The new release greatly expands the number of aircraft which are able to use the optimized wind selection. This is achieved by use of the AVTECH developed Trajectory Engine for aircraft with whom the communication is limited. In the past weeks AVTECH has been able to implement the new version of software which is presently now interacting with aircraft.
We have been engineering simplicity into the version of Aventus brought to the Airline industry. It is very easy to use and administrate from a customer point of view, with a common standard airline communication interface at the customer side, much like a smart phone App.
The significance of these two contracts goes beyond the individual contracts as it demonstrates that AVTECH is now starting to build a customer base with the pace of signing customers is increasing from the major carrier in the Middle East that was signed in June and the one in Asia-Pacific in October. The goal has been 6 signed contracts by the end of the year, and with today’s announcement we are on plan to meet our goal.
Signing the Memorandum of Understanding with NATS is a very important step for AVTECH. NATS is the premier Air Navigation Service Provider in the world with a strong focus on commercial activities, and an international growth-plan that goes hand-in-hand with AVTECH’s. The MoU was preceded by in-depth discussions on the compatibility between the two companies’ products, technical know-how and capabilities. The joint understanding is that the companies have all the prerequisites to supplement and support each other well in a number of areas.
Previously, another airline in the Middle East has already begun implementing, and thereby solving the challenges of, Time Based Operations (TBO) using the Aventus NowCast™ system. Time Based Operations (TBO) is a key step in the implementation of Performance Based Operations (PBO), which opens up new possibilities to operate aircraft more efficiently than done today.
Addressing wake vortex is a key issue for airports around the world due to the effects on capacity and safety. AVTECH has invested in developing systems that can contribute to address these issues. The grant that we received from VINNOVA, Sweden’s Governmental Innovation Agency, in April 2012, has been of great assistance as we have ramped up the product development and validation ahead of these projects.
Digital data and systems can improve air transportation for the passengers making it more predictable as well as reducing the amount of fuel used resulting in less emissions and noise. Working with Flightradar24 will enable us to step away from traditional radar data as it opens the market and very much simplifies the whole process. We are both digital companies with strong software developments skills and knowledge of the air transport system”, states Anders Palm, Director of R&D at AVTECH.
This is an opportunity for the Middle East region, in our view the most exciting aviation region in the world. With the establishment of our PBO academy we are now able to spread our knowledge of Performance Based Operations (PBO) even further to all the major stakeholders of the region.
“As we are now witnessing the implementation of Time Based Operations (TBO) in the Middle East with Emirates Airlines in Dubai and progressively in Europe 2013 through the SESAR project, the operational benefits and the commercial value of AventusNowcast™ will increase accordingly”, says Lars GV Lindberg, CEO at AVTECH Middle East LLC.
We are very pleased that Emirates Airlines have chosen to work with AVTECH on this project implementing Time Based Operations. The high growth rate and need capacity and throughput but also operational efficiency and predictability are driving the developments in Dubai and UAE. This is the first step to Performance Based Operations, where the airline contributes directly to deliver an organized flow by using current available systems.
It is most gratifying that VINNOVA hereby is confirming the importance of this particular area of research, which indeed has excellent commercial potential. This economic funding enables our growth through continued recruitment of researchers and thus also results in research and development work which is of great interest to our customers. Our company can now take the next step and maintain the high R&D level for solutions in view of the upcoming Performance Based Air Traffic Management System.
We are very much looking forward to attending this year’s ATM conference at ATC Global and thereby engage in interesting and productive discussions in the newly formed consortia as well as meeting with potential customers and collaborators with the purpose of expanding our business. The exhibition is an excellent venue and meeting place in view of networking opportunities, sharing industry knowledge and generally in associating with other main figures of the international ATM community.
We are very pleased to be able to announce that in the first day of trading the AVTECH share price rose from the original price of 6,00 SEK and closed at 7,00 SEK, thus up 16,7% from our IPO last November. We are now looking forward to leveraging our listing in order to expand the ownership of AVTECH to an international investor audience and thus support continued expansion of our operations.
Our listing on NASDAQ OMX First North constitutes an important stepping stone forward for AVTECH in achieving our goals by: - increasing confidence in potential customers and partners of our level of being a professional managed company with good financial controls, and - increased access to the financial markets as we continue our growth, says David Alvord, CEO.
AVTECH Sweden AB is currently in the midst of a very exciting growth phase and we are all looking forward to our listing on NASDAQ OMX First North, expected later in February. With their combined experience from listed companies and international business operations, our new team members will be a crucial contribution in this process, says David Alvord, CEO. If the global aviation industry is to keep up with its current growth rate, implementing high performing Air Traffic Management systems, such as AVTECH’s product, Aventus NowCast™, is of crucial importance. The coming year will require targeted efforts and special competence from our team in enabling our company to take the necessary steps conducive to growth and increasing profitability, says Alvord.