Business
Star Navigation Signs Letter of Intent with A.R. Airways (Club One Aviation) for ISMS(TM) Sale
Star Navigation Signs Letter of Intent with A.R. Airways (Club One Aviation) for ISMS(TM) Sale.
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\n\nTORONTO, July 26 /CNW/ - Star Navigation Systems Group Ltd. (\"Star\nNavigation\") (TSX Venture: SNA), is pleased to announce it has signed a letter\nof intent for the sale and installation of Star's flagship product, the\nISMS(TM), (In Flight Safety Monitoring System) with A.R. Airways (Club One\nAviation) of New Delhi, India.\nValue of the contract is estimated at $2.5 Million.\n\"This is a very significant win for us as it signifies Star's debut into\nthe V.I.P Jet Service market. With Business Jet deliveries having increased\nsince 1997 and with an estimated 12,800 Business Jets worldwide, this\nparticular niche opportunity for Star is simply tremendous. 2005 should prove\nto be a very exciting time for Star, our team, our costumers and all our\nshareholders.\" Reports Viraf Kapadia, Chairman and CEO.\nStar is in discussions with Airlines Operators worldwide for the sale and\ninstallation of its ISMS(TM) product.\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 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 uncertainties materialize, or\nshould assumptions underlying forward-looking statements prove incorrect,\nactual results may vary materially from those described herein as intended,\nplanned, anticipated, believed, estimated or expected. Star does not assume\nany obligation to updat...