Elbit Systems Ltd. (the “Company”) recently announced that it was awarded two follow-on contracts by the Israeli Ministry of Defense (“IMOD”) for the operation and maintenance of the Israeli Air Force’s (“IAF”) Flight Academy trainer aircraft and helicopters. These contracts were part of the Company's December 31, 2012 announcement regarding contract awards by the IMOD in the aggregate amount of approximately $315 million covering several business areas. Under the first, such contract for the IAF, which is a follow-on to a contract awarded in 2004, Elbit Systems will provide full logistics and maintenance services on a basis of "Power by the Hour" for the Bell 206 ("Sayfan") and operational level maintenance for Cobra AH-1A ("Tzefa") helicopters. In the second contract, a follow-on to a contract awarded in 2009, Elbit Systems will supply maintenance services for the HBC (Hawker-Beechcraft) T-6 ("Efroni") trainer aircraft. Both contracts will enter into effect during 2014 following completion of the previously awarded contracts.
Yoram Shmuely, Co-General Manager of Elbit Systems' Aerospace Division, noted:”The decision to renew the contracts for these operation and maintenance programs attests to the IMOD and the IAF's high level of satisfaction with the service, availability, usability and flight safety achieved throughout the programs to date, ranking Elbit Systems high in the IAF's quality and performance criteria”. Shmuely added: "We are witnessing a growing global trend toward privatization of training operation and management, and we hope that our experience and reputation achieved in projects tailored for the IAF will enhance our ability to obtain similar projects worldwide."
Elbit Systems has been providing the IAF with maintenance services for its training aircraft and helicopters since 2002.
Source: Elbit Systems Ltd.
Date: Jan 14, 2013