KIRKLAND, Wash., Sept. 30, 2010 (GLOBE NEWSWIRE) -- AISystems, Inc. (OTCBB:ASYI) ("AISystems" or the "Company"), creator of jetEngine™, a leading business platform software system for the airline industry, is pleased to announce today that it has entered into an arrangement with Turkish Airlines Teknik ("Turkish Airlines or TK") for the evaluation and potential purchase of its jetEngine™ Business Planning Suite ("jetEngine™ BPS").
The jetEngine™ BPS product evaluation is expected to take approximately 60 days from commencement and upon successful completion it is the mutual intention of Turkish Airlines and AISystems to immediately execute a commercial license agreement granting TK rights to use the jetEngine™ BPS software platform.
jetEngine™ BPS is a revolutionary business platform that allows an airline to undertake 360 degree business planning. It produces a complete business plan including a cost, revenue and profitability analysis as well as completely integrated and feasible route, fleet, crew and maintenance schedules in minutes instead of the weeks and months that is currently the norm. jetEngine™ BPS is designed to enhance all existing planning capabilities and can be operated by senior executives to answer the toughest and most important questions that affect their bottom line in minutes.
"Entering our first product evaluation with a major airline within three months of the commercial release of jetEngine™ BPS is a major milestone for AISystems," stated Stephen C. Johnston, President and Chief Executive Officer of AISystems. This is a high profile opportunity to demonstrate the effectiveness of the jetEngine platform and the tangible value we believe it brings to airline management; more importantly, we believe it will provide Turkish Airlines with a significant market advantage in the current global economic conditions. We look forward to a long-term business relationship with Turkish Airlines and we are excited to have TK evaluate the three additional jetEngine™ BPS modules that are planned for release over the next 12-months."
"We think that the jetEngine™ BPS may provide TK a new and unique capability to examine the opportunities in the market place and to quickly build business plans, including fully feasible and compliant schedule plans that take into account market conditions and risk," stated Orkun Hasekioglu, Chief Information Officer of TK. "These business plans may provide the necessary framework for the creation of detailed, executable and operational schedule planning. It is understood that this is a product aimed at the Executive Suite and intended to be run in the Executive Suite as a standalone, independent function and is entirely complimentary to other planning products, although it can be used within any department of the airline."
jetEngine™ BPS Core Business Services is the first module to be evaluated by Turkish Airlines. Under this arrangement, AISystems will provide software and installation as well as training and consulting in the use of the jetEngine™ BPS.
The remaining three jetEngine™ BPS Modules to be evaluated by TK in the near future include:
- jetEngine™ BPS Module 2 : Key Business Drivers (Determines which market, infrastructure or operational variables have the greatest effect on the bottom line and by how much);
- jetEngine™ BPS Module 3 : Data Services (Provides airlines with descriptive and predictive demand data);
- jetEngine™ BPS Module 4 : Competitive Dynamics (Creates and analyzes complex competitive scenarios using a variety of proprietary modern micro-economic and operations research tools).
Each of the four jetEngine™ BPS modules currently has an annual license fee of US$250,000.
"This opportunity with Turkish Airlines is an important first step for AISystems to demonstrate the bottom line value that jetEngine™ BPS can unlock for the 400+ airlines that we believe are the target market for this product,"stated Salman Ullah, PhD, Chairman of AISystems' Advisory Board and Managing Director of Merus Capital, a leading venture capital firm based in Palo Alto, CA, which is AISystems' largest cash investor to date. Prior to founding Merus Capital, Mr. Ullah served as Vice President, Corporate Development at Google responsible for all investments and acquisitions.
About Turkish Airlines
Turkish Airlines is one of Europe's most dynamic, fast growing and profitable airlines. TK has 12,750 employees, 142 aircraft and flies to 158 global destinations. Its 2009 revenue was approximately US$4.8 billion.
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 .
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 & Chief Executive Officer +1 (425) 749-7287 steve@aisystems.org KCSA Strategic Communications Todd Fromer +1 (212) 896-1215 Marybeth Csaby +1 (212) 896-1236 Phil Carlson +1 (212) 896-1233 AISystems@kcsa.com