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AeroMechanical Services Customer Expands with AFIRS 220

Dépèche transmise le 9 juin 2011 par Business Wire

AeroMechanical Services Customer Expands with AFIRS 220

CALGARY, Alberta--(BUSINESS WIRE)--AeroMechanical Services Ltd. (TSX-V: AMA) (the “Company” or “AMA”) today announced that an existing customer has signed a contract for four Automated Flight Information Reporting System (“AFIRS^TM”) model 220 units for Boeing 767 aircraft being added to its fleet. These units are the first AFIRS units being used by this customer.

The customer is a major air express company based in the United States and was a client of Wingspeed Corporation (“WC”) at the time AMA acquired WC in the fall of 2009 (see press release dated October 15, 2009). The customer cited AMA’s ongoing service and support, and the options offered by the AFIRS solution, as the drivers to select the AFIRS system for their B767-300SF aircraft.

The five-year agreement for AFIRS equipment and recurring service is valued at approximately US$360,000, excluding optional services. All necessary certifications are in place and installations are scheduled to begin in the third quarter of 2011.

This disclosure as it relates to this agreement is subject to the following disclaimer:

When a contract is initially signed, the intended number of aircraft, pricing and potential installation schedules is agreed to by the parties. The actual installation schedules as well as the number and types of aircraft are often revised throughout the term of the agreement as the airline realigns its fleet of aircraft with its business requirements. Delays in installations can and do occur which can affect the total value of the contracts such that the revenues noted above may not be fully achieved. Fulfilment of the contract terms may also be affected if there are any changes to government statutes, regulations or rules of the applicable governing bodies. The contract terms and values disclosed herein are based on the original information available to AMA upon execution of the contract and are subject to change. For the actual revenue earned, please see AMA’s financial statements including its revenue recognition policy disclosed within the notes to the Audited Annual Financial Statements.

About AeroMechanical Services

AeroMechanical Services Ltd., under the brand name FLYHT^TM, 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, AFIRS™ UpTime™, allows airlines to monitor and manage aircraft operations anywhere, anytime, in real-time. If an aircraft encounters an emergency, AMA’s emergency data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The company has been publicly traded on the TSX Venture Exchange since 2003 under the trading symbol AMA.

AFIRS, UpTime, FLYHT, FLYHTStream and aeroQ are trademarks of AeroMechanical Services Ltd.

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Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.