Air Industries Group soars on defense contracts worth $18.2 mln

Air Industries

20/01/2022 10:59

** Shares of aerospace and defense manufacturer Air
Industries Group  AIRI.A  up 12.5% at about $1 premarket
    ** Co, a U.S. Department of Defense contractor, said on
Wednesday its unit had won two long-term agreements (LTA) to
manufacture flight-critical assemblies for the Blackhawk
helicopter  urn:newsml:reuters.com:*:nBw6cL4dza
   ** Estimated value of two LTAs will total about $18.2 mln
over their five-year terms, co says
   ** Agreement includes manufacturing primary flight control
assembly and a flight critical component for the Blackhawk
helicopter
    ** Shares of AIRI has lost 26.8% in 2021

 (Reporting by Kannaki Deka in Bengaluru)
 ((Kannaki.Deka@thomsonreuters.com))