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.