Air Industries surges on long-term agreement for defense helicopter

Air Industries

15/10/2021 15:34

** Aerospace and defense manufacturer Air Industries Group's
shares  AIRI.K  up ~8.7% at $1.13 - set to record its best day
since April
    ** Co announced its subsidiary Sterling Engineering
receiving a new $5.2 mln, long-term agreement to deliver "Chaff
Pods" for the CH-53K heavy lift helicopters  urn:newsml:reuters.com:*:nFWN2RA1JG
    ** News of the deal came out after the closing bell on
Thursday, sending AIRI up nearly 25% in premarket trading 
    ** CH-53K is a sea-based, long range, heavy-lift helicopter
that supports the U.S. Marine Corps in transporting personnel
and equipment from naval ships to land in the Indo-Pacific
region
    ** Stock had fallen ~5.7% this year, including session gains

 (Reporting by Bansari Mayur Kamdar)
 ((BansariMayur.Kamdar@thomsonreuters.com;))