http://www.key.aero/view_news.asp?ID=25 ... n=military
Canadian CF-5s reactivated?
Tactical Air Defense Services is to buy six Canadian CF-5 fighters.
September 24:
Tactical Air Defense Services (TADF), a defence services contractor in the USA says it has agreed to purchase six Canadian CF-5 fighters from the Canadian Minister of Public Works and Government Services.
The $6 million (€5 million) deal includes six ex-Canadian Air Force CF-5 aircraft plus spares and 45 General Electric J85-15 jet engines, enough to power the fleet for up to 20 years.
The CF-5 is the Canadair-licensed version of the Northrop F-5A Freedom Fighter aircraft built primarily for the Canadian Armed Forces.
TADF says that the aircraft is low-cost, low-maintenance, and extremely versatile, making it suitable to provide a tactical support role as a light attack strike fighter and a reconnaissance platform,
for dissimilar air combat training, lead-in tactical fighter training, and in an adversary role in support of tactical aviation contracts.
TADF says that it will be offering the CF-5s to governments at an hourly rate of $7,500 and aims to operate each aircraft for a minimum of 200 hours a year.
Alexis C. Korybut, Chief Executive Officer, said "We are very pleased that after more than a year of working on this very important transaction, we have finally accomplished what may prove to be a watershed event for TADF.
The acquisition of the CF-5 Fighter Jets will enable us to bid on larger and more profitable tactical aviation contracts and aircraft maintenance contracts, and the sale of surplus spare parts and engines may provide a significant source of income for years to come."
http://ir.stockpr.com/tads-usa/press-re ... ghter-jets
Press Releases
--------------------------------------------------------------------------------
Tactical Air Defense Services Acquires Option to Purchase Canadian CF-5 Fighter Jets
CARSON CITY, Nev., Sept. 23, 2010 (GLOBE NEWSWIRE) -- Tactical Air Defense Services, Inc. (OTCBB:TADF), an Aerospace/Defense Services contractor
that offers tactical aviation services, aerial refueling, aircraft maintenance, disaster relief services, and other Aerospace/Defense services to the United States and foreign militaries and agencies,
is pleased to announce that it is has acquired the exclusive contractual right to purchase six Canadian CF-5 Fighter Jets and related assets (the "CAD Assets") from Crown Asset Distribution, Minister of Public Works and Government Services, Canada.
The CAD Assets have a market value of greater than $69 million, and include:
6 CF-5 Aircraft
Spare Parts Lots
45 General Electric J85-15 Jet Engines
The total cost to TADF to purchase, import and refurbish the CAD Assets, including the acquisition cost of the contractual right to purchase the CAD Assets, is less than $6 million.
The CF-5 aircraft is the Canadair licensed version of the American Northrop F-5 Freedom Fighter aircraft built primarily for the Canadian Armed Forces.
The CF-5 is a low-cost, low-maintenance, and extremely versatile fighter jet that can be used to provide a tactical support role,
as a light attack strike fighter and a reconnaissance platform, and for dissimilar air combat training, lead-in tactical fighter training, and in an adversary role, in support of tactical aviation contracts.
TADF intends to use the CAD Assets to capture new tactical aviation service contracts and maintenance contracts, with the U.S. Department of Defense and foreign militaries:
CF-5 Aircraft: Support existing TADS/Tac-Air tactical aviation service contracts
Capture new tactical aviation service contracts
Minimum of 200 hours per aircraft per year
Hourly rate to government of approximately $7,500 per flight hour
-- CF-5 Parts:
Support TADS CF-5 aircraft for 20 years
Surplus sold in conjunction with international aircraft maintenance contracts
Manufacturing template for CF-5 parts supply business to ensure ongoing supply
-- CF-5 Engines:
Support TADS CF-5 aircraft for 20 years
Surplus sold either as whole units or in parts
TADF is currently pursuing a collateralized loan of $6 million secured by the CAD Assets with an over-collateralization ratio of greater than ten times.
TADF believes but cannot guarantee that it will receive the funds necessary to purchase all of the CAD Assets.
Alexis C. Korybut, Chief Executive Officer of TADF, stated, "We are very pleased that after more than a year of working on this very important transaction, we have finally accomplished what may prove to be a watershed event for TADF.
The acquisition of the CF-5 Fighter Jets will enable TADF to bid on larger and more profitable tactical aviation contracts and aircraft maintenance contracts,
and the sale of surplus spare parts and engines may provide a significant source of income to TADF for years to come, in addition to materially increasing the assets on our balance sheet."
/reeve.gif)
