Long-term OEM Partner Engages FLYHT for Design Refresh for Airbus Line Fit Satcom Program

Rhea-AI Summary

FLYHT Aerospace Solutions announces a new engineering and design contract with its long-term OEM partner for technology refresh, reinforcing the successful AFIRS 228S line fit program with Airbus. The $360,000 USD contract aims to extend the program's longevity, showcasing confidence in FLYHT's product quality and revenue stream.

CALGARY, AB / ACCESSWIRE / March 19, 2024 / FLYHT Aerospace Solutions Ltd. ("FLYHT" or the "Company") (TSXV:FLY)(OTCQX:FLYLF) today announced that its long-term OEM partner has engaged the Company to undertake engineering and design work on the technology that it licenses from FLYHT as part of its Airbus line fit satcom program. The refresh of the technology positions the two partners to extend the longevity of this successful program with Airbus.

As part of this long-standing program, FLYHT supports its OEM partner in delivering a customized version of the AFIRS^TM 228S to support voice and data communications used in the cockpit of Airbus aircraft anywhere in the world through the Iridium^® satellite network.

"The request by our long-term OEM partner to refresh the modem design is the surest indication that the AFIRS 228S line fit program with Airbus remains strong," commented Gurjot Bhullar, VP of Operations at FLYHT. "It is a reflection of the high quality of FLYHT's product and their acceptance and reliance upon it. We have increased confidence that this revenue stream will continue well into the future."

This technical services contract is valued at approximately $360,000 USD with work expected to be completed over the coming months. It builds upon a relationship previously discussed in press releases dated July 2014, August 2019, February 2020, July 2021, October 2021, May 2022, and June 2023. This program has resulted in the shipment of over 3,200 units to Airbus to date.

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.

Contact Information:

FLYHT Aerospace Solutions Ltd. Alana Forbes Chief Financial Officer 403.291.7437 investors@flyht.com

FNK IR LLC Matt Chesler, CFA Investor Relations 646.809.2183 mchesler@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.

View the original press release on accesswire.com

FAQ

What did FLYHT Aerospace Solutions announce regarding its long-term OEM partner?

FLYHT Aerospace Solutions announced that its long-term OEM partner has engaged the company to undertake engineering and design work on the technology that it licenses from FLYHT as part of its Airbus line fit satcom program.

What is the value of the technical services contract between FLYHT and its OEM partner?

The technical services contract is valued at approximately $360,000 USD.

How many units have been shipped to Airbus as part of the program?

The program has resulted in the shipment of over 3,200 units to Airbus to date.

Who commented on the OEM partner's request to refresh the modem design?

Gurjot Bhullar, VP of Operations at FLYHT, commented on the OEM partner's request to refresh the modem design.

What does the refresh of the technology aim to achieve?

The refresh of the technology aims to extend the longevity of the successful AFIRS 228S line fit program with Airbus.