Exchange Income Corporation announced Dec. 20 that it has bought Wings Over Kississing’s King Air 200 charter operations and fuelling operations in Thompson, along with other assets.
Exchange Income Corporation (EIC), the company that owns Calm Air and Perimeter Aviation, announced Dec. 20 that is has bought some assets of Wings Over Kississing, including its charter and fuelling operations based at the Thompson airport.
Wings Over Kississing was purchased for $10 million, including $7.8 million cash and the transfer of $2.2 of EIC common shares to the seller. The assets acquired by EIC include King Air 200 charter operations in Thompson, the Thompson fuelling operations, rotary wing operations in the Island Lake region and a 27,000-square-foot hangar at the St. Andrews Airport.
“The acquisition of these operations and assets significantly strengthen our aviation operations in Manitoba,” said EIC CEO Mike Pyle in a press release. “The King Air charter operations provide us with a new charter platform, and combined with the fuelling station at Thompson airport, allows us to better serve this key travel hub for communities in Northern Manitoba. The addition of the rotary wing operations enables us to continue to build our partnership with customers in the Island Lake region. The St. Andrews hangar represents a significantly upgraded facility for Custom. Continued investment in the province is important for EIC and we look forward to breaking ground on the previously announced new 60,000-square-foot hangar at the Winnipeg International Airport in the near future as part of EIC bringing the heavy maintenance for the fixed wing search and rescue to Manitoba.”
Wings Over Kississing founder and president Curt Enns said he was pleased with the sale.
“As a proud Manitoban, we are happy that our operations are going to a great company with their home base in Manitoba,” said Enns. “My wife, Juanita, and I will continue to focus on our lodge and remaining aircraft platform, including float operations. We look forward to working with EIC as we focus on our other businesses.”
EIC’s aviation division owns and operates Perimeter Aviation and Bearskin Lake Air Service, Keewatin Air, Calm Air International, Custom 2 Helicopters, Regional One, Provincial Aerospace and Moncton Flight College, and has an investment in Wasaya Group.