AeroMechanical Services (TSX.V: AMA) Name Change to FLYHT Aerospace Solutions Ltd. (TSX.V: FLY)
Calgary, Alberta – May 10, 2012 – AeroMechanical Services Ltd. (TSX-V: AMA) shareholders approved a Company name change to FLYHT Aerospace Solutions Ltd. (the “Company” or “FLYHT”) at the Annual General Meeting held yesterday afternoon in Calgary, AB. Subject to the approval of the TSX Venture Exchange, the new ticker symbol on the TSX-V will be “FLY”. It is anticipated that FLYHT will commence trading under its new symbol in the next couple days.
“The Company has been operating under the FLYHT brand name for the past five years, so the name is already established in the industry,” remarked President and CEO Bill Tempany. “We believe that the name change throughout the whole Company will have a positive outcome on our business because there will be consistency among all stakeholder groups in operations, marketing and investor relations.”
AeroMechanical Services Ltd. was formed in 1998 and began trading as “AMA” on the TSX Venture Exchange in 2003. Since that time, the Company’s business has grown and evolved. Originally, the Company sold parts, maintenance and certification services for aircraft. When the Company recognized aircraft operators needed to be better connected with their aircraft, it shifted its focus to providing real-time data and satellite communications.
In 2007, the FLYHT brand name was introduced to as a way to differentiate products and services in the marketplace and create a new image for the Company. The Company has undergone efforts to increase marketing under the name with a launch of a new website in the first quarter of 2011 and a new logo in the third quarter of 2011.
“The origin of the FLYHT name comes from the old English spelling of the word flight and was chosen as a fitting and unique title for a company in the aerospace industry,” added Mr. Tempany.
After the name change, the Company’s organizational structure and operating standards will remain the same. Over the next couple days, the updated name will appear on the TSX Venture Exchange and other trading websites. All efforts have been made to ensure a smooth transition through the change for people searching both the old and new Company name.
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 and recently changed its trading symbol from AMA to FLY. Shareholders approved a Company name change from AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. in May 2012.
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
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