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.
Source: FLYHT Aerospace Solutions Ltd.
Date: Mar 6, 2014