BEIJING, Oct. 24, 2018 /PRNewswire/ -- AirMedia Group Inc.
("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of
out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market, today announced
that Beijing Yuehang Tianyi Electronic Information Technology Co.,
Ltd, a subsidiary of the Company, has signed strategic cooperation
agreements with Qingdao Airlines, Chengdu Airlines, and Yunnan
Hongtu Airlines (the "Agreements").
The Agreements with the airlines outlined detailed plans to
establish collaborations ranging from the deployment of Wi-Fi
systems onboard airplanes, operational management of air-to-ground
satellite communications, development and management of
air-to-ground Internet platforms, operational management of
in-flight multimedia entertainment and other emerging value-added
in-flight Internet services.
Mr. Herman Man Guo, Chairman and
CEO of AirMedia, commented, "The consummation of these strategic
collaborations with three airlines signals a new chapter in our
history, as we have realigned the Company's focus to empowering
airlines to exceed the expectations of their customers. These
collaborations with the airlines consolidate our efforts in shaping
our strategies to meet the advent of a new era of in-flight
connectivity, an area where our early planning identified strategic
importance. As part of our early planning, we established the first
regional satellite network in China enabling commercial satellite
communications over China, the
rest of Asia-Pacific, and
North America, and developed a
comprehensive solution based on the Gilat dual-band antenna
tailored to growing commercial applications of the first KA
satellite launched by China Satellite Communication Co. Ltd. In a
number of tests completed recently, our solution impressed
participating airlines with a swift delivery of quality multimedia
entertainment on different models of airplanes. Presently, we are
reaching out to additional airlines of various sizes to discuss
Mr. Guo further commented that he expected that the market would
be enthused once the Company's solution obtains airworthiness
certificate. Currently the Company is pursuing airworthiness
certificate in China, the U.S. and
About Beijing Yuehang Tianyi Electronic Information
Technology Co., Ltd
Working with global partners, Beijing Yuehang Tianyi Electronic
Information Technology Co., Ltd provides a comprehensive solution
to in-flight connectivity including pre-installation and
modification of onboard electrical equipment.
About AirMedia Group Inc.
Incorporated in 2007 and headquartered in Beijing, China, AirMedia Group Inc. (AMCN) is
an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market. AirMedia sells
advertisements on the routes operated by several Chinese airlines
and at Sinopec's service stations in China. AirMedia also has concession rights to
operate the Wi-Fi systems on trains administered by eight railway
administrative bureaus in China as
well as on many long-haul buses in China. For more information, please visit
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including but not limited to, the Company's business
strategies and initiatives as well as the Company's business plans;
the Company's future business development, results of operations
and financial condition; expected changes in the Company's revenue
and certain cost or expense items; trends and competition in
China; general economic and
business conditions in China; and
other risks detailed in the Company's filings with the Securities
and Exchange Commission. These forward-looking statements involve
known and unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
For more information, please contact:
Director, Investor Relations
AirMedia Group Inc.
Ascent Investor Relations LLC
SOURCE AirMedia Group Inc.