Defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has won a contract by the Ministry of Defense for the operation and maintenance of the Israeli Air Force's (IAF) new trainer plane, the Beechcraft T-6 ("Effroni").
Elbit did not disclose financial details of the deal, except to say that the payment amount is not material to Elbit Systems. The payment will be delivered over the course of five years.
There is an option to extend the deal for an additional five years.
The IAF's new T-6 replaces the trainer jet Fouga Magister ("Zukit") that has served the IAF's flight school for decades. The new plane brings the IAF in line with other air forces in training new pilots on turbo-prop aircraft, considered safer for training purposes and more cost-effective than jet aircraft.
Elbit Systems has provided the IAF with maintenance services for its training aircraft and helicopters since 2002.
Published by Globes [online], Israel business news - www.globes-online.com - on July 7, 2009
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