Discovery Air to Sell Northern Companies

Discovery Air has been protected under the Companies’ Creditors Arrangement Act and will begin the court-supervised sale process of their three NWT based companies.

The company currently owns Air Tindi, Great Slave Helicopter Tours and Discovery Mining. In a release, the company announced it will sell those companies as well as its remaining defense business to help deal with mounting debt.

The company sold a 16% stake in DA Defence for twenty five million in December, but still hold 10%.

KSV Kofman Inc.is the company monitoring the sale. They declined to comment.

Clairvest Group Inc. is Discovery’s largest creditor, and has put forward a bid for the subsidiary companies.

The sale isn’t expected to affect employees of these three northern companies.

About the Author

Owen Fullerton
Owen is brand new to the radio industry. Graduating from Niagara College in 2017 with a broadcasting for radio and TV diploma, Owen decided to start his career up here in the North. A huge sports fan, music junkie, and Netflix binge watcher, he is pretty talented at wasting an obscene amount of time on these things. Owen is excited to see what the North and CKLB radio has in store for him.

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