CALGARY, AB–(Marketwired – April 20, 2017) – FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the sale of the Automated Flight Information Reporting System (AFIRS™) to a new commercial airline customer in the People’s Republic of China.
“FLYHT is excited to announce its latest customer in China, this airline is very interested in our technology to support their operations,” commented Michael Fang, FLYHT’s Vice President China Sales. “Members of FLYHT’s executive team met with several current and prospective customers in the region last week where we are seeing steady demand for our solutions to meet airlines’ satellite communications and data needs.”
The initial contract for the sale of AFIRS hardware is valued at approximately USD $1.9 million assuming FLYHT provides the hardware over the full term of the five (5) year agreement. FLYHT’s data services may be added in the future, further increasing the value of the contract.
FLYHT has all the necessary Supplemental Type Certificates (STC’s) to complete installation on the designated A320 aircraft within this contract. Installations are anticipated to begin in the third quarter of 2017.
About FLYHT Aerospace Solutions Ltd.
FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 70 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.5 million aggregate flight hours and 1.6 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRSon 95% of transport category aircraft.
Join us on social media!
www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.flyht.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
FLYHT Aerospace Solutions Ltd.
Nola M. Heale, CPA, CA
Chief Financial Officer
403-291-7425
nheale@flyht.com
Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com