FLYHT Aerospace Solutions Ltd.

FLYHT Aerospace Solutions Ltd.

October 26, 2012 07:06 ET

FLYHT Receives ATR 42/ 72 Activation STC for AFIRS 228

CALGARY, ALBERTA--(Marketwire - Oct. 26, 2012) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) ("FLYHT") reported today that it has received an activation Supplemental Type Certificate ("STC") for its Automated Flight Information Reporting System ("AFIRS™") 228 on ATR 42/72 model aircraft from Transport Canada.

On January 16, 2011, FLYHT announced a contract with a Canadian airline, to which the ATR-42/72 STC applies. Since announcing the contract FLYHT has shipped a total of 8 installation kits for ATR aircraft. The STC allows for the immediate activation of the AFIRS technology and enables its full functionality on the installed aircraft. There are a total of 19 aircraft pursuant to this agreement and to date 14 installation kits have been shipped to the airline. The receipt of this STC will allow for the activation of 8 ATR aircraft for a total of 12 active units.

ATR 42/72 are twin-turboprop, regional airliners used exclusively for short-haul flights and are built by ATR, a French-Italian aircraft manufacturer and the world's largest manufacturer of regional aircraft. An STC constitutes regulatory approval to modify an aircraft's design while retaining airworthiness certification and is necessary to permit retrofit installation of aeronautical products such as AFIRS. The Company has activation STCs for 33 aircraft types for either/or AFIRS 220 and 228 products. The Company is developing STC's for numerous other aircraft types.

AFIRS 228 is FLYHT's next-generation flagship product. It will provide a fully certified avionics platform capable of meeting all air navigation communications requirements in Europe, the United States and other jurisdictions around the world. It will also provide the input and outputs necessary to enhance the value of real-time data for FLYHT's customers globally. The AFIRS 228 will be the first safety services certified platform on the planet to provide black box data streaming via FLYHTStream™, FLYHT's patent pending solution.

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. In May 2012 the trading symbol was changed from AMA to FLY in conjunction with a name change from AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd.

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

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • FLYHT Aerospace Solutions Ltd.
    Thomas R. French, CGA
    VP Finance and CFO

    The Howard Group Inc.
    Dave Burwell
    Investor Relations
    Senior Associate
    (888) or (403)-221-0915