Star Navigation Completes Sale of Five STAR-A.D.S.® Systems To AlMasria Universal Airlines
TORONTO, Nov. 13, 2018 (GLOBE NEWSWIRE) — Star Navigation Systems Group Ltd. (CSE: SNA) (CSE:SNA.CN) (OTCQB: SNAVF) (“Star” or the “Company”) is pleased to announce that AlMasria Universal Airlines (“AlMasria”) of Egypt has decided to proceed with the installation and activation of the STAR-A.D.S.® System across all five (5) of its current aircraft fleet, which includes A-320, A-321, A330 and B737 aircraft.
The terms of the original procurement agreements dating back to late 2013 and 2015 have been revised and expanded to meet the changed needs of the airline. With AlMasria expansion plans already underway with the addition of more aircraft and routes, the new Agreement includes a provision to accommodate future additions to their fleet.
STAR-A.D.S.® PROVIDES ALMASRIA WITH OPERATIONAL COST EFFICIENCIES AND COMPLIANCE WITH UPCOMING INTERNATIONAL CIVIL AVIATION RECOMMENDATIONS
The STAR-A.D.S.® System will help AlMasria achieve important operational cost efficiencies to pursue its growth plans, as well as immediately meet the most recent recommendations of the International Civil Aviation Organization (“ICAO”) concerning the Global Aeronautical Distress and Safety System (“GADSS”). Specifically, ICAO has recommended that, as of November 2018, airlines should report flight positions every 15 minutes over oceanic areas and, as of January 2021, there should be autonomous location and tracking of aircraft in distress at least once every minute.
The STAR-A.D.S.® System already exceeds compliance with all of the ICAO GADSS recommendations and evolutions planned from 2018 to 2021 and beyond. (See Star Press release of June 11, 2018 for expanded discussion and details).
Viraf Kapadia, CEO of Star Navigation Systems said:
“Completion of this sale to AlMasria covering their entire fleet will allow us to deploy our tracking and monitoring solutions on the most popular commercial aircraft in a competitive region of the world. We have already worked out the validation process of our Transport Canada STC’s by the local authorities (ECAA) and we are ready to fast track the implementation of our solution. The full benefits of our STAR-A.D.S.® System, from immediate compliance with the coming navigation tracking and reporting rules, to operational cost savings, will help AlMasria gain a competitive edge in a rapidly evolving market.”
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About Star Navigation:
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S.® System. 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.
Star’s M.M.I. Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide. These displays are found on aircraft and simulators, from P-3 Orion and C-130 aircraft, to Sikorsky and AgustaWestland helicopters, as examples.
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words “may”, “would”, “could”, “will”, “expected” 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, except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
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Roger S. Peacock, (416) 252-2889 Ext. 225