24 Vol. 9 / No. 12/ December/January 2017/18 Global Aviator
Industry news
Comair Flight Services is proud to
announce the appointment of Nick
Hawke as Chief Pilot and Learjet 60
Captain.
Nick did his PPL at Mashonaland
Flying Club in the mid-nineties and in
1998 met the requirements for his CPL
while working in the airfreight industry
in Texas.
Since then Nick has flown various
aircraft - from a Cessna 206 in the late
nineties to Second Officer on Cathay
Pacific’s Airbus fleet and Relief
Captain on the Boeing 777 ultra-long
haul flights from Hong Kong to North
America, Europe and Southern Africa
during 2003 - 2012.
Nick left Cathay in November 2012
to further his studies in Human
Behaviour and Human Performance,
working with some of the global leaders
involved in the industry.
He did his South African ATPL in
2016 and started working on his
Instructor Rating. Nick joined CFS at the
end of April this year as a Captain on the
PC-12 and will now lead the company’s
growing fleet as Chief Pilot in addition
to his role as Captain on the Learjet 60.
Nick has 6500 flight hours under his
collar and has been a valuable addition
to the CFS team since he joined earlier
this year. He was a natural choice for this
position and the management of CFS
wished him every success in his
new role.•Comair Flight Services
(CFS) appoints new
chief pilot
IAI publishes its
financial statements
for 2ndQ 2017
Israel Aerospace
Industries ("the Company"
or "IAI"), Israel's largest
national military and
civilian security defense
company, issues its
consolidated financial
statements for the quarter
ended 30 June, 2017.In Q2 2017, the Company
reported a record growth in order
backlog to USD 11.1 billion. Another
record was noted in the scope of
engagements in new transactions
entered into by the Company in Q2
2017 in a total of USD 2.9 billion.
The Company reported sales
totalling USD 859 million in the
second quarter of the year, as well
as net income of USD 21 million and
operating income of USD 16 million.
The Company's cash balances amounted
to approximately USD 1.7 billion, with
positive cash flows from operating
activities of USD 208 million.
"The second quarter of 2017
was characterized by the significant
growth in the scopes of operationsand the achievement of new records
in the Company's order backlog
and scope of engagements, results
which bear witness to the major
acceleration and expansion of the
Company's business and marketing
ventures. These accomplishments
stand out particularly in the aftermath
of a period of having to face several
challenges from within and without.
In the second quarter, among
others, the Company signed mega
deals for selling air defense systems to
India totalling some USD 2.4 billion,
including the largest transaction
in the history of Israel's defense
industries, which resulted in a record
order backlog in the history of IAI.
This accelerated business activity,
combined with solid and material
cash balances and positive cash flows,
are an expression of the Company's
business, corporate and technological
growth and strength which I believe
will continue to bear fruit. These
accomplishments are first and foremost
credited to the male and female
employees of IAI whose dedication
and professionalism allow us to pursue
the path of achievements and growth.
We are continuing to experience
the global trend of increasing homeland
security budgets and the demand
for advanced technological solutions
that are tailored to the customer's
needs. Accordingly, in order to be
able to provide the optimal and
most professional response to our
customers, we continue to make sizeable
investments in R&D and innovation.
In the internal corporate front,
the adoption of the growth plan in
the Company has shown progress
and has already led to a significant
decrease in employee headcount, a
reduction in costs and considerable
operational improvement.
Nonetheless, the Company continues
to face major business challenges,
including enhanced competition
in the target markets, mainly in
the civilian market, and the effects
of the sharp devaluation of the
US Dollar exchange rate. IAI will
continue to cope with the demands
of the competitive market and the
need for growing improvement
procedures while constantly exploring
new markets and groundbreaking
solutions along with the adoption
of structural and organizational
processes and changes that will secure
the Company's ongoing growth." •Yossi Weiss, President and CEO of IAI: