FLYHT receives US$5.65 million purchase order from a long-time OEM partner

LYHT Aerospace Solutions Ltd. announced today that it has received a purchase order with a value of US$5.65 million for Iridium modems and license fees from a long-time OEM partner. This order builds upon the relationship previously discussed in press releases dated July 15, 2014; August 1, 2019; February 18, 2020; July 6, 2021; and, October 6, 2021.

Bill Tempany, CEO of FLYHT stated, "This most recent order shows the strength of the recovery that is unfolding on the OEM side of the airline industry. We are very happy that our relationship to install these very successful software and intellectual property products on aircraft continues to result in deployments of AFIRS products around the world. We are seeing strong recovery of our customers in North America and in Europe, with recovery lagging in SE Asia and China. We expect to see these markets recover late 2022 into early 2023, as living with covid becomes the norm. This latest order allows FLYHT to exit the pandemic in a strong position, ready to deliver our new products and services to existing and new customers."

Under the terms of the existing agreement, the OEM customer will be licensing FLYHT's technology and delivering the AFIRS 228S system to their European airframer customer for three certified aircraft platform types. The products are scheduled for delivery throughout the remainder of 2022.