PASSUR Aerospace Announces $2.9 Million Contract Extension with the Federal Aviation Administration (FAA) Delivering Airspace Security Applications for the Transportation Security Administration (TSA)
STAMFORD, Conn., June 22, 2011 /PRNewswire/ — PASSUR Aerospace, Inc. (OTC Bulletin Board: PSSR) announced today that it has been awarded a one-year, $2.9 million contract extension with the Federal Aviation Administration (FAA) for PASSUR’s program, which provides air traffic management and aviation security solutions in support of the FAA’s joint role with the Transportation Security Administration (TSA).
“We are pleased to continue our partnership with the FAA and TSA, providing critical solutions in support of the multi-agency mission of airspace security,” said Jim Barry, PASSUR Aerospace’s President and CEO. “Our dedicated, seasoned, and innovative team of aviation, security, and technical professionals are proud to support these missions with industry-leading solutions and mission-essential capabilities.”
“PASSUR’s extensive surveillance, data processing, flight and airspace analytics, real-time decision support, and business intelligence capabilities are key assets for the mission of airspace security,” said G.S. Beckwith Gilbert, PASSUR Aerospace’s Chairman of the Board. “The PASSUR team is proud to be able to help.”
PASSUR solutions derive from several core proprietary PASSUR capabilities, including its national network of surveillance systems, which includes extended coverage of air traffic in critical airspace corridors updated every 4.6 seconds; 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 in real time.
About PASSUR Aerospace
PASSUR Aerospace, Inc. is a business intelligence company which provides 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 dozens of airlines (including 5 of the top 6 North American airlines, and all 5 of the top hub carriers), more than 50 airport customers (including 22 of the top 30 North American airports), and approximately 200 corporate aviation customers, as well as the U.S. Government, including the Federal Aviation Administration (FAA) and the Transportation Security Administration (TSA). PASSUR’s system is driven by proprietary, patented, business intelligence software, which is powered by a unique North American network of 154 passive radars, company owned, with one covering 98 of the top 100 North American 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 press 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, 2010 Form 10-K and April 30, 2011 Form 10-Q.
SOURCE PASSUR Aerospace, Inc.