|By Marketwired .||
|May 29, 2014 07:06 AM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 05/29/14 -- FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) (the "Company" or "FLYHT") reported today that it has signed a contract with a Nigerian airline for the sale and delivery of the Automated Flight Information Reporting System ("AFIRS(TM)") 220 on five Boeing 737 aircraft.
The airline will use AFIRS to provide real-time flight data monitoring. The customer will benefit from all AFIRS 220 features including automated Out, Off, On and In times, airframe and engine exceedances, flight tracking, automated engine data collection for real time trending, fuel management and satellite voice communications.
"Our recent meetings at the African Airlines Association conference in Kenya have proven to be invaluable and we continue to build on these relationships to increase our client base," remarks Matt Bradley, President of FLYHT. "This latest customer will see the benefits of improved operations and increased safety that AFIRS provides and we look forward to working with them."
FLYHT will provide equipment and services to the airline over a three-year contract with automatic yearly renewals after the initial term. Installations are anticipated to begin in the third quarter of 2014. If FLYHT completes installation on all contracted aircraft and provides recurring service for the full term of the agreement, gross revenue to FLYHT will be approximately $523,800USD, excluding optional services.
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(TM) UpTime(TM), 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(TM), 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.
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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.
FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
Chief Financial Officer
The Howard Group Inc.
(888) or (403)-221-0915
Bristol Institutional Relations
Kin Communications Inc.
(866) or (604) 684-6730
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