Brampton, Ontario–(Newsfile Corp. – April 5, 2022) – Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA) (“Star” or the “Company”) is pleased to announce that it has received a purchase order for its Star ADS ® system from Swiss Aviation Group AG (“SAG”) ). The purchase order consists of nine (9) Star ADS ® units, to be delivered to four different airlines. The estimated value of the purchase order is $2.9 million over five years.
SAG’s delivery plan for the nine aircraft equipped with Star ADS® starts in June 2022 and is expected to be completed in December 2022. Star plans to start preliminary inspections on the first two aircraft in France at the end of April 2022.
The purchase order is conditional on two factors: successful financing of the aircraft lease and regulatory approval from local civil aviation authorities of additional type certificates required for each aircraft.
Mr. Amir Bhatti, CEO of Star said: “We are delighted that SAG has completed its first Star ADS ® sale. This is a start for four airlines to which they lease aircraft. It is a great success for Star and SAG and proves that despite difficult operating conditions , landlords and operators see Star ADS ® as a solution for optimizing operations.
“Star has worked hard to introduce its Star ADS® system as the commercial aviation industry has endured the Covid-19 pandemic, and with another wave of Covid-19 emerging in China and now conflict in Ukraine, It has been a struggle for Star.The industry works with very thin margins and therefore requires all technological improvements to reduce business risks.
“With the end of Covid lockdowns around the world, airlines are seeing pent-up demand for travel. This is particularly the case for business travel where video conferencing meetings have replaced face-to-face meetings with customers. over the past two years Air Recovery The travel industry requires reducing flight loads for customers during Covid and optimizing flight operations Star’s ADS ® provides this and we are ready and eager to prove it.
Mr. Malte Dollinger, Chairman and CEO of Swiss Aviation Group, said: “We are very pleased that our current airline customers are following our recommendation to install the Star ADS® system in most of the aircraft we will deliver during 2022.
“Having been able to showcase and demonstrate the superior capabilities and reach of the Star ADS® system compared to competitive products on the market, we are confident that our airline customers will benefit in many ways in their day-to-day operations, particularly in the areas of fuel optimization, reduced engine and airframe maintenance costs, better flight tracking, increased safety and end-of-flight reporting.
“Having been entrusted and supported by Star in marketing their product to our airline customers worldwide since 2021, we anticipate that new opportunities will now develop steadily with more of our airline customers in the years to come.”
About Stellar Navigation:
Star Navigation Systems Group Ltd. manufactures the in-flight safety monitoring system, STAR-ISMS®, the heart of the STAR-ADS® system. The STAR-ADS® system has the ability to track real-time, performance trends and predict incident occurrences, which improves aviation safety and improves fleet management while reducing operator costs . Star’s MMI division designs and manufactures high-performance, mission-critical cockpit flat panel displays for the defense and commercial aviation industries worldwide.
Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements are statements that address or discuss activities, events or developments that Star expects or anticipates to occur in the future. When used in this press release, words such as “estimates”, “expects”, “plans”, “anticipates”, “projects”, “will”, “believes”, “has intent, “should”, “could”, “may”, and other similar terms are intended to identify such forward-looking statements.
Forward-looking statements reflect the current expectations and beliefs of Star’s management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, the actual results, performance or achievements of Star or the industry may differ materially from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this press release include statements regarding: the growth and future prospects of our business; our perceptions of the industry and markets in which we operate and anticipated trends in those markets; expectations regarding the operation of our application; and our future income.
Important factors or assumptions that were applied in reaching a conclusion or making an estimate set forth in forward-looking statements may include, but are not limited to, our ability to execute our business plan, increase consumer visibility and to convert users into revenue. the generation of subscribers and the business success of our partners.
Forward-looking statements involve significant uncertainties, should not be construed as guarantees of future performance or results, and will not necessarily be an accurate indication of whether or not those results will be achieved.
A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation: those related to potential disruptions in product delivery; non-compliance with regulatory requirements; market changes; potential downturns in economic conditions; availability of funding (if required); and other risk factors described in our filing statement available on SEDAR at www.sedar.com. These and other risks could cause actual results and events to vary materially. Accordingly, readers should exercise caution when relying on forward-looking statements, and Star undertakes no obligation to revise them publicly to reflect subsequent events or circumstances, except as required by law.
The risks posed by the COVID-19 pandemic are real and substantial, but cannot be defined or meaningfully measured at this time. Many other factors could cause Star’s actual performance or achievement to differ from those depicted herein.
Should one or more of these factors or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described herein as anticipated, planned, anticipated, believed, estimated or expected.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE THIS COMMUNIQUE.
Please visit www.star-navigation.com or contact:
Mr. Amir Bhatti, CEO at 1-416-252-2889 #230 or [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119289