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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 AFIRS Edge, Automated Flight Information Reporting System (AFIRS), FLYHT-WVSS-II, and Tropospheric Airborne Meteorological Data Reporting (TAMDAR). Its actionable intelligence solutions include Wireless Quick Access Recorder (WQAR), Aircraft Interface Device, FleetWatch, FuelSens, and ClearPort. The AFIRS solutions include an aircraft satcom/interface device that enables cockpit voice communications, the transmission of aircraft data both inflight via satellite and post-flight via 5G, real-time aircraft state and fleet status analysis, and preventative maintenance solutions. Its hardware products can also be interfaced with its proprietary relative humidity sensors to deliver airborne weather and humidity data in real-time. The FLYHT-WVSS-II is an aircraft sensor. The TAMDAR system is a sensor device installed on aircraft.


TSXV:FLY - Post by User

Post by CF105on Jun 30, 2021 7:45am
217 Views
Post# 33471985

Contract for Additional Installations of AFIRS

Contract for Additional Installations of AFIRS
FLYHT and Major Chinese Cargo Operator Contract for Additional Installations of AFIRS
One of China’s largest cargo carriers continues to invest in FLYHT’s communication solutions for their expanding fleet.
 
Calgary, Alberta – June 30, 2021 – 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.
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