Calgary, Alberta – August 20, 2014 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is very pleased to announce that the board of directors of FLYHT have appointed Mr. John Belcher as a director of the Company, effective August 19, 2014. Mr. Belcher was formerly Chairman and Chief Executive Officer of ARINC Incorporated (“ARINC”). He joined ARINC in 1997 and grew it from a $200M business to a billion dollar global company with services in over 150 counties and orchestrated its sale twice during his tenure. Mr. Belcher currently serves on several other boards around the world and is a leading authority in aviation and air transport.
Mr. Belcher is deeply involved in his industry and community and is a very welcome addition to FLYHT’s board of directors as the Company expands globally in the aviation industry. Mr. Belcher’s prior experience includes positions as President and CEO, Hughes Aircraft of Canada, Ltd.; Vice President Hughes Aircraft Company; President and CEO, Thompson-Hickling Aviation; Senior Vice President, SPAR/PRIOR Data Sciences; Executive Director, Transport Canada; and Director General, Supply and Services Canada.
Bill Tempany, CEO of FLYHT stated, “We were delighted when John accepted a position on our board to help steer the Company through what we expect to be a strong growth phase. John’s success with ARINC, his Canadian roots and prior work with Transport Canada and as CEO of Hughes Aircraft of Canada gives him a unique understanding of the challenges businesses like ours face in managing commercial goals in a very rigid regulatory environment. The contacts and knowledge John will contribute to our board of directors will bring invaluable insight and experience that management and our employees will benefit from and help us further drive the success of our growing business collectively.”
Mr. Belcher stated, “Technology has been my passion throughout my career and when I was offered a position on the board of FLYHT, it was its industry leading technology that piqued my interest. Aviation needs to move faster in the adoption of new technologies and I see FLYHT as a front runner in that change. I am looking forward to an exciting adventure with FLYHT as its technologies are rolled out globally. “
John presently serves on seven other boards including LandMark Aviation, Signalhorn, NanoVapor, Anne Arundel Health System, World Trade Center Institute, Governor’s Work Force Investment Board, and Cyber Reliant.
He has also received many business leadership awards including the Canadian National Transportation Award.
As part of his appointment to FLYHT’s board of directors Mr. Belcher will be granted incentive stock options of the Corporation for a total of 75,000 common shares of the Corporation at a price of $0.40 per share for a period of three years, under the formal stock option plan approved at the Annual General Meeting held in June 2014, subject to regulatory approval. A maximum of 10% of the issued shares are reserved for issuance for the Corporation’s Stock Option Policy. The options vest immediately and are subject to a four month hold period.
This director appointment is made subject to the final approval of the TSX Venture Exchange.
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.
Contact Information
FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
Chief Financial Officer
403-291-7427
tfrench@flyht.com
Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com
Bristol Institutional Relations
Glen Akselrod
President
(905) 326–1888
glen@bristolir.com
Kin Communications Inc.
Fred Leigh
(866) or (604) 684-6730
FLY@kincommunications.com
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