FLYHT Announces Completion of AFIRS Installation on Initial China Express ARJ-21 Aircraft

Rhea-AI Summary

FLYHT Aerospace Solutions Ltd. (TSX-V:FLY) (OTCQX:FLYLF) has completed successful installation and testing of the first AFIRS 228S unit on an ARJ21 aircraft for China Express Airlines. This marks a significant step as the aircraft enters commercial service today. China Express has a commitment for 20 ARJ21 aircraft, with plans to order up to 100 over the next several years. CEO Bill Tempany highlighted the importance of this milestone in their ongoing relationship with China Express and their dedication to enhancing operational reporting across various aircraft types.

Positive

• Successful installation and testing of AFIRS 228S unit on ARJ21 aircraft.
• China Express Airlines committed to purchasing up to 100 ARJ21 aircraft.
• FLYHT's technology will enhance operational reporting for China Express.

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• None.

CALGARY, AB / ACCESSWIRE / June 7, 2022 / FLYHT Aerospace Solutions Ltd. (TSX-V:FLY) (OTCQX:FLYLF) (the "Company" or "FLYHT") today announced that successful installation and testing has been completed for the first of 20 AFIRS 228S units on ARJ21 aircraft ordered by China Express Airlines Co. Ltd., China's first private regional airline. All tests have been completed and the aircraft is planned to enter commercial service today. As communicated in September 2020, China Express will take delivery of 20 ARJ21 aircraft, with an expected commitment up to 100 aircraft to be delivered over the next several years. The ARJ21 is the newest Chinese developed and built aircraft.

Bill Tempany, CEO of FLYHT, stated, "It has been a long time in the making, but today I am proud to say that we have successfully completed this first installation of AFIRS on the ARJ21 and that our technology will be operational on this new aircraft type. We see the introduction of the ARJ21 into service with China Express as a continuing step in our relationship as we provide consistent reporting across the different aircraft types in their fleet. FLYHT remains committed to our customers in China and to working with COMAC on the CAAC STC installation of AFIRS."

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT's TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT's wholly owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the anticipated/projected revenues and related matters. Although FLYHT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. FLYHT cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company, including, but not limited to projected revenues. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to: global economic conditions; industry conditions, and supply chain delays. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. FLYHT undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Contact Information:

FLYHT Aerospace Solutions Ltd. FNK IR LLC
Alana Forbes Matt Chesler, CFA
Chief Financial Officer Investor Relations
403.291.7437 646.809.2183
aforbes@flyht.com flyht@fnkir.com
investors@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.

SOURCE: FLYHT Aerospace Solutions Ltd.

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FAQ

What recent milestone was achieved by FLYHT Aerospace Solutions Ltd. with China Express Airlines?

FLYHT successfully installed and tested the first AFIRS 228S unit on an ARJ21 aircraft for China Express Airlines.

How many ARJ21 aircraft has China Express Airlines ordered from FLYHT?

China Express Airlines has committed to purchasing 20 ARJ21 aircraft, with a potential order of up to 100 in the coming years.

What does the AFIRS technology provide for airlines?

The AFIRS technology offers actionable intelligence to improve aviation safety, efficiency, and profitability through real-time data transmission.

When did the ARJ21 aircraft enter commercial service?

The ARJ21 aircraft with the installed AFIRS technology entered commercial service on June 7, 2022.

What are the future prospects for FLYHT Aerospace Solutions Ltd.?

FLYHT aims to strengthen its relationship with China Express and expand their operational capabilities with additional installations in the future.