Aerospace

Aerkomm Enters into a Definitive Agreement with Sakai Display Products Corp. and PanelSemi Corp.

Freight News
Aerkomm Inc. ("Aerkomm" or "the Company") (Euronext Paris: AKOM;OTCQX: AKOM), a development stage service provider of In-Flight Entertainment and Connectivity solutions for the airline industry using Ka-band technology, today announced that it entered into a joint venture (the "Joint Venture") agreement (the "Agreement") with Sakai Display Products Corporation ("SDPJ"), a company incorporated under the laws of Japan, and PanelSemi Corporation ("PanelSemi"), a company incorporated under the laws of Taiwan, on January 10, 2022.

Through this Joint Venture, Aerkomm will develop and commercialize a tile antenna ("Tile Antenna"). The Joint Venture will be operated through a to-be-established California corporation ("Newco"), which will be owned initially 100% by SDPJ.  Aerkomm will license to Newco its intellectual property, know-how and research and development results related to the Tile Antenna.  SDPJ will provide Newco with working capital to develop the Tile Antenna proof of concept ("POC").  Upon approval of the POC, Aerkomm will contribute the intellectual property to Newco in exchange for 52% of the equity interest in Newco, and SDPJ and PanelSemi collectively will contribute $20 million in cash (less the contributions funded prior to the POC approval). SDPJ will hold 45% of Newco's equity interest and PanelSemi will hold the remaining 3%.

Moreover, according to the Agreement, SDPJ will invest €7.5 million in Aerkomm via private placement upon approval of the POC.

In the event that the POC is not achieved within 11 months following the signing of the Agreement, the Joint Venture will be terminated, at which time we will terminate the intellectual property license to Newco and Newco will remain 100% owned by SDPJ.

"This agreement marks the first step in our partnership with SDPJ and PanelSemi. The joint venture will facilitate the development of a tile antenna to further our technological capabilities and better serve our customers. Looking ahead, we look forward to opportunities to expand our business and developing new industry-leading technology."

- Mr. Louis Giordimaina, CEO of Aerkomm

About Aerkomm Inc.
Aerkomm Inc. (Euronext Paris: AKOM;OTCQX: AKOM), operating through its wholly owned subsidiary, Aircom Pacific, Inc., is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry. The Company strives to become a leading provider of a wide range of in-flight broadband entertainment and connectivity services, including Wi-Fi connectivity, cellular networks, movies, gaming, live television, and music. Aerkomm aims to reshape the market for in-flight entertainment and connectivity services by offering on-board connectivity to its airline partners and passengers for free, generating revenue through advertising and on-board transactions.

Spotlight

Other News
Aerospace, MRO, Cargo Management

TAT Technologies signs another 5-year contract with an international air carrier for APU MRO services with estimated total revenues of $10 million

PR Newswire | January 16, 2024

TAT Technologies Ltd. a leading supplier of products and services for the commercial and military aviation industries and the ground defense industries, announces a new contract with an international air carrier. This contract is a result of a very successful partnership between the companies over the last several years which led the parties to sign a global fleet contract. As part of this contract, TAT will provide MRO services to the airline's GTCP331 model APUs. TAT estimates total revenues from this contract to be $10 million ($2 million per year). By signing this contract, we further advanced our dominating position as the leading APU 331-200 MRO in the market serving the widely utilized B757/767 fleet by providing APU 331-200 repairs with a reputation for quality and on time delivery to this important market. In 2020 and 2021, TAT (through its fully owned subsidiary, Piedmont Aviation Components based in Greensboro North Carolina) signed multiple strategic contracts with the Fortune 100 multi-national aerospace company Honeywell. Under these contracts, TAT was awarded a 10-year license for repair and overhaul of APUs for Boeing and Airbus's key platforms, including B737, B777, B767/757 and A320 aircraft as well as the C17 which is used for military purposes. The Company is also a global provider for APUs leases to airlines across multiple commercial platforms with an additional exclusive 10 yr. agreement for the B777 aircraft, with Honeywell. Piedmont has completed its facility upgrades required to commence MRO operations for the GTCP331-500 (B777) and GTCP131-9 (A320/B737). Igal Zamir, CEO of TAT stated: "We are very pleased with this contract, which comes after several years of very fruitful relationship. By signing this contract, we established our domination in the commercial segment of MRO for the APU331-200.

Read More

Aerospace, Defense and Space, Aviation Technology

Liberty Defense Announces First Sale of HEXWAVE to an International Airport in Asia Pacific

Newswire | January 22, 2024

Liberty Defense Holdings Ltd. a leading technology provider of Artificial Intelligence (AI) based next generation detection solutions for protecting secure locations against prohibited weapons and other threats, is pleased to announce that the HEXWAVE™ system will be deployed at an international airport in the Philippines. The sale was made by the Company's international distributor and deployment is scheduled for summer of 2024. The screening will be at the forecourt of the airport to screen people entering the terminal. Liberty's HEXWAVE product, a next generation, walkthrough, contactless threat detection system for concealed metallic and non-metallic objects, uses AI to provide automated decisions to security operators to process people at speed. The company started shipping HEXWAVE to customers in September 2023 and the backlog of systems has grown to over 30 systems. "We continue to see an increase in demand from airports on a global basis for enhanced screening at various checkpoints and entrances," said Bill Frain, CEO of Liberty Defense. "In addition to screening for aviation workers, airports are taking advantage of HEXWAVE's mobility and scanning individuals as they enter the terminal as part of an added and layered security approach." For updates and news, please visit the Company website to subscribe to email alerts or follow Liberty Defense on social channels.

Read More

Business Aviation, Commercial Aviation, Aviation Technology

CDPQ and SMBC Aviation Capital partner to create USD 1.5 B aircraft financing platform

PR Newswire | January 30, 2024

CDPQ, a global investment group, and SMBC Aviation Capital, the world's second largest aircraft leasing company, announced today that they have finalized an agreement to create a USD 1.5-billion global aircraft financing and leasing platform dedicated to modern, fuel-efficient NextGen aircraft. This new platform will focus on worldwide opportunities in new technology aircraft and target an initial deployment of USD 500 million per year, over three years. SMBC Aviation Capital will source transactions and, under a sistership condition, invest in opportunities alongside the platform. SMBC Aviation Capital will also act as servicer of the platform, which will operate under the banner Maple Aircraft Company Holdings Limited. "Building on CDPQ's experience in the aircraft financing industry, through this new platform, we will continue to provide flexible financing solutions for airlines to meet their future fleet requirements," said Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ. "We're delighted to partner with SMBC Aviation Capital, an industry leader with a successful track record, who has demonstrated their commitment to sustainable aviation, to find the best opportunities in the commercial aircraft industry and to achieve attractive risk-adjusted returns over the long term." "We are pleased to partner with CDPQ on this new platform to benefit our airline customers worldwide," said Peter Barrett, Chief Executive Officer at SMBC Aviation Capital. "CDPQ is an experienced, well respected, global investment group, which is aligned with our own views on capital allocation and a sustainable aviation industry. We look forward to working with our new partners over the coming years on this collaboration."

Read More

Aerospace, Defense and Space, Aviation Technology

AAR signs new multi-year military distribution agreement with Ontic

AAR | January 05, 2024

AAR CORP. a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has announced a new multi-year agreement with Ontic, providing AAR distribution rights to supply a strategic selection of military products to the U.S. government, with exclusivity on specified parts. AAR currently provides military distribution support to Ontic's Cheltenham, United Kingdom, facility and commercial distribution support to Ontic's Creedmoor, North Carolina, facility. Under this additional contract, AAR will support Ontic's Chatsworth, California, facility. Ontic is pleased to deepen our partnership with AAR through this new agreement. AAR's support adds efficiencies to our processes that allow us to best support our wide range of customers," said Terry Streb, General Manager of Ontic's Chatsworth facility. "AAR enables us to reduce turnaround times and improve product availability for our shared U.S. government customers. AAR is enthusiastic about bolstering our strategic military portfolio by expanding our Ontic relationship to include the Chatsworth facility," said Ross Wuestenfeld, Vice President of AAR's Distribution – Defense. "Ontic is a trusted provider of parts and services to the aviation aftermarket, and we look forward to enhancing these services to support the U.S. warfighter.

Read More