Gulfstream Aerospace Receives $74.3 Million Contract To Provide Two GIV-SPs For Egyptian Air Force
Large-Cabin, Long-Range Aircraft Equipped for Transporting Government Officials
Washington D.C., February 8, 2000 - Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), has been awarded a firm-fixed-price contract to supply two Gulfstream IV-SPs to the Arab Republic of Egypt Air Force. The aircraft will provide worldwide airlift for Egyptian government officials.
"The Egyptian government has had a strong association with Gulfstream for nearly two decades," said Monroe "Buddy" Sams, Gulfstream's vice president, government sales and marketing. "We are pleased to expand our relationship by providing two additional GIV-SPs to their fleet."
The two new Gulfstream IV-SPs will join two other Gulfstream IV-SPs, a Gulfstream IV and two Gulfstream IIIs currently flown by the Egypt Air Force. In addition to the aircraft, the contract also includes associated spares and support equipment.
"The Middle East continues to be a strong market for Gulfstream products. Over the last five years, Gulfstream has dominated the large-cabin market in the Middle East with nearly a 65 percent market share," said Ernest Edwards, Gulfstream vice president, international sales. "Gulfstream currently has 74 aircraft in the Middle East and North Africa and over the next two years we expect our fleet in these areas to grow substantially."
Recent customers include Kuwait, which received the first of three Gulfstream Vs in November 1999 and Saudi Arabia, which ordered a Gulfstream IV-SP and its first special mission version of the Gulfstream V in 1998 specifically for medical evacuation. Also in 1998, Gulfstream signed a $335 million contract for 12 Gulfstream IV-SP aircraft with National Air Service (NAS) to establish the Middle East Shares program.
The Gulfstream IV is the most successful long-range, large cabin business aircraft in aviation history. Together, Gulfstream IVs and IV-SPs have established or broken 81 national and world flight records. With approximately 370 in operational service, the Gulfstream IV-SP travels 4,220 nautical miles non-stop and at speeds up to Mach 0.88 and can cruise at altitudes up to 45,000 feet, well above commercial traffic. Since the aircraft was brought to market in 1985, Gulfstream IVs and the Gulfstream IV-SPs have completed over 1.1 million flight hours and completed over 583,000 landings. The Gulfstream IV-SP offers an impressive dispatch reliability of 99.7 percent.
NOTE TO EDITOR
Gulfstream Aerospace Corporation is the leading designer, developer, manufacturer and marketer of the worldís most technologically advanced intercontinental business jet aircraft. The company has produced approximately 1,150 aircraft for customers around the world since 1958. To meet the aviation needs of its customers, Gulfstream offers a full range of aircraft products and services, including the Gulfstream IV-SP®, the ultra-long range Gulfstream V®, Gulfstream Shares®, Gulfstream Financial Services, Gulfstream LeaseSM, Gulfstream Pre-Owned Aircraft SalesTM, Gulfstream Charter Services®, Gulfstream Management ServicesSM and Gulfstream ServiceCare®. The company employs more than 8,200 people at eight locations. We invite you to visit our website at www.gulfstream.com for photos of Gulfstream aircraft and related information.
General Dynamics, which is headquartered in Falls Church, Va., has leading market positions in shipbuilding and marine systems, land and amphibious combat systems, information systems, and business aviation. The corporation employs approximately 43,000 people worldwide and has annualized sales of approximately $10 billion. More information about the company can be found at www.generaldynamics.com.