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Exchange Income Corporation congratulates PAL Aerospace on new ISR support contract

Exchange Income Corporation Press Release | October 31, 2024

Estimated reading time 2 minutes, 27 seconds.

Exchange Income Corporation (EIC),. a diversified, acquisition-oriented company focused on opportunities in the aviation and aerospace and manufacturing segments, congratulates PAL Aerospace on the award of a contract for the provision of airborne intelligence, surveillance and reconnaissance (ISR) support to a domestic security agency in an allied European nation.

This new 15-month agreement follows an initial contract that saw the company deploy an ISR aircraft in the jurisdiction and expands PAL Aerospace’s existing contribution to the agency’s ongoing efforts to enhance border security, combat transnational crime and protect vulnerable individuals from exploitation by migrant smugglers.

This agreement underscores PAL Aerospace’s dedication to providing enhanced capacity and innovative solutions that will further counter the evolving threats posed by human smuggling gangs.

Expanded in scope, this contract will see PAL Aerospace deploy a second aircraft and additional technical capabilities to augment their existing operation. Strengthening PAL Aerospace’s presence in the jurisdiction bolsters the agency’s ability to anticipate, monitor and interdict the irregular migration flows that precipitate small boat crossings, undermine border security, and put lives at risk.

“This contract is a testament to PAL Aerospace’s expertise and commitment to excellence in ISR operations,” said Mike Pyle, chief executive officer of EIC. “We view this mandate as a validation of the strategic investments EIC has made to support growth and development of PAL Aerospace as a world-class aerospace service provider.”

“We are thrilled to continue and expand our partnership and further solidify our commitment to this jurisdiction,” said Jake Trainor, CEO of the PAL Group of Companies. “We are committed partners in the agency’s ongoing efforts to dismantle migrant smuggling gangs and we are dedicated to working to ensure border security.”

This press release was prepared and distributed by Exchange Income Corporation.

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