FLYHT's CrossConsense Secures Additional Contracts for Aircraft Data Migration
FLYHT Aerospace Solutions (TSXV:FLY)(OTCQX:FLYLF) announced that its subsidiary, CrossConsense, has secured two new contracts for aircraft data migration services. The first contract expands CrossConsense's relationship with a leading management consultancy, managing a project for a large European flag carrier. The second contract involves collaborating on the design phase of a data migration project for a global logistics leader.
These contracts, valued at approximately €300,000, are expected to be delivered by the end of 2024. They highlight CrossConsense's expertise in AMOS support and data migration, showcasing additional growth opportunities for FLYHT beyond its 5G aviation and weather solutions.
- Secured two new contracts for aircraft data migration services
- Expanded relationship with existing client (management consultancy)
- New contract with global leader in logistics industry
- Combined contract value of approximately €300,000
- Demonstrates growing demand for CrossConsense's MRO services
- None.
CALGARY, AB / ACCESSWIRE / July 18, 2024 / FLYHT Aerospace Solutions Ltd. ("FLYHT" or the "Company") (TSXV:FLY)(OTCQX:FLYLF) today announced that its wholly owned subsidiary, CrossConsense GmbH & Co. KG ("CrossConsense") has secured two new contracts, demonstrating the growing demand for its MRO services offering.
The first contract is an expansion of CrossConsense's relationship with a leading management consultancy, first announced in September 2023, in which CrossConsense is managing an aircraft data migration project for one of the consultancy's airline clients, a large flag carrier in Europe.
The second contract is with a global leader in the logistics industry, specializing in international shipping, courier services and transportation. CrossConsense has been chosen to collaborate on the design phase of a large data migration project for the company, which may evolve to future phases, implementation and other services.
"While we often focus on FLYHT's large opportunities in 5G aviation and weather solutions, these recent contract wins by CrossConsense highlight that AMOS support and data migration are additional important growth levers for our company," said Kent Jacobs, President and Interim CEO. "We are proud of CrossConsense's accomplishments, which are a testament to the hard work and dedication of Axel and the entire CrossConsense team."
Added Axel Christ, Managing Director of CrossConsense, "Handling complex data processes with precision and efficiency is at the heart of what we do and what sets us apart in the competitive aviation market. We are grateful that existing and new customers are increasingly recognizing our deep industry knowledge, innovative approach, and unparalleled customer support."
CrossConsense supports the aviation industry with its expertise in the application and utilization of SWISS AviationSoftware's comprehensive Aircraft Maintenance and Engineering Operating System ("AMOS") software solution. With a profound understanding of airline maintenance operations and supporting Maintenance, Repair, and Overhaul ("MRO") products, the company offers a range of solutions in this market including maintenance, engineering, and logistics solutions, as well as data migration, business intelligence, customization, and consulting services. Core offerings include: AMOS Support, AMOS Hosting & Operation, Aircraft Fleet View (app for real-time insights into an airline's fleet status), Aircraft Condition and Status Information System (ACSIS), and Aviation Data Warehouse (Aviation DW).
The combination of these two contracts is valued at approximately €300,000, expected to be delivered by the end of 2024.
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, AFIRS™. Solutions include an aircraft satcom/interface device that enables cockpit voice communications, transmission of aircraft data both while inflight via satellite and post-flight via 5G, real-time aircraft state and fleet status analysis, and preventative maintenance solutions. FLYHT's hardware products can also be interfaced with FLYHT's proprietary relative humidity sensors to deliver airborne weather and humidity data in real-time.
FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. 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 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 |
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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