Star Announces Letter of intent "LOI" with Aero Contractors for the STAR-ISMS (In-Flight Safety Monitoring Systems) for 10 Aircraft in Nigeria
Brampton, Ontario--(Newsfile Corp. - December 5, 2022) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") is pleased to announce it has signed a Letter of Intent ("LOI") with Aero Contractors Company of Nigeria Limited ("Aero") to purchase Ten (10) units of the STAR-ISMS®. (In-Flight Safety Monitoring System), with Options for the remainder of their fleet.
Aero is a state-controlled Nigerian airline company based at Murtala Muhammed Domestic Airport in Ikeja, Lagos State, Nigeria. They are one of West Africa's oldest and well-respected Aviation Companies. They operate scheduled commercial and helicopter services. From inception they have played a key role in the oil and gas sector in Nigeria. They provide services in the rotary wing (helicopter) offshore oil and gas sector as well as the fixed wing scheduled and charter passenger services.
Aero Maintenance Repair Overhaul ("Aero MRO") is positioned to deliver the best customer service, with the best global practice to become a technical partner of choice.
Aero is uniquely placed in the Nigerian market to offer both rotary and fixed wing services of the highest international standards of quality and safety as the leading innovative carrier in West Africa. They are focused on bringing customers world class aviation services with the best fares, quality on-board services and customer relations with effective online services and operational competence. Aero prides itself on its punctuality and immense safety service for its clients and passengers.
Aero offers the following services;
- Rotary Wing Helicopter fleet include the AS365 Dauphin and Agusta AW 139 and provides services for:
- - Oil & Gas, Aviation and Logistic Support Services
- - Emergency Medical Evacuation Services (EMES)
- - VIP & Personnel Movement - Civilian helicopter charter services
- - Third Party Helicopter Maintenance, Operation and Management Services
- Fixed Wing Aircrafts include a fleet of B-737 - 300/400/500 series and the DASH 8 - 300/400 series which provide regular scheduled flight operations
- Maintenance Repair and Overhaul (MRO)
- Aviation Training Organisation (ATO) - Aero Training school
Capt. Ado Sanusi CEO, Aero Contractors Nigeria, stated: "Implementing the STAR-ISMS®, will enhance Aero's commitment to the highest Standards of Safety and Reliability to its clients and customers." The STAR-ISMS® extracts big data from all aircraft systems, and through Scientific Data Analytics, Machine Learning and Artificial Intelligence Technology, can produce Real-Time Aircraft Health Monitoring, Incident/Accident Predictive and Preventative measures.
Additionally, although Aero's Operations may not fall within the upcoming ICAO Mandated GADSS (Global Aeronautical Distress Safety Systems) requirements, it is investing in this highest Technological Precision Tracking capability that the Star-ISMS also provides.
Mr. Charles Grant, CFO of Aero Contractors Nigeria, stated: "The STAR-ISMS® will provide an immediate Return on Investment and dramatic Airline Cost-Savings, through reduced/preventative Aircraft on Ground events, more accurate analytical Fuel consumption analysis and savings and Aircraft Insurance Credits all the while maintaining the highest level of Safe Operations to date."
Capt. Jonathan Kordich, Executive VP of Sales of Star, stated: "It is critical for Airlines to modernize their fleets with Aircraft Health Monitoring Systems such as the STAR-ISMS®. The initiative Aero has undertaken will not only provide the highest Safety Standard and Efficiency for the general flying public but will also expand their business horizons by implementing this Advanced Intelligent Technology within their operating fleet."
About Star Navigation Systems www.star-navigation.com
Star Navigation Systems Group Ltd. manufactures the In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S.® System. The STAR-A.D.S.® System has real-time capability of tracking, performance trends and predicting incident-occurrences which enhances aviation safety and improves fleet management while reducing costs for the operator. Star's MMI Division (Military and Defence) designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.
About Aero Contractors www.flyaero.com
Headquartered in Lagos, Nigeria, Aero operates a combined fleet of 3 helicopters and 10 fixed-wing aircraft which range from the 50 seat Dash 8-300 to the 140 seat Boeing 737-400/500. They employ around 700 personnel. Aero has received many accolades for their scheduled operations, consistently offering the most reliable services and best value fares while introducing new initiatives into the local market to empower more people to fly more frequently. With its excellent safety record, Aero has shown that it consistently invests in the safety and security of its customers, equipment, operations and staff.
Forward Looking Information
Certain statements in this news release may constitute "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that Star expects or anticipates may occur in the future.
When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements.
Forward-looking statements reflect the current expectations and beliefs of Star's management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Star or the industry may be materially different from those implied by such forward-looking statements.
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Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers and the success of the business of our partners. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved.
The risks posed by the COVID-19 pandemic to the airline industry are real and substantial but cannot be defined or measured in any meaningful way at this time.
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.
Accordingly, readers should exercise caution in relying upon forward-looking statements and Star undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
NEITHER CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Please visit www.star-navigation.com or contact
Capt. Jonathan Kordich, Executive Vice President at 1-705-434-0058
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146738