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Technology Stocks : FLYHT Aerospace Solutions Ltd.

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From: Sultan4/20/2017 12:27:16 PM
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FLYHT Signs USD $1.9 Million Sales Contract with Chinese Airline

CALGARY, AB--(Marketwired - April 20, 2017) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) ( FLYLF) (the "Company" or "FLYHT") is pleased to announce the sale of the Automated Flight Information Reporting System (AFIRS™) to a new commercial airline customer in the People's Republic of China.

"FLYHT is excited to announce its latest customer in China, this airline is very interested in our technology to support their operations," commented Michael Fang, FLYHT's Vice President China Sales. "Members of FLYHT's executive team met with several current and prospective customers in the region last week where we are seeing steady demand for our solutions to meet airlines' satellite communications and data needs."

The initial contract for the sale of AFIRS hardware is valued at approximately USD $1.9 million 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.
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