BREAKING NEWS

Elbit Systems wins huge IAF training aircraft contract

By HILLEL KOREN/GLOBES

SEPTEMBER 10, 2012 13:23

Elbit Systems Ltd. on Monday announced that Tor Advanced Flight Training, its partnership with Israel Aerospace Industries Ltd., established for the Israel Air Force's future trainer program, has reached an agreement with the Ministry of Defense on a $603 million contract, of which Elbit Systems' share is $420 million for providing services and systems as a subcontractor to Tor.

The contract is expected to be signed in the coming weeks, following the finalization of several financing procedures. In order to facilitate meeting the project’s schedule, TOR received an interim $27 million purchase order and financing from the Ministry of Defense.

In the project's establishment phase, Elbit Systems will establish an enhanced logistic support and maintenance infrastructure for the new trainer as well as an advanced ground training array. The new, advanced avionics systems that Elbit Systems will supply will improve the readiness of Air Force pilots in operating next-generation aircraft. Elbit Systems’ share in this phase of the project, worth $110 million, will be carried out over three years.

During the project's operational phase, Elbit Systems will provide logistics services for the trainer and the new aircraft array, worth $310 million, over twenty years.

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