Israel Aircraft Industries (IAI) recorded its first profit in five years with 1997 figures which show net earnings of $24.3 million. The results are a significant turnaround from 1996 when losses amounted to $42 million. Sales in 1997 amounted to $1.691 billion, much of it in exports. Some $600 million of sales came from civil activities. Sales this year are expected to total $1.75 billion and the target is to reach $2 billion by the year 2000. IAI has an order backlog of $3.2 billion.
Source: Flight International