Elbit Systems Joint Venture, Affinity, Awarded $88 Million Contract for Operating Additional Training Aircraft for the Royal Air Force
Elbit Systems Ltd. (NASDAQ: ESLT) announced that its UK joint venture, Affinity Flying Training Services, secured an approximately $88 million contract from the UK Ministry of Defence. The contract involves the operation of four additional Texan T-6C aircraft as part of the UK Military Flying Training System over a 12-year period. Elbit Systems and KBR each hold a 50% share in Affinity, and the new aircraft will support RAF pilot training, adding to the existing fleet of 10 aircraft already in service.
- $88 million contract awarded for additional aircraft.
- Joint venture with KBR strengthens market position.
- Supports ongoing RAF pilot training program.
- None.
HAIFA, Israel, Nov. 8, 2021 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that Affinity Flying Training Services Ltd. ("Affinity"), its UK joint venture ("JV") with Kellog, Brown and Root Ltd. (NYSE: KBR) ("KBR"), was awarded an approximately
The four additional Texan T-6C aircraft will be operated predominantly from Affinity's site at Royal Air Force ("RAF") Valley, where they will join the 10 existing Texans that are already in service. The UKMFTS is the UK's program to deliver and support the RAF pilot training, procurement, operations and maintenance services. Taking place at RAF Cranwell, RAF Barkston Heath and RAF Valley on three different types of aircraft, Affinity has delivered over 20,000 flying hours for the UKMFTS program.
Martin Fausset, CEO of Elbit Systems UK Ltd., said, "This contract attests to the level of satisfaction from the services and support provided by us in the UKMFTS program. We are proud to be an integral partner of the UK MOD in providing training solutions for the RAF and of the contribution to the pilots' operational readiness and efficiency."
About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.
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This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.
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SOURCE Elbit Systems Ltd
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