Calgary, Alberta – May 25, 2023 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced two new commercial agreements with Sichuan Airlines, the largest airline in Western China, and Bahamasair, the national airline of the Bahamas, for satcom hardware and recurring software services. The combined value of the two contracts is approximately $1.2 million in revenue over the next five years.
Sichuan Airlines, a long-standing FLYHT customer, has agreed to purchase 10 additional AFIRS 228 units for installation on its fleet of Airbus A320 aircraft that it is converting from passenger to cargo in order to service the growing demand for freight services in China. FLYHT was awarded the contract after a competitive bidding process that included the incumbent satcom provider.
Bahamasair has re-engaged with FLYHT after pausing during the pandemic, re-activating three ATR aircraft with the full suite of SaaS services including voice, aircraft situational display (ASD) and health monitoring. The multi-year contract anticipates the installation of AFIRS 228 hardware units and related software services for additional ATR aircraft over the term of the contract.
“The two agreements signal the ongoing recovery of global aviation and the significant value of FLYHT’s hardware and software solutions to airlines of all shapes and sizes,” commented Kent Jacobs, President and Interim CEO. “Whether it’s Sichuan Airlines in Asian freight or Bahamasair providing an essential service in the Caribbean, both airlines see the benefits of real-time, actionable information in terms of safety, operational and fuel efficiency, and improved customer satisfaction. Importantly, FLYHT’s solutions are proving to be highly competitive from a price, service, and technological perspective, helping us win and maintain long term customers. We’re looking forward to the installation and the AFIRS 228 units and reactivation of software services for these valued customers over the coming months.”
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 that 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.
|FLYHT Aerospace Solutions Ltd.||FNK IR LLC||Satichi Consulting Inc.|
|Alana Forbes||Matt Chesler, CFA||Daniel Kim|
|Chief Financial Officer||Investor Relations||Corporate Development|
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