FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) (OTCQX: FLYLF) (the "Company" or "FLYHT") is pleased to announce the sale of its Automated Flight Information Reporting System (AFIRS™) and FLYHTLog™ services to Azur Havacilik A.S (Azur Aviation), based in Antalya, Turkey.
The value of FLYHT's agreement with Azur Aviation is USD $2.1 million, assuming the Company provides hardware over the full term of the five (5) year contract. Additional subscription data services may be added in the future, further increasing the value of the sales contract.
FLYHT has all of the necessary Supplemental Type Certificates (STC's) to complete installation on Azur Aviation's fleet of B767, B737 and B757 aircraft. Installations are anticipated to begin in the first quarter of 2018.
"FLYHT will provide an advanced and innovative solution for Azur's long-range communication needs and for complying with GADSS standards," said Mr. Salih Dinc, Engineering Manager of Azur Havacilik. "In fact, our airline will exceed those standards with FLYHT's solution." Mr. Dinc added, "Their solution will also enable our mixed fleet of aircraft to transmit data in a similar format, helping us reduce downline costs related to translating data."
"Azur Aviation is FLYHT's first customer in the Middle East for 2017, which was one of our corporate goals for this year," said David Perez, the Company's Vice President of Sales and Marketing. Mr. Perez added, "Azur is a recognized airline in the region and our agreement with them helps establish a firmer foothold for FLYHT in the region."
Source: FLYHT Aerospace Solutions Ltd.
Date: Oct 17, 2017