FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") reported today that it has signed two contracts for the Automated Flight Information Reporting System (AFIRS™). Both are with airlines that acquired aircraft with the AFIRS 220 already onboard and decided to utilize the technology's benefits. One is with an African operator on a Bombardier DHC-8; the other is with a Caribbean carrier on a Boeing 767-300.
Both airlines will take advantage of the suite of FLYHT's tools including automated Out, Off, On and In times, flight following, engine exceedance reports, quick access recorder flight data, global voice communications enabled by the Iridium satellite network and added AFIRS features on demand.
"FLYHT is pleased to announce the activation of a DHC-8 aircraft delivered to a customer in Africa. The aircraft had AFIRS installed while at a previous operator, the new customer saw the value of our services and immediately signed a five year agreement for services," stated Bill Tempany, CEO of FLYHT. "These are small wins for the Company as the airlines realize the benefits of the system and we'll pursue the opportunity to provide AFIRS for the other aircraft in the fleets. Both new customers plan to grow their fleets with AFIRS as part of their long term operational tools."
FLYHT will provide equipment and services to the airlines over a five-year contract with automatic yearly renewals after the initial term. The Company has the necessary Supplemental Type Certificates for both aircraft types and the airlines will be able to turn on services immediately.
For the two contracted aircraft with recurring service for the full term of the agreement, gross revenue to FLYHT will be approximately $240,950 USD, excluding optional services.
Source: FLYHT Aerospace Solutions Ltd.
Date: Apr 10, 2015