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Brampton, Ontario--(Newsfile Corp. - January 19, 2022) - Star Navigation Systems Group Ltd. (CSE: SNA) ("Star" or the "Company") is pleased to announce that it has signed a Partnership agreement with FlightPath International SA Ltd. ("FPI").
This partnership enables FPI to train Worldwide Airlines & Operators including Pilots, Engineers, Flight Operations Officers on Star's Flight Sciences Services and Technologies. These services and technologies range from helping Airlines implement the mandatory International Civil Aviation Organization's ("ICAO") Global Aeronautical Distress Safety System program ("GADSS") coming in January 2023, to Autonomous Aircraft Tracking, Flight Operations Performance and Predictive Maintenance Protocols. The agreement calls for a commission of 15% to be paid to FPI on all materials sold and Star will be entitled to a commission of 15% from all training revenues associated with the sale and distribution of materials. The term of the agreement is five (5) years with an option for a second term of five (5) years upon agreement by both parties.
"This is an important step for Star as we launch our new Star A.D.S ® Training Services," says Amir Bhatti, CEO at Star. "The FPI Partnership helps us open several new doors to showcase our products as the global airline industry starts to recover from the COVID-19 pandemic. Airlines need our technologies to ensure compliance with ICAO flight tracking requirements by January 2023 and to optimize aircraft performance.
With FPI's successful track record in Airline training and its global footprint with offices in 8 countries around the world, Star now has the ability to train new and prospective customers in best practices training standards."
The benefits of this new partnership include:
FPI offers its customers access to and training in industry leading flight operation metrics.
Star accesses 160 new potential customers that can benefit from its technologies as a result of joint marketing efforts.
Customers acquire a rapid path to ICAO-GADDS compliance well before the mandated January 2023 deadline and therefore can better plan their training needs.
Since its inception more than 18 years ago, FPI has earned a trusted reputation in the aviation industry by providing the highest standard of Original Equipment Manufacturer ("OEM") training, and customer service. Star and FPI have come together and we can now provide a remarkable service that will bring operating costs down for airlines, as well as develop an even higher standard of safety to our customer's operations", says Andrew Lucas, CEO at FPI.
In addition to the Quality Training that our customers have come to know with FPI, the addition of Star's products and services adds new dimensions for Flight Following, Technical Readiness, Environmental Optimization, reduced "Unexpected" Aircraft on Ground downtime, Improved Efficiency and Standardization and Safety in Flight Operations. These attributes provide real and substantial cost savings as well as environmental benefits.
About Star Navigation:
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 FlightPath International:
Founded in 2003, FlightPath International, a Canadian based company, is a leading provider of Training and Operational Support services for the commercial airline industry worldwide. FlightPath offers Technical, Pilot, Multi-Crew Pilot Licensing, Cabin and Dispatcher training, with aircraft types that include Airbus, Boeing, Bombardier, De Havilland, and Embraer, serving over 160 Operators in over 60 Countries.
Certain statements contained in this Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will", "expected", "intend" and similar expressions, as they relate to Star or its management or board are intended to identify forward-looking statements. Such statements reflect Star's current views with respect to future events and are subject to certain risks, uncertainties and assumptions.
The risks posed by the COVID-19 pandemic are real and substantial but cannot be defined or measured in any meaningful way at this time. Many other factors could cause Star's actual performance or achievements to vary from those described herein. 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. Star does not assume any obligation to update these forward-looking statements, except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110797