AVTECH announces a one-year contract extension with Southwest Airlines for the Aventus NowCast Descent Winds service, with a contract value between 4.4 MSEK and 9.3 MSEK, dependent on nr. of flights.

AVTECH Sweden AB has extended the current Aventus NowCast Descent service agreement with Southwest Airlines until the end of June 2021. The pricing model has been changed from a fixed price to a per-flight model in support of the airline’s recovery from covid-19 induced reductions to flight schedules.

The expected contract value is between 4.4 and 9.3 MSEK, dependent on the number of flights utilizing the service.

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 is information that AVTECH Sweden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication on June 25th, 2020 at 17:15 CET.

https://www.avtech.aero/press-release-english#content

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 / Kista. AVTECH Sweden AB (publ) is listed on NASDA First North Growth Market and has appointed Redeye AB to certified adviser. Email address: certifiedadviser@redeye.se and telephone number +46 (0)8 121 576 90.

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