FLYHT Receives US$5.65 million Purchase Order from a Long-Time OEM Partner

Calgary, Alberta – May 4, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) 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.

About FLYHT Aerospace Solutions Ltd.
FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, or visit flyht.com.

FLYHT Reports First Quarter 2022 Results Highest Revenue Quarter in Two Years

Calgary, Alberta – May 3, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today reported financial results for the first quarter ended March 31, 2022 (“Q1 2022”). All figures are Canadian dollars unless otherwise stated.

Financial Summary – For Three Months ending March 31

 2022 2021Increase /Decrease
Revenue$5,030,657$2,691,27587%
 SaaS1,675,0721,539,8259%
 Hardware2,109,598831,704154%
 Licensing1,134,706182,181523%
Technical Services111,281137,565-19%
Gross Margin54.7%56.5%-80 bps
EBITDA(937,630)(1,000,616)6%
Net Income (Loss)(1,284,347)(912,068)-40%
EPS – Basic(0.03)(0.03)(0.00)
EPS – Diluted(0.03)(0.03)(0.00)

Added Tempany, “One major area that FLYHT is particularly well positioned to assist the aviation industry is climate, where we are focused on being the premier supplier of products and services to assist our customers in their efforts to meet or exceed net-zero targets. We are supporting customers in multiple ways, whether it be helping airlines reduce unnecessary fuel burn on the ground, or regulators and the planet as a whole better understand what is changing and where. The move to sustainable aviation fuel (“SAF”) will only further increase the importance of data and insights to on aircraft performance, and so we are very optimistic about how FLYHT can be part of an industry solution and how this growing area of global importance can be a megatrend driving continued performance of FLYHT’s business in the years ahead.”

Operating Results
Revenue increased by 87% to $5,030,657 compared to Q1 2021, driven by growth in all three of our largest businesses, and $186,360 of contribution from CrossConsense which was consolidated into the Company’s results beginning March 17, 2022. Excluding CrossConsense, revenue increased 80% compared to Q1 2021.

Licensing revenue increased by 523% to $1,134,706 due to a higher number of modems and associated license fees ordered for delivery in comparative periods. Hardware revenue increased by 154% to $2,109,598 due to the reopening of international travel, particularly seen in North America, resulting in customers moving forward with shipments of 34 contracted installation kits versus 17 in Q1 2021. SaaS revenue increased by 9% to $1,675,072 and due to a higher number of flights and flight hours. Technical Services revenue decreased by 2% to $111,281.

Gross margin was 55% of revenue compared to 57% in Q1 2021. The decrease in gross margin was due primarily to changes in the mix of revenue sources during the quarter.

Operating expenses increased by 43% from Q1 2021, with all categories contributing to the increase – Distribution expenses by 37%, Administration expenses by 71%, and Research and Development and certification engineering expenses by 27%. This increase contributed to an increase in bad debt reserve, labor and legal expenses related to the pursuit and acquisition of CrossConsense and the elimination of government grants in 2022.

EBITDA[1] loss totaled $937,630 compared to EBITDA loss of $1,000,616 in Q1 2021.

Net loss was $1,284,347 compared to Net loss of $912,068 in Q1 2021.

Balance Sheet and Liquidity
Cash and short-term investments were $3,326,656 at March 31, 2022, compared to $4,520,591 at December 31, 2021.

Trade and other receivables increased to $3,700,553 compared to YE 2021, and Trade payables and accrued liabilities increased by 91% to $3,255,540 compared to YE 2021. The combination of the addition of CrossConsense working capital balances calculated as part of the acquisition purchase price allocation, in tandem with increased sales in Q1 and associated costs resulted in an increase in both the receivables and payables balances.

Additional Information
FLYHT’s Q1 2022 Report, which contains more detailed information including the CEO’s Letter to Shareholders, Management Discussion and Analysis and Financial Statements, can be accessed on the Company’s website. The MD&A and Financial Statements have also been filed with SEDAR and will be accessible at http://www.sedar.com.

About FLYHT Aerospace Solutions Ltd.
FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit flyht.com.

FLYHT Aerospace Solutions and MBS Electronic Systems Partner to Prototype Secure Wireless Avionics Software

FLYHT and MBS prototype developed for secure wireless avionics software vault and onboard data loading solution to enable customers to fully comply with new security requirements

Calgary, Alberta and Gilching Germany May 3, 2022 – FLYHT Aerospace Solutions Ltd(TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced a cooperation with MBS Electronic Systems GmbH (“MBS”), a leading provider of secure data loading solutions that enable compliant avionics software maintenance and safer flight operations. The two companies have collaborated to develop a secure wireless avionics software and onboard data loading solution with the goal of enabling customers to fully comply with new security requirements.

Stated Kent Jacobs, President of FLYHT, “Airlines have been seeking secure data loading that makes for a lower cost and quicker installation and meets all regulator requirements. This partnership with MBS enables us to combine our AFIRS Edge platform, an advanced secure avionics data repository, with an advanced avionics data loader capability provided by the experts at MBS. Together, this creates a streamlined, secure solution for airlines to utilize, complying with secure data requirements and improving operating efficiency.”

Added Dr. Charles Nicholls, Technical Director at MBS, “As a leader in the secure portable data loader field, we have seen increased demand from airlines for an onboard solution that meets the guidance of ARINC 645-1. Together with FLYHT, we can service this growing need among the airlines.”

Added Willie Cecil, Sales Director at FLYHT, “Both companies’ technologies are so mature that an initial prototype solution was developed and will be demonstrated in Memphis. We are excited by airline interest in our solution, and we plan to qualify and certify the solution within the next six months.”

FLYHT and MBS plan to showcase the new solution to airlines at the annual Aviation Maintenance Conference in Memphis on May 10-12, 2022. This collaboration offers the opportunity to evaluate the strength of a combined solution, with the intention to solidify a financial arrangement following the Memphis event.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products. These include AFIRS™, an aircraft satcom/interface device, which enables cockpit voice communications, real-time aircraft state analysis, and the transmission of aircraft data while inflight. The AFIRS Edge is a state-of-the-art 5G Wireless Quick Access Recorder (WQAR), Aircraft Interface Device (AID), and Aircraft Condition and Monitoring System (ACMS). The Edge can be interfaced with FLYHT’s TAMDAR probe or the FLYHT-WVSS-II relative humidity sensor to deliver airborne weather and humidity data in real-time.

CrossConsense, FLYHT’s wholly-owned subsidiary, offers highly skilled services to the commercial aviation industry and provides preventative maintenance solutions. These include Aircraft Fleet View, a native application that gives a real-time view of airline fleet status; AviationDW, a managed data warehouse for enhanced business intelligence; and ACSIS, a visualization and predictive maintenance alerting tool.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. CrossConsense, located in Frankfurt, Germany, is an ISO9001 certified operation. For more information, visit www.flyht.com.

About MBS Electronic Systems GmbH

Based in Gilching, Germany, MBS provides the e-enabled data loading system of choice for many of the world’s largest and most prestigious airlines. With innovative technologies and unrivalled customer support and cooperation, MBS continually improves their product features and adapts to the changing requirements of the industry. MBS provides a secure, cost effective, reliable data loading solution with a total commitment to quality and customer satisfaction. For more information, visit www.mbs-electronics.com.

FLYHT and Swoop Partner to Reduce Emissions

Receives Support from Alberta Innovates for Environmental Leading Initiative

Calgary, Alberta – March 16, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: 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 http://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.

FLYHT Receives TSX Venture Exchange Approval for Acquisition of CrossConsense

Calgary, Alberta – March 1, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced that it has received approval from the TSX Venture Exchange for the proposed acquisition of CrossConsense GmbH & Co. KG (“CrossConsense”). The arms’ length acquisition of CrossConsense is expected to accelerate FLYHT’s strategic roadmap to build out a maintenance capability, and will fulfill the Company’s goal to increase its presence in the European and Middle East markets.

Under terms of the agreement, previously announced on January 27, 2022, FLYHT (through its wholly owned German subsidiary formed as part of this transaction) will acquire all of the outstanding securities of CrossConsense. This agreement is to be effective January 1, 2022. The parties anticipate closing the transaction as soon as possible after final approval has been received from the German government.

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 5G 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 http://www.flyht.com.

About CrossConsense GmbH & Co. KG

Founded in 2002, Frankfurt Germany-based CrossConsense offers its customers in the commercial aviation industry, highly skilled services, designed to enhance their productivity and uptime performance, based on sound knowledge in the areas of maintenance, engineering and logistical support. CrossConsense maintains a staff of 24 dedicated, experienced, and motivated team workers. For more information, visit https://www.crossconsense.com.

FLYHT Bolsters Leadership Team with Industry Veteran Bruce Gowling

Calgary, Alberta – February 24, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced that veteran aviation executive Bruce Gowling has joined FLYHT to lead the Company’s solutions sales group as the Director of Digital Transformation & Data Solutions. Bruce brings nearly 30 years of experience in providing high value technical solutions to the airline industry and has the relationships, knowledge and experience required to make FLYHT’s Actionable Intelligence products industry leaders.

Derek Taylor, VP Sales and Marketing at FLYHT, stated, “I have known Bruce for nearly 20 years and am excited to have him join our team and spearhead FLYHT’s drive to become the leading SaaS provider to the commercial aviation space. Bruce is uniquely qualified to lead the teams developing our Actionable Intelligence portfolio, which will be driven in part by the incredible flexibility of the AFIRS Edge and the new capabilities in predictive maintenance that we are gaining through our pending acquisition of CrossConsense, signed in January 2022.”

Bruce stated, “It’s an honor to be joining FLYHT at this exciting time, as the aviation industry needs smart enterprise software solutions now more than ever. In my role, I am focused on accelerating the adoption of FLYHT’s Actionable Intelligence solutions, and an particularly excited about expanding the opportunity set now that CrossConsense is part of the FLYHT family.”

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 5G 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.

FLYHT Partners with SITA

Calgary, Alberta – January XX, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced that it has signed a reseller agreement with SITA for its AIRCOM® Cockpit Services, initially focusing on developing the market for Iridium Certus. This relationship will benefit both parties by aligning sales endeavors and enables FLYHT to provide additional inflight satellite internet connectivity to AFIRS Edge customers. SITA, the leading IT provider to the air transport industry, last year integrated the Iridium Certus® satellite communication service into its AIRCOM® Cockpit Services portfolio, which provides critical communications for aircraft operations and Air Navigation Service Provider customers globally, and supports more than 18,000 aircraft in their daily operations. Iridium Certus enables a dedicated native IP connection to the cockpit with global coverage and increased security via authentication and virtual private networking.

Bill Tempany, CEO stated, “FLYHT is pleased to extend our relationship with SITA and looks forward to closer collaboration as our Actionable Intelligence tools roll out to integrate our capabilities with SITA’s many offerings to their customers. FLYHT is developing tools for our customers to reduce turn times, increase fuel efficiency and reduce emissions, and partners like SITA will help accelerate that growth.”

Sebastien Fabre, CEO SITA FOR AIRCRAFT commented: “We see FLYHT as a strong partner for furthering the reach of our services to smaller, regional airlines. The company’s AFIRS Edge is a state-of-the art solution that gives aviation customers real-time access to the latest satellite and cellular connectivity. We look forward to further developing this relationship.”

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 5G 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 http://www.flyht.com.

About SITA

SITA is the air transport industry’s IT provider, delivering solutions for airlines, airports, aircraft and governments. Our technology powers more seamless, safe and sustainable air travel.

With around 2,500 customers, SITA’s solutions drive operational efficiencies at more than 1,000 airports while delivering the promise of the connected aircraft to customers of 18,000 aircraft globally. SITA also provides technology solutions that help more than 70 governments strike the balance of secure borders and seamless travel. Our communications network connects every corner of the globe and bridges 60% of the air transport community’s data exchange.

SITA is a certified CarbonNeutral® company in accordance with The CarbonNeutral Protocol – the leading global standard for carbon neutral programs. We are reducing our greenhouse gas emissions for all our operations through our UN recognized Planet+ program, while also developing solutions to help the aviation industry meet its carbon reduction objectives, including reduced fuel burn and greater operational efficiencies at the airport.

SITA is 100% owned by the industry and driven by its needs. It is one of the most internationally diverse companies, providing services in over 200 countries and territories.
For further information, go to sita.aero

FLYHT Agrees to Purchase Shares of CrossConsense, Adding Strategic

Capabilities in Aircraft Maintenance and Expanding European Presence

Calgary, Alberta and Frankfurt, Germany – January 27, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) and CrossConsense GmbH & Co. KG (“CrossConsense”) today announced an agreement whereby FLYHT will acquire all of the outstanding shares of CrossConsense. This acquisition is expected to accelerate FLYHT’s strategic roadmap to build out a maintenance capability, and will fulfill the Company’s goal to increase its presence in the European and Middle East markets.

CrossConsense develops and markets software to support commercial aviation maintenance management. Products include:

  • A predictive maintenance troubleshooting and engineering tool;
  • Software to support aircraft maintenance, repair and data migration; and
  • Live data dashboards to assist aircraft maintenance teams.

CrossConsense has also constructed a progressive web application plus native apps that offer up-to-date data on an airline’s fleet status. Additionally, CrossConsense offers consulting and support services as well as hosting, database operation and performance monitoring of commercial aircraft maintenance applications.

The acquisition of CrossConsense is designed to further cement and extend a number of FLYHT’s key commercial objectives. Through this transaction, FLYHT will now be able to build a meaningful European presence, within a major aviation hub, as CrossConsense is based in Frankfurt, Germany. Additionally, the transaction is expected to expand FLYHT’s reach into software technical services in support of aircraft maintenance functions. Finally, the transaction is expected to bring new worldwide customers to both companies.

Udo Stapf, the founder and majority shareholder of CrossConsense stated, “The integration of our team and capabilities with those of FLYHT’s is expected to meaningfully enhance our capabilities to provide global solutions to our combined customer base of more than 100 airline and cargo customers. Under the FLYHT umbrella of products and services, we will be better positioned to service the growing needs of our customers, helping them improve efficiency.”

Bill Tempany, CEO of FLYHT, stated, “Acquiring CrossConsense will expand FLYHT’s product line with predictive maintenance and maintenance system services – two areas that are in high demand by our customers and synergistic with our current offering. The ability to utilize real-time AFIRS data in a maintenance environment is anticipated to provide a substantial impetus to our customers’ Actionable Intelligence. Additionally, the combination is expected to establish a meaningful European presence for our company through which we can further build our global operations.”

Added Tempany, “We welcome the many talented maintenance software specialists at CrossConsense to the FLYHT team. Their extensive knowledge of aircraft maintenance management systems and development expertise in blockchain processes strengthens our knowledge base in areas that are especially aligned with FLYHT’s key ongoing strategic initiatives.”

Transaction Detail

Under terms of the agreement, FLYHT (through its wholly owned German subsidiary formed as part of this transaction) will acquire all of the outstanding securities of CrossConsense. The purchase price was within industry norms for revenue multiples of private companies. This agreement is subject to approval of the German Government and the TSX Venture Exchange and to be effective January 1, 2022, with a transaction close as soon as possible after those approvals are received.

Additionally, Udo Stapf will continue his involvement in the business, with an agreement in place for provision of services over the 18 months following the transaction’s effective date.

FLYHT also announced that Axel Christ from CrossConsense has been appointed Managing Director of the new organization. Over his 15 years at CrossConsense he has made significant contributions, responsible for innovation and technology of the company’s software and services. Mr. Christ has been working with Kent Jacobs, President of FLYHT in Calgary, on aligning priorities and goals.

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 5G 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 http://www.flyht.com.

About CrossConsense

Founded in 2002, Frankfurt Germany-based CrossConsense offers its customers in the commercial aviation industry, highly skilled services, designed to enhance their productivity and uptime performance, based on sound knowledge in the areas of maintenance, engineering and logistical support. CrossConsense maintains a staff of 24 dedicated, experienced, and motivated team workers. For more information, visit https://www.crossconsense.com.

FLYHT Achieves Amazon Web Services Travel and Hospitality Competency Status

Calgary, Alberta – January 25, 2021 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) announced it has achieved Amazon Web Services (AWS) Travel and Hospitality Competency status.

As an AWS Travel and Hospitality Competency Partner, FLYHT has demonstrated customer success and technical proficiency in connecting their customers’ aircraft, crews, and operations. FLYHT’s product family enables airlines to provide exceptional customer service and achieve operational excellence. THE AWS Travel and Hospitality Competency designation helps customers to identify and validate the most experienced AWS partners who can help industry customers to succeed. These AWS Partners help customers by providing technology products and services to accelerate the industry’s modernization and innovation journey – from behind-the-scenes operational efficiencies to guest-facing customer experiences.

The FLYHT product family, including AFIRSTM, AFIRS Edge and other AWS powered applications in the Actionable Intelligence suite provide significant benefits to airline customers. FLYHT’s unique on-wing inference technology keeps airlines connected to their aircraft by aggregating and disseminating data in real-time via the Iridium satellite network, other satellite feeds, 5G, Wi-Fi, and Bluetooth. Actionable Intelligence derived from this data delivers guidance to airlines’ ground operations to reduce turn times, costs, fuel burn, and CO2 emissions. FLYHT’s solutions bring IoT connectivity to aircraft. The product family will be further enhanced through the relationship with AWS and their Partner Network in IoT, machine learning, and other advanced technologies.

Azur Air is one of FLYHT’s customer airlines who benefits from FLYHT’s solutions. “Utilizing FLYHT technology, Azur Air has complete visibility and situational awareness of its fleet in one user friendly interface (FLYHT’s UpTime Cloud platform with FLYHT’s Aircraft Situational Display).” says Ümmehan Mert, Aircraft Systems Engineer for Azur Aviation. “FLYHT was able to also summarize all the information in weekly automated flight summary reports directly from the UpTime Cloud AWS platform. FLYHT is well positioned from a cost and innovation perspective, by using AWS services and support, to continue to outperform competitors and create end to-end solutions for airlines.” continues Ms. Mert.

Derek Taylor, VP Sales and Marketing stated, “The team at FLYHT is very excited to be leveraging AWS. The AWS Travel and Hospitality Competency recognizes our unique value proposition, together with their extensive sales network, will ensure we reach more customers who are able to benefit from our solutions. We look forward to strengthening ties with aviation leaders in 2022 as the recovery of our industry gets into full swing.”

“Many travel and hospitality companies are reinventing themselves on AWS. We are delighted to welcome FLYHT to the AWS Travel and Hospitality Competency Program,” said David Peller, Managing Director, Travel & Hospitality, Amazon Web Services. “FLYHT’s connectivity and operational efficiency solutions, powered by AWS, can help our customers transform their business by maintaining complete operational visibility to their critical aviation assets and people.”

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 5G 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 http://www.flyht.com.

FLYHT Signs Actionable Intelligence Agreement with Coral Jet

Calgary, Alberta – January 11, 2022 – FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) and Bermuda Aviation Asset Management Ltd dba Coral Jet (“Coral Jet”), today announced the signing of an agreement to equip Coral Jet’s future fleet of seven A319/320 aircraft with AFIRS™ and to provide SaaS services from FLYHT’s Actionable Intelligence suite of applications.

Coral Jet is a start up airline that will serve the Caribbean, United States, and Canada with plans to increase its aircraft fleet over the coming years.

Wes Gardner, Director of Flight Operations for Coral Jet, stated, “Our team has used the AFIRS solution in previous operations a65nd the flexibility of the hardware and software components, coupled with the reliability of the products and the professionalism of FLYHT staff, have always served us well. As a new operation, we have the ability to start with good habits. FLYHT’s Actionable Intelligence applications will reinforce the necessary fuel management practices we are striving for.”

Bill Tempany, FLYHT’s Chief Executive Officer, stated, “Coral Jet is the latest upstart airline to adopt FLYHT’s solutions to help them gain a competitive advantage in an increasingly competitive industry. Our team is committed to adding functionality to help Coral Jet, and our 80-plus customers, secure and maintain that market lead in their respective markets.”

Installations will start early in the second quarter of 2022. The contract is expected to generate revenue of approximately US$760,000 over the five year contract term, with potential for increases as Coral Jet’s fleet grows.

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 5G 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 presentation here, or visit http://www.flyht.com.