• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Excelitas Qioptiq banner

BATTLESPACE Updates

   +44 (0)77689 54766
   

  • Home
  • Features
  • News Updates
  • Company Directory
  • About
  • Subscribe
  • Contact
  • Media Pack 2022

IAI REPORTS RECORD CONTRACTS

April 22, 2002 by

11 Feb 02. State-owned Israel Aircraft Industries (IAI) said on Monday its new contracts rose 11 percent to a record $2.88bn in 2001, boosted by orders for business jets, satellites and unmanned reconnaissance aircraft. “Despite the fact that the year 2001 was complicated because of what happened on the international aviation and aerospace arena and despite the economic strains and security hardships in Israel, we met our marketing goals,” IAI President and Chief Executive Moshe Keret said in a statement.“While we can’t predict with certainty when the world slowdown — especially in the commercial aviation field — will end, we believe there will be constant growth in our business.”IAI last year sold its Astra and Galaxy business jets venture –jointly owned by IAI and Hyatt Corp — to General Dynamics Corp (NYSE:GD – news) for $330m in cash, but the executive jets will continue to be assembled by IAI in Israel.A company spokesman said IAI and Hyatt may receive another $315m in additional payments based on future sales.The spokesman said other strong areas for the company last year included sales of communications satellites amd unmanned aerial vehicles.Keret said the company moved closer to meeting its goal of balancing sales between military and commercial programmes.IAI’s exports grew 3.9 percent last year to $2.195bn. New contracts for commercial exports in 2001 totalled $1.34 billion, accounting for 61 percent of total exports.New contracts in the local market rose to $689m in 2001 from $483m in 2000. Local market contracts accounted for 24 percent of total new contracts last year. IAI’s backlog of orders now stands at $3.8bn(2000:$3.3bn).

Primary Sidebar

Advertisers

  • qioptiq.com
  • Exensor
  • TCI
  • Visit the Oxley website
  • Visit the Viasat website
  • Blighter
  • SPECTRA
  • InVeris
  • Britbots logo
  • Faun Trackway
  • Systematic
  • CISION logo
  • ProTEK logo
  • businesswire logo
  • ProTEK logo
  • ssafa logo
  • DSEi
  • Atkins
  • IEE
  • EXFOR logo
  • KME logo
Hilux DVD2022 GlobalMilSat

Contact Us

BATTLESPACE Publications
Old Charlock
Abthorpe Road
Silverstone
Towcester NN12 8TW

+44 (0)77689 54766

BATTLESPACE Technologies

An international defence electronics news service providing our readers with up to date developments in the defence electronics industry.

Recent News

  • EXHIBITIONS AND CONFERENCES

    July 1, 2022
    Read more
  • VETERANS UPDATE

    July 1, 2022
    Read more
  • MANAGEMENT ON THE MOVE

    July 1, 2022
    Read more

Copyright BATTLESPACE Publications © 2002–2022.

This website uses cookies to improve your experience. If you continue to use the website, we'll assume you're ok with this.   Read More  Accept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT