FLYHT Announces Completion of AFIRS Installation on Initial China Express ARJ-21 Aircraft

 

Calgary, Alberta, Canada - June 27, 2022 - FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the "Company" or "FLYHT") today announced that the factory successful installation and testing has been completed for the first of 20 AFIRS 228S units on ARJ-21 aircraft ordered by China Express Airlines Co. Ltd., China's first private regional airline. All tests were successful have been completed and the aircraft is planned to enter commercial service today. As previously communicated in September 2020, China Express will take delivery of the first 20 of an expected commitment for up to 100 of the newest aircraft type available in China over the next several years.take delivery of 20 ARJ21 aircraft, with an expected commitment up to 100 aircraft to be delivered over the next several years. The ARJ21 is the newest Chinese developed and built aircraft.

Bill Tempany, CEO of FLYHT, stated, "It has been a long time in the making, but today I am proud to say that we have successfully completed this first installation of AFIRS on the ARJ-21 and that our technology will be be in the skies over China todayoperational on this new aircraft type. We see the launch introduction of this aircraft typethe ARJ21 into service with China Express as the first step in what we expect to be an expanding relationship with China Express as a continuing step in our relationship as we provide consistent reporting across the different aircraft types in their fleet. involving the installation of AFIRS on ARJ-21 aircraft sold in other countries and the provision of ongoing service with identical reporting to China Express' other aircraft types that are already equipped with AFIRS. We FLYHT are remains committed to our customers in China and our workto working with COMAC with on the CAAC STC installation of AFIRS."

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT's TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT's wholly owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

Cautionary Note Regarding 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", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the anticipated/projected revenues and related matters. Although FLYHT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. FLYHT cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company, including, but not limited to projected revenues. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to: global economic conditions; industry conditions, and supply chain delays. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. FLYHT undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

 

Contact Information:

FLYHT Aerospace Solutions Ltd.  FNK IR LLC                       

Alana Forbes     Matt Chesler, CFA

Chief Financial Officer   Investor Relations

403.291.7437     646.809.2183                  

aforbes@flyht.com    flyht@fnkir.com

investors@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.

 

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