FLYHT Aerospace Solutions Ltd.

TSX VENTURE : FLY


FLYHT Aerospace Solutions Ltd.

March 04, 2014 07:06 ET

FLYHT Signs New AFIRS™ 228B Contract with Middle Eastern Based Operations Group of an International Cargo Airline

CALGARY, ALBERTA--(Marketwired - March 4, 2014) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) ("FLYHT") reported today that it has signed a contract with the Middle Eastern based operations group of an international cargo airline for the Automated Flight Information Reporting System ("AFIRS™") 228B.

The contract requires FLYHT to install the AFIRS 228B on four Boeing 757 aircraft. The airline will use AFIRS to provide real-time flight data monitoring. The customer will benefit from all AFIRS 228 features including automated Out, Off, On and In times, airframe and engine exceedances, flight tracking, automated engine data collection for real-time trending, fuel management and satellite voice communications.

FLYHT will provide equipment and services to the airline over a three year contract with automatic yearly renewals after the initial term. Installations are anticipated to begin in the third quarter of 2014. If FLYHT completes installation on all contracted aircraft and provides recurring service for the full term of the agreement, gross revenue to FLYHT will be approximately $383,200 USD, excluding optional services.

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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