Boeing and IAI sign new strategic cooperation agreement

victoria@aviationnews-online.com
By victoria@aviationnews-online.com November 29, 2018 00:16

Boeing and IAI sign new strategic cooperation agreement

Boeing and Israel Aerospace Industries (IAI) have signed a strategic agreement setting out principles of cooperation between the two companies in commercial and military aviation, in Israel and other markets around the world.

According to the agreement, Boeing is expected to provide IAI with work packages totalling potentially billions of shekels, relating to potential future Boeing sales of defence products to Israel, including new tanker aircraft. The agreement also covers cooperation in other transactions Boeing expects to participate in worldwide.

The “term sheet” agreement reflects Boeing’s commitment to the State of Israel and its activities there. The Israeli Air Force is evaluating the procurement of Boeing platforms that could total more than $10 billion, including the sale of fighter aircraft, helicopters, and tanker aircraft. If Boeing is successful, it could place work at IAI worth billions of shekels.

Harel Locker, Chairman of IAI, said: “IAI has for decades viewed Boeing as a strategic partner in many areas, both military and civil. The Term Sheet which was signed last week will further strengthen and deepen the existing cooperation between the two companies, acting in partnership and synergy in Israel and internationally in many varied fields. I am grateful to the Ministry of Defense for its assistance in reaching this agreement with Boeing.”

victoria@aviationnews-online.com
By victoria@aviationnews-online.com November 29, 2018 00:16