The divided U.S. government edged closer to the so-called the “fiscal cliff,” a combination of tax increases and automatic spending cuts that will be imposed on January 2 unless political parties reach agreement on a package to reduce the country’s $16 trillion national debt. With 25 days remaining before the measures take effect, the parties were at a stalemate.
AIN Defense Perspective » December 7, 2012
The French and German governments have agreed to reduce their shareholdings in EADS to 12 percent each, and drop their veto rights over key decisions. Spain will hold 4 percent. EADS said the pact will normalize and simplify its governance, while still allowing the three countries “to protect their legitimate strategic interests.”
India’s audit body for government projects, the Comptroller and Auditor General (CAG), has censured the Ministry of Defense for violations in the offset clause of five projects for which waivers were given. As a result, the CAG says, more than $376 million in foreign direct investment for the Indian aerospace industry has been lost. The projects were all started before India introduced its latest offset policy earlier this year.
Bangladesh and Vietnam are close to buying the Yakovlev Yak-130 advanced jet trainer, according to Russia’s weapons exporter, Rosoboronexport, but in other Asian countries the aircraft faces growing competition from China in the form of the Hongdu L-15. “There are no sales prospects for our aircraft in China, because the local engineers have developed their own design. Outwardly, the L-15 bears a distinct resemblance to the Yak-130,” said Sergei Kornev, head of the Rosoboronexport department for aviation.
Europe’s first unmanned combat air vehicle (UCAV) has flown. The Neuron technology demonstrator took off from the Dassault test base at Istres, France, at dawn on December 1. Dassault is the prime contractor, teamed with Alenia Aermacchi (Italy); EADS-CASA (Spain); Hellenic Aerospace Industries (Greece); Ruag (Switzerland); Saab (Sweden) and Thales (France).