PAE Prevails Bid Protest, Retains Position On $835M Air Force Contract
- PAE Inc (NASDAQ: PAE) has retained its position on the U.S. Air Force Rotary Wing Maintenance Contract Consolidation contract vehicle, as the U.S. Government Accountability Office dismissed a bid protest raised by a competitor.
- The IDIQ contract vehicle has a ceiling value of $835 million and ten years of performance. PAE is one of five business contractors awarded a seat on the contract vehicle.
- The resolution also permitted the Air Force to reinstate an initial five-year task order awarded to PAE on the contract, valued at $84.3 million, to support helicopter maintenance for training missions with the Air Education and Training Command at Kirtland Air Force Base in Albuquerque, New Mexico.
- Price Action: PAE shares are trading higher by 5.80% at $6.02 on the last check Monday.
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