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FLYdocs revenues soar in 2014/5
By Jen Adams
01 February, 2016

Aircraft and data management software provider, FLYdocs, today announce a strong performance in FY 2014/5 with revenues up 54% to £3.8m and gross profit of 63%. The majority of this is from software sales. 80% of revenues are from international customers. This strong position extends into future years with a forward order book of tens of millions of £GBP.

This year saw huge interest from the market which led to the acquisition of 12 new customers. FLYdocs continued to deliver on every contract, including major undertakings in Chile, Australia, UK, US, Switzerland, Russia and China.

With this explosion of new customers, the number of FLYdocs users tipped 10,000 across the globe. More than 100 aircraft have now been successfully transitioned via the FLYdocs platform in a fully paperless way. FLYdocs has more than 400 contracted lease returns and audits. It has scanned and migrated over 180million documents in this FY alone.

As in previous years, this FY saw a strong focus on product development, investment and functional growth. In the last 12 months FLYdocs launched in new languages including Spanish and Mandarin – widening access to clients who wish to push the functionality of the platform through to users whose first language is not English. It also launched FLYdocs V2 platform which is empowered by a global cloud and big data analytical database infrastructure that places FLYdocs well ahead of its competitors for many years to come.

In April FLYdocs welcomed investment and support from Growth Capital Partners to accelerate its development. This has already enabled it to move and expand its premises in India and the UK, strengthen the board and management team with a number of key appointments and establish FLYdocs Inc. in the US.

Adrian Ryan, CEO of FLYdocs commented:

“I’m excited about entering this next phase of our journey. Having worked hard to develop the core FLYdocs product and put in place the right international operational infrastructure, we are now focused on scaling the business. We will more than triple our revenues by 2019, with value underpinned by long-term deals in all global geographies – including those where competitors have historically been strongest.

Our market is at a tipping point, we have the most advanced product available and our world-class customers are our advocates of our service. We are well-positioned to deliver this growth and I am extremely confident about the period ahead.”

With Asia and Latin America forecast to have some of the most rapid global growth in the marketplace over the next 10 years FLYdocs is placed to service these international markets with 10 offices round the globe, including operational bases in these regions.

A snapshot

The following infographic gives a snapshot of our 2014/15 results and strategy:
FLYdocs_annual_results_FINAL_lg


About FLYdocs

FLYdocs is the world’s most advanced aircraft data and records management platform. The FLYdocs Big Data solution is utilised by airlines and lessors worldwide to efficiently manage assets, data and records in real time to transition assets at sale or end of lease on-time in a fully paperless way.

The FLYdocs system is underpinned by an aggressive software development programme which has new modules available for customers including Project Management, FLYsign Digital Sign-off [with electronic workflows], Authorisations & Training Records Management and the FLYdoc integrated electronic documentation and authoring system.

FLYdocs provides aircraft records management software, related outsourcing solutions and technical aviation services. It is privately owned, has 250 employees and is headquartered in Tamworth, Staffordshire, UK, with offices in India, Philippines, China and the US.

Contact and more information:

Jen Adams
FLYdocs
+44 782 777 8719
jen.adams@flydocs.aero
www.flydocs.aero

What they said

  • FLYdocs has successfully completed lease return projects for Wizz Air in the past, which gave us great insight into the power of their system. Now with full access to FLYdocs®, we have the right platform to manage all of our records across the entire portfolio.
    - Heiko Holm, Technical Director, Wizz Air
  • We can instantly see a project status, identify queries and delegate team members to respond to them all within the system. This detailed visibility provides us with every confidence in our ability to successfully redeliver this large number of aircraft in such a short period of time.
    - Jan De Meyer, Technical Representative & Records Manager, Brussels Airlines
  • We expect the FLYdocs® system to facilitate smoother aircraft lease returns, through benefits such as the structuring of and access to our maintenance records.
    - Rob Saunders, Manager Engineering Development Cathay Pacific Airways
  • We have already enjoyed the benefit of cost and time savings involved with researching historical information – what used to take days to complete, now takes mere seconds to search and find documentation.
    - Jim Landers SVP- Technical Operations Hawaiian Airlines
  • The FLYdocs document audit was very comprehensive and captured a lot of discrepancies that might have otherwise been missed during a physical on-site documentation review. Once in a digital format, it was very quick and easy to locate a required document or piece of information.
    - Dean Pang, Engineering Executive at SilkAir
  • FLYdocs® allows us to be prepared and in a proactive position instead of reacting to document findings from a lessor just before the physical inspection starts. The feedback from the lessors is always positive as they can review the documents online and on different remote locations.
    - Werner Reiser Senior Manager Phase Out Program SWISS International Air Lines Ltd
  • We are excited to be moving to a new digital way of working that will transform our current engineering practices and we ensure that we deliver against our ambitious asset transition programme, keeping us and our fleet at the forefront of aviation in Europe.
    - Cemil Sayar, Director Technic, SunExpress
  • FLYdocs not only brings a leading software solution but also specific expert knowledge in the area of commercial aviation records management.
    - Rob Saunders, Manager Engineering Development Cathay Pacific Airways
  • The visibility and advanced electronic real-time audit functionality across both the records and aircraft physical inspection sides of the process have allowed Virgin staff, our MRO partners and the lessors, lessees and aviation authorities involved in the process to pro-actively manage each delivery with ease.
    - Rick Daniels Information Services & Airworthiness Records Manager Virgin Atlantic Airways
  • The platform’s superior functionality will provide us ease of use and multi-user web access to technical aircraft records from anywhere in the world.
    - Justin Goatcher, CDB Aviation, Head of Asset Management
  • The platform will bring much more versatility and control across the entire audit and transition process. We are also excited by the improvements it will make to our aircraft remarketing and trading performance too.
    - Rich Poutier, Chief Technical Officer, MCAP
  • We were impressed by the technical capabilities of the FLYdocs® platform. We contracted FLYdocs to manage the complete project from scanning to audit, and have the FLYdocs team to thank for their hard work and expertise.
    - Barry Keenaghan, Project Manager, NAC

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