24 May 2017 07:00
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services
24 May 2017
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
Secures Contract with the Department of Civil Aviation (DCA), Cyprus
Strat Aero plc, an international aerospace company, is pleased to announce a contract with Cyprus's Department of Civil Aviation (DCA) to provide aviation consulting services.
The DCA has selected Strat Aero to support the process of issuing Air Operating Certificates (AOCs) to helicopter operators providing offshore services from Cyprus. This will include the evaluation of the documentation submitted by AOC applicants, performing all necessary inspections, providing advice, and submitting final recommendations to the DCA for the issuance of the Rotary Wing AOC. The initial contract is worth approximately EUR25,000.
Iain McLure, CEO of Strat Aero, said "We are delighted to have been chosen for this work by the DCA, it's a testament to Strat Aero's deep understanding of aviation issues and strong commitment to safe operation. We look forward to executing this initial contract and hope to expand our relationship with the DCA in future."
Andreas Paspalides, Head of the Safety Regulation Unit at the DCA, said "Ensuring safe operation of helicopter services is a top priority for us, particularly in the challenging environment of offshore operations where helicopter transport is essential. We look forward to working with Strat Aero to ensure that AOC applicants provide full and accurate compliance documentation with all the necessary risk assessments."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
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For further information please visit www.strat-aero.com or contact:
Strat Aero plc | Tel: +44 (0) 1293 804741 |
Graham Peck (Chairman) | |
SP Angel Corporate Finance LLP | Tel: +44 (0) 20 3470 0470 |
Nominated Adviser and Joint Broker | |
Stuart Gledhill Jeff Keating | |
Beaufort Securities Limited | Tel: +44 (0) 20 7382 8300 |
Joint Broker | |
Elliot Hance | |
Cornhill Capital Ltd | |
Joint Broker | |
Colin Rowbury | Tel: +44 (0) 20 7710 9610 |
St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Financial PR Frank Buhagiar Susie Geliher |
Notes
The Department of Civil Aviation, based in Larnaca, Cyprus, is part of the Ministry of Transport, Communications & Works. The DCA Safety Regulation Unit consists of three sections. The Flight Operations Section is responsible for oversight of the commercial operations and training standards. The Licensing Section is responsible for the Flight Crew and Maintenance Engineers licences as well as the Flight Training Organisations in Cyprus. Finally the Airworthiness Section has the responsibility of overseeing the approved maintenance organisations, the maintenance arrangements of the AOC holders and the airworthiness and maintenance of all aircraft on the Cyprus register. Each of these three sections consists of experienced local inspectors and support (administration) staff.