AVTECH announces a business update
Finally, the worst of the COVID-19 crisis may be behind us and we are now seeing signs that air traffic development in the future is positive. The conditions, in part thanks to the availability of vaccines, now seem to be good for increased flying over the next six months. AVTECH's revenues have increased slightly in the first few months of the year and we now predict continued increased sales as air traffic recovers.
The North American market already shows traffic figures of between 85-110% of 2019 traffic, while Europe, which is lagging behind with vaccinations, is still at a low level with many European airlines flying no more than 10-20% compared to 2019. However, according to Eurocontrol's long-term, optimistic forecast, traffic could return to around 90% next year.
"An increased booking situation for the summer and autumn means that we now finally dare to believe that we are at the beginning of a return. We look forward to returning to and passing a quarterly turnover equivalent to Q1 2020, where AVTECH reported a positive result", said David Rytter, CEO.
AVTECH's portfolio of services that reduce environmental impact and fuel consumption without requiring investment in new hardware is now becoming particularly interesting for all those airlines that want to emerge from the crisis with a better environmental profile and more efficient operation. In April, another airline was added to the queue to implement and test AVTECH's ClearPath solution.
With most of the existing contracts related to customers' current traffic volume, AVTECH's turnover increases with increased air traffic. As the crisis and travel restrictions subside, we are now well positioned to grow and deliver services that increase efficiency and comfort and reduce emissions from each individual flight.
Produkt portfolio 2021
AVTECH's range of services is continuously evolving and today consists of complete services in optimization, streamlining and weather warnings adapted for each individual flight from takeoff to landing. All services in AVTECH's product portfolio are easy for the customer to implement and can be combined as desired.
All services use unique high-resolution weather data from the UK Met Office with unparalleled accuracy that reduces the error between actual and forecast winds to a minimum.
Accurate weather data that optimizes each flight
Aventus is a world-leading automated weather uplink service that, by delivering optimized data to the aircraft's computer, saves fuel and improves the accuracy of each individual flight. The service is available for all phases of the flight; climb, cruise and descent.
Tactical optimization of each flight on a whole new level
ClearPath is a ground-based service that communicates with the aircraft in real time and calculates the truly cost-optimal flight profile of each flight based on the actual performance values of the aircraft and the current atmosphere. By following the optimal flight profile, pilots can fly more cost-effective and directly reduce fuel consumption and the environmental impact of each flight.
More comfortable flight avoiding turbulence and severe weather
SIGMA is an automatic service that presents precise turbulence data and weather risks (icing, thunderstorms, volcanic ash, etc.) to the pilots in real time during flight. Based on up-to-date information on turbulence and other weather risks, flight crew can make qualified tactical decisions to avoid discomfort, damage and expensive aircraft maintenance checks.
Decision support during and before the flight
ProFlight is a unique visual flight weather and optimization tool for use of the professional pilot. The easy-to-use EFB app provides the pilot with real-time decision support by combining several of AVTECH's services into a visual interface, available before flight and in flight. The included data layers come from well-known providers such as the UK Met Office, NOAA, IATA and WXfusion.
For more information, please contact
Bo Redeborn, Chairman of the board +46 (0) 8 544 104 80
David Rytter, CEO, +46 (0) 8 544 104 80
This information was submitted through the above contact person’s provision for publication on May 17, 2021 at 16:15 CET.
About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital air traffic control systems. Customers are the aviation industry's various players such as airlines, airports, aviation, technology companies and aircraft manufacturers. With the help of the company's products and services, each individual flight or the entire flight operation can be optimized in terms of economy, noise and emissions, efficiency, punctuality and safety. The head office is in Stockholm. AVTECH Sweden AB (publ) is listed on NASDAQ First North Growth Market and has appointed Redeye AB to certified adviser. Email address: email@example.com and telephone number +46 (0)8 121 576 90.