Customer Extends FLYHT Contract

Customer Extends FLYHT Contract

Calgary, Alberta – July 16, 2018 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce a contract renewal with an existing customer.

The value of this renewal agreement with the airline is USD $3.1 million, assuming the Company provides services over the full term of the five (5) year contract.

The airline operates in Australasia and uses the Automated Flight Information Reporting System (AFIRSTM) and associated UpTimeTM capabilities to monitor and manage its aircraft. The operator has experienced significant benefits through the customized engine reporting FLYHT provides and will continue to use the FLYHTLogTM and FLYHTHealthTM software as a service (SaaS) products to optimize efficiencies.

“This airline operates a mixed fleet in a challenging environment,” remarked FLYHT’s COO, Matieu Plamondon. “FLYHT’s SaaS products are integrated with this customer’s day to day flight support operations to help them maintain safety and improve efficiencies.”

About FLYHT Aerospace Solutions Ltd.

FLYHT’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: FLY:TSX.V; FLYLF:OTCQX). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRSTM) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTimeTM Cloud data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.

Contact Information

FLYHT Aerospace Solutions Ltd.
Alana Forbes
Chief Financial Officer
403-291-7437
aforbes@flyht.com

Adelaide Capital Markets Inc.
Deborah Honig
647-203-8793
deborah@adelaidecapital.ca
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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.

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Total Customer Flights

As of July 31, 2018

Flight hours with AFIRS onboard

As of July 31, 2018

FLY.V on TSX.V

 Updated: 2018-08-15 - 16:00:00 Symbol: FLY.V 
Open: $1.12
Volume: 11230
Last: $1.10
Day Hi: $1.16
Change: $-0.01
Day Low: $1.1

FLYLF on OTC QX

 Updated: 2018-08-15 - 16:00:00 Symbol: FLYLF 
Open: $0.89
Volume: 11200
Last: $0.84
Day Hi: $0.89
Change: $-0.06
Day Low: $0.84