Flyht (FLY.V) helps airlines improve safety and decrease operational costs, Through its flagship product: Automated Flight Information Reporting System (AFIRS), the company collects data via a hardware component that communicates with the aircraft's mainframe. That information is relayed via satellite (Iridium) to the airlines' flight operations center. In addition to providing flight crew communications, AFIRS monitors engines, instruments, and navigation's systems in real-time. Some of the features include engine stress monitoring, fuel usage, and remote system diagnostics. The remote system diagnostic component is innovative as it provides detection and alerts the airline maintenance department. Hence, AFIRS allows for the early deployment of the necessary resources to the aircraft destination and can provide operational cost savings by reducing aircraft downtime.
The company has been public for more than 10 years and has recently reached profitability. In addition to being first movers, FLY has been operating mostly in China which accounts for 25% of the total global airplane purchases.
With a recent order from China Express Airlines for $1.3M, FLY is on a trajectory to reach new heights.
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