FLYHT Aerospace Solutions Ltd. (TSXE: FLY) (OTCQX: FLYLF) has been selected as a recipient of an interest-free WINN loan of USD2.35 million by Western Economic Diversification Canada, the company said.
FLYHT applied for loan to support plans for technology development in the air and ground components of its satellite/aircraft communications systems.
The company said it plans to upgrade the automated flight information reporting system (AFIRS) and commercialize the company´s cloud-based UpTime software, which includes functionality to better support new and current customers.
FLYHT Aerospace Solutions Ltd. is a provider of real-time aircraft intelligence and cockpit communications for the aerospace industry.
Western Innovation Initiative (WINN)is a Canadian federal government program designed to stimulate greater private sector investment in western Canadian commercialization activities.