$5m contract for Zlin Z-242L trainer

Published: 7/3/2000

Morvan Otrokovice (MO), producer of the Zlin aircraft, has won an Algerian contract valued at $5m for the licence production of the Zlin Z-242L two-seat trainer in Algeria. The sale follows last year's success in selling 100 aircraft to the Eyptian Air Force under a contract reported to be worth $20m, effective doubling the company's turnover From local reports, the contract for the production of the aircraft is for a minimum of two years and will hopefully lead to further sales in Africa MO currently has an order book for 11 planes and, according to the company, is adding three a month, with the ambition of selling 30 of the aircraft priced at $120,000-140,000 in the USA, where the aircraft has been certified since 1992. The company increased its turnover by 18% in the first quarter of 2000 and is looking for a profit of $2.7m in 2000 on a turnover of $27m, substantially up on the $10.8m the company recorded in 1998.

Article ID: 1906