FLYHT Aerospace Solutions Ltd.
TSX VENTURE : FLY

FLYHT Aerospace Solutions Ltd.

April 23, 2014 07:08 ET

FLYHT's Technology Achieves Major Milestone With One Million Flights

CALGARY, ALBERTA--(Marketwired - April 23, 2014) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) (the "Company" or "FLYHT") reported today that its flagship Automated Flight Information Reporting System ("AFIRS™") has reach a major milestone having surpassed one million flights onboard customer aircraft.

Bill Tempany, CEO of FLYHT said: "The steady growth of flights is exciting. The value received by our customers using AFIRS continues to grow as we add services to our existing applications. FLYHT's focus for the coming years will be to increase the applications available to our customers and the value we can bring to them on each and every flight."

Customer feedback highlights the value AFIRS provides.

"FIRST [Fuel Initiative Reporting System Tracker] is a key element to any fuel conservation initiative, it is the big "M" within the PEMC framework - Plan, Execute, Measure, Correct. And the system does it accurately and timely, always"

"FLYHT knowledge and flexibility to accommodate specific requirements is remarkable and makes the AFIRS and FIRST solutions a "must have" solution for the aviation companies engaged to be the most efficient as possible in terms of fuel usage."

The Company has been tracking customer flights and flight hours since AFIRS' commercial inception in 2005. In 2012, FLYHT announced that AFIRS had flown one million flight hours onboard customer aircraft. Since that achievement, flight hours have grown to over 1.5 million, showing how quickly they are multiplying. This growth in flights and flight hours demonstrates customer's increased use of the technology and is linked to the Company's recurring revenues.

Graph from 2013 Annual Report

Flights and flight hours are updated monthly and can be viewed on FLYHT's website homepage.

FLYHT has 40 customers with AFIRS installed on over 400 aircraft. The Company continues to add certification and now has approval to install the next generation technology, AFIRS 228, on eight widely used commercial aircraft brands and models in addition to over 30 certifications received for the AFIRS 220.

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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