TORONTO, April 26, 2018 /CNW/ - On March 21, 2018, Discovery Air Inc. ("Discovery") was granted protection under the Companies' Creditors Arrangement Act ("CCAA") pursuant to an order (the "Initial Order") of the Ontario Superior Court of Justice ("Court"). Pursuant to the Initial Order, KSV Kofman Inc. ("KSV") was appointed as the CCAA monitor ("Monitor").
On April 26, 2018, the Court granted an Order approving an amendment to Discovery's debtor-in-possession financing facility (the "DIP Facility") which, among other things, increased the maximum amount available under the DIP Facility from $12.6 million to $15 million.
A copy of the Initial Order, SSP Order and other Court materials and information related to the Company's CCAA proceedings is available on the Monitor's website at http://www.ksvadvisory.com/insolvency-cases/discovery-air/.
About Discovery Air
Discovery Air, through its subsidiaries, is a specialty aviation business with operations in the medevac equipped aircraft services, air charter services, helicopter operations and transport and logistics support sectors.
SOURCE Discovery Air Inc.
For further information: contact Investor Relations at 866-903-3247.