FLYHT's AFIRS Edge A320
Platform to Launch on Coral Jet
Calgary, Alberta,
Canada and Bermuda - May 31, 2022 - InvestorsHub NewsWire
-- FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the "Company" or "FLYHT") and Coral
Jet, a startup airline that will service the Caribbean, United
States and Canada, today announced that Coral Jet has placed an initial order to become
the launch customer for the AFIRS Edge™. The Edge will be added to
Coral Jet's existing AFIRS™ satcom products, as previously
announced on January
11, 2022.
The AFIRS Edge is an aircraft
interface device ("AID"), pushing aircraft data to EFB
applications, providing airlines with Wireless Quick Access
(WQAR)
capabilities, all while serving as a gateway on the aircraft for
critical real-time information and onboard data storage. With
powerful onboard analytics capabilities, the Edge leverages
innovative technology to allow complex analytics to be developed
and deployed more efficiently than conventional updates. The Edge
also serves as a data port for the Actionable Intelligence services
such as fuel management, aircraft health monitoring and real-time
engine data reporting. These tools will help airlines recover from
the pandemic while monitoring and reducing fuel burn and thereby
greenhouse gas emissions.
FLYHT's development of the Edge as
well as its suite of Actionable Intelligence tools was developed
with repayable funding support from Prairies Economic Development
CanadaPrairiesCan
(PrairiesCan) through its Western Innovation
Initiative.
Kent Jacobs, President of FLYHT stated,
""We are very excited
to have a launch customer for the Edge product line and plan to
complete
the STC process
for the A319/320/321 and the B737NG this year. Our AFIRS Edge is a
light weight, powerful avionics product that provides airlines with
a wireless QAR (Quick Access Recorder), AID functions, and ACMS
capabilities that will help airlines improve their operational
efficiency. Completing these two STCs this year will allow us to
meet the demand we are seeing in the marketplace. We see this as a
significant step forward in the rollout of this
product."We are
very excited to have a launch customer for the Edge product
line,
having already started on the approval process for the A319/320/321 STC. Our
AFIRS Edge is a light
weight, high powered tool that will improve airlines' operational efficiency and turnaround time. We plan to do at
least three STCs for this product this year to meet the
demand we are seeing in the marketplace. We
see this as a significant step forward in the rollout of this
product."
Wes Gardner, Director of Flight
Operations of Coral Jet said, "FLYHT products have always been
ahead of their time, and we see the Edge product line solving most
of our data and pilot communication needs. We look forward to the
new products being developed for the Edge to help us run an
efficient and environmentally friendly airline."
This contract is valued at
approximately $100,000 USD over the five-year contract term, with
potential for increase as Coral Jet's fleet grows.
About FLYHT
Aerospace Solutions Ltd.
FLYHT
provides airlines with Actionable Intelligence to transform
operational insight into immediate, quantifiable action, and
delivers industry leading solutions to improve aviation safety,
efficiency, and profitability. This unique capability is driven by
a suite of patented aircraft certified hardware products. These
include AFIRS™, an aircraft satcom/interface device, which enables
cockpit voice communications, real-time aircraft state analysis,
and the transmission of aircraft data while inflight. The AFIRS
Edge is a state-of-the-art 5G Wireless Quick Access Recorder
(WQAR), Aircraft Interface Device (AID), and Aircraft Condition and
Monitoring System (ACMS). The Edge can be interfaced with FLYHT's
TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to
deliver airborne weather and humidity data in real-time.
CrossConsense,
FLYHT's wholly owned subsidiary, offers highly skilled services to
the commercial aviation industry and provides preventative
maintenance solutions. These include Aircraft Fleet View, a native
application that gives a real-time view of airline fleet status;
AviationDW, a managed data warehouse for enhanced business
intelligence; and ACSIS, a visualization and predictive maintenance
alerting tool.
FLYHT is
headquartered in Calgary, Canada, and is an AS9100 Quality
registered company. CrossConsense, located in Frankfurt, Germany,
is an ISO9001 certified operation. For more information, visit www.flyht.com.
Cautionary Note
Regarding Forward-Looking Statements
Except for statements of historical
fact, this news release contains certain "forward-looking
information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur. In
particular, forward-looking information in this press release
includes, but is not limited to, statements with respect to the
anticipated/projected revenues and related matters. Although FLYHT
believes that the expectations reflected in the forward-looking
information are reasonable, there can be no assurance that such
expectations will prove to be correct. FLYHT cannot guarantee
future results, performance, or achievements. Consequently, there
is no representation that the actual results achieved will be the
same, in whole or in part, as those set out in the forward-looking
information.
Forward-looking information is
based on the opinions and estimates of management at the date the
statements are made and are founded on the basis of expectations,
assumptions and hypotheses made by the Company, including, but not
limited to projected revenues. Such forward-looking information is
subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from
those anticipated in the forward-looking information. Some of the
risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information
include but are not limited to: global economic conditions;
industry conditions, and supply chain delays. Readers are cautioned
that this list of risk factors should not be construed as
exhaustive.
The forward-looking information
contained in this news release is expressly qualified by this
cautionary statement. FLYHT undertakes no duty to update any of the
forward-looking information to conform such information to actual
results or to changes in our expectations except as otherwise
required by applicable securities legislation. Readers are
cautioned not to place undue reliance on forward-looking
information.
Contact
Information:
FLYHT Aerospace
Solutions Ltd. FNK IR LLC
Alana Forbes Matt Chesler, CFA
Chief Financial
Officer Investor Relations
403.291.7437 646.809.2183
aforbes@flyht.com flyht@fnkir.com
investors@flyht.com
Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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