Customer Extends FLYHT Contract
CALGARY, Alberta, July 16, 2018 (GLOBE NEWSWIRE) --
FLYHT Aerospace Solutions Ltd. (TSX-V:FLY) (OTCQX:FLYLF)
(the “Company” or “FLYHT”) is pleased to announce a contract
renewal with an existing customer.
The value of this renewal agreement with the airline is USD $3.1 million, assuming the Company provides services over the full term of the five (5) year contract.
The airline operates in Australasia and uses the Automated Flight Information Reporting System (AFIRSTM) and associated UpTimeTM capabilities to monitor and manage its aircraft. The operator has experienced significant benefits through the customized engine reporting FLYHT provides and will continue to use the FLYHTLogTM and FLYHTHealthTM software as a service (SaaS) products to optimize efficiencies.
“This airline operates a mixed fleet in a challenging environment,” remarked FLYHT’s COO, Matieu Plamondon. “FLYHT’s SaaS products are integrated with this customer’s day to day flight support operations to help them maintain safety and improve efficiencies.”
About FLYHT Aerospace Solutions Ltd.
FLYHT’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: (TSX-V:FLY) (OTCQX:FLYLF). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRSTM) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTimeTM Cloud data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.
Contact
Information
FLYHT Aerospace Solutions Ltd.
Alana Forbes
Chief Financial Officer
403-291-7437
aforbes@flyht.com
Adelaide Capital
Markets Inc.
Deborah Honig
647-203-8793
deborah@adelaidecapital.ca
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