October 22, 1999
(Industry, Trade and Technology)

Cougar ExecuJet receives EDGE status during official launch of new business jet charter service

During a news conference today, Cougar ExecuJet, and Industry, Trade and Technology Minister Sandra Kelly, announced the official launch of the company's new Business Jet Charter Service.

Participating in the ribbon-cutting ceremony at Cougar ExecuJet's St. John's headquarters were Minister Kelly; Captain Rick Burt, company president; David Hennigar, chairman, Cougar Aviation; Jim Johnston, president, Cougar Helicopters; and Captain Rudy deBest, operations manager, Cougar ExecuJet. The company's first aircraft, the Westwind II, was unveiled at the announcement.

Minister Kelly also announced that Cougar ExecuJet has qualified for Economic Diversification and Growth Enterprises (EDGE) benefits for its long haul charter business.

"Newfoundland and Labrador's EDGE program offers one of the most attractive business incentive programs in North America," said Minister Kelly. "The program has been instrumental in increasing investment and diversifying our economy, and I am excited to see this latest commitment for jobs and investment in our province."

Captain Burt highlighted the fact that the EDGE program had a substantial influence in Cougar's decision to not only locate its business in Newfoundland and Labrador, but also was significant in fostering an environment in which a new start-up business, such as Cougar ExecuJet, could fiscally develop and grow.

"We are very excited with the launch of this jet charter service, the first of its kind in Newfoundland and Labrador. We look forward to providing a first-class service to our customers in this province and Atlantic Canada," said Captain Burt.

Cougar ExecuJet has identified three markets for potential business development: the executive business traveler, air ambulance/medical services and special air courier. Key target groups include the oil and gas industry, the medical field, business and government transportation.

With 12 employees already on staff, Cougar ExecuJet plans to hire another eight to 10 more staff in the first year of operations. The long-term outlook includes a workforce of 40-50 employees with a fleet of up to five high performance business jets, including dedicated air ambulance and special air courier configured aircraft.

Cougar ExecuJet has already formed a number of key alliances and partnerships with local companies including Atlantic Offshore Medical Services and Avflow, a flight dispatch and following service.

Company president, Captain Burt, a native Newfoundlander, has 20 years experience in the Atlantic Canadian aviation business, serving both the fixed and rotor wing industries in various capacities. Operations manager, Captain Rudy deBest, also brings a wealth of business aviation "know how" to the Cougar team and a substantial technical background in flight operations and aerospace engineering.

Cougar ExecuJet is a sister company to Cougar Helicopters Inc., another 100 per cent Atlantic Canadian privately owned and operated company with bases of operations in St.John's, Halifax and Koh Samui (Thailand). Cougar Helicopters Inc. has been the primary supplier of helicopter services for both the Hibernia and Terra Nova projects since start-up. The most recent edition of Atlantic Progress magazine ranked Cougar Helicopters Inc. as the eighth fastest-growing company in Atlantic Canada.

"Having an operation in the centre of the East Coast oil and gas industry will enable Cougar ExecuJet to meet a growing demand for charter flights," said Minister Kelly. "I am pleased that EDGE provided the incentive for the company to headquarter right here in Newfoundland and Labrador."

Companies meeting EDGE criteria are eligible for a 10-year tax break from provincial corporate income tax and provincial payroll tax, followed by a five year phase-in of these taxes, Crown land for a nominal fee, and access to a facilitator who will help obtain the required permits and licences associated with start up or expansion. In addition, many of the province's municipalities participate in the EDGE program and offer similar tax holidays from property and/or business tax.

Media contact:

Jackie Simon, Director of Communications
Industry, Trade and Technology
(709) 729-0050

Captain Rick Burt, President
Cougar ExecuJet
(709) 758-4800

1999 10 22 11:40 a.m.