FLYHT Signs Master Service Agreement with Jabil, Global Leader in Avionics Manufacturing
Calgary, Alberta Ã¢â‚¬â€œ January 15, 2013 (TSX-V: FLY) Ã¢â‚¬â€œ FLYHT Aerospace Solutions Ltd. has executed an agreement with Jabil Defense and Aerospace Services, a wholly-owned subsidiary of Jabil Circuit, Inc. (NYSE:JBL), of St Petersburg, Florida, to manufacture the AFIRS 228Ã¢â€žÂ¢ product line.
AFIRS 228 is FLYHTÃ¢â‚¬â„¢s next-generation flagship product. It will provide a fully certified avionics platform capable of meeting all air navigation communications requirements in Europe, the United States and other jurisdictions around the world. It will also provide the input and outputs necessary to enhance the value of real-time data for FLYHTÃ¢â‚¬â„¢s customers globally. The AFIRS 228 will be the first safety services certified platform, worldwide, to provide black box data streaming via FLYHTStreamÃ¢â€žÂ¢, FLYHTÃ¢â‚¬â„¢s patent pending solution.
Jabil Defense and Aerospace will begin manufacturing the AFIRS 228B for FLYHT customers globally in the first quarter of 2013 and the AFIRS 228S soon thereafter.
FLYHT president and CEO Bill Tempany said, Ã¢â‚¬Å“We are very excited to have a global leader in the manufacture of avionics products as our partner in the production of our flagship product. We are working on the certification required by Transport Canada to have product delivered directly from the Jabil manufacturing facility to our end-customers and weÃ¢â‚¬â„¢re looking forward to the streamlining of our processes.Ã¢â‚¬Â
While this agreement is anticipated to result in reduced manufacturing and inventory carrying costs, the major catalyst for the decision is managementÃ¢â‚¬â„¢s expectation of accelerated demand for AFIRS units in 2013.
Tempany added, Ã¢â‚¬Å“We know Jabil has the global production volumes to obtain preferred pricing and the reduced lead times required to meet our anticipated volume needs. We have been provided with information that indicates we should expect approximately 25% of the annual Airbus A320 production to require AFIRS units, through factory fit and retrofit installs. In order to meet this demand, in combination with the ongoing expansion of our customer base, a higher volume production facility needs to be in place.Ã¢â‚¬Â
Jabil Defense and Aerospace ServicesÃ¢â‚¬â„¢ president and vp of global business units, Scott Gebicke, said, Ã¢â‚¬Å“FLYHT and the AFIRS product represent a disruptive innovation that can transform avionics data management and dissemination. We are proud to help FLYHT deliver the highest quality certified product to its growing customer base and we will continue to support them in the development and delivery of their product family.Ã¢â‚¬Â
FLYHTÃ¢â‚¬â„¢s recent announcements featuring L3, Nigeria and a range of new customers, foretell the growth FLYHT expects to see in the near future. The relationship with Jabil will allow FLYHT to meet its product demand, regardless of where in the world that demand comes from.
About FLYHT Aerospace Solutions Ltd.
FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRSÃ¢â€žÂ¢ UpTimeÃ¢â€žÂ¢, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHTÃ¢â‚¬â„¢s triggered data streaming mode, FLYHTStreamÃ¢â€žÂ¢, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. In May 2012 the trading symbol was changed from AMA to FLY in conjunction with a name change from AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.
About Jabil Defense and Aerospace Services
Jabil Defense and Aerospace Services is a wholly-owned subsidiary of Jabil Circuit, Inc., a leading electronic product solutions provider, offering defense and aerospace industry-focused electronic design and manufacturing services. Jabil Defense and Aerospace Services expertise includes rapid prototyping, compressed timelines for design-to-market production, programs and tools to mitigate E&O risk, highly motivated and responsive customer focused workcells, and industry experience and reputation. Jabil helps bring electronics products to the market faster and more cost effectively by providing complete product supply chain management around the world. Jabil provides comprehensive, customer-focused solutions to a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, Ã¢â‚¬Å“JBLÃ¢â‚¬Â. Further information is available on the companyÃ¢â‚¬â„¢s website: jabil.com.