AerSale (NASDAQ: ASLE) completed a major milestone toward commercializing a highly anticipated product, and its stock took flight as a result. Shares of AerSale had gained 10% for the week as of Thursday afternoon, according to data provided by S&P Global Market Intelligence, on hopes that the new product would soon be ready for commercialization.

AerSale is an aerospace company focused primarily on the sale and lease of used aircraft, as well as maintenance, repair, and overhaul services for plane owners. The company's core business of remodeling and selling aircraft has been sluggish this year as a result of a slowdown in demand for cargo lift. But one of its more promising future offerings is making progress on moving through the regulatory approval process.

Late Monday, AerSale announced it had successfully completed all certification flight testing for AerAware, an enhanced flight vision system for older Boeing models. Prior to the completion of the tests, the Federal Aviation Administration approved all modifications to the system.

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Source Fool.com