Business
Star Navigation signs another M.O.U for entire fleet of Aircraft
Star Navigation signs another M.O.U for entire fleet of Aircraft.
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Nov. 30 /CNW/ - Star Navigation Systems Group Ltd. (\"Star\nNavigation\") (TSX.V: SNA) is pleased to announce the signing of a Memorandum\nof Understanding, 'M.O.U', for the sale and installation of Star Navigation's\nflagship product, the In-flight Safety Monitoring System - 'ISMS(TM)' to an\nundisclosed Purchaser located in the Middle East. For reasons of\nconfidentiality, the Purchaser cannot be publicly disclosed. A formalized\ncontract is to be concluded on or about January 23, 2006, the value of which\nis estimated to be USD $1.5 million at list prices.\nThe ISMS(TM) is the first system in the world to feature in-flight data\nmonitoring and diagnostics with a real-time, secure connection between\naircraft and the ground, made possible through current technology and\nsatellite transmission.\n\"This is another great win for us, and represents the second direct\nM.O.U. signed as a result of our participation at the Dubai Air Show. In\nDubai, it was very evident that our patented In-flight Safety Monitoring\nSystem continues to impress and interest both major airline operators and\nmanufacturers worldwide. The unprecedented attention our company and product\nreceived was simply overwhelming, making the event a great success for us. We\nexpect to report continued progress in the coming weeks ahead,\" reports Viraf\nKapadia, Chairman and CEO.\n\nAbout Star Navigation...\n\nStar Navigation Systems Group Ltd. (www.star-navigation.com) owns the\nworldwide license to a product without peer, its proprietary, patented \nIn-flight Safety Monitoring System - ISMS(TM), the first system in the world\nto feature in-flight data-analysis, -monitoring and -diagnostics with a \nreal-time connection between aircraft and ground. Its real-time capability of\ntracking performance-trends and predicting incident-occurrence enhances\naviation safety and improves fleet management while reducing costs for the\noperator.\n\nCertain statements contained in this News Release constitute \nforward-looking statements. When used in this document, the words \"may\",\n\"would\", \"could\", \"will\" and similar expressions, as they relate to Star or\nits management are intended to identify forward-looking statements. Such\nstatements reflect Star's current views with respect to future events and are\nsubject to certain risks, uncertainties and...