Discovery Air Inc. Announces Termination of Interim Agreement to Purchase VIH Aviation Group Ltd.

    LONDON, ON, March 7 /CNW/ - David Taylor, President & C.E.O. of Discovery
Air Inc. (TSX: DA.A) announces that the Interim Agreement to purchase all of
the issued and outstanding shares of VIH Aviation Group Ltd. and its
affiliate, YYJ FBO Services Ltd., has been terminated.

    Discovery Air's goal is to consolidate the fragmented Canadian niche
aviation industry to realize synergies and economies of scale, thereby
creating a profitable and diversified company able to deliver safe,
professional air service to clients in selected niche markets.
    Discovery Air's Class A common shares trade on the Toronto Stock Exchange
under the symbol DA.A.

For further information:

For further information: Wade MacBain, Director of Investor Relations,
Phone: (519) 913-2204, ext. 358, Toll-free: 866-903-3247, ext. 358, E-mail:

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