Calgary, Alberta – July 6, 2021 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) has received a US$338 thousand purchase order for Iridium modems and license fees from a long-time OEM customer. This order builds upon the relationship previously discussed in press releases dated July 15, 2014, August 1, 2019 and February 18, 2020.
“Receiving the order from this OEM, who has been an important partner of FLYHT’s for many years, is a positive sign of the aviation industry’s recovery,” said Gurjot Bhullar, Manager of Aircraft Systems at FLYHT. “Following a challenging 2020, we are excited to once again support our partner and continue to strengthen our business relationship. We applaud the efforts of the aviation community and will continue to provide our world-class customer support and our quality products to aid the industry’s recovery.”
Under the terms of the existing agreement, the OEM 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. FLYHT anticipates shipping all product, and therefore recognizing revenues, from this order during the third quarter of 2021.
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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2021 FLYHT Aerospace Solutions Ltd.