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IAR Brasov profit increased 2.4 times in the first nine months


IAR Brasov reported for the first nine months of 2019 net profit of 49.531 million lei, 2.4 times higher compared to the similar period last year, according to data submitted to the Bucharest Stock Exchange Friday.

The turnover of the company increased nearly twice and reached 297.22 million lei.

On 30 September, IAR had current liabilities amounting to 49.46 million lei. Assets totaled 319.77 million lei.

IAR Brasov is a aeronautical tradition deeply rooted in the history of aviation, set up since 1925. Today, IAR is a specialized unit for maintenance, repair and overhaul for Puma and Alouette III helicopters.

The main beneficiaries of helicopters Puma and Alouette III manufactured / repaired in Brasov are the Ministry of National Defense (Air Force and the Navy of Romania), Romanian Intelligence Service, Ministry of Interior, Eurocopter (Airbus Helicopters), Denel - South African Republic, UAE Air force, the Armed forces and the Air force of Pakistan Air force in Sudan (1982-1984), the Ministry of Defense in Ivory Coast, Air force Lebanese Air force of Oman etc.

IAR Brasov shares are traded on the Bucharest Stock Exchange in December 1996. The main shareholder is the Romanian State, with 64.89% of the shares.