FLYHT Announces Management Changes

CALGARY, Alberta, March 15, 2018 (GLOBE NEWSWIRE) -- FLYHT Aerospace Solutions Ltd. (TSX-V:FLY) (OTCQX:FLYLF) (the “Company” or “FLYHT”) the leading provider of real-time data streaming technology that enhances the efficiency and safety of aircraft, today announced that it has made management changes at the Company.

Derek Payne has resigned from his position as Chief Financial Officer (CFO) at FLYHT effective March 16th to pursue other opportunities. Alana Forbes, CPA, CGA, has been named as his replacement, effective immediately. Derek has agreed to assist in the transition with Alana over the course of the next few weeks.

Alana has been Controller at FLYHT for the past ten years and though she will be new to the CFO position, she has the complete confidence of the Chief Executive Officer and the Board of Directors. Alana achieved her CGA designation in 2002 and during her years with the Company, she has led many special projects. These include conversion to the International Financial Reporting Standards (IFRS) in 2010, implementation of the Company’s new ERP system in 2016, and IFRS15 adoption in 2018. Prior to FLYHT, Alana was the Assistant Controller at Mentor Engineering, Inc. and before that she spent six years at Marsh Canada Ltd. in several positions, including Assistant VP Finance. Alana has a Bachelor of Commerce from Mount Allison University in New Brunswick and over 20 years of accounting experience.

“Alana has worked with several CFOs at FLYHT and has demonstrated herself ready for the position,” stated Thomas R. Schmutz, Chief Executive Officer of FLYHT. “During her tenure at FLYHT, Alana has done a remarkable job and has received accolades from auditors and other third parties we work closely with.”

FLYHT also hired Steve Newell in the position of Vice President, Business Development in January of this year. Prior to joining FLYHT, Steve was TrueNorth’s (Satcom Direct Avionics ULC) Chief Commercial Officer, responsible for leading the sales, marketing, business development and product management teams. Steve previously held executive positions as president and CEO of Mission Mobility LLC, a portfolio company of the White Oak Group and as Vice President and General Manager of LXE, the mobile computer business of EMS Technologies, prior to its acquisition by Honeywell International Inc. Steve held a variety of positions within EMS Technologies, including as Vice President of Sales for the SATCOM Division.

“I am very excited to hire someone with Steve’s industry reach to work alongside David Perez and the sales team,” Schmutz said. “Steve brings a new perspective and is helping FLYHT to engage more of our target markets.”

About FLYHT Aerospace Solutions Ltd.

FLYHT’s mission is to improve aviation safety, efficiency and profitability (located in Calgary, Canada; publicly traded as: (TSX-V:FLY) (OTCQX:FLYLF)). Airlines, leasing companies, fractional owners and original equipment manufacturers have installed the Automated Flight Information Reporting System (AFIRSTM) on their aircraft to capture, process and stream aircraft data with real-time alerts. AFIRS sends this information through satellite networks to the UpTimeTM cloud-based data center, which provides aircraft operators with direct insight into the operational status and health of their aircraft and enables them to take corrective action to maintain the highest standard of operational control.

Contact Information
FLYHT Aerospace Solutions Ltd.
Alana Forbes
Chief Financial Officer
403-291-7437
aforbes@flyht.com

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Source: FLYHT Aerospace Solutions Ltd.