Calgary, Alberta – November 13, 2014 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) reported today that it has signed a contract for the Automated Flight Information Reporting System (“AFIRSTM”) with a North American airline specializing in cargo operations. The AFIRS 220 is already installed on two of the airline’s recently acquired Boeing 767-300 aircraft, which they purchased from another FLYHT customer. After understanding what the technology and its benefits were, the Customer purchased three additional AFIRS 228 for their B767-200 aircraft.
The airline will take advantage of the suite of FLYHT’s tools including automated Out, Off, On and In times, flight following, engine exceedance reports, quick access recorder flight data, global voice communications enabled by the Iridium satellite network and added AFIRS features on demand.
“This is an example of an airline that acquired aircraft possessing AFIRS units from another customer and then realized the technology potential to improve their business and operations,” stated Matt Bradley, President of FLYHT. “After we approached them to explain the value of AFIRS they were keen on turning on the service in the existing units and proceeding with additional installations of the AFIRS 228.”
FLYHT will provide equipment and services to the airline over a five-year contract with automatic yearly renewals after the initial term. The Company has the necessary Supplemental Type Certificates for the B767-300s, though needs to secure an STC for the B767-200s, which is anticipated to take up to one month.The airline will be able to turn on services immediately for the aircraft already equipped with the AFIRS 220.
If FLYHT completes installation on all five contracted aircraft and provides recurring service for the full term of the agreement, gross revenue to FLYHT will be approximately $593,250 USD, excluding optional services.
About FLYHT Aerospace Solutions Ltd.
FLYHT 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, FLYHT’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 Dragon is FLYHT’s latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.
AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.
FLYHT Aerospace Solutions Ltd.
Nola Heale, CA
Chief Financial Officer
The Howard Group Inc.
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