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Technology Stocks : FLYHT Aerospace Solutions Ltd.

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From: Sultan1/26/2017 4:08:52 PM
   of 68
 
FLYHT Enters USD $1.3 Million Sales Contract with Existing Chinese Customer

CALGARY, AB--(Marketwired - January 26, 2017) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) ( FLYLF) (the "Company" or "FLYHT") is pleased to announce it has entered a contract with an existing customer in the People's Republic of China for the sale of the Automated Flight Information Reporting System (AFIRS™) for installation on Airbus A320 and Airbus A320NEO.

This contract for the sale of AFIRS 228 hardware is valued at approximately USD $1.3 million assuming FLYHT provides the hardware over the full term of the agreement. The operator is adding new Airbus A320 aircraft to its current fleet of CRJ-900 aircraft. The customer will install AFIRS as they take delivery of the new aircraft. This operator was highlighted in a previous press release, FLYHT Signs its First Chinese Customer for Data Services on August 15, 2016. FLYHT data services may be added to these new aircraft when they are placed into service, further increasing the value of the contract.

Installations are anticipated to begin in the middle of 2017; FLYHT currently owns required Supplemental Type Certificates (STC's) to commence the installations on the A320 and will pursue updates for the A320NEO.
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