FLYHT Aerospace Solutions Ltd (TSXV: FLY) has received a software as a service (SAAS) purchase order from Azur Havacilik A.S. in the amount of $1.77 million.
The purchase agreement will be set out in two 5-year service agreements, and will pertain to the Turkish aviation company’s Boeing aircraft, including the 737/757/767 and the 777. FLYHT’s product and services will provide Azur with real-time data reporting on its fleet of aircraft, which will lead to better safety and increase operating efficiencies.
FLYHT will provide Azur with FLYHTHealth, which reports automated engine trending such as take-off and stable cruise data, and real-time airframe and engine exceedance reporting. FLYHT will also provide Azur with FLYHTMail, which is a two-way text messaging service equipped on multi-function controls and display units. Also part of the purchase agreement, Azur will be provided with a Fuel Uplift report, which is custom-designed to track fuel uplifted in ground engine runs and maintenance.
FLYHT is a Canadian company focused on providing aircraft companies with aircraft performance insight technology. The company recognized revenues of $16.8 million for the nine month period ended September 30, 2019.
FLYHT Aerospace Solutions Ltd is currently trading at $1.57 on the TSX Venture.
Information for this briefing was found via Sedar and FLYHT Aerospace Solutions Ltd. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.