PAE Awarded $30M Task Order on Contract Field Team Maintenance Services IDIQ for Aviation Maintenance and Logistics

Rhea-AI Summary

PAE (NASDAQ: PAE, PAEWW) has secured a task order valued at up to $30 million for aviation maintenance and logistics supporting the U.S. Army's 1106^th Theater Aviation Sustainment Maintenance Group in Fresno, California. This contract is crucial for the company's operational growth and emphasizes its nearly four decades of experience with U.S. government aviation needs. The task order has a base period until June 2022, with potential extensions up to June 2024, ensuring ongoing support for U.S. Army aircraft maintenance and logistics.

Positive

• Task order valued at up to $30 million enhances revenue potential.
• Award showcases PAE's extensive experience with U.S. government aviation contracts.
• Potential contract extensions through June 2024 provide stability.

Negative

• None.

FALLS CHURCH, Va., July 12, 2021 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW), a global leader merging technology with advanced business practices, delivering innovative and efficient managed solutions to the U.S. government and its allies, was awarded a task order on the Contract Field Teams’ Maintenance Services Contract for aviation maintenance and logistics supporting the U.S. Army’s 1106^th Theater Aviation Sustainment Maintenance Group in Fresno, California. The task order is valued at up to $30 million if all options are exercised. 

PAE Interim President and CEO Charlie Peiffer said the award showcases PAE’s technical expertise built over nearly four decades continuously supporting U.S. government customers’ aviation needs.

“PAE’s experience providing aviation services spans across more than 200 types and variants of aircraft with 75 engine types,” Peiffer said. “We believe that our broad knowledge paired with our dedication to innovation and continuous improvement will allow us to deliver the U.S. Army the best solutions for their critical missions.”

The work has a base period through June 2022 that may be extended to June 2024 through two one-year options. On the contract, PAE will provide automated logistics support, maintenance and repair of U.S. Army aircraft and equipment in the 1106^th TASMG support region and services for the Army’s National Maintenance Program.

About PAE
For more than 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, risks related to IDIQ contracts, strategy for and management of growth, needs for additional capital, susceptibility to claims, litigation and other disputes, and 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.com

For investor inquiries regarding PAE, contact:
Mark Zindler
Vice President, Investor Relations
PAE
703-717-6017
mark.zindler@pae.com

FAQ

What did PAE announce on July 12, 2021?

PAE announced the award of a task order valued at up to $30 million for aviation maintenance and logistics supporting the U.S. Army's 1106th Theater Aviation Sustainment Maintenance Group.

What is the duration of the contract awarded to PAE?

The contract has a base period through June 2022, with options for extension up to June 2024.

How does this contract benefit PAE?

This contract enhances PAE's revenue potential and demonstrates its expertise in aviation services for U.S. government clients.

What is the significance of the task order for PAE's operations?

The task order signifies PAE's commitment to providing essential support for U.S. Army aviation needs, reinforcing its market position.

What is the expected total value of the task order if all options are exercised?

The expected total value of the task order is up to $30 million.