Why Structural Monitoring Systems plc shares soared on Delta Air Lines deal

The Structural Monitoring Systems plc (ASX:SMN) share price has been on the move today after announcing an Aircraft Component Purchase agreement with Delta Air Lines…

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The Structural Monitoring Systems plc (ASX: SMN) share price has been pushing higher.

Yesterday its shares were higher by as much as 14% before giving back these gains. In late trade yesterday its shares are up almost 2.5% to $1.85.

Why have its shares climbed higher today?

The company announced a 10-year Aircraft Component Purchase agreement with US airline giant Delta Air Lines.

The agreement is the world's first commercial agreement related to the supply and permitted use of a structural health monitoring technology with a commercial airline operator.

The announcement is certainly great news for the company and could be the start of much greater things if all goes to plan.

For a more detailed description of the technology have a read of this.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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