AeroMechanical Services, Ltd (AMA) and AerCap Holdings N.V (AER:N) (AerCap) (www.aercap.com) have signed an agreement under which AMA will provide equipment and services to AerCap for the Airbus Freighter Conversions GmbH (AFC) Passenger-to-Freighter (P2F) program and AerCap will also market AMA's products and services to its base of customers globally. The agreement, which is subject to finalization of terms and conditions before March 31, calls for AerCap to provide AMA with a contribution toward the non-recurring engineering while AMA will supply it's next generation afirs 228 system for the AerCap P2F aircraft and AMA will provide UpTimeTM data reporting services to AerCap and AerCap's customers. AMA will pay AerCap royalties and commissions on successful sales of afirsTM 228 products to AerCap customers.
AerCap, one of the industry's leading aircraft and engine leasing companies, is the launch customer for the Airbus Passenger-to-Freighter (P2F) conversion under which AerCap will provide earlier vintage Airbus A320 and A321 passenger aircraft to AFC and then re-lease the converted aircraft to the global air cargo community. AMA will provide its next generation Automated Flight Information Reporting System (afirs 228) as part of the EU Link 2000+ compliant avionics upgrade for the Airbus P2F aircraft. The afirs 228 will be installed under a new Supplemental Type Certificate (STC) in parallel to the P2F conversion, which means that the system will be available to any customer making P2F conversions of A320 and A321 aircraft.
The global in service fleet of A320/321 is in excess of 2,600, of which half will be suitable for conversion in the 2012-2028 timeframe by virtue of the age of the aircraft. According to Airbus' latest Global Market Forecast, the global market for freighters in the 2009-2028 period is 3,439 aircraft of which 786 are in the small jet freighter category (including the A320) and 1,625 in the regional jet freighter category (including the A321). The combination of A320 and A321 will offer operators complete operational flexibility in the 21-28 ton market and can also be combined with other current and future products within the Airbus freighter family.
About AeroMechanical Services Ltd.
AeroMechanical Services Ltd. provides proprietary technological solutions and services designed to reduce costs and improve efficiencies in the aviation industry. The company has successfully commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, afirs™ UpTime™, FLYHTstream™ and FIRSTTM allows airlines to monitor and manage aircraft operations anywhere, anytime, in real-time.
afirs, UpTime, FLYHT, FLYHTstream, and aeroQ are Trade Marks of AeroMechanical Services Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
AeroMechanical Services Ltd
Tom French, CFO, (403) 291-7427
tfrench@amscanada.com
or
The
Howard Group Inc.
Bob Beaty, 1-888-221-0915
Info@howardgroupinc.com
www.howardgroupinc.com