Elbit Systems Marks 20 Years of Operating the Elementary Trainer Aircraft Fleet of the Israeli Air Force with 95% Availability Rate
HAIFA, Israel, March 29, 2023 /PRNewswire/ -- Elbit Systems Ltd: is marking 20 years of operating the sixteen GROP G-120-AI aircraft fleet of the Israeli Air Force (IAF) that was established by Elbit Systems in 2002 as a multi-year Private Finance Initiative (PFI) program under which the Company procures, operates and maintains the fleet, providing the IAF with training flight hours. Since the start of operations, high customer satisfaction level has earned Elbit Systems with follow-on contracts to continue delivering this service to the IAF for two consecutive 10-year periods.
During the 20-year period of its operation, the GROB G-120-AI fleet delivered 140,000 training sorties and 85,000 flight hours while maintaining availability rate of 94.7%.
Elbit Systems' expertise on delivering, operating and maintaining aircraft fleets resulted in continuous expansion of the Company's activity in this area.
The Israeli Ministry Of Defense contracted Elbit Systems for handling two additional training fleets for the IAF - the Texan T-6 basic trainer fleet and the M-346 advanced jet trainer fleet; the Israeli Ministry of Public Security also contracted the Company for the delivery, operation and maintenance of Israel's Air Tractor aerial firefighting fleet. In 2016 Affinity, an Elbit Systems JV, was contracted to procure, operate and maintain the Phenom 100, Beechcraft T-6 and GROB G-120TP fleets of the UK MFTS for the Royal Air Force. In 2020 the Company secured an approximately $1.7 billion contract from the Hellenic Ministry of National Defense, under a G2G contract, for the establishment and operation of the Hellenic International Flight Training Center with fleets of T-6 and M-346. These bring the total number of aircraft operated by Elbit Systems to over 170.
In November 2022, during the latest edition of NIDV's Exhibition Defense & Security (NEDS) Elbit Systems and Fokker Services Group signed an agreement to provide advanced, proven military flight training capabilities. Under the cooperation scheme Fokker Services Group will add its considerable MRO expertise and capacity to Elbit Systems' comprehensive portfolio of advanced flight training solutions that can be optimized to meet domestic requirements.
"We are proud of the excellent performance indicators we have been able to achieve." said Adi Raviv, Elbit Systems VP for Flight Academies and Services, explaining that "delivering such a top service rate, with an emphasis on safety and availability, takes highly professional technical teams, well organized logistics and rigorous management."
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 communication systems, radios, cyber-based systems and munitions. The company also focuses on upgrading 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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Company Contact:
Dalia Bodinger, VP Communications & Brand
Tel: +972-547659998
[email protected]
Anna Ahronheim
Global Media Manager
Tel: +972-54-999-5814
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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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