FLYHT to Install Real-Time Flight Data Monitoring System on Five Boeing 737's Under New Contract
29 May 2014 - 9:06PM
Marketwired
FLYHT to Install Real-Time Flight Data Monitoring System on Five
Boeing 737's Under New Contract
CALGARY, ALBERTA--(Marketwired - May 29, 2014) - 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™") 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™ 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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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, CGAChief
Financial Officer403-291-7427tfrench@flyht.comInvestor RelationsThe
Howard Group Inc.Dave BurwellSenior Associate(888) or
(403)-221-0915dave@howardgroupinc.comBristol Institutional
RelationsGlen AkselrodPresident(905) 326-1888glen@bristolir.comKin
Communications Inc.Fred Leigh(866) or (604)
684-6730FLY@kincommunications.com
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