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.
About Pinnacle Air - www.pinnacleair.org
Pinnacle air specializes in business class charter flights sales, aviation consulting, aircraft sales and management. They are currently working on different departments such as Charter Sales, In-flight Services, Operations Control Center, Aircraft Sales and Management.
About Star Navigation Systems
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.
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.
The risks posed by the COVID-19 pandemic to the airline industry are real and substantial but cannot be defined or measured in any meaningful way at this time.
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.
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.
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.
This News Release is also available on the Company's official Verified Discussion Forum On AGORACOM, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Please visit www.star-navigation.com or contact
Mr. Amir Bhatti, CEO at 1-416-252-2889 #230 / amir.bhatti@star-navigation.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122006
