The Board of Directors of AVTECH Sweden AB (publ) ("AVTECH" or "The Company") today makes the following announcement:
AVTECH Sweden AB and Lufthansa Cargo AG agree to proceed with a commercial cooperation with Aventus NowCast™ weather uplink service
As previously announced, AVTECH and Lufthansa Cargo, began a cooperation in 2016 with the purpose of evaluating the benefits of AVTECH’s weather uplink service Aventus NowCast™ in Lufthansa Cargo’s operation.
The evaluation period has now been concluded and it is with great pleasure AVTECH announces that a 5 year long commercial agreement, effective 01 January 2018, has been signed. This initial contract has a yearly revenue for AVTECH of less than 1.0 MSEK.
AVTECH is the only company in the world that can distribute processed weather information from the most up to date and advanced forecasts available. These are derived from the UK Met Office’s high resolution global meteorological model and can be sent directly to airlines and pilots.
The Aventus NowCast™ weather service gives pilots access to weather data of the highest quality available, and when the data is fed into the aircraft Flight Management Computer, the actual aircraft trajectory is optimized, reducing the fuel burn and the CO2footprint
” I am extremely pleased that our intensive and constructive cooperation with Lufthansa Cargo now moves into a commercial phase”, says Soren Skog Marketing Director of AVTECH.” Lufthansa Cargo is a fantastic partner to work with and because of the evaluation performed over the last 12 months we are better able to quantify the benefits Aventus NowCast™ brings to our customers. We will shortly discuss our weather service with other airlines in the Lufthansa-group, as each airline in the group independently decides if they will join the signed agreement”.
“We are sure that the cooperation with AVTECH is going to optimally support Lufthansa Cargo’s broad efforts in the area of fuel efficiency. We are looking forward to achieving further improvements together” says Björn Ostertag (Head of Fuel Efficiency & Punctuality Management) at Lufthansa Cargo.
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
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, Oct 6 2017.
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.