Aerkomm Expands its Global Partner Network
FREMONT, Calif., April 15, 2018 /PRNewswire/ -- Aerkomm Inc. (OTCQX: AKOM) ("Aerkomm" or the "Company") today announced that it has expanded its global network of connectivity partners to include Airbus, Republic Engineers Maldives, Onuair, Air Malta, and Global Eagle. Aerkomm, through its wholly owned operating subsidiary, Aircom Pacific, Inc. ("Aircom"), is a service provider of in-flight entertainment and connectivity solutions for the airline industry.
Aircom has signed a memorandum of understanding (MOU) with Airbus to develop a next generation Ka-band antenna retrofit solution for Airbus aircraft. "We are excited to be able to partner with Airbus to build the future of in-flight entertainment and connectivity," said Aerkomm's chairman and CEO, Jeffrey Wun.
In addition to a partnership with Airbus, Aircom recently entered into a letter of intent with Global Eagle Entertainment ("Global Eagle"), a leading global provider of satellite-based connectivity and media, to provide connectivity solutions to Global Eagle's partner network, with Malindo Air, a Malaysian-based regional airline as the initial targeted deployment. Wun said, "This collaboration with Global Eagle presents a significant partnership opportunity for Aircom, with the potential to deploy solutions with Global Eagle's other customers in the future."
Aircom also announced that it has entered into MOUs with Republic Engineers Maldives, Onurair, and Air Malta to connect travelers over Europe and Asia:
- Republic Engineers Maldives will partner with Aircom to develop satellite-based connectivity and entertainment solutions to over 50 resorts in the Maldives.
- Onurair, a Turkey-based airline, will collaborate with Aircom to offer in-flight entertainment and connectivity solutions onboard Onurair's fleet of approximately 15 Airbus aircraft.
- Air Malta, a Malta-based airline, will partner with Aircom to offer in-flight entertainment and connectivity solutions onboard 12 Airbus aircraft.
"These partnerships are a huge step toward our goal of becoming a leading provider of entertainment and connectivity solutions," said Wun.
These MOUs are all nonbinding and as a result, they only express the desires and understandings between the parties and do not create any legally binding rights, obligations or contracts except for certain customary provisions such as exclusivity, costs and expenses, confidentiality and governing law. The Company cannot provide any assurances that any of these MOUs will lead to definitive agreements.
About Aerkomm Inc.
Aerkomm Inc. (OTCQX: AKOM), operating through its wholly owned subsidiary, Aircom Pacific, Inc., is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry. The Company strives to become a leading provider of a wide range of in-flight broadband entertainment and connectivity services, including Wi-Fi connectivity, cellular networks, movies, gaming, live television, and music. Aerkomm aims to reshape the market for in-flight entertainment and connectivity services by offering on-board connectivity to its airline partners and passengers for free, generating revenue through advertising and on-board transactions.
More information about Aerkomm is available at www.aerkomm.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Registration Statement on Form S-1 filed with the SEC (SEC File No. 333-222208) on December 20, 2017, as amended most recently on April 12, 2018 and declared effective on April 13, 2018. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Investor Relations Contacts:
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SOURCE Aerkomm Inc.
Released April 15, 2018