FLYHT Aerospace Solutions Ltd.
OTCQX : FLYLF
TSX VENTURE : FLY

FLYHT Aerospace Solutions Ltd.

October 19, 2015 11:15 ET

FLYHT Announces Changes to the Executive Team

CALGARY, ALBERTA--(Marketwired - Oct. 19, 2015) -

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FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) (OTCQX:FLYLF) ("FLYHT" or the "Corporation") today announced changes to its executive management team. Mr. Tom Schmutz*, MEng, MBA, has been appointed the new chief executive officer ("CEO") of the Corporation. Mr. Bill Tempany is retiring from his role as CEO, but will remain on the board of directors and has been appointed the chairman of the board. In addition, Mr. Matt Bradley has resigned from his position as president of the Corporation to pursue new career opportunities.

Mr. Schmutz comes to FLYHT with a wealth of industry experience, contacts and knowledge. In a career of more than 30 years he gained extensive experience in senior leadership roles in the aerospace and telecommunications industries. Most recently, Mr. Schmutz spent nine years with L-3 Communications Corporation in the Aviation Recorders division. Previously, Mr. Schmutz was with Airnet Communications Corporation in Melbourne, Florida, as Vice President Engineering and with Harris Corporation as Principal Investigator, Advanced Digital Signal Processing and lead engineer. He is a graduate of the U.S. Military Academy, West Point, New York, the Georgia Institute of Technology, Atlanta, Georgia, and has an MBA from the University of South Florida, Tampa. Mr. Schmutz is a decorated U.S. Army Captain with extensive exposure to cross-cultural dynamics and international business practices in India, Asia, Europe, South and North America.

"Tom is the individual this Corporation needs to take it to the next level," stated Bill Tempany. "We have a certified product taking a strong position in the industry and a team at FLYHT that can help him deliver positive results for the Corporation, our shareholders and customers."

"I am extremely excited about the opportunity to lead FLYHT as we head into the connected aircraft future," said Tom Schmutz. "The AFIRS™ UpTime technology is cutting edge and the value proposition for airline operators and OEM manufacturers is being demonstrated daily."

Mr. Tempany retires after a career of more than 35 years in senior management, twelve of which were spent leading FLYHT to become a public company, develop the successful AFIRS technology the Corporation markets today and push the boundaries on what is possible for real-time alerting and business information delivery for the aerospace industry.

"My retirement is the culmination of work to structure FLYHT for success including changes to the board, a solid team to deliver solutions, opportunities to make FLYHT a global force in aviation and a new CEO to lead the charge," stated Bill Tempany. "It was a pleasure to lead the FLYHT team with the board's support to put our company in a position to change a global industry."

Mr. Bradley has been a part of FLYHT's management team for over seven years. He was FLYHT's VP operations from 2008 to 2010 when the Corporation increased its recurring revenue by more than 100%, developed the FIRST™ fuel management product, and demonstrated live black box streaming capability. As FLYHT's VP of business development for four years, he lead the Corporation's international sales team, re-branded the Company as FLYHT, and closed the largest deal to date at that time. Mr. Bradley has been FLYHT's President for the past 20 months, leading the day to day operation of the Corporation as it attracted more attention from significant companies in the aerospace industry and commercialized the emergency black box streaming application, FLYHTStream™.

"I am honoured to have worked with such a dedicated, bright group of people at FLYHT," stated Matt Bradley. "Although I am leaving to pursue other opportunities, I will no doubt keep an eye on FLYHT's continued progress in the aviation market. Tom Schmutz is the ideal leader to leverage the significant achievements of FLYHT to date and push through to larger markets and new opportunities."

"On behalf of FLYHT, we want to convey our sincere gratitude to Mr. Bradley for the knowledge, leadership and passion he brought to FLYHT over the past seven years and the strong industry presence he leaves for FLYHT to build on," remarked Doug Marlin, Director. "The Board of Directors also wishes to thank Mr. Tempany for his oversight, vision, and perseverance at FLYHT during his 12 years as CEO, and look forward to his guidance as chair of the board."

*Mr. Schmutz's start date is subject to receipt of appropriate approvals from Employment and Social Development Canada and Citizenship and Immigration Canada.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHT's triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The Dragon is FLYHT's latest product, a revolutionary light weight portable satellite communications device that blends existing FLYHT technology with that of the iPad.

AFIRS, UpTime, the Dragon, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

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