Calgary, Alberta – January 11, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) and Bermuda Aviation Asset Management Ltd dba Coral Jet (“Coral Jet”), today announced the signing of an agreement to equip Coral Jet’s future fleet of seven A319/320 aircraft with AFIRS™ and to provide SaaS services from FLYHT’s Actionable Intelligence suite of applications.
Coral Jet is a start up airline that will serve the Caribbean, United States, and Canada with plans to increase its aircraft fleet over the coming years.
Wes Gardner, Director of Flight Operations for Coral Jet, stated, “Our team has used the AFIRS solution in previous operations and the flexibility of the hardware and software components, coupled with the reliability of the products and the professionalism of FLYHT staff, have always served us well. As a new operation, we have the ability to start with good habits. FLYHT’s Actionable Intelligence applications will reinforce the necessary fuel management practices we are striving for.”
Bill Tempany, FLYHT’s Chief Executive Officer, stated, “Coral Jet is the latest upstart airline to adopt FLYHT’s solutions to help them gain a competitive advantage in an increasingly competitive industry. Our team is committed to adding functionality to help Coral Jet, and our 80-plus customers, secure and maintain that market lead in their respective markets.”
Installations will start early in the second quarter of 2022. The contract is expected to generate revenue of approximately US$760,000 over the five year contract term, with potential for increases 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, 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 information, view our 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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