Tuesday, 15 July 2014

Global Maxfin Reiterates STRONG BUY With A $1 Target For FLYHT With Update


FLY:TSX-V

In acknowledgement of the news issued today by FLYHT on the certification of the AFIRS 228S for A320 Aircraft, Global Maxfin analyst Joe MacKay issued an update to clients. In the report Mr. McKay says the implications of this announcement are positive for FLYHT.  Specifically stating “the process to certify AFIRS with Airbus has been underway since 2012 and was recently approved by Airbus. L3 is the world’s largest manufacturer of flight data recorders. Under the agreement with L3, L3 manufactures and installs the AFIRS units on the aircraft with FLYHT receiving a royalty payment of approximately $6,000/unit for a retrofit and $12,000/unit for a factory fit.”  

Further into his commentary he also points out that, under the L3 agreement “FLYHT then has the opportunity to sell applications and services to the end user, receiving 100% of the monthly recurring revenue.”

To receive a copy of the update please contact Global Maxfin analyst Joseph MacKay at (416) 741-1544.