FLYHT sells AFIRS to Chinese Airline, initial contract valued at USD 1.9m

FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY; OTCQX: FLYLF) has sold an Automated Flight Information Reporting System (AFIRS) to a new commercial airline customer in the People´s Republic of China, the company said.

The initial contract for the sale of AFIRS hardware is valued at approximately USD 1.9m assuming FLYHT provides the hardware over the full term of the five (5) year agreement. FLYHT´s data services may be added in the future, further increasing the value of the contract.

FLYHT has all the necessary Supplemental Type Certificates (STC´s) to complete installation on the designated A320 aircraft within this contract. Installations are anticipated to begin in the third quarter of 2017.

FLYHT is a provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 70 customers, including airlines, leasing companies, and original equipment manufacturers, have installed its systems in order to increase safety, improve operational efficiencies, and enhance profitability.

FLYHT´s proprietary technology, the Automated Flight Information Reporting System (AFIRS), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data.

AFIRS has flown over 2.5 million aggregate flight hours and 1.6 million flights on customers´ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.