FLYHT Announces New Chief Financial Officer and Schedules Third-Quarter 2017 Financial Results Conference Call
CALGARY, AB--(Marketwired - October 02, 2017) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) ( FLYLF) (the "Company" or "FLYHT") is pleased to announce the appointment of Derek Payne as Chief Financial Officer. Paul Takalo will remain Interim Chief Financial Officer until Mr. Payne assumes his new position on November 6, 2017. In the interim, Mr. Payne will serve as a financial consultant to FLYHT.
"I'm delighted to have Derek join FLYHT. He has over 19 years of experience in senior financial roles at high-growth public companies, including over nine years of experience in the aviation industry. Derek also brings a wealth of experience with regard to the Canadian and U.S. capital markets," remarked Thomas Schmutz, FLYHT's Chief Executive Officer. "I wish to thank Paul Takalo for the strong contributions he has made as interim CFO. We will continue to benefit from Paul's invaluable guidance, as he will remain on FLYHT's Board of Directors."
Prior to his appointment as FLYHT's Chief Financial Officer, Mr. Payne was Chief Financial Officer at Calgary-based DIRTT Environmental Solutions. Previously he was Chief Financial Officer at FilterBoxx Water and Environmental; Treasurer and Vice President of Finance at WestJet Airlines Ltd., where he also held a term position as Co-acting CFO. Mr. Payne obtained his Chartered Professional Accountant designation in 1996 and holds a Bachelor of Commerce degree from the University of Saskatchewan. Since June of 2012, Mr. Payne has been a volunteer board member of Hospice Calgary and currently serves as the organization's Board Treasurer and Chair of its Finance Committee.
Third-quarter Financial Results Conference Call
FLYHT will host a live conference call to discuss its third-quarter 2017 financial results on November 3, 2017 at 7:00am MDT (9:00am EDT, 6:00am PDT).
On the conference call, FLYHT's CEO Thomas Schmutz and Interim CFO Paul Takalo will discuss the Company's quarterly financial results and answer caller's questions.
To access the conference call by phone within Canada and the U.S.A. the toll-free number is 1-800-319-4610. Outside Canada and the U.S.A., dial 1-604-638-5340. (Callers should dial in five to 10 minutes prior to the scheduled start time).
Individuals wishing to ask a question during the conference call, can do so by pressing *1. Questions can be emailed to email@example.com.
An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT's website as soon as it is available from the conference call provider: ctt.marketwire.com
Actually, in practical terms it does not matter because Flyht has OEM level agreements with Bombardier, directly as well as Airbus, indirectly through LLL
As the delivery of C series picks up, you will see more installs there.. Also, Flyht already has an extensive STC certificates from various jurisdictions to install their products on 95% of planes currently in service..
Worth checking out Flyht's last presentation as well as their list of Certifications.. Both quite significant.. Cost of getting each approval is not only time consuming but expensive..
FLYHT Signs USD $2.1 Million Sales Contract with Azur Aviation
CALGARY, AB--(Marketwired - October 17, 2017) - FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) ( FLYLF) (the "Company" or "FLYHT") is pleased to announce the sale of its Automated Flight Information Reporting System (AFIRS™) and FLYHTLog™ services to Azur Havacilik A.S (Azur Aviation), based in Antalya, Turkey.
The value of FLYHT's agreement with Azur Aviation is USD $2.1 million, assuming the Company provides hardware over the full term of the five (5) year contract. Additional subscription data services may be added in the future, further increasing the value of the sales contract.
FLYHT has all of the necessary Supplemental Type Certificates (STC's) to complete installation on Azur Aviation's fleet of B767, B737 and B757 aircraft. Installations are anticipated to begin in the first quarter of 2018.
"FLYHT will provide an advanced and innovative solution for Azur's long-range communication needs and for complying with GADSS standards," said Mr. Salih Dinc, Engineering Manager of Azur Havacilik. "In fact, our airline will exceed those standards with FLYHT's solution." Mr. Dinc added, "Their solution will also enable our mixed fleet of aircraft to transmit data in a similar format, helping us reduce downline costs related to translating data."
"Azur Aviation is FLYHT's first customer in the Middle East for 2017, which was one of our corporate goals for this year," said David Perez, the Company's Vice President of Sales and Marketing. Mr. Perez added, "Azur is a recognized airline in the region and our agreement with them helps establish a firmer foothold for FLYHT in the region."