FLYHT Receives Follow-On Order from a Long-Time OEM Partner
06 July 2021 - 9:04PM
FLYHT Aerospace Solutions Ltd. (TSX-V: FLY)
(OTCQX: FLYLF) (the “Company” or “FLYHT”) has received a US$338
thousand purchase order for Iridium modems and license fees from a
long-time OEM customer. This order builds upon the relationship
previously discussed in press releases dated July 15,
2014, August 1, 2019 and February 18, 2020.
“Receiving the order from this OEM, who has been
an important partner of FLYHT’s for many years, is a positive sign
of the aviation industry’s recovery,” said Gurjot Bhullar, Manager
of Aircraft Systems at FLYHT. “Following a challenging 2020, we are
excited to once again support our partner and continue to
strengthen our business relationship. We applaud the efforts of the
aviation community and will continue to provide our world-class
customer support and our quality products to aid the industry’s
recovery.”
Under the terms of the existing agreement, the
OEM will be licensing FLYHT’s technology and delivering the
automated flight information reporting system (AFIRS 228S) to their
European airframer customer for three certified aircraft platform
types. FLYHT anticipates shipping all product, and therefore
recognizing revenues, from this order during the third quarter of
2021.
About FLYHT Aerospace Solutions
Ltd.
FLYHT provides airlines with Actionable
Intelligence to transform operational insight into immediate,
quantifiable action, delivering industry leading solutions to
improve aviation safety, efficiency, and profitability. This unique
capability is driven by FLYHT’s patented aircraft certified
hardware products including AFIRS™, a satcom aircraft interface
device which enables real-time streaming of flight information,
cockpit voice and black box data streaming and TAMDAR™, which
aggregates and streams airborne weather data in real-time. FLYHT is
headquartered in Calgary, Canada with an office in Littleton,
Colorado, and is an AS9100 Quality registered company. For more
information, view our latest presentation here, or
visit www.flyht.com.
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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",
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Forward-looking information is based on the
opinions and estimates of management at the date the statements are
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a variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
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and other factors that could cause the results to differ materially
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The forward-looking information contained in
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cautioned not to place undue reliance on forward-looking
information.
Contact Information: |
|
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FLYHT Aerospace Solutions Ltd.Alana
Forbes Chief Financial Officer
403.291.7437
aforbes@flyht.com investors@flyht.com |
FNK IR LLCMatt Chesler, CFAInvestor
Relations646.809.2183flyht@fnkir.com |
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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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