TORONTO, July 27 /CNW/ - Star Navigation Systems Group Ltd. ("Star
Navigation") (TSX Venture: SNA), is pleased to announce it has received formal
notification from SpiceJet Airways of India for Star Navigation to accelerate
the Sale and Installation of the ISMS(TM) product on all SpiceJet commercial
passenger aircraft.
Star Navigation has signed a $9.0M contract with SpiceJet of India that
originally was to be complete within a period of 36 to 42 months. SpiceJet has
notified Star to accelerate the installation of the ISMS(TM) on SpiceJet's
entire fleet of commercial passenger aircraft to now be within a period of 18
to 24 months.
"We are delighted at SpiceJet's request to accelerate the installation of
our product. We see it as a very clear indication of the traction and
continued momentum we are experiencing." Reports Viraf Kapadia, Chairman and
CEO.
Star is in discussions throughout the world with multiple airline
operators for the sale and installation of its ISMS(TM) product.
About Star Navigation...
Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the
worldwide license to a product without peer, its proprietary, patented In-
flight Safety Monitoring System - ISMS(TM), the first system in the world to
feature in-flight data-analysis, -monitoring and -diagnostics with a real-time
connection between aircraft and ground. Its real-time capability of tracking
performance-trends and predicting incident-occurrence enhances aviation safety
and improves fleet management while reducing costs for the operator.
Certain statements contained in this News Release constitute forward-
looking statements. When used in this document, the words "may", "would",
"could", "will" and similar expressions, as they relate to Star or its
management are intended to identify forward-looking statements. Such
statements reflect Star's current views with respect to future events and are
subject to certain risks, uncertainties and assumptions. Many factors could
cause Star's actual performance or achievements to vary from those described
herein. Should one or more of these factors or uncertainties materialize, or
should assumptions underlying forward-looking statements prove incorrect,
actual results may vary materially from those described herein as intended,
planned, anticipated, believed, estimated or expected. Star does not assume
any obligation to update these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
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