’. Post the acquisition, IBS will take over the office of AD OPT in Montreal and evolve it into a modern Centre of Excellence dedicated to crew optimization technology. An aggressive R&D investment strategy is envisaged to make the solution a market leader in fleet and crew management, helping clients innovate at speed and execute at scale.

“IBS represents a well-established and logical acquirer of AD OPT – a game-changing combination which will bring meaningful expertise and complementary benefits to employees and customers of both organizations. AD OPT employees will be joining a thriving company dedicated to the travel industry. Customers will also benefit from IBS’ and AD OPT’s shared commitment and passion for innovation. Even though we plan to transition the AD OPT division to IBS, Kronos will continue to provide airlines with world-class solutions for workforce management and human capital management,” said Bob Hughes, Chief Customer and Strategy Officer, Kronos.

“Acquisition of world-class travel technology companies has been a deliberate strategy of IBS to fulfill its commitment to the aviation industry. AD OPT offers a sophisticated suite of airline crew planning and optimization products, a sizeable customer base and a highly experienced team of professionals. The coming together of IBS and AD OPT is, therefore, extremely relevant for the industry as it enables us to create the most advanced digital platform, delivering a holistic solution for flight operations and crew management. We will continue to pursue our inorganic growth strategy to expand our solutions landscape and deliver outstanding value to our customers,” said VK Mathews, Executive Chairman, IBS Group.

Aéro Montréal 2019 Annual General Meeting

Provided by Aéro Montréal/CNW

MONTRÉAL, May 17, 2019 /CNW Telbec/ – Aéro Montréal, Quebec’s aerospace cluster, today announced excellent results for 2018 during its annual general meeting, held at MILA Québec, the new artificial intelligence campus. The meeting brought together some 150 senior leaders from Quebec’s aerospace industry.

A new strategic plan that focuses on the convergence of knowledge

To remain competitive, our SMEs have to invest in innovation. Our role is to support them in this process. Digital transformation and, more specifically, artificial intelligence, constitute a set of technologies that can no longer be neglected and which must quickly be integrated into the manufacturing processes of our entrepreneurs.

“With this in mind, we adopted a new 2019-2022 strategic plan, developed with our corporate members and industry experts,” says Suzanne M. Benoît, President of Aéro Montréal. “The success of the aerospace cluster depends on greater convergence with sectors related to ours, including artificial intelligence (AI). We must take advantage of the opportunity Montréal provides in terms of having a network of companies, researchers and research institutes that are advanced in AI to create synergies with our companies and thus offer ever more innovative solutions.”

The 4.0 revolution has the potential to generate new economic value. Productivity and quality gains, as well as adapting to new customer needs will be achieved thanks to the new methods resulting from 4.0. “The aerospace industry, which is an industry where innovation is a constant and which has the highest standards of quality and regulatory requirements in the world, must move more rapidly in shifting to 4.0,” says Ms. Benoît.

With its new vision of becoming the most innovative cluster in the world, Aéro Montréal is looking to the future with optimism, confident that Québec’s aerospace industry will maintain its place at the forefront of international aerospace capitals.

2018 Highlights:

  • The MACH FAB 4.0 Initiative was launched in 2017 and aims to implement digital technologies and advanced manufacturing in participating SMEs. In 2018, two calls for projects for MACH FAB 4.0 were launched and 15 additional companies were recruited. In addition, Aéro Montréal worked with Hamburg Aviation to develop a new maturity scale for digital technologies that will enhance the features of this program.
  • Two new initiatives were launched in 2018 to propel our SMEs into new markets:
    • Accélérateuror360˚: This initiative is designed to support growth and foster collaboration among SMEs in international markets by assisting commercialization within global supply chains.
    • StartAéro360˚: This initiative’s goal is to support Québec aerospace technology SMEs in the pre-commercialization phase of their innovative products.
  • We hold in 2018 the sixth edition of the Aerospace Innovation Forum during International Aerospace Week – Montréal. More than 1,000 Canadian and international aerospace decision-makers participated in this event held under the theme “Aerospace in the era of disruptive technologies.”
  • Two new committees – Unmanned Aerial Vehicles and MROs – were established. These working committees underscore the importance of these sectors to Québec. Our SMEs need to position themselves now to diversify their offerings in these emerging markets.
  • In the next 10 years, nearly 37,000 positions will have to be filled. In 2018, the Rise to the Future campaign enabled Aéro Montréal and its partners to launch public relations and media relations initiatives, as well as develop communication tools to reach young people and encourage them to focus on careers in aerospace. Following the various campaigns, participation nearly doubled at open doors events at the École nationale d’aérotechnique and the École des métiers de l’aérospatiale de Montréal.
  • Our recruitment tool, the AéroPortail, was leveraged as part of the recruitment campaign with the development of a careers section where companies can submit their job postings. To date, the AéroPortail has posted nearly 900 jobs.
  • In 2018, APN received the Aerospace SME of the Year grand prize at the 2018 Gilles-Demers Awards. Every two years, the Gilles-Demers Awards recognize aerospace SMEs who have distinguished themselves in various categories.

All these actions were made possible thanks to the tremendous involvement of industry members in the various working groups and committees and the financial support of the three levels of government as well as our institutional partners. This involvement represents more than 490 hours of work for an estimated total of nearly $1 million worth of in-kind contributions.

About Aéro Montréal
Created in 2006, Aéro Montréal is a strategic think tank that groups all major decision makers in Québec’s aerospace sector, including companies, educational and research institutions, as well as associations and unions.

The activities of Aéro Montréal are made possible thanks to the participation of the governments of Québec and Canada, the Montréal Metropolitan Community, as well as  company members of the cluster.

SOURCE Aéro Montréal

Transat AT Inc. announces execution of exclusivity agreement with Air Canada for the acquisition of Transat AT Inc

Provided by Transat A.T. Inc/CNW

MONTREAL, May 16, 2019 /CNW Telbec/ – Transat AT Inc. (“Transat”) announces that it has agreed to a 30-day period of exclusive negotiations with Air Canada pursuant to a letter of intent contemplating a transaction by which Air Canada would acquire all of the shares of Transat at a price of $13.00 per share. During such exclusivity period, it is contemplated that Air Canada will complete its due diligence review and the parties will finalize the negotiation of a definitive agreement regarding this transaction, the material terms of which are announced today.

“This announcement is good news for Transat”, said Jean-Marc Eustache, President and Chief Executive Officer of Transat. “This is an opportunity to team up with a great company that knows and understands our industry and has had undisputable success in the travel business. This represents the best prospect for not only maintaining, but growing over the long term the business and jobs that Transat has been developing in Quebec and elsewhere for more than 30 years.”

Transat would like to point out that its operations continue in the normal course and that there will be no change for its clients, suppliers and employees. In particular, travellers and clients of Transat can continue to travel and book their vacation packages with Transat like before.

Context of the Announcement

The Board of Directors of Transat has agreed to the exclusivity agreement based on a unanimous recommendation from a special committee of independent directors that was charged with examining any proposals for the acquisition of the shares of Transat, with the assistance of financial and legal advisors, and with considering all strategic options, as was announced on April 30, 2019. After being solicited by several parties and having considered available alternatives, the Board of Directors has determined that it is now in the interests of Transat and its stakeholders to finalize negotiations on an exclusive basis with Air Canada with a view to completing the transaction. In its recommendation, the special committee considered many factors, including the interests of the Corporation and its stakeholders, the economic and regulatory environment in which Transat operates, the proposed price of $13.00 per share, which represents a premium of 148.5% over the 20-day weighted average trading price prior to the announcement of April 30, 2019, a premium of 47.8% over the 20-day weighted average trading price for the period ended May 15, 2019, the terms of Air Canada’s proposal, which it deemed reasonable and acceptable taken as a whole, including the duration of the exclusivity period, the disclosure of the main terms of the letter of intent, the covenants of Air Canada and the contemplated terms of the definitive agreements.

Additional Terms of the Letter of Intent

The letter of intent sets forth certain terms that will be required in the definitive agreement. These terms include a break fee of $15 million payable by Transat in case of termination of the transaction, including upon acceptance of an unsolicited superior proposal, and a reverse break fee of a maximum of $40 million payable by Air Canada in the event that the agreement is terminated because regulatory or governmental approvals are not obtained. In addition, the non-solicitation provision will be subject to the usual withdrawal right based on fiduciary duties if an unsolicited proposal is made at a firm price per share that is at least $1.00 higher than the price offered by Air Canada, in the event such proposal is not matched by Air Canada. Moreover, the execution of a definitive agreement by Air Canada will be subject to the execution of support and voting agreements by certain large shareholders of Transat.

Finally, Transat has agreed to limit its undertakings and expenses relating to the implementation of its hotel strategy during the exclusivity period.

Any agreement will also contain numerous conditions customary for this type of transaction, including applicable regulatory approvals and the approval of the shareholders of Transat.

There is no assurance that a definitive agreement will be reached in relation to any transaction following the exclusivity period and the ongoing discussions. No assurance may be given that a transaction will occur in relation to the proposed transaction or otherwise, or regarding the definitive terms of such transaction, if any.

Avcorp announces 2019 First Quarter Financial Results

Provided by Avcorp Industries Inc/CNW

VANCOUVER, May 14, 2019 /CNW/ – Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) today announced its financial results for the quarter ended March 31, 2019. All amounts are in Canadian currency unless otherwise stated.

2019 Highlights

Key fiscal year 2019 financial results include:

  • First quarter 2019 operating loss was reduced by $2,983,000, in comparison to the same quarter in 2018, primarily as a result of consolidation of costs and improved operating effectiveness; after the benefit of amortization to income of unfavourable contracts liability, onerous contracts provisions, and the income impact of the net claim settlement have been removed. 
  • On January 25, 2019, the Company entered into a net claim settlement agreement with HITCO Carbon Composites, Inc., SGL Carbon, LLC, and SGL Carbon SE (the “SGL parties”) and a customer, which provided the Company a settlement in satisfaction of existing and potential claims, causes of action, disputes and other business matters related to the acquisition from the SGL parties. The net claim settlement resulted in a gain of $19,744,000. 
  • First quarter 2019 cash flows from operating activities were increased by $27,497,000, relative to the same quarter in 2018. 
  • In Comtek’s continuing effort to reduce airline operator’s key metric of turnaround time for repaired aircraft components, while still providing premium quality, Comtek has embarked on deploying a forward base of operations located in the United Kingdom. EASA certification has now been granted and the team is actively engaged on its’ first repair orders, providing much needed support for the growing Q400 fleet in Europe.

Review of 2019 First Quarter Financial Results

For the quarter ended March 31, 2019, the Avcorp Group recorded income from operations totaling $15,057,000 from $42,225,000 revenue, as compared to $4,606,000 operating losses from $43,276,000 revenue for the previous quarter. It should be noted that 2019 operating income benefited by $517,000 income from amortization of onerous contracts provision into income (March 31, 2018: $3,581,000 amortization of unfavourable contract liability and onerous contract liability). On January 25, 2019, the Company and its subsidiary Avcorp Composite Fabrication Inc. (the “Avcorp Parties”) entered into an agreement with HITCO Carbon Composites, Inc., SGL Carbon, LLC, and SGL Carbon SE (the “SGL parties”) and a customer to settle all claims related to alleged deficiencies in HITCO’s non-destructive inspection processes and other business matters including a lease renewal and collection of previously provisioned accounts receivable in exchange for gross consideration of USD$12,000,000 from the SGL parties to Avcorp and mutual releases among the Avcorp Parties, SGL Parties and a customer related to the acquisition. The net claim settlement resulted in a gain of $19,744,000. Continued consolidation of operating costs have resulted in reduced current quarter operating losses, in comparison to the same quarter in 2018 after the benefit of amortization to income of unfavourable contracts liability and onerous contracts provisions, and the income impact of the net claim settlement have been removed.

During the quarter ended March 31, 2019, cash flows from operating activities, excluding the impact of changes in non-cash working capital, provided $12,998,000 of cash as compared with utilization of $4,572,000 of cash during the quarter ended March 31, 2018; a significant improvement, primarily attributable to a reduction in operating losses during 2019 in comparison to 2018 and net claim settlement collected of USD$10,810,000.

As at March 31, 2019, the Company had $2,405,000 cash on hand (December 31, 2018: $2,051,000) and had utilized $72,005,000 of its operating line of credit (December 31, 2018: $85,840,000). The Company has a working capital deficit of $61,345,000 as at March 31, 2019 which has decreased from the December 31, 2018 $71,503,000 deficit. Working capital surplus/deficit is defined as the difference between current assets and current liabilities. However, the Company’s accounts receivable, contract assets, and inventories net of accounts payable, amount to a $19,148,000 surplus as at March 31, 2019 (December 31, 2018: $22,000,000 surplus). The Company’s accumulated deficit as at March 31, 2019 is $119,269,000 (December 31, 2018: $132,878,000).

Magellan Aerospace Signs Agreement With BAE Systems for F-35 Aircraft Assemblies

Provided by Magellan Aerospace Corporation/CNW

ORONTO, May 14, 2019 /CNW/ – Magellan Aerospace Corporation (“Magellan”) announced today that it will continue producing F-35 Lightning II (“F-35”) horizontal tail assemblies under an agreement with BAE Systems.  The agreement is the continuation of contract awards made to Magellan by BAE Systems and with the additional quantities awarded, Magellan will more than double its horizontal tails produced thus far for the program. 

Magellan, through its operations in Winnipeg, Manitoba, and BAE Systems have been working together to produce horizontal tails for the global F-35 program for more than a decade, signing the original Letter of Intent for this agreement in 2006.  Both companies have since made significant investment in facilities, technologies and training to ensure the successful delivery of these flight-critical assemblies to F-35 prime contractor Lockheed Martin.

The horizontal tail assemblies produced at Magellan will be used on the Conventional Takeoff and Landing (CTOL) variant of the F-35.  Magellan is targeting to produce more than 1,000 ship sets of horizontal tail assemblies over the life of the F-35 program. 

“This contract represents additional quantities of horizontal tails awarded to Magellan with annual deliveries ramping up to 60 per year within the three year period.  This is approximately half of the program requirement for the CTOL variant of the aircraft,” said Mr. Phillip Underwood, Magellan’s President and CEO.  “Magellan has steadily increased its annual deliveries since the first horizontal tail delivery in 2012.” 

Summer changes for Air Creebec destinations

Provided by Air Creebec/CNW

VAL-D’OR, QC, May 13, 2019 /CNW Telbec/ – Innovation and customer experience are the key success factors for Air Creebec. The company is constantly looking out for creative ideas to improve services and customer satisfaction. However, despite the efforts made to provide air services between Timmins and Rouyn-Noranda to Montreal, Air Creebec must suspend these flights during the summer season, as of May 24, due to low passenger loads.

Customer focus

“We had participated in the regional air transport summit and all the exchanges resulting from the UMQ’s (Union of Quebec Municipalities) regional air transport initiatives, united with the statements of the CCIRN and the city of Rouyn-Noranda, seduced us. We thought that the creation of a new two-way daily round-trips between Timmins, Rouyn-Noranda and Montreal, at a fair price, would have been able to meet passenger demands, ” explains Matthew A. Happyjack President and Chief Executive Officer.

We offer reliable and safe services, we care about all our area’s passengers; “For this reason, we will analyze and stay in touch with our company’s leaders to make an informed decision in the fall, “says Tanya Pash, Chief Operating Officer.

InteliSys Aviation Welcomes Rick Saggar to the Team

Saint John, NB – 13 May 2019 – InteliSys Aviation is thrilled to welcome Rick Saggar to its growing worldwide Sales Team in his new role as Vice President of Sales for Europe, the Middle East, Africa, and India. In his new role, Rick will be taking charge of customer acquisition and retention throughout his designated region, working to partner full-service, low-cost, and hybrid carriers with InteliSys so these airlines can grow and prosper.

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“The InteliSys approach is to partner and understand what each airline needs and then to execute the right distribution approach to grow airline revenue, visibility, and yield for continued success. I build success for organizations on account of my dedication to always innovate and find the best way to approach any issues.”– Rick Saggar

Rick’s primary goal is to prove to InteliSys’ clientele that the company isn’t just a service provider: InteliSys is a long-term partner that works tirelessly to ensure the success of its airlines. By helping airlines implement the right set of technology solutions, Rick will help carriers open multiple sales channels and take advantage of today’s globally connected world.

“I am very excited to have Rick join our team as he came highly recommended as one of the most knowledgeable individuals in the commercial side of airlines. Rick’s extensive background in airlines and distribution providers will prove to be great assets in the key role he is taking on at InteliSys. His 25 years of aviation experience will help our current and future customers to optimize and grow their airlines.”– Frank Kays, InteliSys Aviation CEO

Rick has more than 25 years of experience within the airline industry. Having worked in the commercial and distribution functions of many airlines, he has developed a keen insight into what it takes for airlines to gain market footholds and grow. He’s worked for various carriers, airports, and technology companies across the United States, United Kingdom, and the Middle East, including tech giants Travelport and Hahn Air. His expertise encompasses stakeholder engagement, sales channel development, forging mutually beneficial alliances, commercial transformation, and so much more.

“I believe InteliSys is on the cusp of doing something really big and I’d like to be part of that success. Having followed the company for a number of years, I really do think that the product is at the level at which we can compete very well with some of our peers in the industry – so it’s time to take some market share.” – Rick Saggar

PAL Aerospace Again Ranked Amongst Canada’s Top 10 Aerospace and Defence Companies

Provided by PAL Aerospace/CNW

ST. JOHN’S, May 10, 2019 /CNW/ – PAL Aerospace is proud to announce it has been ranked 8th by the Canadian Defence Review (CDR) in its annual Top 75 ranking of Aerospace and Defence companies in Canada. This is PAL Aerospace’s third consecutive year in the Top 10.

“We are again honoured to be recognized by CDR for our considerable achievements over the course of the last year,” said Brian Chafe, Chief Executive Officer for PAL Aerospace. “Our consistent top 10 ranking is reflective of our employees’ ongoing commitment to excellence, and of the unwavering support we receive from our parent company, Exchange Income Corporation.”

“In the past 12 months, PAL Aerospace brought our Force Multiplier offering to market and, in partnership with Airbus Defence and Space, continued our preparations to support the Canadian Armed Forces through the Fixed Wing Search and Rescue Replacement Program. We also secured a renewed mandate to provide aerial surveillance for Canada’sinland, coastal, and offshore waters on behalf of the Government of Canada,” said Jake Trainor, Chief Operating Officer of PAL Aerospace.  “We are very excited, not only for what these accomplishments mean for PAL today, but also for how they secure the future of our company.”

The CDR Top 75 are assessed annually by an evaluation panel based on metrics such as innovation, research and development, contribution to national security, national and international contract wins, as well as excellence of management and support to Canada’s military.

About PAL Aerospace:

PAL Aerospace is a full service, international aerospace and defence company providing intelligence, surveillance, and reconnaissance (ISR); in-service support (ISS); aircraft engineering and modification; and environmental service solutions. PAL Aerospace has an established track record of executing tailored and customized services that suit the specific needs of our clients. At PAL Aerospace, we offer a single point of accountability, and take pride in being a trusted choice for global aerospace solutions.

SOURCE PAL Aerospace