Australia's Adacel rises as co wins contract for air traffic management

Adacel Technologies

23/06/2021 03:19

** Shares of Adacel Technologies Ltd  ADA.AX  gain as much
as 3.4% to A$0.91 – their highest since April 30
    ** The aviation simulation developer secured new contract
worth $3.6 mln from Seychelles Civil Aviation Authority (SCAA)
to modernize its air traffic management system  urn:newsml:reuters.com:*:nASN001D1J
    ** Under contract, co will completely replace current air
traffic management system of SCAA with Adacel's Aurora Air
Traffic Management system
    ** Adacel says contract is expected to be executed over a
24-month period
    ** Stock posts its biggest intraday percentage gain since
May 27
    ** About 163,000 shares change hands compared with the
30-day average volume of about 74,000 shares
    ** Adacel on track to post a second consecutive session of
gains; down 10.2% this year, as of last close
       

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))