FLYHT Lands Two New Customers in China
Calgary, Alberta – September 5, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the sale of the Automated Flight Information Reporting System (AFIRSTM) to two new commercial cargo customers in the People’s Republic of China for USD $1.4 million, assuming FLYHT provides hardware over the full term of the five (5) year agreement. FLYHT’s subscription voice and data services may be added in the future, further increasing the value of the contracts. The first airline will install AFIRS on its fleet of A300 aircraft and the second on its B757 and B737 aircraft.
“These sales mark close to USD $5.5 million in AFIRS sales to new customers in China this year and bring the number of customers in China to 23,” remarked Michael Fang, FLYHT’s Vice President of China Sales. “We also continue to upsell our existing Chinese customers with subscription voice and data services, and have signed contracts for these services to almost USD $700,000 in 2017.”
FLYHT has all the necessary Supplemental Type Certificates (STC’s) to complete installation on the B757 and B737 aircraft. Installations are anticipated to begin in the third quarter of 2017. The Company will begin installations on the A300 aircraft after that STC is achieved.
About FLYHT Aerospace Solutions Ltd.
FLYHT’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: FLY:TSX.V; FLYLF:OTCQX). 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-based 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.
FLYHT Aerospace Solutions Ltd.
Interim Chief Financial Officer
The Howard Group Inc.
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