FLYHT Aerospace Solutions Ltd. (TSX: FLY) (OTCQX: FLYLF) has entered into an agreement with an information technology (IT)company that implements data solutions for Chinese commercial aviation operators in the People´s Republic of China for the sale of the Automated Flight Information Reporting System (AFIRS) 228S, the company said.
The initial contract for the sale of AFIRS 228S hardware is valued at approximately USD4.26 million assuming FLYHT provides the hardware over the full term of the five-year agreement. FLYHT data services may be added in the future, further increasing the value of the contract.
Installations are anticipated to begin once the necessary approvals of FLYHT´s Supplemental Type Certificates (STC´s) for the Embraer aircraft are received. It is anticipated that the General Administration of Civil Aviation of China´s (CAAC) approval for the E190 STC will be received in early 2017 and the application for the E195 STC will begin in early 2017.
FLYHT Aerospace Solutions Ltd. is a provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. FLYHT´s proprietary technology, the Automated Flight Information Reporting System (AFIRS), operates on multiple aircraft types, providing data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data.