FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) (the "Company" or "FLYHT") reported today that it has signed a contract with a Nigerian airline for the sale and delivery of the Automated Flight Information Reporting System ("AFIRS™") 220 on five Boeing 737 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, airframe and engine exceedances, flight tracking, automated engine data collection for real time trending, fuel management and satellite voice communications.
"Our recent meetings at the African Airlines Association conference in Kenya have proven to be invaluable and we continue to build on these relationships to increase our client base," remarks Matt Bradley, President of FLYHT. "This latest customer will see the benefits of improved operations and increased safety that AFIRS provides and we look forward to working with them."
FLYHT will provide equipment and services to the airline over a three-year contract with automatic yearly renewals after the initial term. Installations are anticipated to begin in the third 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 $523,800USD, excluding optional services.
Source: FLYHT Aerospace Solutions Ltd.
Date: May 29, 2014