Ron too bad old topic was lost, but FLT is like a new company now going from development to commercial sales. The stock prices also reflects a great entry price. The news on Edmonton was very significant too.
2019-10-29 09:54 ET - News Release
Mr. Michael Zahra reports
DRONE DELIVERY CANADA ANNOUNCES COMMERCIAL AGREEMENT WITH EDMONTON INTERNATIONAL AIRPORT
Drone Delivery Canada Corp., with the assistance of its sales agent Air Canada, has entered into a commercial agreement dated Oct. 28, 2019, with the Edmonton Regional Airports Authority (ERAA), operating Edmonton International Airport (EIA) and Villeneuve Airport, for the purpose of establishing the world's first airport drone delivery hub at EIA using Drone Delivery's proprietary drone delivery platform.
Drone Delivery and ERAA will build out flight routes from EIA using Drone Delivery's DroneSpot takeoff and landing zones utilizing Drone Delivery's drone flight infrastructure. Leveraging ERAA's expertise in airport operations, Drone Delivery and ERAA will implement, promote and market the company's drone delivery services in this controlled airspace to a multitude of new and existing customers. All operations will be conducted in accordance with the Canadian aviation regulations and Transport Canada flight authorizations, and shall be subject to Drone Delivery obtaining all required regulatory approvals.
"With ERAA, we will develop a drone logistics network centred at this world-class airport as a hub for numerous drone routes for our customers. We will continue to work with ERAA and Transport Canada to define particular routes, and with ERAA and Air Canada to negotiate revenue metrics and other commercial terms, to be announced in future press releases. Given the potential size and scope of this disruptive offering, revenue outlook could be significant while concurrently bringing tremendous logistical benefits to the region," said Michael Zahra, president and chief executive officer of Drone Delivery. "To all our stakeholders, I am pleased to report that we will be working closely with EIA to further our current expertise in operating at a major airport in controlled airspace to monetize similar opportunities globally."
The initial term of the agreement is five years with additional successive one-year terms to follow unless the agreement is formally terminated.
"EIA is proud to partner with industry-leader DDC to establish Canada's first airport drone delivery site and drastically modernize cargo logistics and supply chain solutions. Together with our long-standing partnership with Air Canada, we look forward to expanding DDC's network of customers at EIA's Airport City, the Edmonton metropolitan region and other strategic partners. DDC's DroneSpot at EIA elevates intermodal connectivity to support the growing e-commerce, pharmaceuticals, courier, and oil and gas sectors. Thanks to our partners like NAV Canada and Transport Canada, our airport is leading in embracing innovation," said Myron Keehn, EIA vice-president of air service and commercial development.