TORONTO, May 26 - Star Navigation Systems Group Ltd. (TSX-V: SNA.V) ("Star" or the "Company"), a leading edge technology company focused on providing Aerospace Solutions, including both hardware and software platforms, to assist aviation operators worldwide, is pleased to announce that the Director General, on behalf of the Director General of Civil Aviation ("DGCA") for the Government of India, recently organized and hosted a presentation for all scheduled domestic airlines. The presentation featured Star Navigation's patented TERRASTAR: Real-Time Monitoring(TM) system - a real-time air-to-ground monitoring and communication system that automatically and securely analyzes and transmits flight data.
In addition to the most senior members of the DGCA, the presentation on the Company's TERRASTAR: Real-Time Monitoring(TM) system was also attended by representatives from thirteen (13) domestic airlines based in India. Star had the oppourtunity to introduce itself and to familiarize the attendees with the technology and benefits that can be derived from the implementation of the TERRASTAR: Real-Time Monitoring(TM) system product in their respective fleets.
Global aircraft manufacturers are bullish on the prospects in the domestic Indian aviation market, predicting that India will require more than 1,600 aircraft over the next 20 years (source: The Hindu Business Line). The rapid growth of the Indian economy has resulted in a spillover effect on the airline industry in India. The domestic airline industry recorded a growth of 8.6 per cent during April, as compared to same period last year. To date in the month of May there has been a 31% increase in incoming and outgoing flights, and a 13% rise in domestic operations (Source: e-Travel Blackboard).
Mr. Viraf Kapadia, Chairman and CEO of Star stated, "We are very pleased with the Government of India's response to our technology. We believe that this government endorsed presentation of TERRASTAR: Real-Time Monitoring(TM) will go a long way towards helping us to secure purchase orders for our "TERRASTAR" solution in India." Kapadia commented further, "Our presentation to the Director General of Civil Aviation for the Government of India went extremely well. To date, we've seen significant interest from domestic airlines in India."
TERRASTAR: Real-Time Monitoring(TM) system is an on-board monitoring system that provides a "virtual window into an aircraft". It is a commercial, cost-effective, air to ground communication system that automatically and securely transmits flight data and incident alerts in "real time". The TERRASTAR: Real-Time Monitoring(TM) system provides an operator's ground personnel the ability to monitor trends, predict possible failures, schedule repairs, and assist the flight crew to take preventive action as required. It acts as an early warning system, detecting the earliest signs of potential problems.
This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ir/StarNavig... and view the Star Navigation IR HUB. Alternatively, investors are asked to e-mail all questions and correspondence to SNA@Agoracom.com
About Star Navigation:
Star Navigation Systems Group Ltd.(www.star-navigation.com) owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, 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.
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contacts
www.star-navigation.com or Viraf Kapadia
CEO
viraf.kapadia@star-navigation.com
AGORACOM Investor Relations
Investor Relations
SNA@agoracom.com
http://www.agoracom.com/ir/StarNavig...
