PAE Successfully Defends Protest, Retains Position on $835M Air Force IDIQ and $84.3M Task Order Award

Rhea-AI Summary

PAE (NASDAQ: PAE, PAEWW) has confirmed its position on the U.S. Air Force Rotary Wing Maintenance Contract Consolidation contract after the U.S. Government Accountability Office dismissed a bid protest from a competitor. This indefinite delivery, indefinite quantity contract has a ceiling value of $835 million over ten years. The Air Force reinstated an initial five-year task order worth $84.3 million to support helicopter maintenance for training at Kirtland Air Force Base, New Mexico, demonstrating PAE's strong fleet management capabilities.

Positive

• Confirmed position on a contract with a ceiling value of $835 million.
• Reinstated a five-year task order valued at $84.3 million.

Negative

• None.

FALLS CHURCH, Va., Sept. 27, 2021 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW), a global leader merging technology with advanced business practices, delivering innovative solutions to the U.S. government and its host country partners, retained its position on the U.S. Air Force Rotary Wing Maintenance Contract Consolidation contract vehicle as the U.S. Government Accountability Office dismissed a bid protest raised by a competitor. The indefinite delivery, indefinite quantity contract vehicle has a ceiling value of $835 million and a 10-year period of performance. The resolution also permitted the Air Force to reinstate an initial five-year task order awarded to PAE 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.

PAE Interim President and CEO Charlie Peiffer said the Air Force’s award decision highlights the strength of the PAE’s wide-ranging fleet management capabilities and longstanding support for the critical needs of the U.S. Air Force.

“With this award, our Readiness and Sustainment team will have an opportunity to integrate innovations and best practices while building on our nearly four-decade history providing aviation support to U.S. government customers, including the Air Force,” Peiffer said. “We’re ready to deliver mission-essential services on this initial task order now that the protest has been dismissed.”

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 and includes functional check flights, aircrew flight equipment and the maintenance of light caliber weapons and defensive systems.

PAE serves as the prime contractor on the task order and will support the maintenance and repair of Air Force 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 more than 65 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and host government partners. 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, risks related to U.S. government contracting generally, including congressional approval of appropriations and bid protests, and susceptibility to claims, litigation and other disputes. 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 is the significance of PAE's recent contract announcement?

PAE's recent contract announcement reinforces its role in supporting the U.S. Air Force with an $835 million contract and a reinstated $84.3 million task order.

When was the bid protest regarding PAE's contract dismissed?

The bid protest was dismissed on September 27, 2021.

What are the key financial figures related to PAE's Air Force contract?

The contract has a ceiling value of $835 million, with an initial task order worth $84.3 million.

How long is the period of performance for PAE's Air Force contract?

The period of performance for the contract is ten years.