Friday, 11 July 2008

AeroMechanical Strikes Another Contract

AeroMechanical Services Ltd., (TSX:V-AMA)
Basic Shares: 81 million
Fully Diluted: 93 million


A North American-based cargo carrier is the latest airline to sign up for AMA's ground-breaking technology.
AMA announced July 10th that the unidentified airline signed a seven-year contract to install blueboxes on two of its aircraft.
The airline also reserved the right to add more blueboxes as its fleet grows.
The contract should be worth about $352,646 but since most customers extend the contracts past the initial sign up time to cover the life of their aircraft, gross revenues could be higher.
To read the full news release, please click here.
AMA stopped releasing the names of its customers for competitive reasons.
But it now has 726 aircraft under contract that are owned by 32 different airlines around the world.
At the end of last year, AMA announced it shipped 94 blueboxes -or as the technology is formally called, the afirs(TM) UpTime(TM) system.
This year, up to June 30th, AMA shipped 44 blueboxes. That gives a total of 138 blueboxes shipped since AMA opened its doors for business.
Some sharp-eyed readers might have noticed that the number of airlines AMA has done business with (32) didn't change from this news release press to the previous news release.
That's because the previous news release suffered from a typo.