|By Marketwired .||
|August 20, 2014 07:08 AM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 08/20/14 -- Editor's Note: There is a photo associated with this release.
FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) (OTCQX: FLYLF) (the "Company" or "FLYHT") is very pleased to announce that the board of directors of FLYHT have appointed Mr. Barry Eccleston as a director of the Company, effective August 19, 2014. Mr. Eccleston is President of Airbus Americas, Inc.
Mr. Eccleston currently oversees all efforts of Airbus in North America. He joined Airbus from Honeywell where he served as Vice President in different departments and global regions with responsibility for the $1.4 billion business aviation, turboprop, regional fan and military engine businesses. Prior to that, he held increasingly senior positions with Rolls-Royce for 29-years, culminating as President and CEO Rolls-Royce Canada and President and CEO of International Aero Engines, in which Rolls-Royce was a major shareholder.
Bill Tempany, CEO stated, "We are very excited to have a person of Barry's caliber join our Board at this important time in FLYHT's evolution. The Company is entering a growth phase, and we are confident his contribution will be significant to our success in the coming years. We have worked for years to develop technologies to help the aviation industry improve its financial performance and - with the guidance of our new board members - we hope to increase the adoption rate of our technologies."
Mr Eccleston commented, "The aviation industry needs to embrace beneficial new technologies and I believe that FLYHT's Automated Flight Information Reporting System ("AFIRS") and related products are at the forefront of this movement. I have been impressed with FLYHT's technology since I first saw it and I am convinced that AFIRS will help all facets of aviation by improving performance, enhancing efficiency and allowing an already extremely safe industry, to become even safer. I joined the board to help FLYHT continue to drive utilization of its industry leading technologies and to give back to an industry that has been good to me throughout my career."
Mr. Eccleston holds a bachelor's degree in aeronautical engineering from Loughborough University and completed the International Executive program at the Institute of Management Development, Switzerland.
Barry is a private pilot, he has served as Chairman of the Washington, D.C. branch of the RAeS, and is a past member of the Flight Safety Foundation Board of Governors. He is currently President of The Wings Club, and was a member of NBAA's Associate Member Advisory Council, and IS a member of the British-American Business Association Board of Directors.
As part of his appointment to FLYHT's board of directors Mr. Eccleston 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.
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FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
Chief Financial Officer
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(888) or (403)-221-0915
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