FLYHT Signs New AFIRS 220 Contract with Asian Charter Airline
March 05 2014 - 6:11AM
Marketwired
FLYHT Signs New AFIRS 220 Contract with Asian Charter Airline
CALGARY, ALBERTA--(Marketwired - Mar 5, 2014) - FLYHT Aerospace
Solutions Ltd. (TSX-VENTURE:FLY) ("FLYHT") reported today that it
has signed a contract with an Asian charter airline for the
Automated Flight Information Reporting System ("AFIRS™") 220.
The contract requires FLYHT to install the AFIRS 220 on four
Bombardier CRJ 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, flight tracking, automated engine data collection for real
time trending and satellite voice communications.
FLYHT will provide equipment and services to the airline over a
five year contract with automatic yearly renewals after the initial
term. Installations are anticipated to begin in the first 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 $452,000 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™ 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.comwww.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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