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PASSUR Aerospace Announces $2.88 Million Contract with the Federal Aviation Administration for Airspace Security Applications
Jun 18, 2010 (08:06 AM EDT)
STAMFORD, Conn., June 18 /PRNewswire-FirstCall/ -- PASSUR Aerospace, Inc. (OTC Bulletin Board: PSSR) announced today that it has been awarded a $2.88 million contract with the Federal Aviation Administration (FAA) for a 1-year pilot program to provide access to Air Traffic Control and Aviation Security related products in support of the FAA's joint role with the Transportation Security Administration (TSA).
"We're very proud to partner with the FAA and the TSA in support of the multi-agency mission of airspace security," said Jim Barry, PASSUR Aerospace's President and CEO. "And we're equally proud of our team's ability to deliver the robust, reliable, and sophisticated technology and services that are required for this project."
"We have invested extensively in our surveillance, data acquisition, flight and airspace analytics, real-time decision support, and business intelligence capabilities," said G. S. Beckwith Gilbert, PASSUR Aerospace's Chairman of the Board. "It is gratifying that our solutions can be applied to help the Government deliver on its security mission."
PASSUR Aerospace is the sole provider of all products and services to be performed under this contract. Specific solutions will be delivered through the FAA's ADAPT (Automatic Detection and Processing Terminal) System, and will include both data feeds as well as end-user software applications. The PASSUR solutions derive from several core PASSUR capabilities, including its national network of surveillance systems, which includes extended coverage of critical airspace corridors; its integrated database of live and historical flight and airspace information; flight behavior algorithms; flight and airspace visualization technology; and collaborative information dashboards for instant alerts and decision support, as well as the ability to immediately share information and coordinate action.
About PASSUR Aerospace, Inc.
PASSUR Aerospace, Inc. is a business intelligence company which provides its customers predictive analytics built on proprietary algorithms and on the concurrent integration and simultaneous mining of multiple databases. We believe we provide the industry standard in business intelligence dashboards and predictive analytics for aviation organizations. PASSUR serves most major airlines (including 6 of the top 7 North American airlines, as well as the top five hub airlines), over 50 airport customers (including 10 of the top 15 North American airports), and more than 200 corporate aviation customers. PASSUR's system is driven by its proprietary, patented, business intelligence software which is powered by a unique North American network of 140 passive radars, company owned, including one located at each of the top 35 U.S. airports. Other PASSURs are located in Europe and Asia. Flight tracks are updated every 4.6 seconds, thereby providing a system which is user-friendly and useful for decision-making.
Visit PASSUR Aerospace's web site at http://www.passur.com for updated products, solutions, and PASSUR news.
The forward-looking statements in this news release relating to management's expectations and beliefs are based on preliminary information and management assumptions. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results to differ in material respects, including those related to customer needs, budgetary constraints, competitive pressures, the success of airline trials, the profitable use of the Company's owned PASSURs located at major airports, the Company's maintenance of above average quality of its product and services, as well as potential regulatory changes. Further information regarding factors that could affect the Company's results is contained in the Company's SEC filings, including the October 31, 2009 Form 10-K and April 30, 2010 Form 10-Q.
SOURCE PASSUR Aerospace, Inc.