IS&S Deal with ABX Air Clears Runway for Flat Panel Takeoff.
Under an agreement, ABX Air, Inc. (NASDAQ:ABXA) and Innovative Solutions & Support Inc. (NASDAQ:ISSC) have worked together to obtain a Supplemental Type Certificate (STC) from the Federal Aviation Administration for the B-767. The two companies also announce a partnership arrangement under which installation and pilot training will be performed by ABX Air, while the flat panel displays and STC will be supplied by IS&S.
With the acquisition of the STC, both companies are aggressively marketing this turnkey solution to the owners of more than 1,700 B-757 and B-767 aircraft. The agreement allows quick retrofit of these planes with Primary Flight/Navigation Display Systems with completion in less than four days.
"This agreement dramatically compresses the downtime for a flat panel upgrade," says Geoffrey S. M. Hedrick, Chairman and CEO of IS&S. "Our goal is to eventually offer an overnight training and retrofit package to install these state-of-the-art flat panel technologies."
Flat panel displays are poised to revolutionize the way airplanes are flown and navigated by pilots throughout the world. Smaller, lighter and more versatile, flat panel displays and their accompanying technologies replace the traditional instrumentation that is based on more than 30-year old technology. At the same time, the programmability of these new systems provides pilots with a greater degree of situational awareness that will become more important as airline traffic and international trade increases over the next decade and governments mandate technologies that provide more detailed and precise flight data to make skies safer.
"Until now, the widespread adoption of flat panel technology has been limited by the investment and downtime required to successfully retrofit outdated flight decks with today's technology," says Hedrick. "Our arrangement with ABX eliminates all barriers to adoption. At the same time, IS&S solutions dramatically slice the costs of these retrofits and put the planes back in the air faster, restoring the aircraft to revenue generating service for their owners in a matter of days."
This new flat panel technology improves dispatch reliability and provides weight reductions, improving revenue per mile for cargo and passenger airlines. The technology's flexibility allows for easy reprogramming and upgrades. Flat panels also provide for standardized flight deck presentation, reducing training time and cost.
"Clearly, flat panel technology offers a full spectrum of operator benefits," says Dennis A. Manibusan, Senior Vice President, Maintenance & Engineering. "This new agreement brings this technology within reach of an increasing portion of the existing B-757 and B-767 fleet, vastly accelerating flat panel adoption throughout aviation."
About Innovative Solutions & Support, Inc.
Headquartered in Exton, PA, Innovative Solutions & Support, Inc. (www.innovative-ss.com) designs, manufactures and markets flight information computers, electronic displays and advanced monitoring systems that measure and display critical flight information. This includes data relative to aircraft separation (RVSM), airspeed and altitude, as well as engine and fuel data measurements.
About ABX Air, Inc.
ABX Air, Inc. is a cargo airline with a fleet of 111 in-service aircraft that operates out of Wilmington, Ohio, and 18 hubs throughout the United States. ABX Air became an independent public company effective August 16, 2003, as a result of the separation from its former parent company, Airborne, Inc., which was acquired by DHL Worldwide Express B. V. In addition to providing airlift capacity and sort center staffing to DHL Express (USA), Inc., ABX Air provides charter and maintenance services to a diverse group of customers. With over 10,000 employees, ABX Air is the largest employer in a several county area in southwestern Ohio.
Except for historical information contained herein, the matters discussed in this release contain forward-looking statements that involve risks and uncertainties. Innovative Solutions &Support, Inc.'s ("IS&S") and ABX Air, Inc.'s ("ABX's") actual results may differ materially from the results discussed in the forward-looking statements. There are a number of important factors that could cause IS&S's and ABX's actual results to differ materially from those indicated by such forward-looking statements. These factors are contained from time to time in IS&S's and ABX's respective filings with the U.S. Securities and Exchange Commission. Readers should carefully review this release and should not place undue reliance on IS&S's and ABX's forward-looking statements. These forward-looking statements were based on information, plans and estimates as of the date of this release. IS&S and ABX undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.
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|Date:||Nov 29, 2005|
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