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Elbit Systems Wins $1.6B Contract to Help Establish Greek Air Force Training Hub

Israel-based defense company Elbit Systems (Nasdaq: ESLT) has secured a potential 20-year, $1.65 billion contract to build and operate an international flight training center for Greece’s airmen as part of a government-to-government transaction.

Elbit Systems said Sunday it will establish the center to host M-346 fighter jet trainers for the Hellenic air force and help the foreign military service maintain its T-6 Texan II turboprop training aircraft fleet over the next two decades.

The flight school will also have networked flight simulators, ground-based terminals and command-and-control systems.

In a separate announcement, the Israeli foreign affairs ministry noted the center will receive 10 Leonardo-built M-346s along with simulation equipment and logistics support services from the defense contractor.

The ministry first announced Greece’s selection of the winning project bid from Israel via an international tender process.

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