Canadian Helicopters announces extension of contract with United States Military in Afghanistan
Canadian Helicopters Income Fund is pleased to announce receipt of a Notice of Intent from the US Department of Defense to exercise “Option Year 1” of its contract with Canadian Helicopters with respect to providing transportation services in Afghanistan.
The extension, subject to availability of funds, covers the period between December 1, 2009 and November 30, 2010, and represents the first of four one-year renewal periods originally contracted with the US Department of Defense.
This support contract involves the provision of three crewed and supported Bell 212 medium category aircraft to facilitate the movement of supplies and passengers. Revenue to Canadian Helicopters is comprised of fixed monthly and variable hourly components. The contract is denominated in US currency.
“This extension of our supply contract in Afghanistan represents another continuation of our long term relationship with the US military,” said Don Wall, Senior Executive Vice-President of Canadian Helicopters Income Fund.
“The contract has performed exceedingly well for Canadian Helicopters, as we have flown more than the expected hours to date. We are continuing to pursue further work in support of the US military, whether it be in Afghanistan, in the arctic supporting the North Warning System, or in our British Columbia school where we provide advanced mountain
and operational training to military pilots.”
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