Tuesday, 25 March 2008

Another Notch in AeroMechanical's Belt

AeroMechanical Services (TSX:V - AMA)

Shares issued: 82.1 million
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Another airline signed up with AeroMechanical, bringing the tally of aircraft under contract up to 690 from 29 different airlines around the world.

This latest customer is described as a Canadian low-cost charter airline that will install AeroMechanical's blue box on two of its aircraft.

Over the life of the five-year contract, nearly $300 thousand in revenues will be generated.

Installation of the afirs(TM) UPTime (TM) system, which provides pilots with voice and email contact from any spot around the globe, minute-by-minute tracking of the aircraft and troubleshooting from thousands of onboard aircraft sensors, is scheduled in April and May of this year.

To view the full press release, please click here.