THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Wednesday, September 4, 1996 TAG: 9609040461
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
SOURCE: STAFF REPORT
DATELINE: NEWPORT NEWS LENGTH: 32 lines
Flight International Inc., an aviation services company that emerged from bankruptcy two years ago, has been awarded a five-year, $105 million contract to provide a range of flight services to the U.S. Navy.
The expanded Commercial Air Services contract, which starts Oct. 1, is a consolidation of two contracts: for the Navy's Atlantic Fleet and Pacific Fleet.
The Flight International Group provides aviation services, including military training, airborne test and evaluation support, aircraft maintenance and modification to the government and industry worldwide.
``This new contract provides the Fleet with electronic warfare training, and supports research, development and testing for the Naval Air Warfare Center,'' said David E. Sandlin, president of Flight International.
The agreement will mean more jobs. Flight International currently employs about 125 employees locally.
``There will be about 25 new positions as a result of this contract,'' said Wayne Richmon, chief financial officer for the company.
The new positions will be allocated for Pacific Fleet training in the San Diego area. Training for the Atlantic Fleet will be in Hampton Roads.
The contract is a huge boost for Flight International, which filed for bankruptcy in 1994. The company emerged from Chapter 11 in December 1994.
``Revenues have increased 20 percent in the first year out. Of course, with this new contract the company could double from that size. This is a very important step for us,'' Richmon said. by CNB