FLYHT AEROSPACE SLTNS LTD - FLYLF STOCK NEWS

FLYHT Aerospace Solutions Ltd. announced the granting of 300,000 incentive stock options to employees at an exercise price of $0.64 per share, subject to regulatory approval. The options will vest immediately and expire on June 30, 2023. Under the stock option plan, a maximum of 10% of outstanding shares are reserved. FLYHT provides innovative aviation solutions aimed at enhancing operational efficiency, safety, and profitability through patented hardware products.

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.

FLYHT Aerospace Solutions Ltd. (FLYLF) announced that Coral Jet, a new airline, will be the launch customer for FLYHT's AFIRS Edge product. This contract, valued at approximately $100,000 USD over five years, positions the Edge as a key tool for enhancing operational efficiency and reducing emissions.

The AFIRS Edge serves as an interface device, offering advanced analytics, aircraft data access, and real-time performance monitoring. FLYHT aims to complete the required certification process for additional aircraft models this year.

FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) announced its participation in several upcoming investor conferences. CFO Alana Forbes will present at the MicroCap Rodeo Spring Into Action Best Ideas Conference on May 17, 2022. CEO Bill Tempany and President Kent Jacobs will present at the LD Micro Invitational XII from June 7-9, 2022. Additionally, Tempany will meet investors at the Emerging Equities VIP Event on June 11, 2022. FLYHT provides advanced aviation solutions to improve safety and efficiency, using patented technology for real-time data transmission and analysis.

FLYHT Aerospace Solutions Ltd. (TSXV:FLY, OTCQX:FLYLF) announced the granting of stock options for 518,715 common shares to employees, officers, and directors, pending regulatory approval. The options are priced at $0.74 per share and will vest over three years, expiring May 4, 2026. This is in accordance with the stock option plan approved at the Annual and Special Meeting on May 4, 2022. The options are subject to a four-month resale restriction, with a maximum of 10% of outstanding shares reserved under the plan.

FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) has secured a purchase order worth US$5.65 million for Iridium modems and license fees from a long-time OEM partner. This order highlights the ongoing recovery in the airline industry and signals strong demand for FLYHT’s products, particularly the AFIRS 228S system, which will be installed on three aircraft types for a European airframer. Deliveries are scheduled for the remainder of 2022. CEO Bill Tempany noted the recovery in North America and Europe, with expectations for Southeast Asia and China to follow into early 2023.

FLYHT Aerospace Solutions Ltd. reported its highest revenue quarter in two years for Q1 2022, with a total revenue of $5,030,657, up 87% year-over-year. Key growth drivers included significant increases in Licensing revenue (up 523%) and Hardware revenue (up 154%). Despite a net loss widening to $1,284,347, the EBITDA loss narrowed to $937,630. Operating expenses increased 43%, but management expressed optimism regarding future performance, citing a focus on sustainability and the potential for new product launches as a strategy for growth.

FLYHT Aerospace Solutions Ltd. and MBS Electronic Systems GmbH have developed a prototype for a secure wireless avionics software vault and onboard data loading solution. This collaboration aims to help airlines comply with new security requirements, offering a more efficient and cost-effective data loading process. The prototype will be demonstrated at the Aviation Maintenance Conference in Memphis from May 10-12, 2022. Both companies are working towards qualifying and certifying the solution within six months, responding to a growing market demand.

FLYHT Aerospace Solutions Ltd. will present its Q1 2022 financial results during its Annual and Special Meeting on May 4, 2022, at 2:00 PM MT (4:00 PM ET). The meeting will be held virtually via webinar, featuring a presentation followed by a Q&A session. Interested participants can submit questions in advance to investors@flyht.com. The event can be accessed online, or via phone at the toll-free number 1-800-319-4610 in Canada/U.S. An archive will be available on the Investor Relations section of FLYHT's website.