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FLYHT Aerospace Solutions Ltd V.FLY

Alternate Symbol(s):  FLYLF

FLYHT Aerospace Solutions Ltd. provides solutions for the aviation industry. The Company's aircraft certified hardware products include Automated Flight Information Reporting System (AFIRS), AFIRS Edge, Tropospheric Airborne Meteorological Data Reporting (TAMDAR) and FLYHT-WVSS-II. AFIRS is an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a 5G wireless quick access recorder (WQAR), aircraft interface device (AID), and aircraft condition and monitoring system (ACMS). TAMDAR system is a sensor device installed on aircraft that captures temperature, atmospheric pressure, winds aloft, icing, turbulence, and relative humidity. FLYHT-WVSS-II is an externally mounted aircraft sensor that detects and reports water vapor as relative humidity. The Company's wholly owned subsidiary, CrossConsense, offers skilled services to the commercial aviation industry.


TSXV:FLY - Post by User

Post by CF105on Jan 25, 2024 6:04pm
135 Views
Post# 35846039

Canadian weather data revenue and a what's up doc from ECCC

Canadian weather data revenue and a what's up doc from ECCCIt is interesting to see how the revenue from the 2019 contract with ECCC has grown. Initially it was estimated to be worth $166,000 (installations, testing, data collection for a period of time) but, according to information found at search.open.canada.ca, the total revenue seems to have increased by some $260,000.

Sept. 18, 2019... "In the first phase of the contract, valued at CAD$63,000, specialized AMDAR software (which measures temperature and wind on commercial aircraft) will be installed and run on FLYHT’s Automated Flight Information Reporting System (AFIRSTM) Satellite Communication System, accessing information from the aircraft data bus and preparing specially encoded messages for transmission to the Meteorological Service. The estimated total value of the contract, including options, is CAD$166,000."

The original contract had no competitors as FLYHT is the sole provider of the hardware. If memory serves, FLYHT approached the ECCC shortly after buying the Tamdar product from PWS.

https://search.open.canada.ca/contracts/?contracts%5B0%5D=org_name_en%3ATransport+Canada&sort=contract_value+desc&search_text=flyht&page=1

I find it really hard to follow the contract amendments since they aren't dated, but $425,650 seems to be the highest amended value, presumably it is the most recent, and seems to be a cumulative total to date.

$166,000 + 130,284 + $130,284 = $426,568.

In the values shown as amendments, the two identical $130,284 amounts could be for two year's worth of data in the two most recent years. 

During 2020, when COVID caused a huge reduction in flights and, therefore, in the collection of Tamdar weather data, FLYHT opted to "temporarily license complimentary TAMDAR weather data to meteorological agencies worldwide for non-commercial use through its commercial partner, Synoptic Data PBC (“Synoptic”). This would account for the missing revenue during 2020 and 2021.

Around about the time the UK order went through, management did make a comment (was it in the CC?) about continuing extensions to the ECCC contract.

Perhaps after NASA finalizes the details of its contract for FLYHT weather data, the Canadian agreement will be freshly written. Even if the move is made to the WVSS-II (instead of the Tamdar sensor), it will still be a FLYHT exclusive.

From the contract descriptions...

Work Description: Rental of aircraft     
Work Description: Scientific services     

Additional Comments: Acquisition and Delivery of Aircraft Meteorological Data Relay (AMDAR).

I think the sensors were installed on Canadian North aircraft, since the data most desired at the time was from the remote north.

A comment in the additional details section makes it look like the government is considering selling the data. "Potential Commercial Exploitation: Yes."

Anyone with an alterative interpretation of the numbers, please post. (And good luck.)

ECCC = Environment and Climate Change Canada

To see what ECCC is up to, there is a report for 2023-24 online.

https://www.canada.ca/en/environment-climate-change/corporate/transparency/priorities-management/departmental-plans/2023-2024.html

Core Responsibility: Predicting Weather and Environmental Conditions
 
Description
 
Provide authoritative forecasts, warnings, data, and information services related to weather, hydrological, and environmental conditions using a wide range of dissemination systems to help Canadians, public authorities, and targeted weather sensitive sectors make informed decisions about health, safety, and economic prosperity. This will be achieved by: monitoring weather, water quantity, ice, air quality and climate conditions; conducting research and development activities targeting continuous improvement; operating advanced integrated weather and environmental prediction models using high performance computing platforms; exchanging data in near real time, on a continual basis, with members of the World Meteorological Organization to ensure accurate and timely predictions; and collaborating closely with other nations’ weather and hydrologic institutions, and international organizations, to improve services for citizens everywhere.
 
"Every day, ECCC uses a state-of-the-art High Performance Computing (HPC) system to bring together 13 million observations about Canada’s environment and other data available from domestic and international partners. In the context of a changing climate and more frequent and intense high-impact weather events, the provision of timely and high-quality weather services becomes increasingly important."

All kinds of opportunity here for FLYHT.


Original news release...

https://flyht.com/investors/news-and-media/view/flyht-aerospace-solutions-and-environment-and-climate-change-canada-partnership-will-deliver-crucial-weather-data/


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