FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) announced today that they have signed an agreement with an existing customer to equip up to an additional 15 aircraft per year over the next five years with the AFIRS™ solution, to meet the demands of the airline’s growing business.
Bill Tempany, CEO of FLYHT, stated, “We are thrilled that this customer is growing the number of AFIRS-equipped aircraft in use, in our family of Chinese customers who now number over 25 airlines. Their operations fit well with the products and services we sell to our clients who respond to the ever increasing demands of cargo operations, while keeping close contact with the crews and operations departments to ensure maximum utilization of their fleets. We are very pleased to continue our growth in China and around the globe.”
The agreement is expected to generate revenue of approximately USD $3.6 million to FLYHT, provided all deliverables are shipped over the five-year term of the agreement. In tandem with the agreement signing, FLYHT received a purchase order from this cargo operator for the first four aircraft under this agreement.
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