Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA) ("Star" or the "Company") is pleased to announce it has received a purchase order for its Star A.D.S ® system from Swiss Aviation Group AG ("SAG"). The purchase order consists of nine (9) Star A.D.S ® 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 fitted with the Star A.D.S ® starts in June 2022 and should be completed in December 2022. Star plans to start preliminary inspections on the initial two aircraft in France at the end of April 2022.
The purchase order is conditional on two factors: successful aircraft lease financing and regulatory approval from local Civil Aviation Authorities regarding the Supplemental Type Certificates needed for each aircraft.
Mr. Amir Bhatti, Chief Executive Officer of Star said: "We are excited to have SAG complete its first Star A.D.S ® sale. This is a start for four airlines to whom they are leasing aircraft. It is a great success for both Star and SAG and proves that despite tough operating conditions, both lessors and operators see the Star A.D.S ® as a solution to optimize operations.
"Star has worked hard to showcase its Star A.D.S ® system while the commercial aviation industry endured the Covid-19 pandemic, and with another wave of Covid-19 emerging in China and now the Ukraine conflict, it has been a struggle for Star. The industry works with wafer-thin margins and therefore requires every technological enhancement to reduce business risk.
"With Covid lockdowns ending around the world, airlines are seeing a pent-up demand for travel. This is especially the case for business travel where video conference meetings replaced face-to-face customer meetings for the past two years. Recovery of the air travel industry requires reducing the burdens of flying for customers during Covid and optimizing flight operations. Star's A.D.S ® provides this and we are ready and eager to prove it."
Mr. Malte Dollinger, Chief Executive Officer of Swiss Aviation Group said: "We are very pleased that our present airline clients are following our recommendation to install the Star A.D.S ® system in most of the aircraft we will deliver in the course of 2022.
"Having been able to present and demonstrate the superior capabilities and scope of the Star A.D.S ® system in comparison to competing products in the market we are confident our airline clients will benefit in numerous ways in their day to day operations, especially in the areas of fuel optimization, reduction in engine and airframe maintenance costs, better flight tracking, higher safety and end of flight reports.
"Having been entrusted and supported by Star in marketing their product to our airline clients world-wide since 2021, we foresee further opportunities now developing steadily with more of our airline clients in the coming years."
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.