TSX Venture: FLY
Shares Issued: 142.5 million
Fully Diluted: 182.1 million
This morning, FLYHT Aerospace announced the launch of its new portable satellite communications device – The Dragon™. It should be noted that the device is designed for small aircraft and helicopters. There is a similarity to AFIRS™ in that it provides real-time voice and data communications enabled by the Iridium Satellite Network. The unit costs just under $10 thousand and a monthly service fee is in effect.
As some additional clarification was being sought by investors on the Dragon’s™ usage and whether or not it is potentially an option for Chinese commercial aircraft, we put that question to FLYHT management. The response is below.
“It cannot be used on commercial aircraft because the antenna needs to be externally installed, and that requires a Supplemental Type Certificate (STC). This product is focused on helicopters, small aircraft and business jets that can use carry on equipment. Commercial carriers would not approve a carry on device.”
In describing the market for the Dragon™, Bill Tempany, President and CEO of FLYHT, said, “The tens of thousands of general aviation enthusiasts, corporate jet and helicopter operators will now be able to take full advantage of FLYHT's revolutionary technology. It should also be noted that this device has been tested with the Chinese Governments Global Aviation Management System (“GAMS”) and has been approved for both the flight following and voice capabilities required by the government of China for light aircraft. ”
The product is now available for order through FLYHT’s website at www.flyht.com.
To view today’s news release, please click here.