FALLS CHURCH, Va., Nov. 13, 2020 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW), a global leader in delivering smart solutions to the U.S. government and its allies, was awarded a position on the U.S. Air Force Rotary Wing Maintenance Contract Consolidation indefinite delivery, indefinite quantity contract vehicle, which has a ceiling value of $835 million and a 10-year period of performance. The Air Force Installation Contracting Center also awarded PAE an initial five-year task order on the contract, valued at $84.3 million, to support helicopter maintenance for training missions with the Air Education and Training Command at Kirtland Air Force Base in Albuquerque, New Mexico.
The awards build on PAE’s nearly four decades of aviation support for U.S. government customers, including four branches of the military and the Department of Homeland Security. PAE President and CEO John Heller said this work supporting critical Air Force missions contributes to a business strategy of delivering world class aerospace services through innovation and technology integration.
“PAE’s specialized fleet management expertise is a clear advantage to winning key Air Force support work, strengthened by our certified continuous improvement practices,” Heller said. “Not only does our position on this IDIQ expand our reach with the Air Force, but it brings the potential to apply our rotary wing capabilities to the latest technologies, including the newly acquired MH-139 helicopter.”
PAE is one of five large business contractors awarded a seat on the contract vehicle that also includes three small business awardees. The program consolidates Air Force helicopter programs for the full-time availability of mission-capable aircraft, including UH-1N and HH-60 helicopters and V-22 tilt-rotor aircraft. The scope of the contract includes functional check flights, aircrew flight equipment and the maintenance of light caliber weapons and defensive systems.
PAE Vice President of Readiness and Sustainment Cristal Rice said PAE will deliver mission-essential services on the initial task order for the Air Force’s premier training site for special operations, combat search and rescue aircrews.
“We’re proud to continue our work with the AETC program to provide safe and high-quality aircraft maintenance,” said Rice. “Our services are critical to student pilots as they’re trained on a wide range of flight specialties in aircraft that we maintain for the 58th Special Operations Wing.”
PAE serves as the prime contractor on the task order, with support from subcontractors CLX Support Services and VP KIRA, to deliver personnel to maintain, repair and functionally check helicopters and associated engines, as well as provide mission support equipment, technical support and aircrew services in support of flight crew training missions at Kirtland Air Force Base.
For 65 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and its allies. With a global workforce of about 20,000 on all seven continents and in approximately 60 countries, PAE delivers a broad range of operational support services to meet the critical needs of our clients. Our headquarters is in Falls Church, Virginia. Find us online at pae.com, on Facebook, Twitter and LinkedIn.
This release may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about PAE’s possible or assumed future results of operations, financial results, backlog, estimation of resources for contracts, strategy for and management of growth, needs for additional capital, risks related to U.S. government contracting generally, including congressional approval of appropriations, bid protests and IDIQs. These forward-looking statements are based on PAE’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside PAE’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Forward-looking statements included in this release speak only as of the date of this release. PAE does not undertake any obligation to update its forward-looking statements to reflect events or circumstances after the date of this release except as may be required by the federal securities laws.
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