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Message: Star Navigation Systems Appoints Salwan Aviation Group As Exclusive Distributor For India - Opens Office In New Delhi
TORONTO, March 01, 2018 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE:SNA) (CSE:SNA.CN) (OTCQB:SNAVF) ("Star" or the "Company") is pleased to announce the appointment of Salwan Aviation Group as its sole and exclusive Distributor in India for all Star products, as well as the opening of a Star office in New Delhi to provide technical, engineering and sales support. The Salwan agreement provides for an initial term of one (1) year, renewable upon the achievement of sales targets.
The decision to create this partnership with Salwan Aviation and commit resources to India was driven by two important industry reports issued in the fourth quarter of 2017 as follows;
INTERNATIONAL AIR TRANSPORT ASSOCIATION (IATA) REPORT PROJECTS SUBSTANTIAL GROWTH OF INDIAN AVIATION MARKET
A report published by the International Air Transport Association (IATA) in October 2017 concluded the following:
1. India will become the third largest aviation market in the world by 2025.
2. Indian airlines have over 800 planes on order and in the next five years are set to add 350-400 aircraft. Currently, all Indian airlines put together have a fleet of approximately 500 aircraft.
3. By 2036, India air passenger traffic will reach 478 million, surpassing air passenger traffic of Japan and Germany combined. Current India air passenger traffic totals 114 million.
CENTRE FOR ASIA PACIFIC AVIATION (CAPA) REPORT PROJECTS SUBSTANTIAL JOB GROWTH WITHIN INDIAN AVIATION INDUSTRY
A report published by the Centre For Asia Pacific Aviation (CAPA) in November 2017 concluded the following:
1. By 2027, India's aviation market will generate close to 2.6 million direct and indirect jobs.
2. By 2027, India will need 16,800 pilots compared to the current total of 6,772 pilots.
3. By 2027, growth in cabin crew jobs will increase from the current 11,000 to 26,325.
4. By 2027, growth in maintenance engineers will increase from the current 14,420 to 34,972.
Viraf Kapadia, Chairman &CEO said: “The growth figures for aviation in India are massive and irrefutable after reading these reports. However, we believe this level of growth in aircraft, pilots and maintenance engineers will also pose safety and security challenges that will require the assistance of leading products and solutions from Star Navigation. Moreover, the ROI of our solutions will help these airlines reduce costs and run more efficiently in what is bound to be a very competitive market. The appointment of Salwan Aviation will ensure that Star will be part of those conversations from the very beginning.”
Salwan Aviation is the newly formed division of Salwan Group, a company that has experienced great success in India across multiple industries for more than 30 years. The company’s proven management team and extensive network will be invaluable to introducing Star to India’s airline industry. Salwan Group will utilize Stars’ registered Indian patent #209558 to meet their marketing and sales objectives.
Amit Salwan, Executive Director of Salwan Aviation Group stated “We are deeply honored to be appointed exclusive distributor in India for Star Navigation. We have been aware of Star’s efforts in India since 2008 with recommendations for their technology by India’s DGCA. India will be one of the fastest growing aviation markets in the world expecting an additional 800 additional aircraft in the next 5 years. We have positioned our company to be a key player in India’s aviation industry by retrofitting aircraft with Star’s leading technology.”
This Press Release Is Available On The Company's CEO Verified Discussion Forum, A Moderated Social Media Platform That Enables Civilized Discussion and Q&A Between Management and Shareholders.
About Star Navigation
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS(R), the heart of the STAR-A.D.S. (R) System. 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.
Stars' M.M.I. Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide. These displays are found on aircraft and simulators, from P-3 Orion and C-130 aircraft, to Sikorsky and AgustaWestland helicopters, as examples.
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will", "expected" 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 the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
Please visit www.star-navigation.com or
Viraf S. Kapadia, (416) 252-2889 Ext. 230
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