FLYHT Provides First Quarter 2020 Update and Schedules Fourth Quarter and Fiscal 2019 Conference Call

CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) -- FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) announces preliminary first quarter 2020 highlights and sets fourth quarter and fiscal year 2019 conference call for Thursday, April 9, 2020 at 7:00 a.m. MDT (9:00 a.m. EDT).

First Quarter 2020 Preliminary Highlights

• Secured an aggregate US $4.6 million in sales contracts and purchase orders, assuming the Company provides services over the full term of these contracts
• Expanded Supplemental Type Certificate (STC) portfolio
• Reported sales order backlog of approximately $52 million¹
• Promoted seasoned aviation executive Derek Taylor to Vice President, Sales and Marketing (previously announced March 3, 2020)
• Provided worldwide meteorological organizations a temporary, free license to utilize Tropospheric Airborne Meteorological Data Reporting (TAMDAR) weather data sets to help offset the recent decrease in accessible data due to COVID-19 (previously announced March 30, 2020)
• FLYHT shared its preliminary strategic response to the COVID-19 pandemic and its negative impact to commercial aviation (press release dated March 25, 2020)

During the first quarter of 2020, FLYHT secured an aggregate of US $4.6 million in sales contracts and purchase orders, including:

• A one-year contract extension with Environment and Climate Change Canada for the delivery of Aircraft Meteorological Data Relay (AMDAR) data
• Two Automated Flight Information Reporting System (AFIRS) 228S kits to an existing Chinese airline customer
• A partner (previously announced September 28, 2015) leased an AFIRS 228B equipped aircraft to an African operator who activated FLYHTLog, FLYHTASD, FLYHTVoice and FLYHTHealth on a five-year contract
• Three AFIRS 228B kits to a new aircraft leasing customer
• One AFIRS 228S kit to a European operator to implement Future Air Navigation System (FANS) safety services voice and data
• One AFIRS 228B kit to an existing African operator customer
• Previously announced a US $2.43 million purchase order for Iridium modems and license fees from a long-time OEM customer (previously announced February 18, 2020)
• Previously announced a US $1.77 million purchase order for software as a service (SaaS) features FLYHTHealth and FLYHTMail from Azur Havacilik A.S. (previously announced February 24, 2020)

In addition to the new sales contracts and purchase orders, FLYHT added to its extensive Supplemental Type Certificate (STC) portfolio in the first quarter, receiving the following: