March 6, 209, Toronto - The Discovery Air Board of Directors is pleased
to announce the appointment of David Jennings as the president and CEO of the Corporation. Jennings has served as the interim resident and CEO of Discovery Air since Sept. 12,
2008.
Jennings has also served as Co-Chief Executive Officer of Top Aces
Inc., one of Discovery Air's wholly owned subsidiaries, and is a former CF-18
fighter pilot who, along with two partners, founded Top Aces in 2001.
According to Gil Bennett, the chairman of the board, "the appointment of
Dave Jennings represents another important step in the development of
Discovery Air. Having completed our $34 million financing arrangement with the
Northwest Territories Opportunities Fund, we are now in a position to develop
the strategies to position Discovery Air as a unique provider of specialized
air services. The board is confident Jennings is the best person to lead
the company and our talented people in this exercise."
"We continue to actively manage our financing arrangements, and we are
very focused on conserving cash and controlling costs while still growing our
businesses that are less impacted by the recession," said Mr. Jennings. "I
look forward to working with the entire Discovery Air management team and
workforce on the task of building shareholder value during these unprecedented
economic times."
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.
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