Brampton, Ontario--(Newsfile Corp. - March 14, 2022) - Star Navigation Systems Group Ltd. (CSE: SNA) ("Star" or the "Company") is pleased to announce that it has signed an Integrated Sales, Marketing and Training agreement with FlightPath International ("FPI") for the purposes of enhancing global brand awareness, collaboratively leading sales initiatives as well as training future customers on leveraging maximum business insights from the Star A.D.S ® products and data services.
This agreement is an extension of the original signed agreement between Star and FPI on January 19th, 2022.
Over the past few months, FPI has showcased the value of being a trusted reputable leader in the aviation industry by providing the highest standard of Original Equipment Manufacturer ("OEM") training, and customer service for over 18 years. Star looks to leverage FPI's relationships with its customers and benefit from this new integrated partnership by:
- Accessing over 160 new FPI customers, MRO and OEM relationships that will benefit from Star's Flight Sciences Services and Technologies
- Offering Star A.D.S ® solutions to new potential customers and existing FPI customers in Autonomous Aircraft Tracking, Aircraft in Distress tracking along with backward and forward DFDR recordings, Flight Operations Performance, Predictive Maintenance and Safety Protocols
- Providing a market ready solution to existing FPI airline customers to implement the mandatory International Civil Aviation Organization's ("ICAO") Global Aeronautical Distress Safety System program ("GADSS") before the January 2023 deadline
"This is an important step for Star as we launch our new Star A.D.S ® Sales & Marketing, Customer Support and Training Services," says Amir Bhatti, CEO at Star. "With FPI's successful track record in Airline training and its global footprint with offices in 8 countries around the world, Star now has the ability to train new and prospective customers in best practices of training standards. The FPI Partnership helps us open several new doors to showcase and sell our products as the global airline industry starts to recover from the COVID-19 pandemic. Airlines need our technologies to ensure compliance with ICAO flight tracking requirements by January 2023 and to optimize aircraft performance. With these sales initiatives coming in the form of managing Star's own road shows in various regions of the world which will help develop sales for Star on an accelerated timeline as well enhancing brand awareness".
"Star and FPI have come together, and we can now provide a remarkable service that will bring operating costs down for airlines, as well as develop an even higher standard of safety to our customer's operations," says Andrew Lucas, CEO at FPI. "In addition to the Quality Training that our customers have come to know with FPI, the addition of Star's products and services adds new dimensions for Flight Following, Technical Readiness, Environmental Optimization, reduced "Unexpected" Aircraft on Ground downtime, Improved Efficiency and Standardization and Safety in Flight Operations. These attributes provide real and substantial cost savings as well as environmental benefits."
Star is compensating FPI for its strategic, integrated and accelerated alliance in sales initiatives/training and flight safety workshops in untapped markets through the issuance of two million Company Stock Options which will vest equally at $0.05 cents and $0.08 cents and CAD$99,000. These funds will be utilized in establishing a strong infrastructure with associated resources to support these initiatives. The joint efforts will lead both companies to showcase their respective products with increased credibility on upcoming trips that will bear costs associated in the same range of expenditures.
About Star Navigation:
Star Navigation Systems Group Ltd. manufactures the In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S.® System. The STAR-A.D.S.® System has real-time capability of tracking, performance trends and predicting incident-occurrences which enhances aviation safety and improves fleet management while reducing costs for the operator. Star's MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.
About FlightPath International:
Founded in 2003, FlightPath International, a Canadian based company, is a leading provider of Training and Operational Support services for the commercial airline industry worldwide. FlightPath offers Technical, Pilot, Multi-Crew Pilot Licensing, Cabin and Dispatcher training, with aircraft types that include Airbus, Boeing, Bombardier, De Havilland, and Embraer; serving over 160 Operators in over 60 Countries.
Forward Looking Information
Certain statements in this news release may constitute "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that Star expects or anticipates may occur in the future. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements.
Forward-looking statements reflect the current expectations and beliefs of Star's management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Star or the industry may be materially different from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this news release include statements regarding: growth and future prospects of our business; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; expectations regarding the operation of our app; and our future revenues.
Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers and the success of the business of our partners.
Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved.
A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation: those relating to potential disruptions to product delivery; failure to meet regulatory requirements; changes in the market; potential downturns in economic conditions; availability of financing (as necessary); and other risk factors described in our Filing Statement which is available on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and Star undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
The risks posed by the COVID-19 pandemic are real and substantial but cannot be defined or measured in any meaningful way at this time. Many other factors could cause Star's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
NEITHER CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Please visit www.star-navigation.com or contact
Mr. Amir Bhatti, CEO at 1-416-252-2889 #230 or amir.bhatti@star-navigation.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116700
