Air Transport Services Group, Inc. (NASDAQ: ATSG), through its subsidiary Cargo Aircraft Management, Inc., has awarded Israel Aerospace Industries Ltd. Bedek Aviation Group (IAI Bedek) a new contract for B767-200 aircraft conversions to freighter configuration.
The contract, signed during the Cargo Facts Conference held this week in Miami, FL, is to convert up to fourteen (14) aircraft from ABX Air PC configuration to Bedek Special Freighter Configuration (BDSF). The actual value of the transaction is undisclosed but exceeds $100 million.
The prototype aircraft is already under work and should receive STC certification in June 2009. The second aircraft (first series aircraft) is scheduled for induction in March 2009. All work will be performed in Israel with two parallel production lines running.
Dany Kleiman, IAI Corporate Vice President and General Manager of the Bedek Aviation Group emphasizes that “Bedek’s passenger to cargo conversions (B747-400, B767-200/300, B737-300/400) continue to grow as the core business of the Aircraft Division. This contract is another example of the excellent relationship between ATSG and Bedek.”
"We're very pleased to have contracted with IAI for the conversion of our Boeing 767-200 aircraft and are excited about their future market potential, said William Tarpley, COO of Cargo Aircraft Management. "The fact that IAI has been a preferred service provider to our ABX Air affiliate for more than a decade speaks volumes about IAI's workmanship and customer service."
Israel Aerospace Industries’ Bedek Aviation Group is a leading supplier of aviation maintenance, repair, overhaul and conversion services on a variety of commercial and military aircraft, engines and components. Bedek provides cost-effective, total maintenance support packages through its Full Service Provider Programs.
For further information, please contact:
Doron Suslik
Deputy Corporate Vice President for Communications
Tel: 972 (3) 935 8509
Fax: 972 (3) 935 8512
Email: hpaz@iai.co.il