CALGARY, ALBERTA--(Marketwire - Jan. 2, 2013) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) ("FLYHT") reported today that it has signed a contract with a Nigerian airline for the Automated Information Reporting System ("AFIRS(TM)") 220.
The contract requires FLYHT to install the AFIRS 220 on five Airbus A319 and A320 aircraft for a domestic operator in Nigeria. The airline will use AFIRS to provide real-time flight data monitoring. The customer will benefit from all AFIRS 220 features including automated Out, Off, On and In times, airframe and engine exceedances, flight tracking and satellite voice communications.
The airline is another operator in Nigeria taking steps to follow the recommendations of the Nigerian Civil Aviation Authority ("NCAA"), to implement an intelligent flight tracking system to increase safety and improve efficiency.
FLYHT will provide equipment and services to the airline over a two year contract with automatic yearly renewals after the initial term. Installations are anticipated to begin in the first quarter of 2013. 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 $349,250 USD, excluding optional services. The agreement includes the option to upgrade, at an additional charge, to the AFIRS 228 technology if the customer wishes. FLYHT has all necessary certifications to commence installations immediately.
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(TM) UpTime(TM), 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(TM), 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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FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
The Howard Group Inc.
(888) or (403)-221-0915