Gama Aviation PLC New seven year, GBP65M Air Ambulance contract award (7433Q)
February 22 2023 - 8:07AM
UK Regulatory
TIDMGMAA
RNS Number : 7433Q
Gama Aviation PLC
22 February 2023
22(nd) February 2023
The information contained within this announcement is deemed to
constitute inside information as stipulated under Article 7 of the
Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act
2018.
Gama Aviation Plc (AIM: GMAA)
("Gama Aviation" or the "Company" or "Group")
New seven year, GBP65M Air Ambulance contract award
Further to the Company's preferred bidder selection announcement
of the 2(nd) November 2022 and following the conclusion of detailed
contractual negotiations, Gama Aviation Plc, the global aviation
services provider, is pleased to announce an award by the Wales Air
Ambulance Charity ("WAAC" or the "Charity"), of a seven-year
contract for the provision of Helicopter Medical Emergency Service
("HEMS").
The new seven-year contract, commencing 1(st) January 2024, is
for the operation and maintenance of five Airbus H145 emergency
medical service helicopters, two of which will be supplied by the
Group. A primary fleet of four helicopters will operate from the
WAAC's current facilities in Cardiff, Caernarfon, Welshpool and
Dafen providing comprehensive nationwide HEMS coverage across
Wales. The fifth helicopter will provide back-up for the
maintenance downtime of the primary fleet to ensure service
continuity.
This contract is expected to deliver overall revenues of
c.GBP65M over its 7-year term with margins consistent with those
derived from the Group's other Special Mission activities.
The Company will invest in standing-up the operation, deploying
the requisite capabilities, and other working capital requirements
during H2, 2023 to enable the service delivery on 1st January 2024.
This c.GBP2.4M of investment will be funded from the Group's
working capital resources and facilities. The two helicopters to be
supplied by the Group will be procured under operating or finance
leases for the term of the contract award.
Mark Smith, Managing Director, Special Mission, commented : "We
are extremely pleased to have been awarded this contract by the
Charity. We look forward to working closely with the Charity's team
as we stand-up the aircraft, flight, maintenance crews and other
resources that are required to deliver this important, national,
service."
Marwan Khalek, Group Chief Executive Officer, commented: "I am
delighted that we will be partnering with the Charity for the next
seven years to support the important service they deliver to
communities across Wales. This contract award is further evidence
of the execution of our Group's focused growth strategy and marks
another significant milestone for our Special Mission business unit
in the air ambulance market."
ENDS
Gama Aviation Plc +44 (0) 1252 553 000
Marwan Khalek, Chief Executive
Camarco +44 (0) 20 3757 4992
Ginny Pulbrook
Geoffrey Pelham-Lane
WH Ireland +44 (0) 207 220 1666
James Joyce
Sarah Mather
Gama Aviation - Notes to Editors
Founded in 1983 with the simple purpose of providing aviation
services that equip its customers with decisive advantage, Gama
Aviation Plc (LSE AIM: GMAA) is a highly valued global partner to
blue chip corporations, government agencies, healthcare trusts and
private individuals.
The Group has three global divisions: Business Aviation
(Aircraft Management, Charter, FBO & MRO), Special Mission (Air
Ambulance & Rescue, National Security & Policing,
Infrastructure & Survey, Energy & Offshore); and Technology
& Outsourcing (Flight Operations, FBO, CAM software, Flight
Planning, CAM & ARC services)
More details can be found at: http://www.gamaaviation.com/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTBXGDDLGDDGXD
(END) Dow Jones Newswires
February 22, 2023 08:07 ET (13:07 GMT)
Gama Aviation (AQSE:GMAA.GB)
Historical Stock Chart
From Aug 2024 to Sep 2024
Gama Aviation (AQSE:GMAA.GB)
Historical Stock Chart
From Sep 2023 to Sep 2024