Cobham, the FTSE 250 defence and security technology group, has won a five-year contract extension in Papua New Guinea for its Fly-in Fly-out (FIFO) aviation services to transport workers to remote mines.
The contract extension from Ok Tedi Mining, worth AUD$85m, will see Cobham run flights for over 800 passengers a week between the Tabubil mine site and other major centres, flying over half a million kilometres every year.
"This extension strengthens our 22-year relationship with OTML and its operation in Papua New Guinea," said Cobham's Chief Executive Officer Bob Murphy.
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"We will also increase the number of aircraft we operate in the region from two to three Bombardier Dash 8 in early 2014, further enhancing our operations," he said.
Cobham, which has a market capitalisation of around £3.1bn, works in a variety of sectors including aviation services, satellite communications an defence electronics.
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