Israel to buy Italian military training jets
Jerusalem: Israel has reached a USD 1 billion preliminary deal to buy 30 Italian military training jets, Israeli defence officials said on Thursday, providing a long-awaited upgrade to what is widely viewed as the most advanced Air Force in the Middle East.
The agreement, which still needs formal government approval, marked the end of a long competition between Italy and South Korea over the lucrative sale.
Israel announced it would buy the M-346, made by the Italian company Alenia Aermacchi and designed for low-cost flights. The aircraft will replace American Skyhawks, which the Israeli Air Force has trained with for 40 years.
As early as 2008, the Israeli Air Force announced it needed to replace the antiquated jets.
Italy will reciprocate the Israeli purchase by buying USD 1 billion in Israeli defence equipment, Israel`s Defence Ministry said.
The ministry`s director general, Udi Shani, said the offset deal enabled Israel to make the large purchase in a "harsh budgetary reality”.
South Korea hoped to sell its T-50 aircraft to Israel and had issued a USD 1.6 billion counteroffer including buying the expensive Iron Dome anti-rocket system, defence officials said. As Israel considered its options, South Korea complained about a lack of transparency in the deal.
More from India
More from World
More from Sports
More from Entertaiment
- Panel discussion over continuous chaos in Parliament on demonetisation
- DNA: Know why Jayalalithaa was buried and not cremated
- 800 tourists stranded in Andamans due to heavy rains, Navy launches rescue operation
- Opposition observes 'black day' to mark one month of demonetisation
- Watch shocking visuals - Speeding car rams pedestrians in Kolkata, 3 killed
- Twitter users blast Arvind Kejriwal as he says 'Modi will never appoint a Muslim Vice President no matter what Jung does'
- Yuvraj Singh-Hazel Keech Reception: MS Dhoni, Sourav Ganguly, Virender Sehwag attend lavish party — PHOTOS INSIDE
- Pakistan International Airlines plane from Chitral to Islamabad crashes near Havelian, 48 people dead
- Gali Janardhana Reddy converted Rs 100 crore black money by paying 20% commission, claims driver's suicide note
- Was Rahul Gandhi smiling during Jayalalithaa's funeral? Twitter users share pictures as proof