September 09, 2020 07:00 ET
| Source: FLYHT Aerospace Solutions Ltd.
CALGARY, Alberta, Sept. 09, 2020 (GLOBE NEWSWIRE) — FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “Flyht”) announced today that it has received an order for 20 AFIRS units that will be factory installed on the ARJ21 aircraft for China Express Airlines Co. Ltd., China’s first private regional airline. China Express will take delivery of the first 20 of an expected commitment for up to 100 of the newest aircraft type available in China over the next 5 years. China Express has also agreed to be a launch customer for Flyht’s Actionable Intelligence solution by integrating AFIRS data from both its current fleet and the incoming ARJ fleet with ground handling data from various systems.
Flyht currently has more than 2,800 aircraft equipped with the patented AFIRSTM system, and provides data analytics and reporting to more than 80 aircraft operators around the globe.
China Express stated, “Flyht has long been a valued technology partner with their AFIRS system installed on our existing fleet of CRJ and A320 aircraft. As we expand our fleet with new aircraft, we are having AFIRS installed by the manufacturer so that we can leverage real-time data immediately through the use of Flyht’s new Actionable Intelligence tools.”
Bill Tempany, Interim CEO of Flyht, said, “Our long-term relationships with our airline partners in China have been very successful and our integration into this new aircraft type being delivered as a factory installed option, is proof that our patience and dedication to this market and customer were well founded. We are also excited that China Express has agreed to be our strategic technology partner in China to take advantage of our Actionable Intelligence products.”
Based on the current installation schedule and product deployment plan, Flyht is expected to generate US$2 million in revenue from this contract over the next five years in a combination of hardware and data services. Additional revenues are expected as the Actionable Intelligence functionality is rolled out, which will be announced in due course.
About FLYHT Aerospace Solutions Ltd.
Flyht has been a pioneer in improving aviation safety, efficiency and profitability by providing insight into airline operations. Our products have allowed us to develop Actionable Intelligence tool kits based on our development of Flyht’s patented and unique aircraft certified hardware, AFIRS(TM), a satcom aircraft interface device which enables real-time streaming of flight information, cockpit voice and black box data streaming and TAMDAR(TM), which aggregates and streams airborne weather data in real-time. Flyht is headquartered in Calgary, Canada with an office in Littleton, Colorado and is an AS9100 Quality registered company. For more information, visit www.flyht.com.
About China Express Airlines
China Express Airlines, also known as Huaxia Airlines, is China’s first private regional airline. They have been a customer of Flyht since their first aircraft were delivered and take full advantages of all the features of the AFIRS system.
|FLYHT Aerospace Solutions Ltd.||FNK IR LLC|
|Alana Forbes||Matt Chesler, CFA|
|Chief Financial Officer||Investor Relations|
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