Calgary, Alberta, Canada – June 7, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced that successful installation and testing has been completed for the first of 20 AFIRS 228S units on ARJ21 aircraft ordered by China Express Airlines Co. Ltd., China’s first private regional airline. All tests have been completed and the aircraft is planned to enter commercial service today. As communicated in September 2020, China Express will take delivery of 20 ARJ21 aircraft, with an expected commitment up to 100 aircraft to be delivered over the next several years. The ARJ21 is the newest Chinese developed and built aircraft.

Bill Tempany, CEO of FLYHT, stated, “It has been a long time in the making, but today I am proud to say that we have successfully completed this first installation of AFIRS on the ARJ21 and that our technology will be operational on this new aircraft type. We see the introduction of the ARJ21 into service with China Express as a continuing step in our relationship as we provide consistent reporting across the different aircraft types in their fleet. FLYHT remains committed to our customers in China and to working with COMAC on the CAAC STC installation of AFIRS.”

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the anticipated/projected revenues and related matters. Although FLYHT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. FLYHT cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company, including, but not limited to projected revenues. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to: global economic conditions; industry conditions, and supply chain delays. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. FLYHT undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

 

Contact Information:

FLYHT Aerospace Solutions Ltd.                 FNK IR LLC                       

Alana Forbes                                                   Matt Chesler, CFA

Chief Financial Officer                                    Investor Relations

403.291.7437                                                    646.809.2183

aforbes@flyht.com                                          flyht@fnkir.com

investors@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.

Calgary, Alberta, Canada and Bermuda – May 31, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) and Coral Jet, a startup airline that will service the Caribbean, United States and Canada, today announced that Coral Jet has placed an initial order to become the launch customer for the AFIRS Edge™. The Edge will be added to Coral Jet’s existing AFIRS™ satcom products, as previously announced on January 11, 2022.

The AFIRS Edge is an aircraft interface device (“AID”), pushing aircraft data to EFB applications, providing airlines with Wireless Quick Access (WQAR) capabilities, all while serving as a gateway on the aircraft for critical real-time information and onboard data storage. With powerful onboard analytics capabilities, the Edge leverages innovative technology to allow complex analytics to be developed and deployed more efficiently than conventional updates. The Edge also serves as a data port for the Actionable Intelligence services such as fuel management, aircraft health monitoring and real-time engine data reporting. These tools will help airlines recover from the pandemic while monitoring and reducing fuel burn and thereby greenhouse gas emissions.

FLYHT’s development of the Edge as well as its suite of Actionable Intelligence tools was developed with repayable funding support from PrairiesCan through its Western Innovation Initiative.

Kent Jacobs, President of FLYHT stated, “We are very excited to have a launch customer for the Edge product line and plan to complete the STC process for the A319/320/321 and the B737NG this year. Our AFIRS Edge is a light weight, powerful avionics product that provides airlines with a wireless QAR (Quick Access Recorder), AID functions, and ACMS capabilities that will help airlines improve their operational efficiency. Completing these two STCs this year will allow us to meet the demand we are seeing in the marketplace. We see this as a significant step forward in the rollout of this product.”

Wes Gardner, Director of Flight Operations of Coral Jet said, “FLYHT products have always been ahead of their time, and we see the Edge product line solving most of our data and pilot communication needs. We look forward to the new products being developed for the Edge to help us run an efficient and environmentally friendly airline.”

This contract is valued at approximately $100,000 USD over the five-year contract term, with potential for increase as Coral Jet’s fleet grows.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the anticipated/projected revenues and related matters. Although FLYHT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. FLYHT cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company, including, but not limited to projected revenues. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to: global economic conditions; industry conditions, and supply chain delays. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. FLYHT undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

 

Contact Information:

FLYHT Aerospace Solutions Ltd.                 FNK IR LLC                       

Alana Forbes                                                   Matt Chesler, CFA

Chief Financial Officer                                    Investor Relations

403.291.7437                                                      646.809.2183

aforbes@flyht.com                                          flyht@fnkir.com

investors@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.

Calgary, Alberta – May 16, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced that its executive team will participate in the following upcoming investor conferences:

MicroCap Rodeo Spring Into Action Best Ideas Conference, May 17, 2022 (Virtual): CFO Alana Forbes will present virtually at 4:30 pm ET (2:30 pm MT) on Tuesday, May 17, and management will participate in one-on-one meetings throughout the conference. Investors can register for the conference at https://microcaprodeo.com/signup and stream the presentation live at https://www.webcaster4.com/Webcast/Page/2882/45583.

LD Micro Invitational XII, June 7-9, 2022 (Westlake Village, CA): CEO Bill Tempany and President Kent Jacobs will present in person at 11:00 am PT (12:00 pm MT) on Wednesday, June 8, and will participate in one-on-one meetings throughout the conference. Investors can stream the presentation live at https://www.meetmax.com/sched/event_82067/conference_home.html.

Emerging Equities VIP Event at the RBC Canadian Open, June 11, 2022 (Toronto): CEO Bill Tempany will meet in person with investors on Saturday, June 11.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

 

Contact Information:

FLYHT Aerospace Solutions Ltd.                             FNK IR LLC

Alana Forbes                                                               Matt Chesler, CFA

Chief Financial Officer                                                Investor Relations

403.291.7437                                                                 646.809.2183

aforbes@flyht.com                                                      flyht@fnkir.com

investors@flyht.com

 

Join us on social media!

www.twitter.com/flyhtcorp

https://www.linkedin.com/company/flyht/

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.

Calgary, Alberta – May 4, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce it has granted incentive stock options for an aggregate of 518,715 common shares, subject to regulatory approval, to employees, officers and directors under the stock option plan approved at the Annual and Special Meeting held on May 4, 2022.

The stock options are exercisable at a price of $0.74 per share. The options will vest 1/3 on each of May 4, 2023, 2024 and 2025, and will expire on May 4, 2026. A maximum of 10% of the issued and outstanding shares are reserved under the Company’s stock option plan. The options, and any common shares issued upon exercise of the stock options, are subject to a four-month resale restriction.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

Contact Information:

FLYHT Aerospace Solutions Ltd.                             FNK IR LLC

Alana Forbes                                                               Matt Chesler, CFA

Chief Financial Officer                                                Investor Relations

403.291.7437                                                                646.809.2183

aforbes@flyht.com                                                      flyht@fnkir.com

investors@flyht.com

 

Join us on social media!

www.twitter.com/flyhtcorp

https://www.linkedin.com/company/flyht/

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.

Calgary, Alberta – May 4, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) announced today that it has received a purchase order with a value of US$5.65 million for Iridium modems and license fees from a long-time OEM partner.  This order builds upon the relationship previously discussed in press releases dated July 15, 2014August 1, 2019February 18, 2020July 6, 2021, and October 6, 2021.

Bill Tempany, CEO of FLYHT stated, “This most recent order shows the strength of the recovery that is unfolding on the OEM side of the airline industry. We are very happy that our relationship to install these very successful software and intellectual property products on aircraft continues to result in deployments of AFIRS products around the world. We are seeing strong recovery of our customers in North America and in Europe, with recovery lagging in SE Asia and China. We expect to see these markets recover late 2022 into early 2023, as living with covid becomes the norm. This latest order allows FLYHT to exit the pandemic in a strong position, ready to deliver our new products and services to existing and new customers.”

Under the terms of the existing agreement, the OEM customer will be licensing FLYHT’s technology and delivering the AFIRS 228S system to their European airframer customer for three certified aircraft platform types. The products are scheduled for delivery throughout the remainder of 2022.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to global economic and industry conditions. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Contact Information:

FLYHT Aerospace Solutions Ltd.                             FNK IR LLC

Alana Forbes                                                              Matt Chesler, CFA

Chief Financial Officer                                               Investor Relations

403.291.7437                                                                646.809.2183

aforbes@flyht.com                                                     flyht@fnkir.com

investors@flyht.com

 

Join us on social media!

www.twitter.com/flyhtcorp

https://www.linkedin.com/company/flyht/

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.

Highest Revenue Quarter in Two Years

 

Calgary, Alberta – May 3, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today reported financial results for the first quarter ended March 31, 2022 (“Q1 2022”). All figures are Canadian dollars unless otherwise stated.

Financial Summary

 Three Months Ended
 March 31, 2022
  

2022

 

2021

Increase/ Decrease

Revenue           $5,030,657              $2,691,275                      87%
 SaaS               1,675,072                1,539,825                         9%
 Hardware              2,109,598                   831,704                     154%
Licensing               1,134,706                    182,181                    523%
Technical Services                   111,281                    137,565                     -19%
Gross Margin                     54.7%                      56.5%                -80 bps
EBITDA              (937,630)            (1,000,616)                         6%
Net Income (Loss)           (1,284,347)                (912,068)                     -40%
EPS – Basic                     (0.03)                      (0.03)                  (0.00)
EPS – Diluted                     (0.03)                      (0.03)                  (0.00)

 

Management Commentary

“FLYHT is turning the page to the post-pandemic period, with financial results that are beginning to reflect the combined effect of the multi-year transformation of our company and more recently some normalization of commercial aviation activity,” said Bill Tempany, Interim CEO. “We delivered our highest revenue quarter in two years driven by all three of our largest businesses – SaaS, Hardware and Licensing. Our EBITDA was negative $938K but if you take out one-time expenses related to the CrossConsense acquisition, bad debt reserve which should not repeat with the recovery happening, the AFIRS™ Edge development, and exchange losses from a strengthening Canadian dollar, our EBITDA would be a negative $388K. While not ideal, we are working hard on making this turn around as our new products get released to the market.”

Added Tempany, “One major area that FLYHT is particularly well positioned to assist the aviation industry is climate, where we are focused on being the premier supplier of products and services to assist our customers in their efforts to meet or exceed net-zero targets. We are supporting customers in multiple ways, whether it be helping airlines reduce unnecessary fuel burn on the ground, or regulators and the planet as a whole better understand what is changing and where. The move to sustainable aviation fuel (“SAF”) will only further increase the importance of data and insights to on aircraft performance, and so we are very optimistic about how FLYHT can be part of an industry solution and how this growing area of global importance can be a megatrend driving continued performance of FLYHT’s business in the years ahead.”

Operating Results

Revenue increased by 87% to $5,030,657 compared to Q1 2021, driven by growth in all three of our largest businesses, and $186,360 of contribution from CrossConsense which was consolidated into the Company’s results beginning March 17, 2022. Excluding CrossConsense, revenue increased 80% compared to Q1 2021.

Licensing revenue increased by 523% to $1,134,706 due to a higher number of modems and associated license fees ordered for delivery in comparative periods. Hardware revenue increased by 154% to $2,109,598 due to the reopening of international travel, particularly seen in North America, resulting in customers moving forward with shipments of 34 contracted installation kits versus 17 in Q1 2021. SaaS revenue increased by 9% to $1,675,072 and due to a higher number of flights and flight hours. Technical Services revenue decreased by 2% to $111,281.

Gross margin was 55% of revenue compared to 57% in Q1 2021. The decrease in gross margin was due primarily to changes in the mix of revenue sources during the quarter.

Operating expenses increased by 43% from Q1 2021, with all categories contributing to the increase – Distribution expenses by 37%, Administration expenses by 71%, and Research and Development and certification engineering expenses by 27%. This increase contributed to an increase in bad debt reserve, labor and legal expenses related to the pursuit and acquisition of CrossConsense and the elimination of government grants in 2022.

EBITDA[1] loss totaled $937,630 compared to EBITDA loss of $1,000,616 in Q1 2021.

Net loss was $1,284,347 compared to Net loss of $912,068 in Q1 2021.

Balance Sheet and Liquidity

Cash and short-term investments were $3,326,656 at March 31, 2022, compared to $4,520,591 at December 31, 2021.

Trade and other receivables increased to $3,700,553 compared to YE 2021, and Trade payables and accrued liabilities increased by 91% to $3,255,540 compared to YE 2021. The combination of the addition of CrossConsense working capital balances calculated as part of the acquisition purchase price allocation, in tandem with increased sales in Q1 and associated costs resulted in an increase in both the receivables and payables balances.

Conference Call Information

FLYHT will discuss its first quarter 2022 financial results at its Annual and Special Meeting to be held virtually via webinar at 2:00 pm MT (4:00 pm ET) on Wednesday, May 4, 2022. The webinar will include a brief presentation followed by a question-and-answer session. Questions can be emailed in advance to investors@flyht.com.

The meeting and earnings discussion will be held online, accessible at: https://incommconferencing.zoom.us/webinar/register/WN_QgGqW1gDQSWc-XrxkBzzFw

The meeting will also be accessible by phone. The listen-only toll-free number is 1-800-319-4610 in Canada and the U.S. and 1-604-638-5340 outside of Canada and the U.S.

An archive of the conference call will be posted on the Investor Relations section of FLYHT’s website as soon as it is available from the webinar provider.

Additional Information

FLYHT’s Q1 2022 Report, which contains more detailed information including the CEO’s Letter to Shareholders, Management Discussion and Analysis and Financial Statements, can be accessed on the Company’s website. The MD&A and Financial Statements have also been filed with SEDAR and will be accessible at www.sedar.com.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the anticipated/projected revenues and related matters. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company, including, but not limited to projected revenues. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, and supply chain delays. Readers are cautioned that this list of risk factors should not be construed as exhaustive. 

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Contact Information:

FLYHT Aerospace Solutions Ltd.                            FNK IR LLC

Alana Forbes                                                              Matt Chesler, CFA

Chief Financial Officer                                               Investor Relations

403.291.7437                                                                646.809.2183

aforbes@flyht.com                                                     flyht@fnkir.com

investors@flyht.com

 

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[1] EBITDA: defined as earnings before interest, income tax, depreciation and amortization (a non-GAAP financial measure). EBITDA is provided to aid in analysis and profitability comparisons among companies and industries, by segregating operating results from the effects of financing and capital expenditures.

FLYHT and MBS prototype developed for secure wireless avionics software vault and onboard data loading solution to enable customers to fully comply with new security requirements

 

Calgary, Alberta and Gilching Germany May 3, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced a cooperation with MBS Electronic Systems GmbH (“MBS”), a leading provider of secure data loading solutions that enable compliant avionics software maintenance and safer flight operations. The two companies have collaborated to develop a secure wireless avionics software and onboard data loading solution with the goal of enabling customers to fully comply with new security requirements.

Stated Kent Jacobs, President of FLYHT, “Airlines have been seeking secure data loading that makes for a lower cost and quicker installation and meets all regulator requirements. This partnership with MBS enables us to combine our AFIRS Edge platform, an advanced secure avionics data repository, with an advanced avionics data loader capability provided by the experts at MBS. Together, this creates a streamlined, secure solution for airlines to utilize, complying with secure data requirements and improving operating efficiency.”

Added Dr. Charles Nicholls, Technical Director at MBS, “As a leader in the secure portable data loader field, we have seen increased demand from airlines for an onboard solution that meets the guidance of ARINC 645-1. Together with FLYHT, we can service this growing need among the airlines.”

Added Willie Cecil, Sales Director at FLYHT, “Both companies’ technologies are so mature that an initial prototype solution was developed and will be demonstrated in Memphis. We are excited by airline interest in our solution, and we plan to qualify and certify the solution within the next six months.”

FLYHT and MBS plan to showcase the new solution to airlines at the annual Aviation Maintenance Conference in Memphis on May 10-12, 2022. This collaboration offers the opportunity to evaluate the strength of a combined solution, with the intention to solidify a financial arrangement following the Memphis event.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

About MBS Electronic Systems GmbH

Based in Gilching, Germany, MBS provides the e-enabled data loading system of choice for many of the world’s largest and most prestigious airlines. With innovative technologies and unrivalled customer support and cooperation, MBS continually improves their product features and adapts to the changing requirements of the industry. MBS provides a secure, cost effective, reliable data loading solution with a total commitment to quality and customer satisfaction. For more information, visit www.mbs-electronics.com.

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to global economic and industry conditions. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

 

Contact Information:

FLYHT Aerospace Solutions Ltd.                             FNK IR LLC

Alana Forbes                                                               Matt Chesler, CFA

Chief Financial Officer                                                Investor Relations

403.291.7437                                                                646.809.2183

aforbes@flyht.com                                                      flyht@fnkir.com

investors@flyht.com

 

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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.

Calgary, Alberta – April 28, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced that it will discuss its first quarter 2022 financial results at its Annual and Special Meeting to be held virtually via webinar at 2:00 pm MT (4:00 pm ET) on Wednesday, May 4, 2022. The webinar will include a brief presentation followed by a question-and-answer session. Questions can be emailed in advance to investors@flyht.com.

The meeting and earnings discussion will be held online, accessible at:

https://incommconferencing.zoom.us/webinar/register/WN_QgGqW1gDQSWc-XrxkBzzFw

The meeting will also be accessible by phone. The listen-only toll-free number is 1-800-319-4610 in Canada and the U.S. and 1-604-638-5340 outside of Canada and the U.S.

An archive of the conference call will be posted on the Investor Relations section of FLYHT’s website as soon as it is available from the conference call provider.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, delivering industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by FLYHT’s patented aircraft certified hardware products including AFIRS™, a satcom aircraft interface device which enables real-time streaming of flight information, cockpit voice and black box data streaming, AFIRS Edge, a state-of-the-art 5G WQAR and satellite data communications device, and TAMDAR™ and the FLYHT-WVSS-II™, which deliver airborne weather and humidity 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 info, view our latest presentation here, or visit www.flyht.com.

Contact Information:

FLYHT Aerospace Solutions Ltd.                               FNK IR LLC

Alana Forbes                                                               Matt Chesler, CFA

Chief Financial Officer                                                Investor Relations

403.291.7437                                                                 646.809.2183

aforbes@flyht.com                                                      flyht@fnkir.com

investors@flyht.com

 

Join us on social media!

www.twitter.com/flyhtcorp

https://www.linkedin.com/company/flyht/

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.

Calgary, Alberta – April 26, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) announced today that management will participate in the Planet MicroCap Showcase 2022 at the Bally’s Hotel & Casino in Las Vegas, Nevada on May 3-5, 2022. Kent Jacobs, President, and Alana Forbes, CFO, will host a presentation on Wednesday, May 4, 2022 at 3:30 PM PT (4:30 PM MT), followed by a Q&A session, and will also be available for meetings with investors during the conference. All existing and prospective shareholders are invited to attend the conference or listen to the webcast to learn more about the Company.

DATE: Wednesday, May 4, 2022

TIME:  3:30 PM PT (4:30 PM MT)

LINK:   https://www.webcaster4.com/Webcast/Page/2862/45088

A live audio webcast and archive of the presentation will be available using the dedicated link above and in the Investors section of the FLYHT website at www.flyht.com/investors.

If you would like to attend the Planet MicroCap Showcase 2022 and book a meeting with management, registration can be found at https://planetmicrocapshowcase.com/signup, in the Investors section of the FLYHT website, or by contacting FLYHT’s IR team at flyht@fnkir.com.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com

 

Contact Information:

FLYHT Aerospace Solutions Ltd.                                         FNK IR LLC

Alana Forbes                                                                           Matt Chesler, CFA

Chief Financial Officer                                                           Investor Relations

403.291.7437                                                                           646.809.2183

aforbes@flyht.com                                                                 flyht@fnkir.com

investors@flyht.com

 

Join us on social media!

www.twitter.com/flyhtcorp

https://www.linkedin.com/company/flyht/

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.

Calgary, Alberta – April 19, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) announced today that Alana Forbes, CFO, and Michael Li Fang, Vice President of China Operations, will present at the Global Chinese Financial Forum (GCFF) on Thursday, April 21, 2022, at 9:10 AM PT (10:10 AM MT | 12:10 PM ET).

EVENT:           Global Chinese Financial Forum, Investing in Innovation

DATE:             Thursday, April 21, 2022

TIME:              9:10 AM PT (10:10 AM MT | 12:10 PM ET)

REGISTER:    https://gcff-apr-2022.eventbrite.ca/?aff=FLY

GCFF is the largest conference that caters to the Chinese investment community in North America. Hosted by NAI Interactive Ltd., the bilingual online event will feature public and private company investment opportunities and will be broadcast in English and Mandarin Chinese.

The conference is virtual, with no cost or restrictions to attend. For more information on GCFF, please visit: https://nai500.com/events/ or contact FLYHT’s IR team at flyht@fnkir.com.

An archived link to the presentation will be made available approximately one week after the live event under the investors section of the FLYHT website at www.flyht.com/investors.

 

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com

 

Contact Information:

FLYHT Aerospace Solutions Ltd.                                       FNK IR LLC

Alana Forbes                                                                         Matt Chesler, CFA

Chief Financial Officer                                                        Investor Relations

403.291.7437                                                                         646.809.2183

aforbes@flyht.com                                                              flyht@fnkir.com

investors@flyht.com

 

Join us on social media!

www.twitter.com/flyhtcorp

https://www.linkedin.com/company/flyht/

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.