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Market Cap £534.7m
Enterprise Value £1.12bn
Revenue £1.97bn
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PAE Continues Longstanding Air Force Support with Position on Rotary Wing Maintenance IDIQ, Award of Initial Task Order

Fri 13th November, 2020 1:00pm
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FALLS CHURCH, Va., Nov. 13, 2020 (GLOBE NEWSWIRE) -- PAE
(https://www.globenewswire.com/Tracker?data=3-_OSGxJ6t8cKCpiYwa_cwKRhu7lHSx9rAdEk4oJkRKiqgvVe1g2BXvb4NGja595)
(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
(https://www.globenewswire.com/Tracker?data=pUMh43aAFE8h2EyDTlDocdr85lBENeddtNr4U2HWQK-BtfKB8WiwBDweC-znVVihBTX3trdnt0OFRtcQ456dJhehmxiyI3tnuVAOZcXNlszh7M20itqd45YKs8WDDkopa4LltNVAFUzo_63AWqCLew==)
for U.S. government customers, including four branches of the military and the
Department of Homeland Security. PAE President and CEO John Heller
(https://www.globenewswire.com/Tracker?data=8NOA1S7Zv9cVccvMYEiM2jmmUGvklHaQaHy04MEDARV0LNl8VuON-EGh7fQ2F8mjLkPb3KTofjEHJYOf-qBO-H6mlNjNuF4fpfsM0-nhFmE=)
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 58(th) 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.

About PAE
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
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on Facebook
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Twitter
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and LinkedIn
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Forward-Looking Statements
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.

For media inquiries regarding PAE, contact:

Terrence Nowlin
Senior Communications Manager
PAE
703-656-7423
terrence.nowlin@pae.com

For investor inquiries regarding PAE, contact:

Mark Zindler
Vice President, Investor Relations
PAE
703-717-6017
mark.zindler@pae.com

 

(https://www.globenewswire.com/NewsRoom/AttachmentNg/fcc8a68c-a0d6-41da-9db8-5dd40cc2bf70)



GlobeNewswire, Inc. 2020
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