Discovery Air, Hybrid Air Vehicles deal expires

Canadian air services firm takes a pass on heavy lift helium aircraft.

Comments Off on Discovery Air, Hybrid Air Vehicles deal expires August 7, 2012
by Canadian Press

Yellowknife — Discovery Air said Tuesday it has allowed a deal with Hybrid Air Vehicles Ltd. to expire without exercising any of its options for HAV’s heavy lift helium aircraft. Paul Bouchard, president of Discovery Air Innovations, said the company concluded that the option structure did not align with its investment plans.

“We remain excited about this technology’s potential and intend to continue working with HAV to promote the commercialization of heavy lift hybrid air vehicles,” Bouchard said in a statement.

Discovery Air provides training to the Canadian military as well as emergency air services and logistical support along with a range of maintenance, repair, overhaul, modification, engineering and certification services.
© 2012 The Canadian Press