Business
Star Navigation signs formal contract for Bexair's entire Aircraft Fleet
Star Navigation signs formal contract for Bexair's entire Aircraft Fleet.
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Nov. 29 /CNW/ - Star Navigation Systems Group Ltd. (\"Star\nNavigation\") (TSX.V: SNA) is pleased to announce it has signed the formal\ncontract between Bexair and Star Navigation for the sale and installation of\nStar's flagship product, the In-flight Safety Monitoring System, the ISMS(TM),\nfor Bexair's entire fleet of aircraft. The formalized contract has an\nestimated value of 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 ground, made possible through current technology and satellite\ntransmission.\n\"Having just commenced commercial sales this spring, we are very pleased\nto have Bexair as Star's third deal bringing the total value of Star's signed\ncontracts to date at an estimated USD $13 Million at list prices. The speed in\nwhich this particular M.O.U translated into a firm and binding contract is yet\nagain another indication of the tremendous demand and traction the ISMS(TM) is\nreceiving industry wide.\" Reports Viraf Kapadia, Chairman and CEO. \"We are\nvery pleased with our success and wish to thank all of our dedicated staff.\"\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 forward-\nlooking statements. When used in this document, the words \"may\", \"would\",\n\"could\", \"will\" and similar expressions, as they relate to Star or its\nmanagement 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 assumptions. Many factors could\ncause Star's actual performance or achievements to vary from those described\nherein. Should one or more of these factors or u...