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Flyht Aerospace Solutions Ltd (2)
Symbol FLY
Shares Issued 26,041,137
Close 2020-06-30 C$ 0.55
Recent Sedar Documents

Flyht sued by ex-CEO Schmutz over termination

2020-06-30 18:35 ET - News Release

Ms. Alana Forbes reports

FLYHT ANNOUNCES RECEIPT OF STATEMENT OF CLAIM

Flyht Aerospace Solutions Ltd. has received a statement of claim from Thomas R. Schmutz (former chief executive officer of Flyht) in the amount of $525,000 in relation to the termination of his employment with the company (previously announced June 8, 2020). More details will be announced by the company in due course, including further actions from Flyht in relation to these matters.

The matters raised in the lawsuit are considered by the company to be unfounded and unproven allegations that will be vigorously defended. Although no assurances can be given with respect to the outcome of such proceedings, the company believes it has valid defences to this claim and, accordingly, has not recorded any related liability at this time.

About Flyht Aerospace Solutions Ltd.

Flyht improves aviation safety, efficiency and profitability by providing airlines, leasing companies, owners, operators and original equipment manufacturers with real-time insights into how their aircraft are performing. The company's products include AFIRS (automated flight information reporting system), and a satellite communications (Satcom) aircraft interface device (AID), which enables real-time streaming of flight information, aircraft tracking and health monitoring, fuel management, and black box data streaming, as well as TAMDAR (tropospheric airborne meteorological data reporting), which aggregates and streams airborne weather data in real time.

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