Canadian Helicopters Income Fund Oct. 20 announced it received
of a Notice of Intent from the U.S. Department of Defense to exercise “Option Year 1” of its contract with Canadian Helicopters to provide transportation services in Afghanistan.
The extension, subject to the availability of funds, covers the period between Dec. 1 and Nov. 30, 2010, and represents the first of four one-year renewal periods originally contracted with DoD.
The 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 U.S. currency.
“This extension of our supply contract in Afghanistan represents another continuation of our long term relationship with the U.S. military,” Don Wall, senior executive vice- president of Canadian Helicopters Income Fund, said in a statement.”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 U.S. 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.”
Through Canadian Helicopters Limited, Canadian Helicopters Income Fund is the largest helicopter transportation services company operating in Canada and one of the largest in the world based on the size of its fleet.