AeroMechanical Services Ltd. Announces Contract Renewal with Caribbean Regional Operator

CALGARY--(BUSINESS WIRE)--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™ UpTime™ solution since 2005.

The contract extension includes equipping an expanded fleet with AMA’s Automated Flight Information Reporting System (afirs™), UpTime™ 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™ UpTime™ 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™ continuous communication capabilities and the central information and report delivery provided by UpTime”, stated Richard Hayden, President of AMA.

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. 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 Statements.

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™ UpTime™, 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.

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