TSX Venture: FLY
Shares Issued: 142.5 million
Fully Diluted: 182.1 million
Today, FLYHT announced that it has received a Supplemental Type Certificate (STC) from Transport Canada for its Automated Flight Information Reporting System (AFIRS) 228 technology, allowing it to be installed on Boeing 737– 700/800 series aircraft.
According to management, this is a key milestone for the company and its efforts in China. Yesterday, SKYBLUE announced an initial order for 218 AFIRS units, which are to be installed on seven airlines over the next three years. Of those, a significant amount of planes that are to be equipped are Boeing 737's. This certification from Transport Canada is a key step towards certification in China.
The 737 series is the best-selling jet airliner in the history of aviation.(1) The 737 has been continuously manufactured by Boeing since 1967, with 7,755 aircraft delivered and 3,467 orders yet to be fulfilled as of September 2013. (Source Wikipedia)
To view today's news release, please click here.