FLYHT Re-signs Loyal Customer to Five-Year Contract

FLYHT Re-signs Loyal Customer to Five-Year Contract

Calgary, Alberta – May 22, 2018 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce a Software as a Service (SaaS) contract renewal with an existing customer.

The value of this renewal agreement with the airline is USD $1.03 million, assuming the Company provides services over the full term of the five (5) year contract.

The airline operates in North America and uses the Automated Flight Information Reporting System (AFIRSTM) and associated UpTimeTM capabilities to monitor and manage its aircraft on many short-haul flights. The suite of services FLYHT provides to this operator across its fleet has expanded over the years, beginning with voice and data communications through the Iridium network including real-time aircraft tracking with FLYHTLogTM. AFIRS also provides an integrated quick access recorder (QAR). The airline then added airframe exceedances and engine monitoring through FLYHTHealthTM and has achieved significant benefits from this combined functionality.

“This contract renewal demonstrates the value FLYHT technology provides to our customers,” remarked FLYHT’s COO, Matieu Plamondon. “Our expanded relationship with this airline is possible because FLYHT’s technology saves aircraft operators money, streamlines their operations and enhances their operational safety.”

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-based 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
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.

Filter News Release By Year

Featured News

FLYHT Awarded Western Innovation Initiative (WINN) Loan of $2.76 Million
FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) has...
FLYHT Appoints Jeffrey Rex VP of Sales & Marketing
Company Announces Management Changes Calgary, Alberta – November 23, 2018 – FLYHT Aerospace...
FLYHT Reports Third Quarter 2018 Results
Calgary, Alberta – November 7, 2018 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX:...
Customer Selects FLYHTHealth™ Product to Monitor Engine Exceedances in Real-time
In conjunction with AFIRS, FLYHTHealth gives airlines system-critical insights for proactive...
FLYHT Aerospace Solutions Ltd. Schedules Third Quarter Conference Call
Calgary, Alberta – November 2, 2018 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX:...

Total Customer Flights

As of November 30, 2018

Flight hours with AFIRS onboard

As of November 30, 2018

FLY.V on TSX.V

 Updated: 2018-12-10 - 16:00:00 Symbol: FLY.V 
Open: $1.13
Volume: 46003
Last: $1.10
Day Hi: $1.13
Change: $+0.02
Day Low: $0.99

FLYLF on OTC QX

 Updated: 2018-12-10 - 16:00:00 Symbol: FLYLF 
Open: $0.86
Volume: 5575
Last: $0.80
Day Hi: $0.86
Change: $-0.05
Day Low: $0.74