Discovery Air Inc. announces new financing arrangements
Jan. 25, 2008, London, Ont.- David Taylor, chairman & C.E.O. of Discovery Air has announced that the company has arranged two group-wide operating facilities.
January 25, 2008 By Carey Fredericks
Jan. 25, 2008, London, Ont. – 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.
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