CARSON CITY, Nev., April 2, 2012 (GLOBE NEWSWIRE) -- Tactical Air Defense Services, Inc. (OTCQB:TADF), an Aerospace/Defense Services contractor that offers tactical aviation services, aerial refueling, aircraft maintenance, and other Aerospace/Defense services to the United States and Foreign militaries and agencies, is pleased to announce that the Embraer 314 Super Tucano aircraft (the "Super Tucano") in which it has an interest through a Services Agreement with Tactical Air Support, Inc. has successfully flown on its first revenue-producing contract.
Despite a delay of many months due to unforeseen weapons clearance and maintenance requirements, all of which have now been resolved, the Super Tucano was successfully flown on contract providing training support for the U.S. Department of Defense. Because of positive feedback and strong demand for the Super Tucano, an aircraft which adds a level of capability and sophistication that no other commercial provider can deliver, we believe this initial detachment in support of military training will be one of many, but because it is an Indefinite Delivery Indefinite Quantity (IDIQ) Contract, we cannot yet provide a fixed dollar amount for the contract.
The Embraer 314 Super Tucano is a specialty military aircraft renowned for its capabilities in counter-insurgency and air-to-ground bombing, and is the only one of its kind offered in the U.S. through a commercial Aerospace/Defense services contractor.
Alexis C. Korybut, Chief Executive Officer of TADF, stated, "We are extremely pleased to announce that the Super Tucano has flown on its first military contract and is producing its first revenues for TADF after very frustrating and unanticipated delays. The Super Tucano is truly an exceptional aircraft with outstanding capabilities that no other commercial provider can offer, and we believe the aircraft will now be able to generate a steady flow of revenue for the Company."
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Forward Looking Statement Disclosure
Statements contained herein that are not historical facts may be forward looking statements within the meaning of the Securities Act of 1933, as amended. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts, to procure future contracts, to acquire certain assets, or to finalize funding for the purchase of certain assets. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.