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Star Navigation Systems Group Ltd
Symbol SNA
Shares Issued 982,828,693
Close 2024-01-30 C$ 0.02
Market Cap C$ 19,656,574
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Star Navigation signs JV with FlightPath International

2024-01-30 10:52 ET - News Release

Mr. Randy Koroll reports

STAR NAVIGATION ANNOUNCES NEW JOINT VENTURE AGREEMENT WITH FLIGHTPATH

Star Navigation Systems Group Ltd. has signed a new joint venture agreement with FlightPath International for five years for the purposes of managing Star's aviation division which will include leading sales initiatives and training future customers on leveraging maximum business insights from the Star A.D.S. products and data services.

This agreement between Star and FPI includes both cost-sharing and profit-sharing components between the two companies.

FPI is a reputable leader in the aviation industry providing the highest standard of original equipment manufacturer (OEM) training and customer service for over 20 years. Star looks to leverage FPI's relationships with its customers and benefit from this new integrated partnership by accessing over 160 new FPI customers, maintenance, repair and operations, and original equipment manufacturer relationships, and offering Star A.D.S. solutions to new potential customers and existing FPI customers in autonomous aircraft tracking, aircraft in distress tracking along with backward and forward DFDR recordings, flight operations performance, predictive maintenance, and safety protocols

"This is a huge step for Star as it will benefit the company with cost savings on both labour and travel and also gives Star a share of profits," says Gurdip Panaich, chairman of the board at Star.

Andrew Lucas, chief executive officer of FPI, stated that "since FlightPath's inception more than 20 years ago, it has earned a trusted reputation in the aviation industry by providing the highest standard of training, and customer service. Star and FlightPath have come together under this joint venture, and we are in better position to provide further remarkable services that will bring operating costs down for airlines, as well as develop an even higher standard of safety to our customers' operations. I am truly motivated that together, we can provide an exponential service to airlines worldwide."

With the signing of this joint venture agreement, Mr. Lucas has assumed the president role of the Star Aviation division while Anoop Brar has stepped down and become Star Navigation's chief technical officer effective immediately.

About Star Navigation Systems Group Ltd.

Star Navigation Systems Group 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 designs and manufactures high-performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.

About FlightPath International

Founded in 2003, FlightPath International, a Canadian-based company, is a leading provider of training and operational support services for the commercial airline industry worldwide. FlightPath offers technical, pilot and multicrew pilot licensing, cabin and dispatcher training, with aircraft types that include Airbus, Boeing, Bombardier, De Havilland and Embraer. It serves over 160 operators in over 60 countries.

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