AeroMechanical Services Ltd. TSX-V Trading Symbol "AMA"
A Tier 2 Industrial Issuer
CALGARY, Aug. 28 /CNW/ - AeroMechanical Services Ltd. ("AMA") is pleased
to announce that we have received a contract from a US-based charter operator
for afirs(TM) UpTime(TM).
The scope of the contract includes gap-free real time global flight
following and cockpit voice and text services anywhere in the world,
operational data reporting, on board exceedance and discrepancy reporting in
real time, with the option of adding AMA's UpTime Fuel Management Information
and emergency in the future without any additional airborne hardware.
Provisions for adding electronic flight bags will be included.
The terms of the contract are as follows: the contract is for an initial
5-year term whereby AMA will provide AMA's patented afirs(TM) UpTime(TM)
solution on a fleet of Boeing 767 aircraft (with the possibility to increase
the order as the size of the operator's fleet increases). If AMA is able to
install on the all contracted aircraft and provide recurring service for the
full term of the agreement, the gross revenues to AMA under this agreement
would be approximately USD$804,000, excluding optional services.
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 aviation
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), and FIRST(TM) allows airlines to monitor and manage aircraft
operations anywhere, anytime, in real-time.
afirs, UpTime, FLYHT and aeroQ are Trade Marks of
AeroMechanical Services Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: on AMA contact: Tom French, CFO, AeroMechanical
Services Ltd., (403) 291-7427, email@example.com; Bob Beaty, The Howard
Group Inc., Toll Free: 1-888-221-0915, Info@howardgroupinc.com,