SOURCE: FLYHT Aerospace Solutions Ltd.

FLYHT Aerospace Solutions Ltd.

March 28, 2017 07:04 ET

FLYHT Provides First Quarter 2017 Update and Announces Fourth Quarter 2016 Conference Call

CALGARY, AB--(Marketwired - March 28, 2017) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) (OTCQX: FLYLF) (the "Company" or "FLYHT") is pleased to announce the following updates to sales activity in the first quarter of 2017:

  • Received orders from an existing OEM partner (see release on July 15, 2014) for approximately USD $1.5 million of parts with related license fees.
  • One new and seven current customers signed contracts for additional Automated Flight Information Reporting System (AFIRS™) 228 units and/or voice and data services. These included three Chinese airlines, two customers in Africa and one in Europe. These contracts will total approximately USD $1.5 million assuming FLYHT provides services over the full term of the agreements.

"FLYHT has now welcomed its second Chinese customer to utilize real-time data benefits," remarked FLYHT's CEO Thomas R. Schmutz. "Also, several customers chose to upgrade their tracking functionality with FLYHT's aircraft situational display. FLYHTASD™ is a component of UpTime™ Cloud that enhances aircraft tracking and simplifies operational communications with aircraft."

In the quarter, FLYHT was awarded Supplemental Type Certificates (STC) for the AFIRS 228 by the Federal Aviation Administration (FAA) for MD 82/83 aircraft and from the General Administration of Civil Aviation of China (CAAC) for the Boeing 757.

Conference Call Details

FLYHT will host a live conference call to discuss fourth quarter results on Wednesday, April 5, 2017 at 9 am MDT (11 am EDT, 8 am PDT). The conference call will include a brief presentation about FLYHT's fourth quarter and year end results followed by a question and answer period with management.

To access the conference call by phone within Canada and the U.S.A., the toll-free number is 1-800-319-4610. Outside Canada and the U.S.A., dial 1-604-638-5340. (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail. Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT's website as soon as it is available from the conference call provider. http://flyht.com/presentation-and-webcast/

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 70 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT's proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT's UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.4 million aggregate flight hours and 1.6 million flights on customers' aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

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Contact Information

  • Contact Information

    FLYHT Aerospace Solutions Ltd.
    Nola M. Heale, CPA, CA
    Chief Financial Officer
    403-291-7425
    nheale@flyht.com

    Investor Relations

    The Howard Group Inc.
    Dave Burwell
    Vice President
    (888) or (403)-221-0915
    dave@howardgroupinc.com