Brampton, Ontario--(Newsfile Corp. - June 13, 2022) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") is pleased to announce the signing of a Sales Agreement with Astral Aviation of Kenya ("Astral") to purchase seven (7) units of the STAR-ISMS®. (In-Flight Safety Monitoring System) for seven (7) of its Cargo fleet, with an option of a further 3 aircraft within the next 12 months. The total value of the contract is USD1.2M over the 5-year term for the 7 aircraft. Star will receive a deposit totalling $40,000 USD on the order over the next four months.
Astral is a member of the Africa Airlines Association (AFRAA), The International Air Cargo Association (TIACA) and the Kenya National Chamber of Commerce & Industry (KNCCI).
Astral is a licensed cargo airline flying in Africa for 22 years. Astral provides reliable and cost-effective air-freight solutions using a combination of scheduled and charter flights along with leasing services within its Intra-African, Middle East, Asian and European Network.
Astral operates a fleet of a variety of aircraft within its Intra-African, Middle East, Asian and European network which is comprised of 50 destinations. It has agreements with over 30 Interline Partners, along with preferential agreements with the leading global and local freight forwarders. It also has partnerships with over 25 Global General Sales Agents ("GSA"), to facilitate the consolidation of cargoes at the freighter-friendly Jomo Kenyatta International Airport (Kenya), Johannesburg (South Africa), Dubai (UAE) and Liege Airport (Belgium).
Mr. Amir Bhatti, Chief Executive Officer of Star said: "This Astral Aviation sale is a testament of consistent marketing and sales efforts from the Star sales team. The Star Engineering team is already in Nairobi inspecting the Astral Aviation aircraft. Star has initiated work towards obtaining Supplemental Type Certificates ("STC") for the B767, B757, B727 and DC9 aircraft with Astral Engineering and Flight Operations. These efforts will increase the STC base of Star for future sales of these types to other airlines. We are excited to have this opportunity to work with the Astral Team and providing them with a solution to improve safety and optimize their aircraft operations with enhanced situational awareness."
Mr. Mike Mutahi, Chief Operating Officer of Astral Aviation said: "Integrating our flight operations with the Star system will provide Astral operations new dimensions in optimizing our efforts in sustainable growth. From flight safety to engineering and maintenance to flight operations and dispatch, the Star system has the ability to provide deep and meaningful business intelligence through flight data analytics. This will help us in the long term to further optimize our operations and provide opportunities on a real time basis. This information and analysis is considered essential and crucial for all integrated operations."
About Star Navigation Systems www.star-navigation.com
Star Navigation Systems Group Ltd. manufactures the In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S.® System. The STAR-A.D.S.® System has real-time capability of tracking, performance trends and predicting incident-occurrences which enhances aviation safety and improves fleet management while reducing costs for the operator. Star's MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.
About Astral Aviation www.astral-aviation.com
Astral aviation is a cargo airline based in Nairobi, Kenya. It was established in November 2000 and started operations in January 2001. It operates scheduled and non-scheduled ad-hoc cargo charters to regional destinations in Africa and to Liege in Belgium.
Certain statements in this news release may constitute "forward-looking statements." Forward-looking statements are statements that address or discuss activities, events or developments that Star expects or anticipates may occur in the future. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends" "should", "could", "may" and other similar terminology 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, actual results, performance or achievements of Star or the industry may be materially different from those implied by such forward-looking statements.
Examples of such forward-looking information that may be contained in this news release include statements regarding; growth and future prospects of our business; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; expectations regarding the operation of our app; and our future revenues.
Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers and the success of the business of our partners. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved.
The risks posed by the COVID-19 pandemic to the airline industry are real and substantial but cannot be defined or measured in any meaningful way at this time.
Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Accordingly, readers should exercise caution in relying upon forward-looking statements and Star undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
NEITHER CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Please visit www.star-navigation.com or contact
Mr. Amir Bhatti, CEO at 1-416-252-2889 #230
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