|By Marketwired .||
|July 17, 2014 10:00 AM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 07/17/14 -- FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") reported today that it has signed a contract with the national carrier of an African airline for the sale and delivery of the Automated Flight Information Reporting System ("AFIRS(TM)") for its fleet of eleven planes. The AFIRS 220 will be installed on three B737-500 aircraft, while the AFIRS 228 will provide solutions for DHC-8-Q400, B737-700 and ERJ190 aircraft.
The 34-year-strong airline has selected AFIRS to maintain its key operating principles of quality, security, safety and the environment. AFIRS will provide real-time flight data monitoring and the airline will benefit from 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.
The airline will also use FLYHT's leading technology; with FLYHTLink for iPad connectivity in the cockpit and FLYHTStream to enable real-time data streaming in the event of an abnormal situation.
"The Customer is clearly committed to running a safe and profitable airline and by installing the AFIRS technology they have increased awareness of their operations, helping them make more informed, key decisions in real time if necessary," stated Matt Bradley, President of FLYHT.
FLYHT will provide equipment and services to the airline over a five-year contract with automatic yearly renewals after the initial term. The Company has the necessary Supplemental Type Certificates for the Q400 and B737s, though needs to secure an STC for the ERJ190 which is anticipated to take up to three months. Installations are anticipated to begin in the third quarter.
If FLYHT completes installation on all eleven contracted aircraft and provides recurring service for the full term of the agreement, gross revenue to FLYHT will be approximately $1,485,550 USD, 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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FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
Chief Financial Officer
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