FLYHT Receives Purchase Order for 7 Military Transport Aircraft
FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) (the "Company" or "FLYHT") is pleased to report that it has received a purchase order from a major avionics integrator for AFIRS 228 equipment for seven Lockheed C-130 Hercules aircraft owned and operated by a middle eastern country's air force. This is the second air force in the region to adopt AFIRS as part of their avionics modernization programs. The total value of the hardware portion of the contract is in excess of $250,000 USD and an ongoing service agreement will be negotiated with the end users prior to delivery of the upgraded aircraft.
Shipments of the products are anticipated to commence in the third quarter of this year with services commencing in 2014 with the end users.
Global Military Fixed Wing Market Assessment
Globally there are more than 5,000 C-130 aircraft in operation and a majority of those aircraft will likely require avionics upgrades in the next few years.
"We are excited to continue our success in the global C-130 upgrade programs and look forward to supplying the major global avionic integrators with the many benefits AFIRS 228 provides airlines," stated Bill Tempany, President & Chief Executive Officer. "This is the second middle eastern air force to employ FLYHT's technology. We feel this is the start of a long and fruitful relationship with the customer in providing industry leading solutions to their customers."
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Source : FLYHT Aerospace Solutions Ltd.