IAI board approves consolidation of three business groups into single aviation group

Israel Aerospace Industries (IAI) board of directors has approved IAI’s CEO and President, Joseph Weiss proposal to implement a structural transformation. The main initiative implemented under the transformation is the establishment of a single aviation group for all of IAI’s aviation businesses. Currently, IAI is structured in six independent groups, each with turnover of several hundreds of millions of dollars. The new group will focus on four business lines: aircraft development and manufacturing; development and production of aviation assemblies; aircraft conversion and enhancement; and aircraft maintenance. Yossi Melamed, Executive Vice President & General Manager of Bedek Aviation Group has been named General Manager of the new group.