The Russian government has bailed out the MiG Corporation after it lost more than $300 million last year and reported total debts of $1.25 billion. Twenty-four MiG-29 SMTs that were built for Algeria will be bought instead by the Russian Air Force for $690 million. Another $417 million will be provided through an issue of additional shares, so that MiG can be integrated debt-free into Russia’s United Aircraft Corp. (UAC).
AIN Defense Perspective » February 17, 2009
Indian helicopter requirements provided the only real news at this month’s Aero India event in Bangalore. Indian officials confirmed the relaunch of the competition for nearly 200 armed light helicopters, a requirement that is now called the reconnaissance and surveillance helicopter (RSH). Eurocopter has proposed the AS 550 C3 Fennec, with license-manufacture by Hindustan Aeronautics.
Defense business accounts for nearly half the turnover of Eurocopter, and recent export orders should help the EADS subsidiary overcome a downturn in commercial orders. Over the past two months, a major deal to supply 50 EC 725 Cougars to Brazil has been announced, followed by 15 more to Greece for SAR duties.
Intense speculation surrounds the Obama Administration’s Fiscal Year 2010 U.S. defense budget submission, which is now being deliberated in secret within the Pentagon. According to Secretary of Defense Robert Gates, difficult choices must be made. The spotlight has fallen on two aerospace programs: whether to buy any more F-22 Raptor stealth fighters, and whether to abandon the VH-71 Presidential helicopter program.
The four partner nations in Eurofighter have agreed to delay until 2015 the introduction of the Meteor, the advanced rocket-ramjet beyond visual range air-to-air missile (BVRAAM) designed by MBDA. The UK Ministry of Defence (MoD) is managing the development of Meteor, and is the only country to have committed to production so far. However, the MoD told the UK National Audit Office that it was falling into line with Germany, Italy and Spain.
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