The Paris Air Show in Le Bourget, near Paris, regarded as the world's most prestigious air show, will open in two weeks. Tens of thousands are expected to attend.
Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1), which usually displays its best systems and products at the show in an attempt to promote sales, has decided to forego its display area and expensive presentation this year. Company sources said that its appearance will be more modest, focusing on an office with sales personnel in the business area of the prestigious exhibition.
Sources connect IAI's limited presence to the company's recent crisis: the ongoing difficulty in appointing a chairman, the police investigation engulfing the company, its tense labor relations, and an attempt to save on costs.
Other company sources, however, dismiss this explanation, saying that in contrast to previous years, when the company made fancy presentations next to a display area accessorized with unmanned aerial vehicles (UAVs), advanced radar systems, and missiles, the company has no new product it is seeking to unveil, and is therefore focusing its efforts on the huge hosting area it rented.
These sources added that a delegation of no fewer than 30 division and plant managers would represent IAI at the upcoming air show, in addition to other executives, for whom many business meetings with potential customers from all over the world and other respected parties have been scheduled.
In contrast to other defense companies worldwide having displays at the Air Show as a matter of course, IAI owns a round pavilion located on the exhibition site, which it purchased in the 1970s under its founder, the late Al Schwimmer.
Published by Globes [online], Israel Business News - www.globes-online.com - on June 6, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017