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AeroMechanical Services signs deal with NetJets

March 27, 2012, Calgary – AeroMechanical Services Ltd. has signed a US$6-million agreement with business jet operator NetJets Europe to provide upgraded automated flight information reporting systems for 30 aircraft.


March 27, 2012
By Melissa Damota

March 27, 2012, Calgary – AeroMechanical Services Ltd. has signed a US$6-million
agreement with business jet operator NetJets Europe to provide
upgraded automated flight information reporting systems for 30
aircraft.

The Calgary-based flight technology firm said it will install its
AFIRS system on Hawker Beechcraft aircraft as part of the five-year
contract.

The systems reduce fuel consumption and will help NetJets, the
largest business jet operator in Europe, to meet its goal of
reducing emissions.

AFIRS provides real-time data from the aircraft fleet, enhanced
flight data monitoring and fuel management. Its FLYHStream position
and data streaming provides enhanced troubleshooting and emergency
management.

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"NetJets Europe is the European leader in business aviation and
we are proud to have met their standards and expectations through
our collaborative in-service evaluation," said AMA chief executive
Bill Tempany.

System installations will begin in April and be activated upon
receipt of all necessary certifications.

AMA (TSXV:AMA) will initially receive US$1 million to US$2
million over the first few months of the contract and payments for
recurring revenue services as incurred.

The total value of the contract does not include optional
upgrades and services, the company said.

The total contract could exceed US$6 million but NetJets has
asked that the exact value not be disclosed.

AMA and NetJets Europe have conducted an in-service evaluation of
the company's various services since September 2009, AMA's first
business jet installation.

The updated AFIRS system that will be installed will provide
compliance with Europe's new air traffic control regulations set to
come into force in February 2015.

NetJets Europe, financially backed by Warren Buffett's Berkshire
Hathaway, operates 150 aircraft.