Benzinga | Nov 8, 2021 06:04AM EST

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

* Elbit Systems Ltd (NASDAQ:ESLT) stated that Affinity Flying Training Services Ltd., its UK joint venture with KBR Inc. (NYSE: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.