Calgary, Alberta – April 20, 2012 — AeroMechanical Services Ltd. (TSX-V: AMA) (the “Company” or “AMA”) has signed a contract with the Nigerian Civil Aviation Authority (“NCAA”) to provide a Safety Management System Dashboard (“SMS Dashboard”).
The SMS Dashboard is an enhancement to the flight following system the Company installed in 2011, as announced April 7, 2011. The SMS Dashboard will expand the current tracking and real-time alerts for the NCAA to monitor all Nigerian registered aircraft equipped with satellite based tracking solutions and data collection hardware. The information will also feed into AMA’s UpTime system, where it can be reviewed as needed.
“AeroMechanical Services has been a valuable partner,” stated Dr. Harold Demuren, Director General of the NCAA. “The Company continues to support our initiatives to improve aviation safety inNigeria. The unique SMS Dashboard will significantly aid in our goal for increased real-time aircraft monitoring and build on the systems previously established.”
The SMS Dashboard works to further leverage the data collected from aircraft. Not only does the SMS Dashboard report aircraft exceedance and operation alerts to the airlines, it allows the NCAA, as the regulatory body in the country, to use the data to identify and manage risks. With the data at its fingertips, the NCAA can improve aviation safety by monitoring the compliance of all airlines in the country.
“We are happy to expand our services for the NCAA,” stated Derek Taylor, Sales Director at AMA. “The extension of the flight following centre into an SMS Dashboard allows multiple users to benefit from the data coming off aircraft.”
AMA will provide equipment, services and training to the NCAA over a five-year contract. The SMS Dashboard installation will commence immediately. When AMA completes installation, the gross revenue to AMA will be approximately $406,525 USD.
This disclosure as it relates to this agreement is subject to the following disclaimer:
Fulfillment of the contract terms may be affected if there are any changes to government statutes, regulations or rules of the applicable governing bodies. The contract terms and values disclosed herein are based on the original information available to AMA upon execution of the contract and are subject to change. For the actual revenue earned, please see AMA’s financial statements including its revenue recognition policy disclosed within the notes to the Consolidated Annual Financial Statements.
About AeroMechanical Services
AeroMechanical Services Ltd., under the brand name FLYHTTM, provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real-time. If an aircraft encounters an emergency, AMA’s triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The company has been publicly traded on the TSX Venture Exchange since 2003 under the trading symbol AMA.
AFIRS, UpTime, FLYHT, FLYHTStream and aeroQ are trademarks of AeroMechanical Services Ltd.
Contact Information
AeroMechanical Services Ltd.
Thomas R. French, CGA
VP Finance and CFO
403-291-7427
tfrench@flyht.com
Join us on social media!
www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
