AirNet Announces Strategic Cooperation with Lufthansa Technik

BEIJING, Oct. 11, 2019 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia in China, today announced that one of its subsidiaries, Air Esurfing Information Technology CO., Ltd. ("ARE"), had signed a strategic cooperation agreement ("Agreement") with Lufthansa Technik, a world leading provider of technical aircraft services, to provide inflight connectivity retrofit packages to aircrafts in the Chinese market.

During the term of this Agreement, Lufthansa Technik will design and certify Ka-band-based connectivity retrofit packages for both the Airbus A320ceo and A320neo aircraft families as well as the Boeing 737NG and 737MAX. Lufthansa Technik will also work with ARE to provide respective CAAC validated EASA Supplemental Type Certificate (VSTC) to support Chinese airlines. Moreover, Lufthansa Technik will supply material and provide material handling services for the installation of the packages, that can be tailored to the specific requirements of airline customers of ARE. The execution of this Agreement was witnessed by John Aston, Vice President of global sales and Mr. Bo Zhou, Director of Asia Pacific sales in connected aircraft from Honeywell.

Mr. Gerald Steinhoff, Senior Vice President of Lufthansa Technik, commented, "The partnership with ARE is a significant step in Lufthansa Technik's global focus to meet a promising market demand in China. As a joint force, we shall exploit the full potentials of Chinese market."

Mr. Grant Zhou, COO of AirNet, commented, "We are pleased to partner up with Lufthansa Technik to provide our customers with a comprehensive solution to embrace IFC ranging from design engineering and certification of connectivity solutions and provide material supply and material handling services for installations. This cooperation will further enhance our ability to provide a highly tailorable solution to meet the increasing growth of high-speed inflight connectivity in China." 

Mr. Herman Guo, CEO of AirNet commented, "As an in-flight solution provider on connectivity, the Company's strategic cooperation with Lufthansa Technik signals a new chapter in our history, as we take a big step forward empowering Chinese airlines with high-speed in-flight Internet services." 

About Lufthansa Technik

With some 35 subsidiaries and affiliates, the Lufthansa Technik Group is one of the leading providers of technical aircraft services in the world. Certified internationally as maintenance, production and design organization, the company has a workforce of more than 25,000 employees. Lufthansa Technik's portfolio covers the entire range of services for commercial and VIP/special mission aircraft, engines, components and landing gear in the areas of digital fleet support, maintenance, repair, overhaul, modification, completion and conversion as well as the manufacture of innovative cabin products.

About AirNet Technology Inc.

Incorporated in 2007 and headquartered in Beijing, China, and formerly known as AirMedia Group Inc, AirNet (Nasdaq: ANTE) provides in-flight solutions to connectivity, entertainment and digital multimedia in China. Collaborating with our partners, AirNet empowers Chinese airlines with seamlessly immersive Internet connections through a network of satellites and land-based beacons, provides airline travelers with interactive entertainment and a coverage of breaking news, and furnishes corporate clients with advertisements tailored to the perceptions of the travelers. For more information, please visit us at http://ir.ihangmei.com 

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's business strategies and initiatives as well as the Company's business plans; the Company's future business development, results of operations and financial condition; expected changes in the Company's revenue and certain cost or expense items; trends and competition in China; general economic and business conditions in China; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

For more information, please contact:

Company Contact: 
Yan Liu 
Director, Investor Relations 
AirNet Technology Inc. 
Tel: +86-10-8460-8678 
Email: ir@ihangmei.com

SOURCE AirNet Technology Inc.