Star Navigation Announces Sales Agreement with Swiss Aviation Group AG
Brampton, Ontario--(Newsfile Corp. - March 16, 2021) - Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company") is pleased to announce that it has signed a sales agency agreement (the "Agreement") with Swiss Aviation Group AG ("SAG") out of Switzerland.
SAG was founded in 1996. It has over 20 years experience in Airline Start-ups, Turn Arounds and Airport Management Support. It's activities has since expanded into the preparation of Air Operator Certificates, managing of and consulting for airport projects, the charter, lease and sales of jet transport passenger and cargo aircraft, the development of Business Plans, preparation of Feasibility Studies as well as restructuring and turnaround of airline companies.
Under the Agreement, SAG will have exclusive rights to sell the STAR A.D.S. system to several airlines globally. The agreement is for a one (1) year term and can be extended by mutual consent of both parties. SAG has committed in the Agreement to selling at least 35 STAR A.D.S. units to their customer airlines in the first year of the agreement. However, Star is confident and hopeful that SAG would be able to sell more than the minimum amount of Star units due to their exposure and influence in the airline industry.
Mr. Amir Bhatti, Chief Executive Officer of Star Navigation said: "We are extremely excited to have SAG as our preferred partner in the marketing & sales of Star A.D.S. system and services to SAG's existing customer base. SAG's extensive experience and contacts will provide limitless opportunities to further Star's future exponential growth. With the world-wide COVID-19 vaccination progressing well, passenger traffic and air cargo traffic are gradually coming back to pre-COVID-19 levels which are positive indicators for Star and SAG to work together for mutual growth. The aircraft leasing experience on ACMI - (aircraft crew maintenance insurance) and AMI - (aircraft maintenance and insurance) by SAG and their well-embedded relationship with airlines worldwide is of enormous potential for Star to equip those aircraft with Star A.D.S. solution and services already built-in before the aircraft are delivered to end-user airlines whether it is for passenger traffic or carrying cargo operations. SAG has extreme visibility globally in all the major airlines for flight operations management."
Mr. Malte Dollinger, Chief Executive Officer of Swiss Aviation Group said: "We are very impressed with Star ADS technology which has huge potential in the aviation industry. We feel that this technology will enable us to provide value-added services to our customer airlines globally."
The Star and SAG agreement is surely going to bring huge business growth for both companies.
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 MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.
Certain statements contained in this release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will", "expected", "intend" and similar expressions, as they relate to Star or its management or board 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.
The risks posed by the COVID-19 pandemic are real and substantial but cannot be defined or measured in any meaningful way at this time.
Many other 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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