AVTECH announces plans for test of Aventus NowCast™

The Board of Directors of AVTECH Sweden AB (publ) ("AVTECH" or "The Company") today makes the following announcement:

AVTECH Sweden AB announces that a Letter of Intent has been agreed between the company and an undisclosed medium sized European airline to implement Aventus NowCast. The service provides pilots with advanced weather data with the aim to reduce fuel consumption.

AVTECH and several Airlines in Europe have for some time been discussing the implementation of Aventus NowCast, AVTECH’s fuel saving service. These talks have now resulted in a Letter of Intent (LOI) under which a medium size European airline will perform a payed trial of the service for an extended time period.

“I am very pleased to announce our Letter of Intent. This indicates a confirmation that benefits proven in other Airlines are creating an interest within the Airline industry” says AVTECH Marketing Director Sören Skog.

“This follows the trend of an increased environmental focus within Airlines and AVTECH services definitely have the capability to make such ambitions become a reality, but unfortunately we cannot disclose the name of the client as we are bound by a Non-Disclosure agreement” he concludes.

The trial will be performed under 2019 and a contract is expected during Q1 2020.

For more information, please contact
Sören Skog, Marketing Director, +46 (0) 8 544 104 80
Christer Fehrling, Managing Director, +46 (0) 8 544 104 80
Bo Redeborn, Chairman of the Board, +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. The information was submitted for publication, through the agency of the contact persons set out above, 29 July, 2019 at 08.30 CET. 

About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital Air Traffic Management (ATM). Its customers include the global aviation industry; e.g. airlines, airports, aviation authorities, technology companies and airline manufacturers. By using AVTECH’s products and services, each individual flight as well as the entire airline operation can be optimized in terms of cost, noise and emission, efficiency, punctuality and safety. AVTECH Sweden AB is listed on NASDAQ OMX First North and has appointed Redeye AB, with email certifiedadviser@redeye.se and tel: +46 8 121 576 90, as certified advisor.