FALLS CHURCH, Va., May 21, 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 contract by the U.S. Air Force to manage aircraft and equipment maintenance supporting 96th Test Wing missions at Eglin Air Force Base, Florida. The award has a one-year base period of performance, six one-year options and a potential six-month extension with a total estimated value of $158 million if all options are exercised.
Through nearly four decades of aviation support for U.S. government customers, including four branches of the military and the Department of Homeland Security, PAE has built a reputation for safe and high-quality aircraft maintenance. PAE President and CEO John Heller said that reputation, paired with innovative practices, makes PAE a steadfast partner to the Air Force and its national security initiatives.“PAE employs top aviation industry professionals who will lend their expertise to a full range of maintenance capabilities at Eglin,” Heller said. “The Air Force missions we support are successful because of that expertise and process improvements we implement based on sound data analysis.”“The Eglin win is a result of the skill, knowledge and ability of the professional workforce and program leadership,” said PAE Global Mission Services Vice President Mike Frazier. “PAE is proud and honored to remain on the Eglin Team and to continue its partnership with the USAF in maintaining safe and ready aircraft.”PAE will provide the personnel, equipment, logistics and technical support needed to repair, maintain and modify various aircraft for the 96th Test Wing, including F-15 and F-16 fighter jets, and maintain support equipment and provide crash recovery services.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, on Facebook, Twitter and LinkedIn.Forward-Looking Statements
This press 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 and bid protests. 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.comFor investor inquiries regarding PAE, contact:Mark Zindler
Vice President, Investor Relations
PAE
703-717-6017
mark.zindler@pae.com
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