Elbit seals $1.65 billion deal with Greek air force
The Israeli company, under contract by the Ministry of Defense, will build and operate a flight training center, provide Greece with 10 M-346 Italian aircraft, and upgrade existing aircraft
Udi Etsion | 11:00 18.04.2021
The largest deal in the history of Israeli defense powerhouse Elbit Systems Ltd. was officially announced on Sunday, with the company signing a contract valued at approximately $1.65 billion for the establishment and operation of the International Flight Training Center of the Hellenic Air Force. The Greek government had announced in January of this year that the Israeli Ministry of Defense had won the tender for Elbit Systems, and the contract was officially signed this past Friday. The contract will be executed over a period of approximately 20 years and will include price indexation. Elbit, which already operates the Israeli Air Force’s flight school’s aircraft, is set to build a similar training center for the Hellenic Air Force, which will include 10 Italian-made Aermacchi M-346 aircraft made by the Leonardo Company, “Lavi” multirole fighter jets that are used by the Israeli flight school, and kits to upgrade flight systems on existing T-6 aircraft (also known as “Efroni” planes in the Israeli Air Force).