Calgary, Alberta – October 6, 2021 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) announced today that it has received an additional purchase order for Iridium modems and license fees from a long-time OEM partner. This order is valued at approximately US$1.5 million and builds upon the relationship previously discussed in press releases dated July 15, 2014, August 1, 2019, February 18, 2020 and July 6, 2021.
“Receiving this additional order from our valued OEM partner continues to signal the recovery of the aviation industry,” said Gurjot Bhullar, Manager of Aircraft Systems at FLYHT. “Each follow-on order further proves the value of FLYHT’s offering and strengthens our relationship with our partner. During these tumultuous times, we are committed to continuing to support our partner in delivering impactful avionics products as the world at large tries to find the new normal.”
Under the terms of the existing agreement, the OEM customer will be licensing FLYHT’s technology and delivering the Automated Flight Information Reporting System (AFIRS 228S) to their European airframer customer for three certified aircraft platform types. The orders require shipment throughout the second half of 2021 and the first quarter of 2022.
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 and TAMDAR™, 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, view our latest presentation here, or visit www.flyht.com.
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FLYHT Aerospace Solutions Ltd. FNK IR LLC
Alana Forbes Matt Chesler, CFA
Chief Financial Officer Investor Relations
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