Post by
BarneyL on Apr 28, 2022 8:24am
Congratulations!
Star Announces an LOI With Pinnacle Air for the Purchase of the STAR-ISMS Of In-Flight Safety Monitoring Systems for 5 Charter Jets in India 2022-04-28 07:37 ET - News Release Brampton, Ontario--(Newsfile Corp. - April 28, 2022) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") is pleased to announce the signing of a Letter of Intent ("LOI") with Pinnacle Air Pvt. Ltd ("Pinnacle") of India to purchase five (5) units of the STAR-ISMS. (In-Flight Safety Monitoring System) for five (5) of its charter jets. Pinnacle was founded in 2004, is an Indian charter airline based in Delhi that operates passenger charters to destinations across the country, specializing in business class charter flights. Pinnacle Group Chairman, Air Marshal Danzil Keelor, stated "Pinnacle's priority is offering our private jet customers peace of mind by placing the utmost priority on safety. As such, we are delighted to partner with Star for the integration of its in flight safety monitoring system on our various types of aircraft to further enhance our flight safety and operations. As the first business aviation company to do so in India we continue to demonstrate our industry leadership, while also assisting Star with the launch of its program across India." Kevin Dhugga, Executive Vice President of Operations and Sales of Star stated "This LOI for the purchase of 5 units is a major milestone for the Company and its shareholders as it is the first of what we believe will be more to come in 2022. The anticipated successful completion of this LOI with Pinnacle will serve to showcase our aircraft safety and efficiency capabilities, which are now beginning to receive global industry recognition as a result of our sales and marketing efforts at leading air shows and events. Within India itself, our partnership with Pinnacle will both showcase our products and services in the business aviation sector, as well as, potentially having an impact on the Indian commercial aviation market by putting it at the forefront of safety monitoring and efficiency." The Star engineering team is scheduled to be in India for the first Gulfstream aircraft inspection in the second week of May 2022 for the Supplemental Type Certificate (STC) design package.
Comment by
PrincessLeia on Apr 28, 2022 8:38am
Congratulations to Star and their new management. They have done what the old management could not do in a very short period of time! I guess they are not insane after all.
Comment by
Newtechfan on Apr 28, 2022 9:10am
Order or LOI (down payment ?) ? Check Pinacle web site (we are in samll aircarft now )? Reminds me of several LOI announced in the past and which disappeared mysteriously .....after a Private Placement was launched. Same old same old. Just wait for the PP.