May 22, 2018-
FLYHT Aerospace Solutions Ltd. (TSX-V:FLY) (OTCQX:FLYLF) (the “Company” or “FLYHT”) is pleased to announce a Software as a Service (SaaS) contract renewal with an existing customer.
The value of this renewal agreement with the airline is USD $1.03 million, assuming the Company provides services over the full term of the five (5) year contract.
The airline operates in North America and uses the Automated Flight Information Reporting System (AFIRSTM) and associated UpTimeTM capabilities to monitor and manage its aircraft on many short-haul flights. The suite of services FLYHT provides to this operator across its fleet has expanded over the years, beginning with voice and data communications through the Iridium network including real-time aircraft tracking with FLYHTLogTM. AFIRS also provides an integrated quick access recorder (QAR). The airline then added airframe exceedances and engine monitoring through FLYHTHealthTM and has achieved significant benefits from this combined functionality.
“This contract renewal demonstrates the value FLYHT technology provides to our customers,” remarked FLYHT’s COO, Matieu Plamondon. “Our expanded relationship with this airline is possible because FLYHT’s technology saves aircraft operators money, streamlines their operations and enhances their operational safety.”
Source : FLYHT Aerospace Solutions Ltd.
Publish date: April 2018 - Pages: 233