Potential Sale of Bearskin Airlines

A major announcement impacting the airline industry in Northwestern Ontario.
Winnipeg-based Exchange Income has signed a letter of intent to acquire Bearskin Airlines.
The acquisition is valued at $32.5-million.
Bearskin has been a fixture in Northwestern Ontario for over 47-years with service in several communities including Dryden, Sioux Lookout, Red Lake, Kenora, Fort Frances, Thunder Bay and Winnipeg.
Exchange Income owns and operates CalmAir and Keewatin Air as well as Perimeter Air.
The cash and share deal is expected to close in the fourth quarter.