Since the appointment at the beginning of 2006 of Itzhak Nissan as president and CEO of Israel Aerospace Industries (IAI), the company’s finances have undergone a radical improvement–a fact underlined by a massively oversubscribed public bond issue concluded earlier this month.
Israel Aerospace Industries
For the past six years at EBACE, Gulfstream has given groups of aviation journalists the opportunity to experience the cabin amenities of one of its business jets during a morning flight over the Alps. The initial flight in 2002 was in a G200, the model chosen because Gulfstream had purchased the type certificates for it and the smaller G100 from Israel Aircraft Industries the year before.
Israel Aircraft Industries of Tel Aviv and Avocet Aircraft of Westport, Conn., are within weeks of finalizing their definitive partnership agreement on the development, certification and production of the proposed very light ProJet, according to Avocet CEO David Tait. Since announcing the $2 million business jet last August, the companies have said little about the project.
Israel Aircraft Industries of Tel Aviv and Avocet Aircraft of Westport, Conn., have been in discussions with engine manufacturers, including the Honda/ General Electric joint venture company, for the proposed ProJet, an eight-seat very light twinjet. According to Avocet CEO David Tait, IAI and Avocet are within weeks of finalizing their definitive partnership agreement on the development, production and marketing of the $2 million ProJet.
The Gulfstream G150, which the Savannah, Ga.-based company describes as the first wide-cabin, long-range, midsize business jet, rolled out January 18 in el Aviv before hundreds of employees of Israel Aircraft Industries, which is producing the G150 at its plant on Ben Gurion International Airport.
The G150, which Gulfstream touts as the first wide-cabin, long-range, midsize business jet, rolled out January 18 in Tel Aviv in front of hundreds of Israel Aircraft Industries employees, officials from both companies, supplier representatives and certifying authorities.
Westport, Conn.-based Avocet Aircraft has canceled its program to develop a $2 million, six-seat very light jet known as the ProJet. “It just wasn’t the right time to be going forward with the program,” Avocet chairman and founder Carey Wolchok told AIN. Avocet and Israel Aircraft Industries (IAI) publicly announced their collaboration on the ProJet in August 2003, with certification then expected by 2007.
An impressive array of innovative, advanced and sophisticated products and systems mark a significant increase in Israel’s presence at the Paris Air Show this year. A new pavilion accommodates Israel’s 12 leading defense companies, while an array of products for civilian markets are also featured.
One of the international partners growing in importance for Israel Aircraft Industries (IAI) is India’s Hindustan Aeronautics Ltd. (HAL), which is evidenced by the growing number of cooperative programs between the two firms. One of the most well-known examples is the HAL-designed and -built Dhruv Advanced Light Helicopter (ALH).
As the Paris show opened, Israel Aircraft Industries (IAI) announced a significant boost to the 747-400 freighter conversion program conducted by its subsidiary, Bedek Aviation Group. Rabobank of the Netherlands has become the first customer to choose Bedek for a full passenger-to-freighter conversion, with an order for two.