Elbit, KBR JV Affinity Secures $88M Contract From UK Ministry Of Defence

  • Elbit Systems Ltd ESLT stated that Affinity Flying Training Services Ltd., its UK joint venture with KBR Inc. KBR, formerly known as Kellog, Brown and Root Ltd., has secured a ~$88 million contract from the UK Ministry of Defence for the operation of four additional Texan T-6C aircraft for the UK Military Flying Training System program. 
  • Elbit Systems and KBR each hold a 50% share in Affinity and will evenly benefit from the contract. The contract will be performed over 12 years.
  • The four additional Texan T-6C aircraft will be operated predominantly from Affinity's site at Royal Air Force Valley, where they will join the ten existing Texans in service.
  • Price Action: ESLT shares closed higher by 0.83% at $157.14 and KBR higher by 3.36% at $43.35 on Friday.
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