updated 5/31/2011 10:47:10 AM ET 2011-05-31T14:47:10

TORONTO, May 31, 2011 (GLOBE NEWSWIRE) -- AISystems, Inc. (OTCBB:ASYI) ("AISystems" or the "Company"), creator of jetEngine, a revolutionary business platform software system for the airline industry, is pleased to announce the appointment of Mr. Peter M. Bowler to the Company's Advisory Board.

Mr. Bowler served as the Chief Executive Officer of American Eagle Airlines Inc., and was a Senior Officer of American Airlines ("AA") for more than 11 years before his retirement in June 2010.

Reporting directly to the Chairman and CEO of AA and AMR Corporation, Mr. Bowler was a member of the AA Executive Committee and attended meetings of the AMR Board of Directors during the most challenging decade in commercial aviation history. His broad ranging responsibilities across AA and American Eagle included introducing technology, process, organization and culture change at two of the world's largest airlines in a dynamic, difficult industry.

At American Eagle, Mr. Bowler oversaw the integration of three stand-alone airlines to form one of the world's largest regional airlines, operating up to 300 regional aircraft on a network covering the United States, the Caribbean, Canada and Mexico with up to 1,800 daily departures. American Eagle regularly carried in excess of 20 million customers annually generating approximately $2.4 billion in "onboard" customer revenue in addition to connecting approximately 10 million customers and associated revenue to American Airlines' flights. 

Mr. Bowler holds a Bachelor and Master's Degree from St. Francis Xavier University and Queens University, respectively, in Canada, and an MBA Degree from the Harvard University Graduate School of Business in the United States. Bowler served on the Board of Governors of St. Francis Xavier University, where he chaired the Finance Committee and served on the Executive Committee for six years. He has been a member of the Board of Directors for the Dallas Metropolitan YMCA, The Regional Airline Association (former Chairman), and The Montserrat Foundation (former Chairman of the Annual Giving Campaign).

Advisory Board Welcome

Mr. Bowler joins the AISystems Advisory Board chaired by finance and technology expert Salman Ullah, Managing Director of Merus Capital and former Vice President of Corporate Development at Google, where he was responsible for all of Google's investments and acquisitions; Scott Nason, former CIO & VP Revenue Management at American Airlines; John McMahon, former Chairman, CEO and President of Genesis Lease Limited; Tim Morgan, a founder of WestJet Airlines; and Christoph Flügel, Chief Pilot of Swiss International Air Lines.

"We are excited to welcome someone of Peter's stature and experience to our team," commented Mr. Ullah, Chairman of the AISystems Advisory Board.

"I am really impressed with the vision and drive of the AISystems founding team. I believe the jetEngine™ Business Planning Suite can offer tremendous benefit to the airline industry. I'm happy to share my perspective and experience with the company," Mr. Bowler remarked.

Stephen C. Johnston, President and CEO of AISystems stated "We are thrilled to have Peter join the AISystems Advisory Board. His deep understanding of strategic airline planning challenges is a huge asset for us. We welcome his input as we transition jetEngine™ BPS from our beta trials to commercial launch."

About jetEngine™ BPS

jetEngine™ BPS is an advanced business platform that produces a complete business plan including a cost, revenue and profitability analysis. As well, the system produces completely integrated and feasible route, fleet, crew and maintenance schedules at a speed previously unimaginable. This tool, based on advanced scheduling algorithms and features, allows for the complete redesign of the airline business planning approach. When building the business plan, satisfying all planning requirements and business objectives, jetEngine™ BPS reduces the airline planning cycle from months to minutes. This paradigm shift in airline planning is only possible through jetEngine™ BPS' breakthrough technology and algorithms.

A powerful feature of jetEngine™ BPS is that it operates in the "Cloud", independently of existing in-house systems. jetEngine BPS is AISystems' first cloud-based software suite and is the first product in the Company's new SAAS (Software as a Service) business model, allowing it to be rapidly implemented by an airline.

About AISystems

AISystems has developed a unique, proprietary business platform software system for the airline industry called jetEngine™, which is comprised of systems and mathematical algorithms capable of generating significant profitability improvements through strategic business planning capabilities, resource scheduling, revenue management and integrated operations. More information about AISystems can be found at www.aisystems.org .

Safe Harbor Statement

This press release may contain "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes from anticipated levels of sales, future national or regional economic and competitive and regulatory conditions, changes in relationships with customers, access to capital, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, and other factors. Additional Information regarding risks can be found in the Company's Annual Report on Form 10-K and in the Company's recent report on Form 8-K filed with the SEC. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.

CONTACT: AISystems, Inc.
         Stephen C. Johnston
         President and Chief Executive Officer
         +1 (416) 367-2544
         steve@aisystems.org

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.71%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com