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Gulfstream International Group (GIA) to Receive $8.5 Million in Federal Subsidies

|Includes: Gulfstream Intl Group, Inc. (GIA)

The U.S. Department of Transportation (“DOT”) previously awarded Gulfstream International new two-year contracts as the Essential Air Service provider for the communities of Bradford, PA; DuBois, PA; Franklin/Oil City, PA; Parkersburg, WV; and Jamestown, NY. The company operates flights from all five cities to Cleveland.

Today, Gulfstream International announced that it will receive $8.5 million in federal subsidies as part of the Essential Air Service Program. The federal funds were released under the Essential Air Service Program, which was instituted to ensure that small communities maintain a minimal level of scheduled air service. The DOT currently subsidizes commuter airlines to serve approximately 140 rural communities across the country that otherwise would not have access to any scheduled air service.

David Hackett, CEO of Gulfstream, said, “We believe we provide the right fit to these communities; as a niche operator with a unique aircraft size, we are able to efficiently connect these smaller markets to expanded air service. We strive to offer excellent customer service in all our markets, and will continue to seek out new markets for growth, particularly those represented by the Essential Air Service Program.”

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