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Press release from Marketwire

FLYHT Signs New AFIRS 228 Contract in Nigeria

Tuesday, October 23, 2012

FLYHT Signs New AFIRS 228 Contract in Nigeria07:03 EDT Tuesday, October 23, 2012CALGARY, ALBERTA--(Marketwire - Oct. 23, 2012) - (TSX VENTURE:FLY) - FLYHT Aerospace Solutions Ltd. ("FLYHT") reported today that it has signed a contract with a Nigerian airline for the Automated Information Reporting System ("AFIRS™") 228.The contract requires FLYHT to install the AFIRS 228 on five McDonnell Douglas MD-83 aircraft for a domestic operator in Nigeria. The airline will use AFIRS to provide real-time flight data monitoring and to assist in achieving maintenance and operational efficiencies. The customer will benefit from all AFIRS 228 features including automated Out, Off, On and In times, engine trending, airframe and engine exceedances, flight tracking and satellite voice communications. The airline is another operator in Nigeria taking steps to follow the recommendations of the Nigerian Civil Aviation Authority ("NCAA"), to implement an intelligent flight tracking system to increase safety and improve efficiency."FLYHT is pleased to continue to support the Nigerian aviation community's initiatives to increase safety and efficiency," said Bill Tempany, CEO of FLYHT. "This contract continues to build on the NCAA's vision for the Nigerian aviation industry. We are very happy to support the initiatives being taken by the regulators to improve operational safety through visibility of real time information on aircraft owned and operated in their airspace."FLYHT will provide equipment and services to the airline over a five year contract. Installations are anticipated to begin in the first quarter of 2013. If FLYHT completes installation on all contracted aircraft and provides recurring service for the full term of the agreement, gross revenue to FLYHT will be approximately $1,008,250 USD, excluding optional services. The installations will commence upon AMA receiving all necessary certifications and no issues are anticipated for the completion of the certification.AFIRS 228 is FLYHT's next-generation flagship product. It will provide a fully certified avionics platform capable of meeting all air navigation communications requirements in Europe, the United States and other jurisdictions around the world. It will also provide the input and outputs necessary to enhance the value of real-time data for FLYHT's customers globally. The AFIRS 228S will be the first safety services certified platform on the planet to provide black box data streaming via FLYHTStream™, FLYHT's patent pending solution.About FLYHT Aerospace Solutions Ltd. FLYHT 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, FLYHT's triggered data streaming mode, FLYHTStream™, automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. In May 2012 the trading symbol was changed from AMA to FLY in conjunction with a name change from AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd.AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.Join us on social media! www.facebook.com/flyht www.twitter.com/flyhtcorp www.slideshare.net/flyhtcorp www.youtube.com/flyhtcorp www.flyht.com FOR FURTHER INFORMATION PLEASE CONTACT: 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. Contact Information: FLYHT Aerospace Solutions Ltd.Thomas R. French, CGAVP Finance and CFO403-291-7427tfrench@flyht.comThe Howard Group Inc.Dave Burwell, Senior AssociateInvestor Relations(888) or (403)-221-0915