PAE Awarded Ten-Year Contract to Provide Aircraft Maintenance to the U.S. Customs and Border Protection Agency

Rhea-AI Summary

PAE (NASDAQ: PAE) has been awarded a significant contract by U.S. Customs and Border Protection, part of the Department of Homeland Security. This contract, valued at over $1.26 billion, features a one-year base period and nine optional one-year extensions, with the potential for an additional three-month extension. PAE's CEO highlighted the company's proven track record and commitment to national security through aircraft maintenance services. The contract will involve support across various operational sites, ensuring the readiness of CBP's fleet of over 200 aircraft.

Positive

• Awarded a contract valued at over $1.26 billion.
• One-year base period with nine optional extensions and a potential three-month extension.
• Demonstrates long-term partnership and trust with U.S. Customs and Border Protection.
• Continues to fulfill essential national security operations.

Negative

• None.

FALLS CHURCH, Va., May 19, 2020 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW), a global leader in delivering smart solutions to the U.S. government and its allies, was awarded the National Aviation Maintenance and Logistics Services contract by U.S. Customs and Border Protection, an agency of the U.S. Department of Homeland Security. The contract has a one-year base period of performance with nine one-year options, a potential three-month extension and an estimated total value of more than $1.26 billion.

PAE President and CEO John Heller said the award recognizes PAE’s dependability and specialized expertise for aircraft maintenance.

“With our long track record serving CBP’s aircraft maintenance needs, PAE has proven to be a trusted partner in supporting U.S. national security,” Heller said. “We look forward to continuing our support to this critical national security customer as we apply our innovative solutions supporting the CBP mission and fleet of over 200 aircraft.”

“This is truly a team win and a tribute to the more than 650 dedicated men and women on this program,” said PAE Vice President of CBP Program Management Rob Ulses. “These hard-working individuals have established a real partnership with CBP that allows us not only to support day-to-day operations, but to adapt and react to special missions.”

PAE will continue to provide safe and ready aircraft to ensure the U.S. government meets operational commitments to safeguard America’s borders. PAE will provide this essential support from aviation operational sites at military bases, civilian airfields and alternate locations across the United States. The broad scope of work extends from scheduled and unscheduled aircraft maintenance and repair to managing fueling, logistics and supplies.

About PAE
For 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, strategy for and management of growth, needs for additional capital, risks related to U.S. government contracting generally, including congressional approval of appropriations, and contract delays or cancellations caused by competitors’ bid protests of contract awards received by us. 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 value of the new contract awarded to PAE?

The new contract awarded to PAE is valued at over $1.26 billion.

How long is the duration of PAE's new contract with U.S. Customs and Border Protection?

The contract has a one-year base period, with nine optional one-year extensions and a potential three-month extension.

What services will PAE provide under the new contract?

PAE will provide aircraft maintenance and logistics support for U.S. Customs and Border Protection's fleet.

What is PAE's role in national security?

PAE plays a key role in national security by supporting U.S. Customs and Border Protection with aircraft maintenance and operational readiness.