Friday, 14 December 2007

AeroMechanical Signs Up Major European Airline

The long-awaited signing of a European airline, that sports a fleet of Airbus aircraft, was announced late on Dec. 14th and it made the market soar.
With only two hours of trading left on a Friday afternoon, after many brokers had already left for the weekend, AeroMechanical shares jetted up to close at $0.89 on volumes of just over 2.9 million shares.
Shares opened at $0.69 and hit a Friday high of $0.95.
The unidentified airline contracted to install AeroMechanical's patented technology on 10 of its 30 + aircraft. It awaits its board's approval before signing contracts for the remaining fleet.
"We are very excited to add a significant European A320 operator ... to our growing list of customers, AeroMechanical President Darryl Jacobs said, noting this gives his company airline customers on every continent, save South America.
To view the full press release please click here.