FLYHT Aerospace Solutions (TSE:FLY) has released an update.
FLYHT Aerospace Solutions is implementing a strategic restructuring aimed at sharpening its focus on sales and the delivery of its AFIRS Edge product line, which is expected to lead to $1.75 million CAD in annual savings. The restructuring will result in a 20% reduction in workforce but is a necessary step towards achieving sustainable positive EBITDA and delivering on existing backlogs. The company is positioning itself to better serve the global airline community with its advanced 5G compatible technology.
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