FLYHT Receives Purchase Order for Seven Military Transport Aircraft
CALGARY, ALBERTA--(Marketwired - May 3, 2013) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) (the "Company" or "FLYHT") is pleased to report that it has received a purchase order from a major avionics integrator for AFIRS 228 equipment for seven Lockheed C-130 Hercules aircraft owned and operated by a middle eastern country's air force. This is the second air force in the region to adopt AFIRS as part of their avionics modernization programs. The total value of the hardware portion of the contract is in excess of $250,000 USD and an ongoing service agreement will be negotiated with the end users prior to delivery of the upgraded aircraft.
Shipments of the products are anticipated to commence in the third quarter of this year with services commencing in 2014 with the end users.
Globally there are more than 5,000 C-130 aircraft in operation and a majority of those aircraft will likely require avionics upgrades in the next few years.
"We are excited to continue our success in the global C-130 upgrade programs and look forward to supplying the major global avionic integrators with the many benefits AFIRS 228 provides airlines," stated Bill Tempany, President & Chief Executive Officer. "This is the second middle eastern air force to employ FLYHT's technology. We feel this is the start of a long and fruitful relationship with the customer in providing industry leading solutions to their customers."
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 Company has been publicly traded on the TSX Venture Exchange since 2003.
AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.
FLYHT Aerospace Solutions Ltd.
Thomas R. French, CGA
VP Finance and CFO
The Howard Group Inc.
Investor Relations, Senior Associate
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