FLYHT Signs New Canadian Customer; Five-year contract approximates $US 1.9m in revenue
Calgary, Alberta – January 2012. AeroMechanical Services Ltd., under its FLYHT™ brand name, has signed a contract with an airline that will become the company’s largest Canadian customer with an order for seven Automated Flight Information Reporting Systems ("AFIRSTM") 220 and 12 of the next generation AFIRS 228B, for a total of 19 aircraft.
The contract requires FLYHT to install AFIRS 220 or AFIRS 228B on Boeing 737-200, 767-200F and ATR–42/72 aircraft. The airline has been in business for over half a century and operates in major Canadian centers and remote northern regions. The airline also operates charter flights within the country.
“We are extremely pleased to welcome this Canadian operator as a new customer,” commented Matt Bradley, VP of business development at FLYHT. “With this addition, our Canadian customer list is now at eight airlines. The airline has indicated to us that our technology will add significant value to their operation and reinforce their commitment to safety and efficiency.”
FLYHT’s AFIRS will enable real-time flight following and 24/7 connectivity between the aircraft and ground operations through the Iridium satellite communications system. The airline will also utilize FLYHT’s other services including engine trending, airframe and engine exceedances, and Out, Off, On and In times. The airline will use the data AFIRS provides to operate its Flight Operations Quality Assurance (FOQA) program, a type of safety monitoring program.
FLYHT will provide equipment and services to the airline over a five-year contract. Installations are scheduled to begin within the year and be completed over the next 18 months. 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 $US 1,945,260, excluding optional services. The installations for the Boeing 767-200F and ATR–42/72 will commence uponFLYHT receiving all necessary certifications and no issues are anticipated for the completion of the certifications.
About AeroMechanical Services
AeroMechanical Services Ltd., under the brand name FLYHTTM, 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, AMA’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 company has been publicly traded on the TSX Venture Exchange since 2003 under the trading symbol AMA.
AFIRS, UpTime, FLYHT, FLYHTStream and aeroQ are trademarks of AeroMechanical Services Ltd.
