Star Navigation Provides Status Update on Business Lines
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 10/05/15 -- Star Navigation Systems Group Ltd. (TSX VENTURE: SNA) (OTCBB: SNAVF) ("Star" or the "Company") is pleased to provide a status update on its two main business lines:
- The STAR-A.D.S. ™ System for commercial airlines and operators. The System is a real-time, satellite based, on-board flight data monitoring and analysis system, operating with a ground based monitoring and reporting function, which enhances an operators'' ability to schedule maintenance, reduce fuel usage and improve overall operating efficiency and safety. The System has entered commercial use with its first business aircraft operator.
- STAR-TTT (Tracking, Text, Talk), a scaled down version of the STAR-A.D.S. ™ System designed for smaller aircraft and for naval applications, is undergoing a parallel certification process in both Canada and in China.
- STAR V-trk, with its very small size, is an ideal entry level location tracker, with additional scalable functionalities.
All of these on-board products utilize a proprietary STAR ground software operator interface ("GUI"), which offers direct tracking, aircraft situational awareness, and added-value services. With this completely automated chain, STAR delivers today what is expected to be recommended by aircraft regulatory authorities such as IATA, the ITU and ICAO for tracking and data transfer in the future.
STAR is currently in negotiations with two commercial airlines for STAR-A.D.S. ™, while STAR-TTT is already being marketed in two countries in Asia. STAR V-trk was recently presented to several potential users in Canada, with a full market entry planned for the beginning of 2016.
STAR has recently restructured its operations, focusing on upgrades to its GUI, finalizing new contracts for both STAR-A.D.S. ™ and STAR MMI Division products and services, while increasing sales efforts on STAR-TTT and STAR V-Trk, to ensure a greater position in the various market segments.
About Star Navigation:
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S. ™ System. It is the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance trends and predicting incident-occurrence 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.
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star''s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star''s actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Star does not assume any obligation to update these forward-looking statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
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Contacts:
Star Navigation Systems Group Ltd.
Viraf Kapadia
CEO
(416) 252-2889 Ext. 230
Investor Relations:
Frontier Merchant Capital Group
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Datum: 05.10.2015 - 05:11 Uhr
Sprache: Deutsch
News-ID 1389917
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