EasyJet
The data collection phase of the contract with EasyJet was successfully completed one month ago. As soon as the full data set has been received the analysis is expected to take 3 to 4 weeks. If nothing technically unexpected occurs, during the analysis part of the project, the expansion of the system to the total EasyJet fleet of aircraft, will require 3 to 4 weeks.
This delay means that we are not expecting any substantial part of the budgeted income of this contract to influence the financial result of this year.
Market information
The recently performed 2.4 million uplinked flights in the Southwest Airlines fleet and the contract with EasyJet have increased the interest by some of the larger airlines of the world to try Aventus NowCast. Some of these are asking for an unpaid testing period. The Board of Directors of AVTECH have decided not to commit the company to any more unpaid Aventus NowCast tests. Two airlines have so far accepted this approach and are now in the negotiating stage. One of them is expected to sign a contract with AVTECH within the next 4 weeks. AVTECH seems to gradually be accepted as a competent developer and supplier of robust and practically applicable management IT tools for the aviation industry.
For more information, please contact
Christer Fehrling, CEO and Business Unit Director Aventus NowCast, +46 (0) 8 544 104 80
David Rytter, Chief Technical Officer, +46 (0) 8 544 104 80
Niklaes Persson, Business Unit Director R&D, +46 (0) 8 544 104 80
About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital Air Traffic Management (ATM). Its customers include the global aviation industry; e.g. airlines, airports, aviation authorities, technology companies and airline manufacturers. By using AVTECH’s products and services, each individual flight as well as the entire airline operation can be optimized in terms of cost, noise and emission, efficiency, punctuality and safety. The head office is in Stockholm, Sweden with subsidiaries in Toulouse, France and an associated company in Dubai, U.A.E. AVTECH Sweden AB is listed on NASDAQ OMX First North and has appointed Redeye AB, tel: +46 8 545 013 30, as Certified Adviser.
This information is information that Avtech Sweden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CEST on October 12, 2016.
