Aveos completes its recapitalization

MONTREAL, March 15 /CNW Telbec/ - Aveos Fleet Performance Inc. (formerly ACTS) today announced that it has completed the company's recapitalization and debt reduction, as announced on January 27, 2010.

As a result of the recapitalization process, Aveos is emerging as a financially stronger company with an appropriate capital structure to support the company's long-term strategic plan and business objectives.

Osler, Hoskin & Harcourt LLP and Simpson Thacher & Bartlett LLP acted, among others, as legal advisors and Miller Buckfire & Co., LLC acted as financial advisor to Aveos.

Weil, Gotshal & Manges LLP and Blake, Cassels & Graydon LLP acted as legal advisors and SkyWorks Capital, LLC acted as financial advisor to the steering committee of first lien lenders.

Goodmans LLP acted as legal advisor and RBC Capital Markets acted as financial advisor to the second lien lender.

Heenan Blaikie LLP, Stikeman Elliott LLP and Bennett Jones LLP acted as legal advisors and Genuity Capital Markets acted as financial advisor to Air Canada.

About Aveos

Aveos is a full-service maintenance, repair and overhaul (MRO) provider of airframe, engine, component and maintenance solutions. From maintenance facilities across Canada and in El Salvador, we provide integrated service solutions to over 100 customers, while focusing on building a robust network of strategic alliances. Aveos is committed to a tradition of providing world-class quality and expertise to customers across the Americas. To learn more, visit aveos.com.

SOURCE AVEOS FLEET PERFORMANCE INC.

For further information: For further information: Michael Kuhn, Director, Communications, Aveos, (514) 856-6789, michael.kuhn@aveos.com

Organization Profile

AVEOS FLEET PERFORMANCE INC.

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