FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") reported today that it has signed a contract for the Automated Flight Information Reporting System (AFIRS™) 228 on a fleet of four A320 aircraft.
The African-based airline is keen to use FLYHT's suite of tools including automated Out, Off, On and In times, FLYHT's new web-based flight following Aircraft Situational Display ("ASD"), engine and airframe exceedance reports, real-time flight data monitoring, quick access recorder flight data, global voice communications enabled by the Iridium satellite network and added AFIRS features on demand.
"We continue to receive interest from African Airlines," stated Bill Tempany, CEO of FLYHT. "Our sales director just returned from the African Airlines Association conference where there is a continued drive to improve safety and operational efficiency. AFIRS is the solution to meet their needs."
FLYHT will provide equipment and services to the airline over a five-year contract with automatic yearly renewals after the initial term. FLYHT already has the required supplemental type certificates ("STCs") to install on the A320 aircraft. Installations are anticipated to begin mid-June 2015.
If FLYHT completes installation on all four contracted aircraft and provides recurring revenue services for the full term of the agreement, gross revenue to FLYHT will be approximately $710,000 USD, excluding optional services.
About FLYHT Aerospace Solutions Ltd.
FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHT's triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The Dragon is FLYHT's latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.
AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.
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Source: FLYHT Aerospace Solutions Ltd.
Date: May 8, 2015