Calgary, Alberta – January 23, 2020 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) announced preliminary sales orders and operational highlights for the fourth quarter ended December 31, 2019.
Fourth Quarter 2019 and Recent Operational Highlights
“2019 has been a momentous year for our business, and the preliminary insight we have into our fourth quarter results based on our operational success indicates that we ended the year and entered 2020 with significant operational momentum,” said Tom Schmutz, CEO. “Operationally, the quarter was highlighted by a large contract we recently secured with WestJet, which adds US$6.2 million to our sales order backlog and adds a top-tier North American airline to our growing customer list. Given we just completed integrating the assets we acquired from Panasonic Avionics Corporation into our business in the third quarter, it’s particularly encouraging to see our real-time weather business expanding with the contract and follow-on amendment we secured with the Canadian government.
“We look forward to building upon the momentum generated by our operational progress in the fourth quarter of 2019 as we shift our focus to the full year 2020.”
About FLYHT Aerospace Solutions Ltd.
FLYHT improves aviation safety, efficiency and profitability by providing airlines, leasing companies, owners, operators and original equipment manufacturers with real-time insights into how their aircraft are performing. The company’s products include AFIRSTM (Automated Flight Information Reporting System), a satellite communications (Satcom) aircraft interface device (AID) which enables real-time streaming of flight information, aircraft tracking and health monitoring, fuel management, and black box data streaming, as well as TAMDARTM (Tropospheric Airborne Meteorological Data Reporting), which aggregates and streams airborne weather data in real-time. FLYHT is headquartered in Calgary, Canada with an office in Littleton, Colorado and is an AS9100 Quality registered company. For more information, visit www.flyht.com.
|FLYHT Aerospace Solutions Ltd.
Chief Financial Officer
Adelaide Capital Markets Inc.
|USA Investor Relations:
Gateway Investor Relations
Matt Glover or Charlie Schumacher
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