SOURCE: FLYHT Aerospace Solutions Ltd.

FLYHT Aerospace Solutions Ltd.

November 13, 2017 09:34 ET

FLYHT Appoints Matieu Plamondon Chief Operating Officer

Company Issues Stock Options

CALGARY, AB--(Marketwired - November 13, 2017) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) (OTCQX: FLYLF) (the "Company" or "FLYHT"), the leading provider of real-time data streaming technology that enhances the efficiency and safety of aircraft, today announced that it has appointed Matieu Plamondon as Chief Operating Officer of the Company.

Previously, Mr. Plamondon was Vice President Operations & Customer Fulfillment, leading FLYHT's global operations team in the areas of hardware production, supply and maintenance, account management and customer support, as well as program and supplier management. In his new role, Mr. Plamondon will develop and enhance operational policies and strategic plans aimed at driving profitable growth, while monitoring organizational productivity and customer satisfaction. Functional areas reporting to Mr. Plamondon will be FLYHT's operations, aircraft certification engineering and software personnel, as well as program management and production supply teams.

"Mat is a results-oriented leader who, over the last 15 years, has led several airline operations teams as well as aerospace product and service teams," stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. "During his tenure at FLYHT, Mat has been instrumental in streamlining and improving our various operating areas at home and abroad, in addition to continuously increasing customer satisfaction." Schmutz added, "We look forward to Mat driving FLYHT's organizational effectiveness even higher and continuing to maximize the value that customers get from our leading products and services."

As part of Mr. Plamondon's promotion to his new role, he was granted 20,000 additional incentive stock options on November 3, 2017. Also on this date, 75,000 incentive stock options were granted Derek Payne, who became FLYHT's Chief Financial Officer effective November 6, 2017.

Both Mr. Plamondon and Mr. Payne's stock options were issued at FLYHT's closing price on November 3, 2017. The stock options issued to each of Mr. Plamondon and Mr. Payne are exercisable at a price of $2.10 per common share, will vest on November 3, 2018, and expire on December 31, 2021.

A maximum of 10% of FLYHT's issued and outstanding shares are reserved under the Company's stock option plan. The stock options and any common shares issued upon exercise of the stock options are subject to a four-month resale restriction.

About FLYHT Aerospace Solutions Ltd.

FLYHT's mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: (TSX VENTURE: FLY) (OTCQX: FLYLF)). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRS™) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTime™ cloud-based data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.

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Contact Information

  • Contact Information

    FLYHT Aerospace Solutions Ltd.
    Derek Payne
    Chief Financial Officer
    403-250-9956

    Ivan Peill
    Investor Relations
    403-291-7432
    ipeill@flyht.com