DISCOVERY AIR INC 8.375 PCT DEBS T.DA.DB.A

RE: Debt Paydown

[Time2soar]

Directors getting in on the action. They know shares are going to take off and they will make more money in owning equity then there debt.

Proof:

The Transaction is a "related party transaction" under National Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("NI 61-101") because the parties include a senior officer of Discovery Air and a senior officer of Great Slave. The Directors of the Corporation, who voted unanimously in favour of the Transaction at a Board of Directors meeting held on April 1, 2011, have determined that exemptions from formal valuation and minority approval requirements available under NI 61-101 apply to the Transaction, because neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Transaction, exceeds 25 percent of the Corporation's market capitalization as of the date of the Agreement. Factors considered by the Board of Directors in reviewing the Transaction included the value ascribed to the treasury shares to be issued by Discovery Air at closing (being $1.00 per Class A Share - a 133% premium to the closing market price of the Corporation's shares on March 31, 2011) and the reduction in consolidated debt service requirements and consolidated leverage achieved by the Transaction.

This is when you back the truck up and load up!!! This is easily going over $1.00.

Verrrrrrrrry good announcement!!!!! Good Job Discovery Air! This managment team is exceptional! With the closure of this deal is a 5.5 million dollar gain!