Italian training aircraft manufacturer Aermacchi and the Greek defence ministry have signed a memorandum of understanding under which Athens could take a 10% stake in the M346 lead-in fighter trainer programme in return for an investment worth €60 million ($78.6 million).
Under consideration to meet part of the planned 12-nation Advanced European Jet Pilot Training, or Eurotraining requirement the M346 is being developed by Finmeccannica company Aermacchi, with Italian firms to account for 51% of the project's total value. To deliver multinational training services to signatory nations from around 2012, the Eurotraining programme is in an extended assessment phase expected to conclude this year.
Noting that the Greek defence ministry's signature represents an intention to become a primary level partner and is not a firm commitment, Aermacchi senior vice- president commercial Carlo Logli says a further 39% interest in the project is up for grabs. The company is in discussions with several additional countries that could be interested in becoming primary or secondary partners in the project, Aermacchi says.
Industry sources suggest several countries including Greece and Italy could commit to the M346 for service entry before 2010 to meet their operational requirements, which are more urgent than some of their expected Eurotraining partners. Rather than threaten the future of the multinational initiative, such a development would serve to strengthen the collaborative programme, the sources say.
CRAIG HOYLE / LONDON
Source: Flight International
