PRN: Swedish AVTECH Prepares its Initial Public Offering
Swedish AVTECH Prepares its Initial Public Offering
STOCKHOLM, November 8, 2011 /PRNewswire/ --
AVTECH Enables Performance Based Operations forÂ the Air Transport Industry
The Air Transport industry is facing major challenges. Today's aviation needs to be more efficient, more profitable, more environmentally friendly, and most importantly, preventing delays associated with takeoff and landing.
The analogue navigation systems that have been used by the industry for the last fifty years will gradually be replaced throughout Europe in the next ten years. The replacement, called Digital Air Traffic Management (Digital ATM), will allow a highly improved, more efficient way for airlines and airports to communicate. AVTECH, which holds a long history of extensive research and development, has recently launched commercial products and services that will enable this major shift within the industry.
Digital ATM has many benefits: increased traffic volume, improved data accuracy, significant safety benefits and cost savings. AVTECH's patented product AventusNowCast™ transmits accurate, real-time wind updates digitally to the airplane's computer prior to landing. This enables a so called Green Approach where the airplane gradually descends to it's destination with the plane engines at idle.
"Wind is the most crucial external factor when it comes to predicting flight operations. Our patented wind information system AventusNowCast™ calculates the optimal route where the winds are monitored in real-time", said David Alvord, CEO of AVTECH.
With the use of Digital ATM each flight can be scheduled and narrowed down to seconds instead of minutes, which will improve the travel situation for all passengers. Â Takeoffs and landings will be punctual and the bottle necks in the air with planes holding around the airports prior to landing will be eliminated. Today, the cost of delayed flights is approximately 1.3 to 1.9 billion Euros annually.
AVTECH has recently signed a licensing agreement with SITA, the world's largest supplier of IT and communications technology for the aviation industry. The Value Added Reseller (VAR) is co-owned by more than 550 airlines, airports and logistics service companies. Â SITA has more than 3200 customers worldwide and holds a market share of 70 %.
AVTECH has for several years been active in European research initiatives such as SESAR (Single European Sky ATM Research) and Clean Sky. The company holds several contracts within SESAR and has been selected to be Airbus Associated Partner together with the Boeing. Â AVTECH is also active within Systems for Green Operations, a Clean Sky initiative where the company is researching future flight scenarios and how the system for flight management can develop in the most effective and environmentally friendly way. Â
AVTECH develops products and services for digital air traffic management systems. Customers include airlines, airports, aviation administrations, IT companies and airplane manufactures. AVTECH's products and services enable an optimized flight operation when it comes to cost savings, noise levels and decreased pollution, time accuracy and security.