AeroMechanical Services Ltd. TSX-V Trading Symbol "AMA"
A Tier 2 Industrial Issuer
CALGARY, Jan. 5 /CNW/ - AeroMechanical Services Ltd. ("AMA") is pleased
to announce that we have received a 5-year contract extension from a major
Bombardier Q Series (Dash-8) regional operator based in the West Indies. This
customer has been a user of AMA's patented afirs(TM) UpTime(TM) solution since
The contract extension includes equipping an expanded fleet with AMA's
Automated Flight Information Reporting System (afirs(TM)), UpTime(TM)
web-based services, and on-site assistance. The 5-year value of the new
contract is in excess of $2,200,000 US depending upon the timing of the
additional installations and the extent of on-site services required.
"We are pleased that one of our original customers will be relying on
afirs(TM) UpTime(TM) voice and data for operational control, increased
aircraft availability, and lower operating costs. Their widely distributed
operations over 22 destinations in the Eastern Caribbean are very well served
by afirs(TM) continuous communication capabilities and the central information
and report delivery provided by UpTime", stated Richard Hayden, President of
This disclosure as it relates to this agreement is subject to the
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. Fulfillment 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
About AeroMechanical Services, Ltd.
AeroMechanical Services, Ltd., provides proprietary technological
solutions and services designed to reduce costs and improve efficiencies in
the airline industry. The company has successfully commercialized three
products and associated services currently marketed to airlines, manufacturers
and maintenance organizations around the world. Its premier technology,
afirs(TM) UpTime(TM), allows airlines to monitor and manage aircraft
operations anywhere, anytime, in real-time. Its fuel management products and
services are assisting aircraft operators in reducing fuel costs and
greenhouse gas emissions.
afirs, UpTime, FLYHT and aeroQ are Trade Marks
of AeroMechanical Services Ltd.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Tom French, CFO, AeroMechanical Services Ltd,
(403) 291-7427, email@example.com, www.amscanada.com; Bob Beaty, The
Howard Group Inc., Toll Free: 1-888-221-0915, Info@howardgroupinc.com,