IAI Has Very Good Day

Today has been a very good day for Israel Aerospace Industry. The Israeli Ministry of Defense announced that Israel and the United States completed three extremely successful tests of the Arrow anti-missile system in Alaska, in which the system directly hit three incoming missiles and completely destroyed them — outside of the earth’s atmosphere. The Arrow-3 has been designed to intercept potential nuclear tipped Iranian missiles outside the atmosphere. The IAF is now expected to deploy the Arrow-3, and officially deem the system operational. The success is also predicted to result in potential export sales of the Arrow-3.

On the business front, IAI announced today it had received a $400 million order to convert passenger planes into freighters — which has been the main type of work done by the aircraft division. IAI has been converting a steady stream of 767 passenger planes to freighters for Amazon Prime. This conversion order was received from a new customer. It is expected those deliveries will be stretched out of five or six years.