Airmedia Grp. ADS, Each Representing Two Ordinary Shares (MM) (NASDAQ:AMCN)
Historical Stock Chart
1 Year : From Nov 2018 to Nov 2019
BEIJING, Nov. 20, 2018 /PRNewswire/ -- AirMedia Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), a leading 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 Gilat Satellite Networks Ltd. (NASDAQ: GILT) ("Gilat"), a strategic partner of the Company's subsidiary, Air Esurfing Co. Ltd. ("ARE"), had received the DO-160 certification for Gilat's Ku/Ka dual-band aero terminal. Providing opportunities to HTS operators, IFEC service providers and airlines leveraging IFC opportunities with the flexibility of uses of both the Ku or Ka bands, Gilat's success marked a significant milestone in the collaborations between Gilat and ARE.
Mr. Grant Zhou, COO of AirMedia commented that ARE and Gilat have built a strategic collaboration upon ARE's innovative ability to integrate Gilat's dual-band terminal into the commercial IFC and IFEC solutions in China to accommodate and empower communications with satellite ChinaSat 16 and future ChinaSat 18 on the Ka band. Bolstered by Gilat's success, ARE's current efforts on getting its IFC and IFEC solutions STC and VSTC certified for Boeing 737NG and Airbus 320 airplane families will be put on an accelerated track. Mr. Zhou further commented that once they were STC and VSTC certified, ARE would become the exclusive provider of the solutions globally.
Mr. Herman Guo, CEO of AirMedia Group commented that as an official endorsement of performance, Gilat's becoming DO-160 licensed would further accelerate ARE's march to get IFC and IFEC solutions STC and VSTC certified for Boeing 737NG and Airbus 320 airplane families. Since both airplane families represent noticeable leading market shares, they become the right choices for ARE to focus on for commercializing its IFC and IFEC solutions and providing in-flight Wi-Fi to millions of travelers.
DO-160, Environmental Conditions and Test Procedures for Airborne Equipment is a standard for the environmental testing of avionics hardware. It is published by the Radio Technical Commission for Aeronautics(RTCA). The environmental test conditions and test procedures contained within the standard may be used in conjunction with applicable equipment performance standards, as a minimum specification for environmental conditions, which can ensure an adequate degree of confidence in performance during use aboard an air vehicle.
STC (Supplementary Type Certificate): It is necessary to obtain STC certificate to install the aviation equipment on the aircraft and STC certificates differ according to different aircraft types. VSTC (Validation of STC) is needed in China to install the aviation equipment on the aircraft.
Air Esurfing Co., Ltd. (the "ARE") is an IFC operator and IFEC service provider in China. Empowered with the ability to provide Internet and Wi-Fi services over Ku/HTS and Ku/Ka, to develop and manage Portal, APP, and IFEC platform and content, and to deliver other value-added services inflight, ARE is highly recognized for providing tailored and satisfactory services and products to a variety of airlines to establish an ecosystem evolving around inflight connectivity.
Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With 30 years of experience, Gilat designs and manufactures cutting-edge ground segment equipment, and provides comprehensive solutions and end-to-end services, powered by Gilat's innovative technology. Delivering high value competitive solutions, Gilat's portfolio comprises of a cloud based VSAT network platform, high-speed modems, high performance on-the-move antennas and high efficiency, high power Solid State Amplifiers (SSPA) and Block Upconverters (BUC).
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 http://www.airmedia.net.cn.
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
View original content:http://www.prnewswire.com/news-releases/airmedias-strategic-partner-gilat-received-the-do-160-certification-300753583.html
SOURCE AirMedia Group Inc.