Wednesday, 22 January 2014

FLYHT Takes Off With L-3 Communications – 12 AFIRS Units By The End Of January


With all certifications, testing and approvals successfully out of the way, FLYHT announced today that is shipping an initial order of 12 AFIRS 228S units to L-3 Communications.

The news release doesn’t state who is going to be receiving the units but everyone who has been following the FLYHT story and its relationship with L-3 has a very good idea of where the technology is going to land. It’s well discussed in the investment and investing communities and on the chat boards that FLY is very restricted by what it can and cannot say in a news release with its partner relationships but “end-use customers of the product” is not a state secret.

While this initial order is small, the significance of the breakthrough is not to be understated as it puts FLYHT’s technology into the hands of one of the world’s largest “end-use customers ”. It is a large check-mark for FLYHT.  The amount of due diligence conducted by L-3 and “an end-use customer” must be appreciated!

It’s akin to buying a car with a factory installed navigation system versus doing an after-market retro-fit.

Today's announcement is directly tied to a news release from L-3 Aviation Recorders website from October 2012.  To view the news release, please click here.

Simply as a point of interest, Aviation Today recently published an article titled “Airbus Wins Jet Order Race, Mulls Production Increase”. In this piece it confirmed that Airbus received 1,619 new orders in 2013 for its A320 aircraft. It also states that “Airbus is currently producing, 42 A320s per month, but executives say that number could increase to 50 per month after 2018 when the A320neo (new engine option) is scheduled to enter service. The targeted rate of 10 per month for the A350 could also increase to 14 after 2018, the company said.” To view the full article, please click here.

Also as another point of interest, is a 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.” To view the news release, please click here.

To view today’s news release, please click here.

Shares Issued:  142.5 million
Fully Diluted:     182.1 million

Dave Burwell
Grant Howard