The GEO Group Announces Five-Year Contract to Provide Air Operations Support Services for U.S. Immigration and Customs Enforcement
March 12 2024 - 5:00AM
Business Wire
The GEO Group (NYSE: GEO) (“GEO”) announced today that
its wholly-owned subsidiary, GEO Transport, Inc. (“GTI”) has been
awarded a five-year contract, inclusive of option periods, to
provide air operations support services on behalf of U.S.
Immigration and Customs Enforcement (“ICE”), as a subcontractor to
CSI Aviation, Inc. (“CSI Aviation”) which has been selected by ICE
as the prime contractor. CSI Aviation is a veteran-owned aviation
services company, founded in 1979, with a long-standing record as a
leading provider of aviation support services to the U.S. federal
government. GTI first began providing air operations support
services to ICE as a subcontractor to CSI Aviation, under a
nine-month emergency contract starting in July of 2023. The new
five-year contract is expected to generate approximately $25
million in annualized revenues for GEO.
George C. Zoley, GEO’s Executive Chairman, said, “Our GTI
transportation division has a long-standing record providing secure
transportation services for our government agency partners across
the United States. The award of this new five-year contract to
provide air operations support services on behalf of ICE is a
testament to GTI’s service delivery and safety record since its
founding in 2007. We look forward to continuing to work with CSI
Aviation as we jointly deliver high-quality services under this
important contract.”
About The GEO Group
The GEO Group, Inc. (NYSE: GEO) is a leading diversified
government service provider, specializing in design, financing,
development, and support services for secure facilities, processing
centers, and community reentry centers in the United States,
Australia, South Africa, and the United Kingdom. GEO’s diversified
services include enhanced in-custody rehabilitation and
post-release support through the award-winning GEO Continuum of
Care®, secure transportation, electronic monitoring,
community-based programs, and correctional health and mental health
care. GEO’s worldwide operations include the ownership and/or
delivery of support services for 100 facilities totaling
approximately 81,000 beds, including idle facilities and projects
under development, with a workforce of up to approximately 18,000
employees.
Use of forward-looking statements
This news release may contain “forward-looking statements”
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, and the U.S. Private Securities Litigation Reform
Act of 1995. Readers are cautioned not to place undue reliance on
these forward-looking statements and any such forward-looking
statements are qualified in their entirety by reference to the
following cautionary statements. All forward-looking statements
speak only as of the date of this news release and are based on
current expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements, including
statements regarding GTI’s five-year contract to provide air
operations support services on behalf of ICE, as a subcontractor to
CSI Aviation. Risks and uncertainties that could cause actual
results to vary from current expectations and forward-looking
statements contained in this press release include, but are not
limited to, risk factors contained in GEO’s filings with the U.S.
Securities and Exchange Commission, including its Form 10-K, 10-Q
and 8-K reports. GEO disclaims any obligation to update or revise
any forward-looking statements.
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