Israel Aircraft Industries (IAI) is targeting growth in its commercial aviation business. Chairman of the company’s board of directors Yair Shamir says: “I see great importance in the continuation of growth in [commercial and defence], until they become equal. Today, IAI’s commercial business constitutes approximately 35% of total sales.” The company signed new contracts worth $3.4 billion in 2005, leaving it with a backlog of $6.3 billion at the end of the year, compared with $5.4 billion a year earlier. IAI has seen a 14% increase in 2005 sales to $2.34 billion. Net profit was five times higher at $25 million, but high costs related to employment prevented a further increase.
Source: Flight International
