FLYHT Signs USD $2.1 Million Sales Contract with Azur Aviation

Calgary, Alberta – October 17, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the sale of its Automated Flight Information Reporting System (AFIRS™) and FLYHTLog™ services to Azur Havacilik A.S (Azur Aviation), based in Antalya, Turkey.

The value of FLYHT’s agreement with Azur Aviation is USD $2.1 million, assuming the Company provides hardware over the full term of the five (5) year contract. Additional subscription data services may be added in the future, further increasing the value of the sales contract.

FLYHT has all of the necessary Supplemental Type Certificates (STC’s) to complete installation on Azur Aviation’s fleet of B767, B737 and B757 aircraft. Installations are anticipated to begin in the first quarter of 2018.

“FLYHT will provide an advanced and innovative solution for Azur’s long-range communication needs and for complying with GADSS standards,” said Mr. Salih Dinc, Engineering Manager of Azur Havacilik. “In fact, our airline will exceed those standards with FLYHT’s solution.” Mr. Dinc added, “Their solution will also enable our mixed fleet of aircraft to transmit data in a similar format, helping us reduce downline costs related to translating data.”

“Azur Aviation is FLYHT’s first customer in the Middle East for 2017, which was one of our corporate goals for this year,” said David Perez, the Company’s Vice President of Sales and Marketing. Mr. Perez added, “Azur is a recognized airline in the region and our agreement with them helps establish a firmer foothold for FLYHT in the region.”

About FLYHT Aerospace Solutions Ltd.

FLYHT’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: FLY:TSX.V; FLYLF:OTCQX). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRS™) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTime™ cloud-based data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.


Contact Information

FLYHT Aerospace Solutions Ltd.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@flyht.com
Investor Relations – The Howard Group
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

 

Join us on social media!

www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.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.

FLYHT Announces New Chief Financial Officer and Schedules Third-Quarter 2017 Financial Results Conference Call

Calgary, Alberta – October 2, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the appointment of Derek Payne as Chief Financial Officer. Paul Takalo will remain Interim Chief Financial Officer until Mr. Payne assumes his new position on November 6, 2017. In the interim, Mr. Payne will serve as a financial consultant to FLYHT.

“I’m delighted to have Derek join FLYHT. He has over 19 years of experience in senior financial roles at high-growth public companies, including over nine years of experience in the aviation industry. Derek also brings a wealth of experience with regard to the Canadian and U.S. capital markets,” remarked Thomas Schmutz, FLYHT’s Chief Executive Officer. “I wish to thank Paul Takalo for the strong contributions he has made as interim CFO. We will continue to benefit from Paul’s invaluable guidance, as he will remain on FLYHT’s Board of Directors.”

Prior to his appointment as FLYHT’s Chief Financial Officer, Mr. Payne was Chief Financial Officer at Calgary-based DIRTT Environmental Solutions. Previously he was Chief Financial Officer at FilterBoxx Water and Environmental; Treasurer and Vice President of Finance at WestJet Airlines Ltd., where he also held a term position as Co-acting CFO. Mr. Payne obtained his Chartered Professional Accountant designation in 1996 and holds a Bachelor of Commerce degree from the University of Saskatchewan. Since June of 2012, Mr. Payne has been a volunteer board member of Hospice Calgary and currently serves as the organization’s Board Treasurer and Chair of its Finance Committee.

Third-quarter Financial Results Conference Call
FLYHT will host a live conference call to discuss its third-quarter 2017 financial results on November 3, 2017 at 7:00am MDT (9:00am EDT, 6:00am PDT).

On the conference call, FLYHT’s CEO Thomas Schmutz and Interim CFO Paul Takalo will discuss the Company’s quarterly financial results and answer caller’s questions.

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).

Individuals wishing to ask a question during the conference 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’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: FLY:TSX.V; FLYLF:OTCQX). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRS™) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTime™ cloud-based data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.


Contact Information

FLYHT Aerospace Solutions Ltd.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@flyht.com
Investor Relations – The Howard Group
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

 

Join us on social media!

www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.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.

FLYHT to Work with Inmarsat for AFIRS Trial Flight

Announcement made by Inmarsat September 19

Calgary, Alberta – September 19, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce a flight trial with Inmarsat, and would like to bring attention to an Inmarsat press release titled Inmarsat to demonstrate advanced SwiftBroadband-Safety capabilities in flight trial with FLYHT on September 19, 2017. This trial will demonstrate the use of FLYHT’s Automated Flight Information Reporting System (AFIRS™) to send data to the UpTime™ Cloud management platform via Inmarsat’s secure IP broadband platform, SwiftBroadband-Safety (SB-S).

Tom Schmutz, FLYHT’s Chief Executive Officer, said: “This is a great opportunity for FLYHT to work directly with Inmarsat and install our newest technology solution on an aircraft that can test the “corner cases” for Inmarsat’s “Black Box in the Cloud” capability. FLYHT brings significant capability in the areas of Autonomous Distress Tracking and the Timely Recovery of Flight Data and we look forward to testing our solution with Inmarsat and the other trial partners.”

The evaluation will commence in 2017 and will be conducted using an experimental trial aircraft, to enable a range of conditions to be evaluated. It will validate the capabilities of SB-S to provide secure, high-speed global connectivity to enhance airline safety, security and operations. FLYHT will provide equipment and software, including its AFIRS product and UpTime Cloud flight management server, together with technical support for the flight trial.

About FLYHT Aerospace Solutions Ltd.

FLYHT’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: FLY:TSX.V; FLYLF:OTCQX). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRS™) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTime™ cloud-based data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.


Contact Information

FLYHT Aerospace Solutions Ltd.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@flyht.com
Investor Relations – The Howard Group
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

 

Join us on social media!

www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.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.

FLYHT Lands Two New Customers in China

Calgary, Alberta – September 5, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce the sale of the Automated Flight Information Reporting System (AFIRS™) to two new commercial cargo customers in the People’s Republic of China for USD $1.4 million, assuming FLYHT provides hardware over the full term of the five (5) year agreement. FLYHT’s subscription voice and data services may be added in the future, further increasing the value of the contracts. The first airline will install AFIRS on its fleet of A300 aircraft and the second on its B757 and B737 aircraft.

“These sales mark close to USD $5.5 million in AFIRS sales to new customers in China this year and bring the number of customers in China to 23,” remarked Michael Fang, FLYHT’s Vice President of China Sales. “We also continue to upsell our existing Chinese customers with subscription voice and data services, and have signed contracts for these services to almost USD $700,000 in 2017.”

FLYHT has all the necessary Supplemental Type Certificates (STC’s) to complete installation on the B757 and B737 aircraft. Installations are anticipated to begin in the third quarter of 2017. The Company will begin installations on the A300 aircraft after that STC is achieved.

About FLYHT Aerospace Solutions Ltd.

FLYHT’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: FLY:TSX.V; FLYLF:OTCQX). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRS™) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTime™ cloud-based data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.


Contact Information

FLYHT Aerospace Solutions Ltd.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@flyht.com
Investor Relations – The Howard Group
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

 

Join us on social media!

www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.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.

FLYHT Reports Second Quarter 2017 Results

Calgary, Alberta – August 16, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLD) (the “Company” or “FLYHT”), the leading provider of real-time data streaming technology that enhances the efficiency and safety of aircraft, has reported financial results for the second quarter ended June 30, 2017.

“Overall FLYHT had a good quarter and we are well positioned at this point in the year, ahead of budget, and ahead of last year’s revenue at this reporting period by 16%,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “We have announced over USD $10.5 million in sales in the first half of this year.” Schmutz added, “We also signed trial agreements with Boeing and another industry major to demonstrate Autonomous Distress Tracking and Timely Access to Flight Data using the FLYHT solution on both the Iridium and Inmarsat satellite constellations.”

Second Quarter highlights include:

  • Revenue of $3,388,030, which represents 4.2% decrease over the second quarter of 2016. Revenue for the six months ended June 30 was $7,117,112, an increase of 15.7% from 2016.
  • Net loss of $742,102 compared to the second quarter loss of 2016 of $651,105 excluding the sale of intellectual property in 2016 included as other income of $3,223,166.
  • Expenses in the second quarter included a non-cash share based compensation charge of $411,408 compared to$ 340,990 in 2016 or an increase of $70,418.
  • Gross profit was 66.8% of revenue compared to 63.9% for the second quarter of 2016, with the increase being consistent for the six months ended June 30.
  • Recurring revenue (voice and data services) of $1,158,340, an increase of 14.2% over the first quarter of 2016, and parts revenue of $1,479,402, an increase of 30.8%.
  • Distribution expenses were $1,420,236 representing an increase of $171,453 compared to the second quarter of 2016, attributable mainly to higher costs associated with sales activities.
  • Administration expenses were comparable to the same quarter of 2016 with a decrease of $14,690 to $1,088,709 in the quarter.
  • Research and development expenses were $399,920, or 18.7% higher than in the same quarter of 2016, principally due to higher labour and contract labour costs for the quarter that were partially offset by recoveries from government programs.
  • Customer deposits of $909,318 at quarter end were slightly increased from Q2 2016, and payments received in the quarter were $224,050 lower than the same quarter last year.
  • The value of deposits moved to unearned revenue was $582,210, an increase of $320,139 compared to Q2 2016.
  • Unearned revenue decreased in the quarter to $656,844 from $1,561,020 at the end of Q2 2016. This was 57.9% lower than June 2016, and was due to sales being recognized in periods subsequent to June 30 in 2016.
  • Revenue recognized on AFIRS units shipped was $561,725 lower than in Q2 2016 but were only lower by $72,059 year-to-date. Revenue was recognized on 17 installation kits in Q2 2017 compared to 27 in the second quarter of 2016.

Detailed information in FLYHT’s 2017 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://flyht.com/financial-reports/. The MD&A and Financial Statements have also been filed with SEDAR and will be accessible at www.sedar.com.

FLYHT has scheduled a live conference call to discuss its second quarter results on Thursday, August 17, 2017 at 7 am MDT (9 am EDT, 6 am PDT).

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’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: FLY:TSX.V; FLYLF:OTCQX). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRS™) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTime™ cloud-based data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.


Contact Information

FLYHT Aerospace Solutions Ltd.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@flyht.com
Investor Relations – The Howard Group
Dave Burwell
Vice President
(888) or (403)-221-0915
dave@howardgroupinc.com

 

Join us on social media!

www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.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.

FLYHT Supports Boeing for Tracking, Locating and Flight Data Recovery Solutions Testing

Calgary, Alberta – August 10, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”), per the Boeing press release dated July 6, 2017, will provide the Automated Flight Information Reporting System (AFIRS™) product and management platform (UpTime™ Cloud) to Boeing as part of their upcoming flight test program on a FedEx B777 aircraft. FLYHT will participate in the portion of the ecoDemonstrator Program designed to collect data and produce test reports that are necessary to demonstrate Autonomous Distress Tracking and the Timely Recovery of Flight Data in order to drive industry standardization and requirements. FLYHT’s portion of the project was initiated in April 2017 and is expected to be complete in 2018.

The Boeing ecoDemonstrator Program plays a key role in the company’s environmental strategy by using flight testing to accelerate new technologies that can reduce emissions and noise, improve airlines’ gate-to-gate efficiency and help meet other environmental goals. In 2018 for six weeks, Boeing and FedEx Express will work together to flight-test more than 30 technologies aboard a FedEx-owned 777 Freighter. The two companies are committed to reduction of the environmental impact of their products and in advancing technology that will improve performance.

FLYHT will provide equipment, software, a Supplemental Type Certificate and support to Boeing for this evaluation. This program will test many features including enhancements to AFIRS that will allow the product to stream flight data over different satellite systems, including Iridium and an Inmarsat SwiftBroadband connection. The flight data information streamed during the test flights will produce real-time animation, demonstrating improved situational awareness of the cockpit during these events. Also, the flight test program will also stream real-time cockpit audio – demonstrating that all the “black box” data can be captured this way.

“FLYHT is very excited to work directly with Boeing and FedEx to validate our product’s unique value proposition,” remarked Tom Schmutz, FLYHT’s Chief Executive Officer. “We have a fantastic solution for Autonomous Distress Tracking and Timely Recovery of Flight Data and look forward to testing our newly expanded solution with the Boeing engineering team.”

The International Civil Aviation Organization (ICAO) council adopted new provisions to Annex 6 of the Chicago Convention (Operation of Aircraft) in March of 2016 that will take effect between now and 2021. These amendments require aircraft to carry Autonomous Distress Tracking devices which can autonomously transmit location information at least once every minute in distress circumstances. Aircraft are also required to be equipped with a means to have flight recorder data recovered and made available in a timely manner.

The ICAO council established performance based provisions which will allow existing and emerging technologies to be used to meet these requirements, so airframers will be required to choose how they will comply. FLYHT has commercially fielded products that provide Autonomous Distress Tracking and flight data recorder streaming, which it first deployed in April 2014 with First Air, a Canadian Airline Operator.

About FLYHT Aerospace Solutions Ltd.

FLYHT’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: FLY:TSX.V; FLYLF:OTCQX). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRS™) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTime™ cloud-based data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.


Contact Information

FLYHT Aerospace Solutions Ltd.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@flyht.com
Investor Relations – The Howard Group
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 27, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLD) (the “Company” or “FLYHT”) has scheduled a live conference call to discuss its second quarter results on Thursday, August 17, 2017 at 7 am MDT (9 am EDT, 6 am PDT).

The conference call will include a brief presentation from FLYHT’s CEO Thomas R. Schmutz and Interim CFO Paul Takalo 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 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 70 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 2.6 million aggregate flight hours and 1.7 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.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@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. Announces Share Consolidation

Calgary, Alberta – July 13, 2017 – FLYHT Aerospace Solutions Ltd. (“FLYHT” or the “Company”) (TSX-V: FLY) (OTCQX: FLYLF) is pleased to announce that the TSX Venture Exchange has approved a consolidation of its common shares (the “Consolidation”) on a 10 to 1 basis.

The Consolidation was previously approved by the Company’s shareholders at the Annual and Special Meeting held on May 10, 2017.

The Consolidation results in one (1) new post-consolidated common share being issued for ten (10) old pre-consolidated common shares.

The Consolidation will take effect on July 17, 2017 with the Common Shares trading on a post-Consolidation basis beginning at the open of markets on July 17, 2017. At the date of this press release, there are a total of 209,636,273 Common Shares issued and outstanding. Assuming no other change in the issued capital of the Company, it is expected upon completion of this Consolidation, FLYHT will have approximately 20,963,617 (after taking into account certain fractional rounding) Common Shares issued and outstanding. FLYHT’s issuing name will not change as a result of the Consolidation.

The Company is pursuing the Consolidation due to the improvement in the underlying financial performance of the Company and the management of FLYHT believes that the Consolidation will have positive effects for Company stock trading and financial reporting. FLYHT was profitable in 2016 and has produced four successive positive quarters. FLYHT is also producing positive cash flow through normal operations. A more thorough discussion of the rationale for the Consolidation can be found on the Company website at http://flyht.com/investor-letters/.

A full description of the Consolidation is contained in the Company’s Management Information Circular and Proxy Statement dated April 4, 2017, which has been filed with SEDAR at www.sedar.com.

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 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 2.6 million aggregate flight hours and 1.7 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.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@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. Increases its Line of Credit to $1.5 Million

Calgary, Alberta – July 7, 2017 – FLYHT Aerospace Solutions Ltd. (“FLYHT” or “the Company”) (TSX-V: FLY) (OTCQX: FLYLF) is pleased to announce that it has amended its operating demand loan (the “Line of Credit”) with a Canadian chartered bank to increase its borrowing availability to CAD $1.5 million from $250,000.

Proceeds from the Line of Credit will be used to support short-term cash needs from increasing trade receivables and inventory requirements from growing sales.

The Line of Credit will continue to bear interest at Canadian chartered bank prime plus 1.5%.

Security includes specific accounts receivable, a guarantee under the Export Development Canada’s (EDC) Export Guarantee Fund and a general security agreement including a security interest in all personal property. This amendment will release the GIC of $250,000 previously pledged as security.

‘’EDC’s focus is to support Canadian companies whose capital needs are predicated on export transactions,’’ said Mark Livingston, Regional Vice President, Western Region, EDC. “With a significant portion of its revenue derived from emerging market opportunities outside of North America, FLYHT is a great example of a company with a successful international growth strategy. We are pleased to provide additional capacity that will continue to support the company’s global sales and corresponding needs for growth capital.”

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 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 2.6 million aggregate flight hours and 1.7 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.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@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 Second Quarter 2017 Update

Calgary, Alberta – June 26, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce more than USD $3 million in additional sales contracts and purchase orders during the quarter, bringing the total for the quarter to nearly USD $5 million. The following are the updates to the sales activity during the second quarter of 2017:

  • FLYHT received orders from an existing OEM partner (see release on July 15, 2014) for approximately USD $2.2 million of parts with related license fees for delivery through January 2018.
  • Seven current customers signed contracts for additional Automated Flight Information Reporting System (AFIRS™) 228 hardware kits and/or voice and data services. These include two Chinese customers, three customers in Africa, one in North America and one in Mexico. These contracts will total approximately USD $833,000 assuming FLYHT provides services over the full term of the agreements.

In addition to these orders, FLYHT previously announced an AFIRS contract with a new Chinese commercial airline customer for USD $1.9 million in a press release on April 20, 2017.

“Our sales team continues to engage with airlines in our target market and attended a number of globally-recognized conferences this quarter in the United States, China, Europe and Mexico,” remarked FLYHT’s CEO Thomas R. Schmutz. “FLYHT’s sales order backlog for just two of our revenue sources, AFIRS hardware kits and the associated recurring voice and data services, now exceeds $25 million dollars.”

The measure of sales order backlog is comprised of the sales value of prior committed contracts for which neither the AFIRS hardware is installed, nor the voice and data services activated. These signed contracts have been previously announced in various press releases. This sales order backlog value assumes that FLYHT provides hardware and services over the full scope and term of the constituent contracts.

FLYHT was also awarded a Supplemental Type Certificate (STC) for the AFIRS 228 by the Civil Aviation Administration of China (CAAC) for Boeing 737-300/400/500 aircraft. FLYHT holds an industry-significant number of STCs which authorize installation of FLYHT’s products on air transport aircraft, thus enabling sales opportunities for FLYHT. A complete list of STCs can be found on FLYHT’s website (certifications).

 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 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 2.6 million aggregate flight hours and 1.7 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.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@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 Discusses Revolutionary Real-Time Tracking Solutions for Aircraft on Worldwide Business with kathy ireland®

Calgary, AB – June 22, 2017 FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) is pleased to announce an exclusive interview with Worldwide Business with kathy ireland®. The interview will air on international news channels this weekend and is featured on the FLYHT website.

The interview features FLYHT’s CEO, Tom Schmutz about the Company’s real-time data streaming solutions that contribute to over 70 airlines’ operations and are positioned to have a massive impact on the aviation industry. FLYHT’s unique ability to capture, process and transmit data — coupled with real-time alerts — provides airlines with direct insight into the operational status and health of their aircraft and enables them to take corrective action in order to maintain the highest standard of operational control.

“With so many people choosing to fly every single day, the safety of everyone on board each aircraft is crucial,” commented JL Haber, Vice President of Programming for Worldwide Business with kathy ireland®. “What FLYHT Aerospace Solutions has done for the aviation industry is amazing, to say the least. Their groundbreaking, innovative technology has had a dramatic impact on aircraft operators and will continue to make flying safer for those who love to travel. We are proud to have FLYHT Aerospace Solutions on our show.”

“Most airline passengers are surprised to find out that most of the tracking and communication technologies that are on board today’s aircraft are 1980’s and 1990’s technology,” remarks Tom Schmutz on FLYHT’s revolutionary technology that can help alert the airline of any safety issues during flight and help prevent accidents. “Ultimately, what we find is that there are gaps in communication coverage around the world. Aircraft can be lost. This is unacceptable. At FLYHT, we have the technology to eliminate those kinds of problems. Our leading technology enhances the efficiency and safety of aircraft. It saves aircraft operators money, it helps streamline their operations and it proactively enhances safety, preventing accidents and saving lives.”

Liat 1974 Ltd. is one of the airlines operating in the Caribbean using FLYHT’s technology.

“AFIRS helped us tremendously when we had an over torque situation in St. Lucia,” remarked Alan Alexander, Director of Flight Operations. “We were able to recover the data from the airplane using the AFIRS quick access recorder. With AFIRS data, we were able to get the aircraft back into service within 24 to 36 hours. Using the old method, it would’ve taken us somewhere around seven days to return that airplane to service.”

Tune into Bloomberg International for sponsored programming on Saturday, June 24, 2017 at 7:30am GMT and Fox Business Network on Sunday, June 25, 2017 at 5:00pm EST. The sponsored programming will also air on Sunday, July 16, 2017 on both Bloomberg Latin America at 10:00 am UTC and on Bloomberg Asia Pacific at 2:30 pm HKThttps://www.bloomberg.com/live/schedule-shows

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 2.6 million aggregate flight hours and 1.7 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 Worldwide Business with kathy ireland®

Worldwide Business with kathy ireland® is a weekly business television program featuring real-world insights from corporate executives from all over the globe which can be viewed on Fox Business Network as part of their sponsored programming lineup, as well as internationally to over 50 countries on Bloomberg International.

Visit www.tvwwb.com for detailed airing schedules or check your local listings.

Contact Information

FLYHT Aerospace Solutions Ltd.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@flyht.com

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

Join us on social media!

www.facebook.com/flyht
www.twitter.com/flyhtcorp
www.slideshare.net/flyhtcorp
www.youtube.com/flyhtcorp
www.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.

FLYHT Aerospace Solutions Ltd. Announces Management Change

Calgary, Alberta – June 5, 2017 – FLYHT Aerospace Solutions Ltd. (“FLYHT”) (TSX-V: FLY) (OTCQX: FLYLF) today announced that Nola Heale will not be continuing in her position of CFO & VP Finance of FLYHT. The Company has appointed Paul Takalo, the Board of Director’s Audit Committee Chair, to serve as the interim CFO & VP Finance. FLYHT will pursue a permanent replacement to fill the position.

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 2.5 million aggregate flight hours and 1.7 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.
Paul Takalo
Interim Chief Financial Officer
403-291-7425
ptakalo@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. Announces Issuance of Incentive Stock Options

Calgary, Alberta – May 12, 2017 – FLYHT Aerospace Solutions Ltd. (“FLYHT”) (TSX-V: FLY) (OTCQX: FLYLF) is pleased to announce it has granted incentive stock options for an aggregate 3,660,220 common shares, subject to regulatory approval, to employees, officers and directors under the stock option plan approved at the Annual and Special Meeting held on May 10, 2017.

The stock options are exercisable at a price of $0.22 per share. They also feature immediate vesting and expire on December 31, 2020. A maximum of 10% of the issued and outstanding shares are reserved under the Company’s stock option plan. The options, and any common shares issued upon exercise of the stock options are subject to a four-month resale restriction.


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 2.5 million aggregate flight hours and 1.7 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 First Quarter 2017 Results

Fourth Consecutive Profitable Quarter and Increasing Cash

Calgary, Alberta – May 10, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”), the leading provider of real-time data streaming and communication technologies in the aerospace industry, has reported financial results for the first quarter ended March 31, 2017.

“FLYHT is pleased with our first quarter results and the Company’s improved cash position,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “We achieved $218,156 in EBITDA and a 43% improvement in revenue over the comparable 2016 period. In addition, we announced nearly $6 million of direct contract sales in the quarter, starting the year strong in sales.”

First Quarter highlights include:

  • Revenue of $3,729,082, which represents 42.8% increase over the first quarter of 2016.
  • EBITDA[1] of $218,156 in the quarter compared to negative $993,836 in the same quarter of 2016.
  • Net income of $113,340 which was an increase of $1,356,282 over the first quarter of 2016.
  • Gross profit was 69.5% of revenue compared to 67.0% for the first quarter of 2016.
  • Recurring revenue (voice and data services) of $1,154,473, an increase of 8.1% over the first quarter of 2016, and parts sales $1,563,918, an increase of 52.1%.
  • Distribution expenses were $1,195,194 representing an increase of $62,467 compared to the first quarter of 2016, attributable mainly to higher costs associated with sales activities.
  • Administration expenses were comparable to the same quarter of 2016 with a decrease of $307 to $638,120 in the quarter.
  • Research and development expenses were $561,158, or 43.2% lower than in the same quarter of 2016, when a warranty claim was settled. No similar expense was incurred in the current year.
  • Customer deposits of $701,556 at quarter end were a small increase from Q1 2016, and payments received in the quarter were $368,217 higher than the same quarter last year.
  • The value of deposits moved to unearned revenue was $898,008, a decrease of $337,554 compared to Q1 2016, but $195,426 increase compared to Q4 2016.
  • Unearned revenue decreased in the quarter to $807,494 from $827,235 at December 2016. This was 58.7% lower than March 2016, but is consistent with balances in the last half of the 2016 year.
  • Revenue recognized on AFIRS units shipped was $489,667 higher than in Q1 2016. Revenue was recognized on 15 installation kits in Q1 2017 compared to 9 in the first quarter of 2016.
  • The value of AFIRS units shipped in Q1 2017 was $898,008, a 27.3% decrease from Q1 2016, but 27.8% higher than in Q4 of 2016.

Detailed information in FLYHT’s 2017 First 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 filed with SEDAR and will be accessible at www.sedar.com.

FLYHT’s Annual and Special Meeting will be held on May 10, 2017 at 2:00 PM (MT) at Fort Calgary – JOW Gallery 750 – 9th Avenue SE, Calgary, Alberta.

FLYHT will not host a live conference call about the first quarter results, however, will provide an update through a live video feed of the Company’s Annual and Special Meeting. The video will be available on FLYHT’s Facebook page, www.facebook.com/flyht starting at approximately 2:15 pm MT. The video will be accessible to those with a Facebook account. An archive video of the meeting will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available. http://flyht.com/presentation-and-webcast/

Questions submitted to management by e-mail before 1:00 pm (MT) on May 10 will be answered during the meeting. Questions can be emailed to investors@flyht.com.


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 2.5 million aggregate flight hours and 1.7 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.

[1] EBITDA: defined as earnings before interest, income tax, depreciation and amortization (a non-GAAP financial measure).

FLYHT Aerospace Solutions Ltd. To Present Q1 Results at Annual and Special Meeting

Calgary, Alberta – May 3, 2017 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) will discuss its first quarter results at its Annual and Special Meeting to be held at 2:00 pm (MT) on Wednesday, May 10, 2017 at Fort Calgary.

Shareholders are invited to attend the meeting where management will provide a presentation and answer questions about the status of the Company.

FLYHT will not host a live conference call about the first quarter results, however, will provide an update through a live video feed of the Company’s Annual and Special Meeting. The video will be available on FLYHT’s Facebook page, www.facebook.com/flyht, starting at approximately 2:15 pm MT. The video will be accessible to those with a Facebook account. An archive video of the meeting will be posted on the Presentations and Webcasts section of FLYHT’s website as soon as it is available. http://flyht.com/presentation-and-webcast/

Questions submitted to management by e-mail before 1:00 pm (MT) on May 10 will be answered during the meeting. Questions can be emailed to investors@flyht.com.

Venue Details:
FLYHT’s Annual and Special Meeting will be held on May 10, 2017 at 2:00 PM (MT) at Fort Calgary – JOW Gallery 750 – 9th Avenue SE, Calgary, Alberta.


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 2.5 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.