FLYHT and Major Chinese Cargo Operator Contract for Additional Installations of AFIRS
June 30 2021 - 7:04AM
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.
About FLYHT Aerospace Solutions
Ltd.
FLYHT provides airlines with Actionable
Intelligence to transform operational insight into immediate,
quantifiable action, delivering industry leading solutions to
improve aviation safety, efficiency, and profitability. This unique
capability is driven by FLYHT’s patented aircraft certified
hardware products including AFIRS™, a satcom aircraft interface
device which enables real-time streaming of flight information,
cockpit voice and black box data streaming and TAMDAR™, which
aggregates and streams airborne weather data in real-time. FLYHT is
headquartered in Calgary, Canada with an office in Littleton,
Colorado, and is an AS9100 Quality registered company. For more
information, view our latest presentation here, or
visit www.flyht.com.
Cautionary Note Regarding
Forward-Looking Statements
Except for statements of historical fact, this
news release contains certain "forward-looking information" within
the meaning of applicable securities law. Forward-looking
information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words, or statements that certain events or
conditions "may" or "will" occur. In particular, forward-looking
information in this press release includes, but is not limited to,
statements with respect to the anticipated/projected revenues and
related matters. Although we believe that the expectations
reflected in the forward-looking information are reasonable, there
can be no assurance that such expectations will prove to be
correct. We cannot guarantee future results, performance, or
achievements. Consequently, there is no representation that the
actual results achieved will be the same, in whole or in part, as
those set out in the forward-looking information.
Forward-looking information is based on the
opinions and estimates of management at the date the statements are
made and are founded on the basis of expectations, assumptions and
hypotheses made by the Company, including, but not limited to
projected revenues. Such forward-looking information is subject to
a variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
anticipated in the forward-looking information. Some of the risks
and other factors that could cause the results to differ materially
from those expressed in the forward-looking information include but
are not limited to: global economic conditions; industry
conditions, and supply chain delays. Readers are cautioned that
this list of risk factors should not be construed as
exhaustive.
The forward-looking information contained in
this news release is expressly qualified by this cautionary
statement. We undertake no duty to update any of the
forward-looking information to conform such information to actual
results or to changes in our expectations except as otherwise
required by applicable securities legislation. Readers are
cautioned not to place undue reliance on forward-looking
information.
Contact Information:
FLYHT Aerospace Solutions Ltd. |
FNK IR LLC |
Alana Forbes |
Matt Chesler, CFA |
Chief Financial Officer |
Investor Relations |
403.291.7437 |
646.809.2183 |
aforbes@flyht.com |
flyht@fnkir.com |
investors@flyht.com |
|
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Flyht Aerospace Solutions (TSXV:FLY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Flyht Aerospace Solutions (TSXV:FLY)
Historical Stock Chart
From Apr 2023 to Apr 2024