Tuesday, 12 November 2013

FLYHT Signs 24 Plane Deal With South American Airline

FLYHT Aerospace Solutions Ltd.
TSX Venture: FLY
Shares Issued: 142.5 million
Fully Diluted: 182.1 million

These days, FLYHT investors are focused on what the company is doing in China and with L-3/Airbus. However, today FLYHT proved there is more to the story. The company has signed a sizable deal with a new South American cargo airline.

The term of the contract is 5 years and over that time, according to the news release, FLYHT will generate approximately $2.56 million USD from the sale of hardware and its recurring service revenue. Installations are anticipated to begin once the necessary local approvals of FLYHT's existing STC's for these aircraft are received. It is anticipated that the approvals will take three to six months.

To view the news release, please click here.