Elbit Systems [NASDAQ: ESLT] revealed that the company secured a contract from Avioane Craiova S.A. Additionally, the Romanian based company gave Elbit an agreement worth $27M. The 4 years contract is for the initial stage upgrading plan of IAR-99. The IAR—99 is a standard Romanian air force guide aircraft.
Under the terms of the contract, Elbit Systems will provide improved avionic systems and virtual avionic systems for the IAR-999 aircraft. Furthermore, the company will also equip the aircraft with Close Air assistance. It will also provide Air to Air facilities enabling an efficient conversion of RoAf pilot.
“ We at Elbit feel privileged to deliver sustained assistance for RoAF. This update program follows a scope of innovations that Elbit offers to the RoAF. It is a joint effort with Romanian organizations, including upgrades for different fixed-wing airplanes with improving capabilities.” Stated General Manager Elbit