CALGARY, Alberta, June 07, 2018 (GLOBE NEWSWIRE) -- 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 $1.43 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 remote flights. The suite of services FLYHT provides to this operator will expand with the new SaaS agreement to include engine trending, airframe exceedances and engine exceedances. The operator will experience significant benefits from this combined functionality.
“This airline added more of our software products to improve the efficiency of their operations,” remarked FLYHT’s COO, Matieu Plamondon. “FLYHT is excited to deliver services that reduce their operational costs and enhance the safety of their operations.”
About FLYHT Aerospace Solutions Ltd.
FLYHT’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: FLY:TSX.V; FLYLF:OTCQX). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRSTM) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTimeTM cloud-based data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.
Contact Information
FLYHT Aerospace Solutions Ltd.
Alana Forbes
Chief Financial Officer
403-291-7437
aforbes@flyht.com
Adelaide Capital Markets Inc.
Deborah Honig
647-203-8793
deborah@adelaidecapital.ca
Join us on social media!
www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.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.