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Flair Airlines and FLYHT Partner for Fuel Efficiency and Greenhouse Gas Emissions-related Hardware and Services

Flair Orders AFIRS Edge Hardware and SaaS Services

for its Entire Fleet of Boeing 737-8 MAX Aircraft

 CALGARY, ALBERTA – June 25, 2023. Today, Flair Airlines, Canada’s leading independent ultra-low-cost airline, and FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF), an aerospace technology company, announced an agreement for the purchase of FLYHT’s innovative hardware and services. FLYHT will enable Flair to closely monitor its fuel and greenhouse gas emissions for every phase of flight operations, including when an aircraft is at the gate, taxiing, at idle, during takeoff and at cruise. The data allows Flair to find opportunities to increase fuel efficiency and reduce the carbon footprint on its fleet of Boeing 737 MAX aircraft.

The two companies are headquartered in Alberta, Canada, with Flair headquartered in Edmonton, and FLYHT headquartered in Calgary. Flair Airlines serves dozens of cities across Canada, the U.S., and Mexico with an ultra-low-cost model and an expanding fleet of Boeing 737 MAX aircraft.

“Flair is Canada’s greenest airline, and so we are excited to initiate this program with FLYHT, whose AFIRS Edge suite of products support our greenhouse gas emissions tracking and aggressive reductions targets,” said Stephen Jones, President and CEO of Flair Airlines. “We’re proud to support a fellow Albertan aerospace company, headquartered in Calgary, which is a new base of operations for us and one of increasing importance. We also look forward to realizing benefits from the resulting improvements in operational insight and efficiencies in both customer service and on time performance.”

“This order is a significant milestone for FLYHT as we have now formally begun to commercialize our innovative 5G-enabled AFIRS Edge solution,” said Kent Jacobs, President and Interim CEO of FLYHT. “We look forward to supporting Flair Airlines as they seek to take full advantage of the power of our real-time data solutions to support their decision making.”

This is the first agreement for FLYHT’s AFIRS Edge product to be installed on a Boeing 737 Max aircraft. The AFIRS Edge is an industry-first, 5G-enabled, wireless quick access recorder, which transmits data on the ground through cellular networks. The AFIRS Edge also provides aircraft interface device functionality and allows for remote system configuration and health management as well as over-the-air updates.

The agreement includes recurring SaaS for ClearPort, FuelSense, and AFIRS Gateway services. ClearPort is a turn management optimizer that helps improve on time performance  and provides Auxiliary Power Unit fuel burn management. By maximizing the efficiency of turns, aircraft utilization can be increased and continual improvement opportunities can be identified. FuelSense provides insight into how airlines are performing against their operational standards, providing additional guidance towards fuel efficiency and emissions reductions. Finally, the AFIRS Gateway system provides a portal for data and device configuration, distribution, and management.

The contract is valued at approximately US$3.6 million, provided that all products and services are delivered over the 5-year term of the agreement. FLYHT’s AFIRS Edge products were developed with the support of Alberta Innovates and with repayable funding support from PrairiesCan through its Western Innovation Initiative.

About Flair Airlines

Flair Airlines is Canada’s leading low-fare airline and its greenest airline, on a mission to provide affordable air travel that connects them to the people and experiences they love. With an expanding fleet of Boeing 737 aircraft, Flair is growing to serve over 35 cities across Canada, the U.S., Mexico and the Caribbean. For more information, please visit www.flyflair.com.

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.

 Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to projected revenues and related matters. Although FLYHT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. FLYHT cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company, including, but not limited to projected revenues. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to global economic conditions; industry conditions, and supply chain delays. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. FLYHT undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Contact Information:

FLYHT Aerospace Solutions Ltd.FNK IR LLCSatichi Consulting Inc.
Alana ForbesMatt Chesler, CFADaniel Kim
Chief Financial OfficerInvestor RelationsCorporate Development
403.291.7437646.809.2183416.728.5630
investors@flyht.comflyht@fnkir.comdkim@flyht.com
Flair Airlines
media@flyflair.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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