Tag: IAI

Israel to sell UAVs to Russia

Israel Aerospace Industries (IAI) CEO, Itzhak Nissan and the Director General of the Oboronprom Russian Industrial Corporation, Andrey Reus, signed an agreement on Tuesday to sell UAV assembly elements and services to Oboronprom from next year.

IAI to unveil tilt-rotor UAV

The Panther is a tactical UAV that ‘combines the flight capabilities of an airplane with helicopter-like hovering, a tilt-rotor propeller, and a fixed wing Vertical Takeoff and Landing (VTOL) system, which enables a runway-free takeoff and landing on an unprepared area’.

Unmanned Bell 407 powers up

Fire-X, an unmanned cargo version of the Bell 407 utility helicopter was supplied external power for the first time earlier this month and is expected to fly by the end of the year. The Fire-X combines the qualities of the Bell 407 and Northrop Grumman MQ-8B Fire Scout.

MBDA offers India ordnance mgmt services

The European arms firm MBDA has offered its services for stockpile management to the Indian armed forces, saying it can help achieve cost savings of up to 30 per cent, besides configuring life extensions of existing stock and improving safety.

IAI’s sales fall in ’09

Israel Aerospace Industries has seen a fall in sales in 2009 from 2008 and has attributed this drop to the economic crisis affecting the company’s commercial aviation business.

IAI denies wrongdoing in MRSAM deal

The allegations of impropriety raised against the $1.4 billion Medium Range Surface-to-Air Missiles contract with Israel Aerospace Industries have elicited a response from the IAI, which has come out with a guarded denial to these allegations by issuing a statement without naming any specific contract, customer or country.

Release: Israel Aerospace Industries Financial Report ’08

• Sales in 2008 reach $3.6 billion, compared to $3.3 billion in 2007, an increase of 9 percent

• $91 million net profit in 2008, compared to $118 million in 2007, a decrease of 23 percent

• Profit before early retirement expenses reaches $195 million, compared to $157 million in 2007, an increase of 24 percent

• Backlog as of December 31, 2008, reach $7.1 billion, reflecting two years worth of sales

• Cash flow from current projects reaches $123 million