FLYHT Aerospace Solutions Ltd.
TSX Venture: FLY
Shares Issued: 140,386,166
Fully Diluted: 179,132,626
In a news release issued by Airbus today, the company expressed optimism about growth, as it exceeded its order target and also registered a 10% increase in deliveries in 2012. Airbus won 914 orders for new aircraft, while it had targeted just 650.
In total, Airbus delivered 588 aircraft in the year to 89 customers, higher than the 534 aircraft in 2011.
2012 was the 11th year in a row of increased production. According to Airbus, its backlog sets a new industry-wide record of 4,682 aircraft valued at over $638 billion.
Why is this significant to FLYHT?
In the news release issued by FLY on January 7, 2013 titled “FLYHT Signs Master Service Agreement With Jabil,” Bill Tempany, President and CEO of FLYHT, said, “Information we have been provided indicates that we should expect approximately 25% of the annual Airbus A320 production through factory fit and retrofit installs will require AFIRS units. In order to meet that demand in combination with the ongoing expansion of our customer base, a higher volume production facility needed to be in place."
Of the 914 orders, the CEO (Conventional Engine Option) and the A320neo (New Engine Option) which collectively represent 783 aircrafts, are potentially relevant to FLYHT.
According to FLYHT management, representatives from L-3 Communications, Airbus and FLYHT have been actively visiting the various Airbus customers and jointly presenting the benefits of the AFIRS™ 228 technology.