FLYHT Launches UpTime™ Cloud Software

Calgary, Alberta – March 20, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the official launch of its latest software, UpTime™ Cloud.The UpTime Cloud web portal improves the Company’s software

The UpTime Cloud web portal improves the Company’s software usability, while providing enhancements to security and infrastructure. The new web-based interface allows customers to access all products through a single web portal, providing an improved look and feel. Customers receive real-time aircraft data feeds through UpTime Cloud’s web-based application. The goal of the new cloud-based solution is to allow airlines to “manage by exception”, focusing on the operational problems that cause delays, cancellations and overall flight disruptions.

UpTime Cloud allows airlines to send and receive text messages, alerts, notifications, and conduct remote systems diagnostics, which allows them to access aircraft data in real time and define the content and amount of data they receive.

With UpTime Cloud, FLYHT can provide airline executives, operations, maintenance directors, and other stakeholders, tailored views on their business data to help them make informed, cost-saving and potentially lifesaving decisions,” remarked David Perez, Vice President, Sales and Marketing. “Our products give them insight into their operations, enabling them to take appropriate action to control and grow their business.”

The UpTime Cloud suite of products includes Iridium satellite communications with FLYHTMail™ and FLYHTVoice™; real-time flight tacking with FLYHTLog™ and FLYHTASD™ (aircraft situational display); aircraft health monitoring with FLYHTHealth™; along with fuel management, FLYHTFuel™ and real-time flight data recorder streaming, FLYHTStream™.

UpTime Cloud products are part of FLYHT’s ongoing effort to offer greater value to customers by delivering a configurable flight tracking solution combined with business intelligence applications and data analytics. The UpTime Cloud solution has been deployed for select customers. New customers will be enabled on Uptime Cloud while legacy customers will migrate to Uptime Cloud over time according to their business priorities.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 70 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.4 million aggregate flight hours and 1.6 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Signs New Chinese Airline for USD $1.68 Million Sales Contract

Calgary, Alberta – March 1, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is excited to announce the sale of the Automated Flight Information Reporting System (AFIRS™) to a new commercial airline customer in the People’s Republic of China.  This sale was the result of a competitive bid process that FLYHT won against other major Original Equipment Manufacturer (OEM) suppliers.

“This is another important win for FLYHT as we continue to demonstrate our value to the Chinese market,” remarked Michael Fang, FLYHT’s Vice President China Sales. “Airlines in the region can learn more about our technology in April when we present and exhibit at the 4th China Aviation New Technology Forum in Shanghai.”

The initial contract for the sale of AFIRS hardware is valued at approximately USD $1.68 million assuming FLYHT provides the hardware over the full term of the five (5) year agreement. FLYHT’s data services may be added in the future, further increasing the value of the contract.

FLYHT has all the necessary Supplemental Type Certificates (STC’s) to complete installation on the designated aircraft within this contract. Installations are anticipated to begin in the third quarter of 2017.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 60 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.4 million aggregate flight hours and 1.6 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Enters USD $1.3 Million Sales Contract with Existing Chinese Customer

Calgary, Alberta – January 26, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce it has entered a contract with an existing customer in the People’s Republic of China for the sale of the Automated Flight Information Reporting System (AFIRS™) for installation on Airbus A320 and Airbus A320NEO.

This contract for the sale of AFIRS 228 hardware is valued at approximately USD $1.3 million assuming FLYHT provides the hardware over the full term of the agreement. The operator is adding new Airbus A320 aircraft to its current fleet of CRJ-900 aircraft. The customer will install AFIRS as they take delivery of the new aircraft. This operator was highlighted in a previous press release, FLYHT Signs its First Chinese Customer for Data Services on August 15, 2016. FLYHT data services may be added to these new aircraft when they are placed into service, further increasing the value of the contract.

Installations are anticipated to begin in the middle of 2017; FLYHT currently owns required Supplemental Type Certificates (STC’s) to commence the installations on the A320 and will pursue updates for the A320NEO.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 60 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.4 million aggregate flight hours and 1.6 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Provides Fourth Quarter Update

Calgary, Alberta – January 4, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the following updates to sales activity in the fourth quarter of 2016:

  • Received orders from an existing OEM partner (see release on July 15, 2014) for approximately USD $1.8 million of parts with related license fees.
  • Signed two new airline customers in The People’s Republic of China (China) for Automated Flight Information Reporting System (AFIRS™) 228 hardware equipment and added units with an existing customer in the region. These contracts will total approximately USD $709,000 assuming FLYHT provides services over the full term of the five (5) year agreements. The new contracts bring the number of FLYHT customers in China to 20.
  • Two existing customers added AFIRS 228 units with voice and data services; one airline operates in North America and the other in Africa. The contract revenue will be approximately USD $811,000 assuming FLYHT provides services over the full term of the five (5) year agreements.

Additionally, the Company’s outstanding redeemable debentures matured and were repaid in full for $3.1 million on December 23, 2016.

FLYHT was awarded an additional Supplemental Type Certificate (STC) by the General Administration of Civil Aviation of China (CAAC).  This allows further installation of the AFIRS solution on the CRJ 100, 200, 440, 700 and 900 aircraft.

“FLYHT has had a successful 2016 and we are excited about what 2017 may bring,” remarked FLYHT’s CEO Tom Schmutz. “Some of the highlights from the past year include the $2.5 million USD IP license fee receipt, the acquisition of a $2.35 million interest-free government loan, the signing of eight new airlines in China and significant strengthening of our balance sheet with the repayment of $5.6 million in matured debentures.”

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 60 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.4 million aggregate flight hours and 1.6 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Joins a Select Group of Canadian Companies with CAAC Part-145 Approval

Calgary, Alberta – December 1, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced it has been granted CAAC Part-145 approval by the Civil Aviation Administration of China (CAAC).

The approval took almost two years to achieve and now allows FLYHT to repair Automated Flight Information Reporting System (AFIRSTM) units and return them to customers in China with an AAC-038 release certificate. The AAC-038 is a maintenance release document that allows for AFIRS 228 installation on Chinese-registered aircraft under the CAAC Part-145 approval. Previously, FLYHT supplied new units for warranty exchange, so this approval will improve efficiency and convenience for Chinese customers by allowing units to be repaired and returned.

“FLYHT joins only four other companies in Canada with CAAC Part-145 approval,” remarked Vinay Parmar, Quality Assurance Manager at FLYHT. “The approval is an added benefit to airlines and our customers in China who value CAAC approval.”

FLYHT does not require maintenance approval for countries with whom Canada has bi-lateral agreements as they accept authorized release certificates issued in Canada.  China is an important market for FLYHT and does not yet have a bi-lateral agreement with Canada that encompasses the release tags required so the ability to issue an AAC-038 release for repairs performed in Canada is beneficial.

This CAAC Part-145 approval is independent of the maintenance repair company contract in the Peoples Republic of China announced on November 28, 2016 and provides further service alternatives for our customers.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.3 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Contracts with a Maintenance Repair Company in China

CALGARY, AB–(November 28, 2016) – FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced a contract with Guangzhou Aircraft Maintenance Engineering Company Limited (GAMECO) to provide repair services to FLYHT’s customers in the People’s Republic of China (China). GAMECO specializes in aircraft and airborne component maintenance, repair and overhaul (MRO).

Pursuant to the contract, GAMECO will operate a repair depot located in Guangzhou to service the Automated Flight Information Reporting System (AFIRS™) units purchased by FLYHT’s customers in the region. The contract appoints GAMECO as the sole service centre in China for FLYHT supplied and serviced products.

“With the growth of the market for AFIRS in China, we wanted to introduce maintenance support in the region to provide service alternatives for our customers,” remarked FLYHT’s VP, Operations and Customer Fulfillment Matieu Plamondon. “FLYHT’s business in China has grown significantly in the last few months. We currently have a total of 19 customers and continue exploring new relationships with other interested parties in the region.”

Contracting for repair depot services in China was an important milestone in the 2016 “FLYHT Plan”, the Company’s annual goals.

“GAMECO is very excited about entering this partnership with FLYHT Aerospace Solutions. We are committed to delivering excellent service on FLYHT’s products. Together, we want to benefit customers, offering them an easy support solution right here in the region. This is an important step for us in our future development,” stated GAMECO’s Manager of the component business centre, Jin Yao Ming. “Nowadays, GAMECO is putting more focus on developing markets abroad.”

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.3 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

About GAMECO

Guangzhou Aircraft Maintenance Engineering Company Limited (GAMECO), established in October 1989 at Guangzhou Baiyun International Airport, is a joint venture between China Southern Airlines Co. Ltd. (CSN) (50%) and Hutchison Whampoa (China) Ltd. (HWCL) (50%) from Hong Kong, that specializes in aircraft and airborne component maintenance, repair and overhaul.

As a MRO approved by CAAC, FAA, EASA and many other aviation authorities in the Asia-Pacific Region, and as a Civil Aircraft Designated Modification Design Organization Representative (DMDOR) and with a CAAC-PMA Certificate approved by the Central & Southern Regional Administration of CAAC, GAMECO is capable of performing multi-levels of aircraft maintenance checks, modification and engineering services on multiple aircraft types of Boeing, Airbus and Embraer aircraft. The company operates a state-of-art Component Business Center, providing extensive component repair & overhaul services to customers and supporting very competitive, internal maintenance schedule commitments.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Awarded Western Innovation Initiative (WINN) Loan of $2.35 Million

Calgary, Alberta – November 9, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) has been selected as the recipient of a $2.35 million interest free WINN loan by Western Economic Diversification Canada.

FLYHT applied for the WINN financial contribution in the spring of 2016 to support plans for technology development in the air and ground components of its satellite/aircraft communications systems. The Company was selected for the interest free loan in a competitive evaluation process that included FLYHT’s business plan, technology, commercial viability, internal expertise and capabilities.

“It’s really exciting to have been selected for WINN funding which greatly contributes to the work we do in the aerospace sector in Alberta,” remarked FLYHT’s program manager, Flint Walters. “With these funds, we plan to upgrade the Automated Flight Information Reporting System (AFIRS™) and commercialize the Company’s cloud-based UpTime™ software which includes functionality to better support new and current customers.”

“FLYHT is poised to be a global player in the aircraft communications technology sector and the innovative satellite systems it is developing can solve real challenges in the industry. The Government of Canada’s investment in companies such as FLYHT will generate real growth for the local economy and provide jobs for our skilled workers,” Darshan Kang, Member of Parliament for Calgary Skyview on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada

The WINN funding will be used for FLYHT projects occurring between September 5, 2016 and December 10, 2018. The loan will be repaid between January 2020 and December 2024.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.3 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

About the Western Innovation Initiative (WINN)

WINN is a Canadian federal government program designed to stimulate greater private sector investment in western Canadian commercialization activities.  It helps businesses with less than 500 employees commercialize innovative technology-based products, processes or services by providing an interest free loan of up to $3.5M. Western Innovation (WINN) Initiative


Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

Donna Kinley
Regional Communications Manager
Western Economic Diversification Canada
780-495-6892
donna.kinley@canada.ca

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.

FLYHT Reports Third Quarter Results

Second Consecutive Profitable Quarter and Record Revenue

Calgary, Alberta – November 8, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) a leading provider of real-time data communication technology and services for the aerospace industry today reported financial results for its third quarter ended September 30, 2016.

“FLYHT again set a record for traditional revenue and for the first time in its history logged back-to-back profitable quarters,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “I am very pleased with the Company’s performance.”

Third Quarter Results Include:

  • Traditional revenue of $4,054,368 in the third quarter, a 60.9% increase from Q3 2015, bringing the nine-month result to $10,203,364, 52.6% ahead of the prior year.
  • AFIRS™ sales of $1,353,021 showed an increase of 120.6% over the third quarter of 2015, and parts sales of $1,561,816 increased 128.8%. These revenue categories are 71.2% and 105.5%, respectively, ahead of the prior year in the first nine months. Recurring revenue (voice and data services) of $1,122,965 increased 2.1% over the prior year quarter or 9.8% ahead of the prior year three quarters.
  • Net profit for the quarter was $303,888 compared to a loss of $683,224 in the same period last year. This brings the year to a net profit of $1,633,009, a $4,320,571 increase in profitability over the prior year.
  • Distribution expense decreased 2.9% in the quarter ($32,797) compared to the prior year mainly because decreased contract labour and share based remuneration cost offset higher salaries and benefits.
  • Salaries and benefits, which offset decreases in investor relations and travel expense, increased Q3 administration expense 1.8% to $618,763 compared to the third quarter of 2015.
  • Research, Development and Certification Engineering expenses decreased $87,660 in Q3 2016 and $237,867 in the first nine months of 2016; mainly as a result of changing people cost and office expenditure.
  • Modified Working Capital at the end of Q3 2016 was positive $2,879,375 compared to negative $3,306,055 at December 31, 2015.
  • Customer deposits of $508,224 at quarter end, were a 3.1% decrease from Q3 2015; payments received of $242,260 were 70.6% lower than the same quarter of 2015 although the year to date was 35.7% higher than the comparable period in 2015. The value of deposits moved to unearned revenue reciprocally decreased $620,146 compared to Q3 2015 but increased $817,131 on the year-to-date.
  • Unearned revenue decreased to $747,511 or 61.1% lower than the third quarter of 2015 and 31.2% lower than December 2015 as Q3 revenue recognized increased 185.2% compared to Q3 2015;
  • Revenue recognized on AFIRS units shipped was higher than in Q3 2016. 25 kits were recognized in 2016 compared to eight in the third quarter of 2015 and 61 in total in 2016 compared to 30 in the first nine months of 2015.
  • AFIRS units shipped, not yet recognized in revenue in 2016 exceeded 2015 by $817,131 or 43.8%.

For detailed information, FLYHT’s 2016 Third Quarter Report containing the CEO’s Message, Management Discussion and Analysis and Financial Statements has been posted to the Company’s website and can be accessed at http://flyht.com/financial-reports/. The MD&A and Financial Statements have also been sent to SEDAR and will be accessible at www.sedar.com.

FLYHT will host a live conference call to discuss third quarter results on Wednesday, November 9, 2016 at 9 am MDT (11 am EDT, 8 am PDT). The conference call will include a brief presentation about FLYHT’s third quarter results followed by a question and answer period with management.

To access the conference call by phone within Canada and the U.S.A., the toll-free number is 1-800-319-4610.  Outside Canada and the U.S.A., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail.  Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/presentation-and-webcast/

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.3 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Aerospace Solutions Ltd. Schedules Third Quarter Conference Call

Calgary, Alberta – November 2, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) has scheduled a live conference call to discuss its third quarter results to be held Wednesday, November 9, 2016 at 9 am MDT (11 am EDT, 8 am PDT).

The conference call will include a brief presentation from FLYHT’s CEO Thomas R. Schmutz and CFO Nola Heale about FLYHT’s third quarter results followed by a question and answer period with management.

To access the conference call by phone within Canada and the U.S.A. the toll-free number is 1-800-319-4610. Outside Canada and the U.S.A., dial 1-604-638-5340. (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail. Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/presentation-and-webcast/

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2.3 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Provides Third Quarter Sales Update

Calgary, Alberta – October 5, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the following updates to customer and parts sales activity in the third quarter of 2016:

  • Received parts orders from an existing OEM partner (see release on July 15, 2014) for approximately USD $1.0 million of parts with related license fees.
  • Signed one new sales agreement for AFIRS 228 hardware equipment of approximately USD $227,000 in the People’s Republic of China.
  • Signed an order for voice and data services for an operator in Africa which will total USD $156,000 assuming FLYHT provides services over the full term of the five (5) year agreement.

FLYHT continued to update its certifications during the quarter. FLYHT received the supplemental type certificate (“STC”) from the Federal Aviation Administration (“FAA”) for the ATR 42-300 and ATR 72-100/200 aircraft.

China Update
In addition to these orders, FLYHT announced its first Chinese customer for data services in a press release on August 15, 2016.  During 2016, FLYHT has signed six new contracts in China, five for hardware and one for data services. This brings the contracted number of operators in China to 17 through the end of the third quarter of 2016, and to 18 with the press release announcement on October 3, 2016. FLYHT recognizes the strategic importance of the China market.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Enters into USD $4.26 Million Sales Contract in China

CALGARY, ALBERTA (October 03, 2016) – FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is excited to announce it has entered into an agreement with an Information Technology (IT) Company that implements data solutions for Chinese commercial aviation operators in the People’s Republic of China for the sale of the Automated Flight Information Reporting System (AFIRS™) 228S.

The initial contract for the sale of AFIRS 228S hardware is valued at approximately USD $4.26 million assuming FLYHT provides the hardware over the full term of the five (5) year agreement. FLYHT data services may be added in the future, further increasing the value of the contract.

“FLYHT is pleased to announce this contract which shows strategic growth in China,” remarked Michael Fang, FLYHT’s Vice President China Sales. “Our IT customer contracted this hardware purchase for just one of their airline customers using Embraer 190 and 195 aircraft. Should they choose to enable FLYHT’s real-time data, they will see enhanced benefits by feeding data to applications that manage, monitor and track aircraft. We look forward to future growth of this relationship as we explore opportunities to support their other airline customers.”

Installations are anticipated to begin once the necessary approvals of FLYHT’s Supplemental Type Certificates (STC’s) for the Embraer aircraft are received. It is anticipated that the General Administration of Civil Aviation of China’s (CAAC) approval for the E190 STC will be received in early 2017 and the application for the E195 STC will begin in early 2017.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Signs its First Chinese Customer for Data Services

Calgary, Alberta – August 15, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the launch of real-time data services in the People’s Republic of China. The undisclosed airline is the first Chinese customer to select data services provided by the Automated Flight Information Reporting System (“AFIRS™”) on its fleet of CRJ-900 aircraft. This Chinese operator receives their new aircraft with AFIRS already installed from Bombardier as a line-fit option.

The aggregate data services revenue on this contract is initially valued at $1,050,000 USD assuming FLYHT provides services over the full term of the five (5) year agreement. The announced contract value is based upon the current in-service quantity of AFIRS-enabled Bombardier CRJ aircraft and an initial set of enabled data services provided by FLYHT’s cloud-based UpTime™ products. The airline may add more aircraft to its operations in the future and may request that FLYHT provide these services to the additional aircraft as they join the airline’s fleet, further increasing the value of the service contract. Additional UpTime products are available for the operator to add to the contract, which could also further increase the contract’s value.

“FLYHT is pleased to provide data services for customers in China to enable cost savings and improved operational efficiencies,” remarked Michael Fang, FLYHT’s Vice President of China Sales. “By receiving real-time data, airlines can track their aircraft and AFIRS will alert the airline to any issues which allows them to be proactive with their maintenance and operations. We believe that signing this airline may open FLYHT up to new possibilities in China as other airlines see the value that real-time data can provide.”

AFIRS is now contracted on over 100 aircraft in China with more units on order. FLYHT is positioned to capture additional value from its investments in the country with the delivery of data services and the recurring revenue that comes with it. This launch customer allows FLYHT to demonstrate the value and effectiveness of UpTime services to other China clients who have installed AFIRS for FLYHTVoice™ but have not yet enabled the cost saving data services possible with AFIRS.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Reports Second Quarter Results – Record Revenue of $6.7M

Calgary, Alberta – July 27, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) a leading provider of real-time data communication technology and services for the aviation industry today reported financial results for its second quarter ended June 30, 2016.

“FLYHT is excited to share our second quarter results. The Company reported the highest sales revenue on record at $6.7 million for the quarter, which includes our traditional revenue and a previously disclosed sale of intellectual property,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “We signed several contracts in the quarter, raised equity, retired a mature debenture and ended the first six months of the year with total revenues of $9.4 million, a figure close to the $10.5 million we achieved in the full year of 2015.”

Second Quarter Results Include:

  • Traditional revenue of $3,537,665 in the second quarter, a 121% increase from Q2 2015, bringing the six-month result to $6,148,996, 48% ahead of the prior year.
  • Recurring revenue (voice and data services) of $1,014,725 showed an increase of 18.7% over the second quarter of 2015, and parts sales of $1,126,542 increased 294.6%. These revenue categories are 14.5% and 91.4%, respectively, ahead of the prior year in the first six months.
  • Net profit for the quarter was $2,572,061 compared to a loss of $1,943,924 in the same period last year, a $4,515,985 increase in profitability and contributes to a $1,329,119 profit at the half-year.
  • Distribution expense increased $261,453 (26.5%) due mainly to higher people costs compared to the prior year.
  • Salaries and benefits increased administration expense 16.9% to $1,103,399 compared to the second quarter of 2015.
  • Research, Development and Certification Engineering cost decreased $336,871 in Q2 2016 and $150,206 in the half-year; mainly as a result of changing salaries and benefits.
  • Modified Working Capital at the end of Q2 2016 was positive $4,070,452 compared to negative $3,306,055 at December 31, 2015.
  • Customer deposits of $810,234 at quarter end, was a 6.3% decrease compared to Q2 2015; payments received of $1,014,022 were 239.3.0% higher than the same quarter of 2015 and the value of deposits moved to unearned revenue increased 215.2% compared to Q2 2015.
  • Unearned revenue increased to $1,561,020 or 26.2% higher than the second quarter of 2015 and 43.6% ahead of December 2015;
  • Revenue recognized on AFIRS units shipped was higher than in Q2 2015 as clients have installed 27 kits in Q2 2016 compared to seven in the second quarter of 2015 and 36 in total in 2016 compared to 22 in the first half of 2015.
  • AFIRS sales shipped, not accepted in 2016 exceeded 2015 by $1,437,277 or 205.1%.
  • A private placement offering was closed for $5,086,512 in May 2016 and in June a debenture matured and was redeemed for $2,321,000.

For detailed information, FLYHT’s 2016 Second Quarter Report containing the CEO’s Message, Management Discussion and Analysis and Financial Statements has been posted to the Company’s website and can be accessed at http://www.flyht.com/investors/financial-reports-results-centre/. The MD&A and Financial Statements have also been sent to SEDAR and will be accessible at www.sedar.com.

FLYHT will host a live conference call to discuss second quarter results on Thursday, July 28, 2016 at 9 am MDT (11 am EDT, 8 am PDT). The conference call will include a brief presentation about FLYHT’s second quarter results followed by a question and answer period with management.

To access the conference call by phone within Canada and the U.S.A., the toll-free number is 1-800-319-4610.  Outside Canada and the U.S.A., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail.  Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed in advance or during the conference call to investors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/investors/videos/

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Aerospace Solutions Ltd. Schedules Second Quarter Conference Call

Calgary, Alberta – July 21, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) has scheduled a live conference call to discuss its second quarter results to be heldThursday, July 28, 2016 at 9 am MDT (11 am EDT, 8 am PDT).

The conference call will include a brief presentation from FLYHT’s CEO Tom Schmutz and CFO Nola Heale about FLYHT’s second quarter results followed by a question and answer period with management.

To access the conference call by phone within Canada and the U.S.A the toll-free number is 1-800-319-4610. Outside Canada and the U.S.A., dial 1-604-638-5340.  (Callers should dial in five to 10 minutes prior to the scheduled start time).

Management will accept questions by telephone and e-mail. Individuals wishing to ask a question during the call, can do so by pressing *1. Questions can be emailed in advance or during the conference call toinvestors@flyht.com.

An archive of the conference call will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available from the conference call provider. http://flyht.com/investors/videos/

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.

FLYHT Provides Quarterly Update

Calgary, Alberta – July 6, 2016 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the following updates: •

  • During the second quarter of 2016, FLYHT signed three new contracts for voice and data services. Two of the airlines elected to turn on the services after purchasing preowned aircraft with the Automated Flight Information Reporting System (“AFIRS™”) already installed. In the case of the third airline, the value of the hardware sale was accounted for in a contract in the Fall of 2015 (see press release dated September 28, 2015). New, aggregate data services revenue on the three new contracts will be approximately $304,000 USD assuming FLYHT provides services for the full term of the agreements. Optional services are available to the customers in addition to what has been ordered.
  • FLYHT is also pleased to report that a former client that had been discontinued for non-payment in 2014, has extended their contract, paid their arrears and added additional aircraft to the service agreement. Aggregate data and hardware revenue on this contract will be approximately $972,000 USD assuming FLYHT provides services over the full term of the agreement.These four airlines bring the number of new direct sales contracts signed in the second quarter to five (including one customer in China announced in a press release dated April 25, 2016). The combined value of the new contracts signed in the second quarter is $2.3 million USD over the term of the agreements.
  • In the quarter FLYHT added further certifications with the receipt of the Civil Aviation Administration of China (“CAAC”) supplemental type certificate (“STC”) for the Boeing 767 200 and 300 series. This STC is important to FLYHT because FLYHT has a Chinese Operator under contract with five 767s. Management of FLYHT anticipates that the operator is close to completing the first AFIRS 228 installation with the second installation underway.
  • The Company’s outstanding redeemable debentures matured and were repaid in full by FLYHT for $2.5 million on June 30, 2016.

About FLYHT Aerospace Solutions Ltd.

FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 50 customers, including airlines, leasing companies, and original equipment manufacturers, have installed our systems in order to increase safety, improve operational efficiencies and enhance profitability. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS™), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data. AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTime™ ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction. AFIRS has flown over 2 million aggregate flight hours and 1.5 million flights on customers’ aircraft. FLYHT holds supplemental type certificates (STC) which allow for the installation of AFIRS on 95% of transport category aircraft.

Contact Information

FLYHT Aerospace Solutions Ltd.
Nola Heale, CPA (CA)
Chief Financial Officer
403-291-7425
nheale@flyht.com 

Investor Relations
The Howard Group Inc.
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.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.