Receives Support from Alberta Innovates for Environmental Leading Initiative
CALGARY, AB / ACCESSWIRE / March 16, 2022 / FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") announced that FLYHT is partnering with Swoop Airlines to reduce emissions by eliminating non-essential Auxiliary Power Unit (APU) usage. The program is partially funded through a grant of $150,000 from the Alberta Innovates Product Demonstration Program ("PDP").
The FLYHT real-time APU monitoring and notification program allows an airline to reduce its APU run times by providing timely, targeted and actionable notifications, thereby reducing CO2 emissions and providing cost savings for the airline. This initiative is aligned with FLYHT's goal of providing environmentally beneficial solutions that enhance the profit potential for an airline and that create a greener, safer world. The APU consumes approximately 250 lbs of fuel per hour under normal operation.
This APU solution leverages the power of FLYHT's AFIRS family, including the latest platform, AFIRS Edge, of on-wing monitoring and ground infrastructure. The AFIRS family allows for real time monitoring of aircraft data and can be powered by the aircraft's engines, an external ground power source, or the aircraft APU. The AFIRS Edge has been developed with repayable funding support from Prairies Economic Development Canada (PrairiesCan) through its Western Innovation Initiative.
Bill Tempany, CEO remarked, "FLYHT is always looking for ways to support our customers in their ongoing initiatives to reduce their environmental impact, and we are very happy to have the support of Alberta Innovates to do so. Our relationship with Swoop gives a real Alberta flavor to a global initiative. The results of this work can be rolled out around the world to our more than 80 airline customers."
Charles Duncan, President of Swoop commented, "The FLYHT APU solution aligns with our commitment to reduce greenhouse gas emissions by operating our fleet and ground infrastructure as efficiently and safely as possible. We are proud to be working with FLYHT to move the industry forward in the effort to reduce emissions."
About FLYHT Aerospace Solutions Ltd.
FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, delivering industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by FLYHT's patented aircraft certified hardware products including AFIRS, a satcom aircraft interface device which enables real-time streaming of flight information, cockpit voice and black box data streaming, AFIRS Edge a state of the art WQAR and satellite data communications device, and TAMDAR and the FLYHT-WVSS-II, which deliver airborne weather and humidity data in real-time. FLYHT is headquartered in Calgary, Canada with an office in Littleton, Colorado, and is an AS9100 Quality registered company. For more information, view our latest presentation here, or visit www.flyht.com.
About Swoop
Swoop is on a mission to make travel more affordable and accessible for all Canadians. Established in 2018 as an independent subsidiary of the WestJet Group of Companies, Swoop is Canada's ultra-not-expensive airline. Offering scheduled service to destinations in Canada, the U.S., Mexico and the Caribbean, Swoop's unbundled fares put travellers in control of purchasing only the products and services they desire.
Swoop's modern fleet of ten Boeing 737-800 NG aircraft, will grow to 16 with the addition of six Boeing MAX-8 in 2022. At FlySwoop.com?travellers?can quickly and easily book flights, manage bookings, check-in, view boarding passes, track flights and access Wi-Fi service in-flight.?????
About Alberta Innovates' PDP Program
The Product Demonstration Program is designed to de-risk the commercialization process by providing funds and coaching to high potential, high growth technology Alberta small to medium-sized enterprises to commercialize their products and achieve an optimal market position to increase revenue and potentially expand into global markets.
Cautionary Note Regarding Forward-Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the anticipated/projected revenues and related matters. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded based on expectations, assumptions and hypotheses made by the Company, including, but not limited to projected revenues. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to: global economic conditions; industry conditions, and supply chain delays. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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Contact Information:
FLYHT Aerospace Solutions Ltd. FNK IR LLC
Alana Forbes Matt Chesler, CFA
Chief Financial Officer Investor Relations
403.291.7437 646.809.2183
aforbes@flyht.com flyht@fnkir.com
investors@flyht.com
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SOURCE: FLYHT Aerospace Solutions Ltd.
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