While authorities continue to scour the South Pacific for Malaysia Airlines flight MH370, officials with one Calgary business believe they may hold the key to minimize the risk of future aircraft tragedies.

FLYHT Aerospace Solutions has developed the Automated Flight Information Reporting System (AFIRS) which will work in conjunction with current black box technology. AFIRS transmits flight information including altitude, attitude, airspeed, heading, and engine conditions in real time, and will continue to transmit as long as the system has electrical power and an antenna in working condition.

The AFIRS technology has been around for several years but the system has only been installed in approximately 350 airplanes worldwide.

Stock in FLYHT has been on the rise for the past six months but the disappearance of Malaysia Airlines Boeing 777 has prompted a jump in the company’s stock value, despite the fact no major airlines have adopted the AFIRS technology.

Matt Bradley, president of FLYHT Aerospace Solution, understands the aviation industry’s prudent approach to AFIRS.

“I think the industry is cautiously moving forward with all of the right processes and events that it needs to adopt technology like this,” said Bradley. “For very good reason the aviation industry moves slowly and cautiously.”

AFIRS costs approximately $100,000 CDN and takes a few days to install in an aircraft.

With files from CTV's Scott McLean