Discovery Air Inc. Announces New Financing Arrangements

    LONDON, ON, Jan. 25 /CNW/ - David Taylor, Chairman & C.E.O. of Discovery
Air Inc. (TSX: DA.A), is pleased to announce that the company, in furtherance
of its goal to provide comprehensive and efficient cash management at the
Discovery Air level, has arranged a group-wide operating facility from the
Royal Bank of Canada and an evergreen term facility with GE Capital Solutions
Canada's Aircraft Financing Group. These facilities refinance the individual
lending arrangements which were inherited by Discovery Air upon the
acquisition of their operating units. These facilities will significantly
increase operating cash flow and provide additional debt capital for
acquisitions of other niche aviation businesses and aircraft.
    Discovery Air's mission is to build shareholder value by creating an
alliance of profitable aviation businesses that can realize synergies and
economies of scale and deliver safe, professional air services to clients in
selected niche markets.
    Discovery Air's Class A common shares trade on the Toronto Stock Exchange
under the symbol DA.A
    Discovery Air's Debentures trade on the Toronto Stock Exchange under the
symbol DA.DB.

For further information:

For further information: Wade MacBain, Director of Investor Relations,
Phone: (519) 951-3580, Toll Free: (866) 903-3247 ext. 3580, Email:

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