Adacel Technologies Announces Expanded Support Services on ATOP Program

Adacel Technologies Limited (ASX: ADA)  is pleased to announce an increase to its existing engineering support services agreement with Leidos under the Federal Aviation Administration’s (FAA) Advanced Technologies and Oceanic Procedures (ATOP) Program. The increased services are expected to continue into the 2020 financial year.

This expansion of engineering support services under the ATOP Program represents an increase of approximately 20%, on an annualised basis, compared to 2017, and applies to both time and materials.

Adacel Chief Executive Officer, Gary Pearson, said “We are excited to expand our engineering support services under the ATOP Program and, in doing so, continue to grow our long term relationship with Leidos and the FAA. The expansion of services is consistent with the Company’s strategic pursuit of growth opportunities in its Services segment”.

The ATOP Program is Adacel’s largest and longest contract dating back to 2000 with annual service revenues in 2017 of approximately A$12.0M. The state of the art satellite based air traffic management system provides a fully modernised oceanic air traffic control automation that allows airlines to take advantage of investments made in cockpit digital communications. With ATOP, the FAA significantly reduces the intensive manual processes that currently limit the ability of controllers to safely handle airline requests for more efficient tracks or altitudes over long distance oceanic routes. It allows the FAA to meet international commitments of reducing aircraft separation standards thereby dramatically increasing capacity and efficiency.

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s