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Exchange Income Corporation (EIC) is pleased to announce that it has entered into a long-term strategic alliance agreement with Sakku Investments Corporation (Sakku). Sakku is the business arm of the Kivalliq Inuit Association whose mission is to invest in viable businesses for the betterment of the Inuit of the Kivalliq Region. The strategic alliance will allow EIC’s operating subsidiaries, including Calm Air International LP and Keewatin Airlines LP, to leverage Sakku’s local knowledge, area representation, community feedback and direct relationship with the Kivalliq people to more effectively provide aviation services to the communities in the Kivalliq Region.
As part of the strategic alliance, Calm Air has entered into a long-term lease of an aircraft hangar in Rankin Inlet owned and recently constructed by Sakku. The hangar will allow Calm Air to better service customers in the Kivalliq Region, improve operational reliability, and provide a facility from which to expand its northern operations as opportunities are realized as a result of its new relationship with Sakku. The strategic alliance represents a significant investment on the part of EIC and its operating subsidiaries in the Nunavut economy.
Mike Pyle, chief executive officer of Exchange Income Corporation, said, “We have developed similar strategic alliances in our other geographic operating areas, particularly in Northern Manitoba, which have been tremendously successful and have allowed us to give back to the communities while enhancing our market share. Having a long-term relationship with such a respected and professional organization such as Sakku was something we have wanted for a long time. This alliance is in keeping with EIC’s goals of partnering with and investing in the communities we serve.”
“Calm Air has been a scheduled carrier in our region for over 30 years, and Keewatin Airlines has been doing air ambulance flights in the Kivalliq for over 40 years, so partnering with EIC just made sense,” said Mr. Airo Pameolik, Chairman of Sakku. “The strategic alliance will allow Sakku to participate financially from essential services that both carriers provide to the region, and will allow the beneficiaries of the region to benefit from increase aviation activity in the Kivalliq including resource development.”
