Discovery Air Inc. announces launch of new subsidiary Discovery Air Innovations Inc.

YELLOWKNIFE, April 13 /CNW/ - Discovery Air Inc. is pleased to announce the launch of a new wholly-owned subsidiary, Discovery Air Innovations Incorporated (DAI).

Consistent with Discovery Air's strategic plan to create significant, long term shareholder value, DAI's mandate will be to identify and capture large, new market opportunities on behalf of Discovery Air. In particular, DAI will focus on obtaining select government and commercial customers for the delivery of profitable specialty aviation services. While DAI will support Discovery Air's continued growth in Canada, a primary focus will be to pursue international opportunities that demand high quality, experienced aviation service providers like Discovery Air. DAI will also invest significant resources in bringing to market new and disruptive aviation products and technologies to further strengthen Discovery Air's business model.

"The creation of DAI is an exciting milestone in Discovery Air's evolution," said Paul Bouchard, President and CEO of DAI. "We are creating a multi-disciplinary team of the very best aviation-industry professionals, whose singular mandate will be achieving order-of-magnitude growth for the benefit of Discovery Air and its shareholders."

More information is available about DAI on their website at www.da-innovations.com.

ABOUT DISCOVERY AIR
Founded in 2004, Discovery Air Inc. is a specialty aviation services company operating across Canada and in select locations internationally. With over 130 aircraft, it is one of the largest air operators in Canada, employing more than 600 flight crew, maintainers and support staff to deliver a variety of air transport, maintenance and logistics solutions to its government, airline and business customers. The Company's Government Services segment includes three subsidiaries: Top Aces, which delivers airborne training and special mission services to the Canadian military; Hicks & Lawrence, a supplier of airborne fire management services to the Ontario government and charter services to government agencies and corporate customers; and Discovery Air Technical Services, which provides a range of maintenance, repair, overhaul, modification, engineering and certification services from its Quebec City location. The Company's Northern Services segment includes three subsidiaries: Great Slave Helicopters, the second-largest VFR helicopter operator in the country; Air Tindi, the largest fixed-wing aircraft charter provider based in Northern Canada; and Discovery Mining Services, which supplies all-weather exploration camps as well as expediting and logistics support services.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Discovery Air's public communications may include written or oral forward-looking statements (as defined in applicable securities laws) regarding the future performance of the company and/or its subsidiaries. Forward-looking statements by definition are based on assumptions and are as a result subject to risks and uncertainties, including those identified in the Management's Discussion and Analysis section of Discovery Air's financial statements for the fiscal year ended January 31, 2010, available at www.sedar.com. As a result of such risks and uncertainties, actual results may differ materially from those discussed in forward-looking statements, and readers should not place undue reliance on such statements. Forward-looking statements represent expectations as of the date they are made, and Discovery Air disclaims any intention or obligation to update or revise any forward-looking statements it may make, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

Discovery Air's shares and debentures are listed on the Toronto Stock Exchange (Symbols DA.A and DA.DB respectively).

SOURCE Discovery Air Inc.

For further information:

Investor Relations
InvestorRelations@DiscoveryAir.com 

Sheila Venman
Investor Relations
sheila.venman@discoveryair.com
1-866-903-3247

Rolf S. Dawson
Vice President, Corporate Finance & Administration
Rolf.Dawson@discoveryair.com
(867) 873-5350, Ext. 304

 


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