FLY Flyht Aerospace Solutions Ltd

CALGARY, ALBERTA--(Marketwired - Jun 19, 2014) - Sierra Nevada Corporation ("SNC") and FLYHT Aerospace Solutions Ltd., (TSX-VENTURE:FLY) ("FLYHT") are pleased to announce that the companies have renewed their strategic relationship by updating their license and manufacturing agreement and adding a value-added reseller agreement.

The relationship involves FLYHT's Automated Flight Information Reporting System, or AFIRS™ product and services. The AFIRS system operates on multiple aircraft types and provides functions including aircraft position, on-demand streaming of black box data, voice and text messaging, and data collection and transmission. AFIRS sends that information to its companion, UpTime™, the ground service product, which stores and transfers the data to the customer in real time. Aircraft operators can use this information to increase safety, improve service, and enhance profitability.

FLYHT will continue to lead sales and service activities in all civil aviation markets, and SNC will lead sales in the United States and NATO military and government manned and unmanned aircraft markets.

"We are pleased and excited to renew our relationship with FLYHT. We believe that the need for AFIRS in the military and government aircraft industry is significant and the multi-feature offering of the AFIRS unit is critical in today's budget-constrained environment. AFIRS' can improve the efficiencies of operating and maintaining aircraft while also reducing the operation and maintenance cost and improving flight safety." said Greg Cox, corporate vice president for SNC's Communication, Navigation and Surveillance/Air Traffic Management business area.

"We look forward to a long and mutually beneficial relationship with SNC," said Bill Tempany, CEO of FLYHT. "We are truly motivated by reframing our relationship with SNC in a way that will see both companies thrive from the work we have done on AFIRS. We are particularly excited to have SNC as a strong partner to bring the benefits of AFIRS to both the military and unmanned aircraft marketplaces which would otherwise be out of reach for our company."

About Sierra Nevada Corporation

Sierra Nevada Corporation (SNC), headquartered in Sparks, Nev., is one of America's fastest growing private companies based on its significant expansion and reputation for rapid, innovative, and agile technology solutions in electronics, aerospace, avionics, space, propulsion, micro-satellite, aircraft, communications systems and solar energy. Under the leadership of CEO Fatih Ozmen and President Eren Ozmen, SNC has a workforce of over 3,000 personnel in 30 locations in 16 states. SNC's six unique business areas are dedicated to providing leading-edge solutions to SNC's dynamic customer base.

SNC is also the Top Woman-Owned Federal Contractor in the United States. Over the last 30 years under the Ozmen's leadership, SNC has remained focused on providing its customers the very best in diversified technologies to meet their needs and has a strong and proven track record of success. The company continues to focus its growth also on the commercial sector through internal advancements in dual-use applications and outside acquisitions, including the emerging markets of renewable energy, telemedicine, nanotechnology, cyber and net-centric operations. For more information on SNC visit www.sncorp.com and follow us on Facebook at Sierra Nevada Corporation.

Media Contact: Julie Ardito at julie.ardito@sncorp.com or 775-849-6968.

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.

Join us on social media!

www.facebook.com/flyht

www.twitter.com/flyhtcorp

www.slideshare.net/flyhtcorp

www.youtube.com/flyhtcorp

www.flyht.com

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.Matt Bradley, President403-444-6691mbradley@flyht.com

Flyht Aerospace Solutions (TSXV:FLY)
Historical Stock Chart
From Mar 2024 to Apr 2024

Flyht Aerospace Solutions (TSXV:FLY)
Historical Stock Chart
From Apr 2023 to Apr 2024