FLYHT Re-signs Loyal Customer to Five-Year Contract

May 22, 2018

FLYHT Aerospace Solutions Ltd. (TSX-V:FLY) (OTCQX:FLYLF) (the “Company” or “FLYHT”) is pleased to announce a Software as a Service (SaaS) contract renewal with an existing customer.

The value of this renewal agreement with the airline is USD $1.03 million, assuming the Company provides services over the full term of the five (5) year contract.

The airline operates in North America and uses the Automated Flight Information Reporting System (AFIRSTM) and associated UpTimeTM capabilities to monitor and manage its aircraft on many short-haul flights. The suite of services FLYHT provides to this operator across its fleet has expanded over the years, beginning with voice and data communications through the Iridium network including real-time aircraft tracking with FLYHTLogTM. AFIRS also provides an integrated quick access recorder (QAR). The airline then added airframe exceedances and engine monitoring through FLYHTHealthTM and has achieved significant benefits from this combined functionality.
[null, {"document_url": "https://www.marketforecast.com/industrynews/flyht-re-signs-loyal-customer-to-five-year-contract-44026", "unformatted_src": "/NewsImages/b/44026/44343_W300.jpg", "src": "https://www.marketforecast.com/NewsImages/b/44026/44343_W300.jpg", "alt_text": "FLYHT Re-signs Loyal Customer to Five-Year Contract"}, null, {"document_url": "https://www.marketforecast.com/industrynews/flyht-re-signs-loyal-customer-to-five-year-contract-44026", "unformatted_src": "../../content/reportimages/1061/cover_100.png", "src": "https://www.marketforecast.com/content/reportimages/1061/cover_100.png", "formatted_filename": "cover", "alt_text": "Global Space Industry Market and Technology Forecast to 2026"}, null]